Butterfield Adjusts Rates in Response to US Fed Funds Rate Increase

23 March 2023, 05:41 AM

Business

Butterfield Bank (Cayman) Limited (“Butterfield”) announced that, in step with the recent increase in the US Federal Funds Rate, Butterfield 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 0.25% to 8.00% effective March 24, 2023. For information regarding rates and payment terms, clients can call (345) 949 7055 or visit Butterfield’s website and Banking Centres.