New Interest Rates to Come into Effect on January 6, 2023
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PROVEN Bank made the decision to provide you with an Interest Rate Holiday for the month of December 2022, despite the 50-basis point increase in the US Federal Funds Rate on December 16, 2022.
As per the stated timeline, we now take this opportunity to advise that the new rates will come into effect on Friday, January 6, 2023. This will mean that PROVEN Bank will adjust its Prime Rate for US and CI dollar variable rate loans from 7.0% to 7.5%.
For further information regarding rates and payment terms, please contact us at (345) 949-7822.
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