Demerara Bank launches ‘Drive for Life’ promotion today

CURRENT and new customers of Demerara Bank Limited (DBL) will, from today, be able to access loans for the purchase of vehicles of their choice, through a new scheme.It is part of the ‘Drive For Life’ promotion which will run for 59 days, commencing from 11:00 hrs, after it is launched at the Bank’s, Diamond East Bank Demerara branch and continuing until June 30, 2014.
At today’s launch, several auto dealers and insurance company representatives will be present to offer guidance and assistance to persons seeking to buy vehicles and have them insured.
While the official launching is being done at Diamond, other branches of the Bank at Anna Regina, Essequibo Coast and in Berbice will also be staging awareness promotions, simultaneously, to alert customers in their areas about how they can get involved.
The Bank has decided, too, that, as an additional bonus at the end of the entire process, there will be a raffle drawn, where the grand prize of $500,000 would be won by one person.
However, the cash will not be given to the customer but will go towards the repayment of the person’s loan which, according to the Bank, is more like a giveaway, since there is no added expenditure on the person’s part before winning the raffle.
The Bank has, for this promotion, reduced its interest rates to 13.50 percent while the lending ceiling has been increased to $4M from $3M.
In addition, the Bank has promised that approval for loan applications will be given within the shortest possible time.