Prime Rate Increase
Effective August 28, 2023
![Computer](/content/scotiabank/ky/en/about-scotiabank/media-centre/increase-to-prime-rate-march-241/_jcr_content/main-par/section_container_co/section-container-par/row/row-par-1/image.img.png/1663946743961.png)
Scotiabank & Trust (Cayman) Ltd. wishes to advise that due to the announcement by the Federal Reserve to increase the federal funds rate by 0.25% on July 26, 2023 the following changes will occur:
- USD Prime Rate increase from 8.25% to 8.50%, effective August 28, 2023
- KYD Prime Rate increase from 8.25% to 8.50%, effective August 28, 2023
All products linked to USD and KYD Prime Rates will be adjusted on the effective dates indicated.