–offers flexible terms to boost homeownership
CITIZENS Bank Guyana Inc. has announced a reduction in its home mortgage interest rates, and introduced more flexible repayment terms, aiming to make homeownership more accessible for Guyanese citizens.
The move is part of the bank’s ongoing support for the National Housing Initiative, which encourages the construction and purchase of new homes across the country.
The bank’s new tiered interest rate structure is designed to cater to borrowers at every financial level: Loans up to $10 million – 3.5 per cent, Loans up to $20 million – 3.7 per cent; Loans up to $30 million; – 4.95 per cent; Loans up to $50 million – 5.0 per cent; and Loans over $50 million – competitive rates available upon application.
In addition to reduced rates, Citizens Bank is offering 100% construction financing, with repayment terms of up to 35 years for qualified applicants, 48-hour loan approvals, discounted home insurance premiums, lower attorney fees, and zero commitment or processing fees.
“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,” said Eton Chester, Managing Director of Citizens Bank Guyana Inc. “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,” he added.
Interested applicants can apply Online at citizensbankgy.com, or visit the nearest Citizens Bank branch. Terms and conditions apply, and all applications are subject to the bank’s lending criteria.
