Citizens Bank Guyana Inc. has announced reductions in its home mortgage interest rates and more flexible repayment options, aiming to make homeownership more affordable and accessible for Guyanese.
The initiative forms part of the bank’s continued support for the government’s National Housing Initiative, which promotes the construction and acquisition of homes across the country.
Under the bank’s new tiered mortgage structure, borrowers can now access loans of up to $10 million at an interest rate of 3.5 per cent, while loans of up to $20 million will attract a rate of 3.7 per cent.
Loans of up to $30 million will carry an interest rate of 4.95 per cent, while those up to $50 million will be offered at 5.0 per cent. Competitive rates will be available for loans exceeding $50 million, subject to application.
In addition to lower interest rates, Citizens Bank is now offering 100 per cent construction financing, repayment periods of up to 35 years for qualified applicants, 48-hour loan approvals, discounted home insurance premiums, reduced attorney fees, and no commitment or processing fees.
Managing Director Eton Chester said the bank remains committed to supporting Guyanese families who are ready to build or purchase their homes.
“We continue to support the thousands of Guyanese families who have land, or are in the process of acquiring land and are ready to take the next step. Citizens Bank is here to make that step as accessible and affordable as possible,” Chester said.
He added, “Whether you are building for the first time or looking to get a better deal on your existing mortgage, we want to be your partner in making homeownership a reality.”
Interested persons can submit applications online via the bank’s website or visit any Citizens Bank branch. All applications remain subject to the bank’s lending criteria and terms and conditions.
