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Bermuda Government Mortgage Guarantee Programme

Phase 2
In collaboration with the Bermuda Government, BCB is pleased to be the Bank of choice for the Bermuda Government Mortgage Guarantee Programme. The first phase of this programme focused on financing for Bermudian first time home owners, allowing Bermudians to reach their goal of owning "a piece of the rock". We are pleased to announce that we have now moved into Phase 2. The second phase of the programme will continue to focus on financing for Bermudian first time home owners, and will allow public officers to transfer their mortgages from their existing bank to BCB. The details provided below are a guide and all loans are subject to BCB Credit Policies, requirements and approval.
Please allow 2 business days for review of your details, following which a representative will be in touch.

Programme Criteria

The Qualified Borrower(s) of record must:
  • Be an individual persons or persons; and
  • Have Bermudian status or be a spouse of a Bermudian, if borrowing jointly with their Bermudian spouse;
either
  • Not own any Bermuda real property; or
  • Be a Public Officer (subject to probation period being successfully completed), having an existing mortgage (or first legal charge) with another licensed Bank in Bermuda.
The Qualified Borrower(s) must have:
  • Have at least 10% of purchase price of the property or at least 10% of the cost of the renovations (if only renovations) in cash in a Bermuda bank account.
  • Have a property valuation within 3 months prior to purchase.
  • Have a property estimate or quote setting out the proposed renovations, cost and an appraisal outlining the completion value within programme limits, should renovations be required.
  • Written confirmation from Tax Commissioner that no government fees are outstanding (speak with Relationship Manager).
  • Loan to Value ratio and debt service ratio within programme limits.
  • Loan secured by way of a first legal mortgage of the property being purchases or transferred (for the full amount of the loan).

Additional Requirements

A loan to a Qualified Borrower of the programme must be:
  • For BMD $900,000 or less excluding Fees
  • Renovations up to BMD $50,000 may be included with the purchase.  If included they must not exceed $900,000 for the total loan.

Interest Rates, Terms & Fees

Qualified Borrowers under the programme will:
  • Have a discounted interest rate while the borrower is a participant under the programme:
    - Discounted interest rate of BCB Base Rate plus 2%.
    - Loan interest rate to revert to standard interest rate when borrower no longer falls under the programme.
  • Will have a maximum term for a loan under this programme of 360 months (or 30 years)
  • The Guarantee under this program will remain for a maximum of 10 years or less depending on alternate terms.
  • Fees:
    - Discounted Arrangement Fee of 0.75% of the total value of the loan amount. Normal legal fees and stamp duty apply (even if this increases the total loan amount over the BMD$900,00 so long as the base loan amount does not exceed BMD$900,000).
To confirm your eligibility to the program or to explore other financing options the following details are required:
  • A completed online Loan Request Form or BCB Personal Financial Statement
  • Verification of employment and salary
  • Three months of bank and credit card (if applicable) statements
Call Account Rates
Base Lending Rates
Fixed Enhanced Rates
Fixed Deposit Rates

Call Account Rates

Open Account
Rate as of 25th Mar 2026
A Call Account allows an investor more liquidity flexibility while earning a stable return on their investment in BMD or USD. Investors provide 32 day notice for use of funds, while accruing interest daily that is paid monthly. The minimum deposit requirement is BMD/USD $5,000.
Day Count
Annual Rate
32 Days
2.15
%
Open Account
*INDICATIVE CALL ACCOUNT RATE

Base Lending Rates

Open Account
Rate as of 25th Feb 2026
Our current base lending rates* for residential and commercial loans are:
BCB Base Rate
Rate
Residential
3.00%
Commercial
3.00%
Open Account
*INDICATIVE CALL ACCOUNT RATE

Enhanced Term Deposit Rates

Open Account
Rate as of 25th Feb 2026
We are offering a short term opportunity to further increase your savings in BMD and USD. When you place Term Deposits in the below listed amount sizes we will increase your rate of return. Please see below indicative Enhanced Term Deposit Rates.
Term
$100k-999k
$1M+
7 Days
0.00
%
0.00
%
14 Days
0.00
%
0.00
%
21 Days
0.00
%
0.00
%
30 Days
1.25
%
1.50
%
60 Days
1.75
%
2.00
%
90 Days
2.00
%
2.25
%
180 Days
2.25
%
2.50
%
12 Months
3.00
%
3.00
%
18 Months
3.00
%
3.00
%
24 Months
3.25
%
3.25
%
36 months
3.50
%
3.50
%
48 months
2.50
%
2.75
%
60 months
2.50
%
2.75
%
Open Account
*ALL RATES ARE QUOTED AS ANNUAL RATES OF RETURN

Fixed Deposit Account Rates

Open Account
Rate as of 25th Feb 2026
Bermuda Commercial Bank Limited Fixed Deposit Accounts can help investors increase their earnings potential on their savings, and provide security that protects the interest earned from market fluctuations. Depending upon your liquidity needs, we offer both short and long term Fixed Deposit Accounts. Our short term fixed deposit options range from one month to 18 months terms; with our longer term options ranging from 2 to 5 years. Longer term deposits allow for the investor to receive their interest* amounts as quarterly, semi-annual, or annual payments, without altering the deposit’s earnings potential. The minimum deposit requirement is BMD/USD $25,000 or equivalent in our other offered currencies.

Break penalties, including loss of all interest accumulated to the date of premature withdrawal, will apply for all deposits repaid prior to contracted maturity dates.
Read more
Term
BMD/USD
CAD
GBP
EUR
NZD
AUD
1 Month
1.00%
0.75%
2.25%
0.90%
0.00%
0.00%
2 Month
1.50%
0.85%
2.25%
1.25%
0.00%
0.00%
3 Months
1.75%
0.95%
2.25%
1.40%
0.00%
0.00%
6 Months
2.00%
1.05%
2.25%
1.40%
0.00%
0.00%
12 Months
2.50%
1.15%
2.50%
1.25%
0.00%
0.00%
18 Months
2.50%
1.25%
2.25%
0.75%
0.00%
0.00%
24 Months
2.75%
1.30%
1.75%
0.75%
0.00%
0.00%
36 Months
3.00%
1.30%
1.75%
0.75%
0.00%
0.00%
48 Months
2.25%
1.30%
1.75%
0.75%
0.00%
0.00%
60 Months
2.25%
1.30%
1.75%
0.75%
0.00%
0.00%
Open Account
*ALL RATES ARE QUOTED AS ANNUAL RATES OF RETURN.
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Easy as 1·2·3

1-year term earns 3.00%
2-years term earns 3.25%
3-year term earns 3.50%.
*All rates are quoted as annual rates of return. Minimum $100,000 BDA and US Dollar. Limited time offer. Terms and conditions apply.
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*All rates are quoted as annual rates of return. Minimum $100,000 BDA and US Dollar. Limited time offer. Terms and conditions apply.
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