BUTTERFIELD ADJUSTS RATES IN RESPONSE TO FED FUNDS INCREAS

05 May 2022, 07:03 AM

Business

Butterfield Bank (Cayman) Limited (“Butterfield”) announced that, in step with the recent increase in the US Federal Funds Rate, it has adjusted its Prime Rate for US and CI dollar lending for residential mortgages, consumer loans and corporate loans.

The US and CI dollar prime rates for residential mortgages, consumer loans and corporate loans will increase by 0.50% effective Friday, 6 May 2022.

Selected deposit rates with terms of 90 days or more will be increased in line with the market. Detailed deposit rate information will be available on Butterfield’s website and at Butterfield Banking Centres.

For information regarding rates and payment terms, clients can call (345) 949 7055.