Donnamay Evans - Bank of Butterfield
Pursuing further education abroad has neither been more expensive, nor more necessary to the future success of Bermudians both young and old.
To avoid any last minute disappointment or cause any undue pressure and stress, we recommend that students & / or parents apply in principal three months in advance of commencing college or university
. Instead of leaving it to the last minute as many do. Presently our interest rates for unsecured educational loans are Base + spread of 3.75% and loans with security in place are Base + spread of 2.25%. (Please note that our base rate is currently 5.25%). Also, security maybe required based on the financial position of the applicant
We also give students and parents the option to pay the interest amount during the time frame in which they are in school and one year after graduation or until they are gainfully employed. They are then required to pay the principal and interest payments
Our 'Hook Up' program for students from ages 18-years and older is designed to teach young people, credit management, and budgeting techniques designed to give them the practical money management skills they will need to support their lifestyle at college -and beyond!
While borrowing is important, saving is just as important if not more so. Good and bad habits are often learned early in life. So since Butterfield Bank prides itself on being a Community Bank, it is committed to teaching
Our successful Super Saver Plus plan is a disciplined approach to saving money to also assist with the future of their children's education. This well-structured investment can help ease the financial burden they can face in the years to come. With only a minimum initial deposit of $1,000 and a minimum monthly commitment of $250, over five years they can save approximately $18,161.23.
Our Young Savers programme for young people ages 10 - to -18 years old, which is increasing in popularity among the