Butterfield Adjusts Rates in Response to Fed Funds Increase
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. Fixed-term deposit rates will also be increased.
The US and CI dollar prime rates for residential mortgages, consumer loans and corporate loans will increase by 0.75% to 5.50% effective 29 July 2022. Rates paid on fixed-term deposits will also be increased.
For information regarding rates and payment terms, clients can call (345) 949 7055 or visit Butterfield’s website and Butterfield Banking Centres.
Issued by: Butterfield Bank