Clarien Bank Limited will not adjust its BMD$ base lending rate following the US Federal Reserve rate increase of 0.25 percent. However, the Bank announced this week that it will increase BMD and USD Board Rates for term deposits, effective March 21, 2018.
Clarien CEO Ian Truran said: “We increased our base lending rate by 0.25 percent in January so we do not feel an additional increase to our clients is warranted at this time. However we are pleased to announce that we have increased our board rates for term deposits and savings accounts. This follows increases we made in January and is positive news for our clients and a move that we hope will continue to help stimulate Bermuda’s economic recovery and growth.
For more information on the new Clarien Board Rates and Promotional Deposit Products, visit clarienbank.com.