GBTI’s “Drive Home” campaign brings easy financing for homeownership

…pre-approval for loans on the spot at Building Expo 2022

The Guyana Bank for Trade and Industry (GBTI) on Friday introduced its “Drive Home” campaign, creating an avenue for easier homeownership and financing. This promotion will culminate with Building Expo 2022, on July 24.

Targeted groups in this campaign are persons who wish to purchase or build a home; those who maintain mortgages and want to switch to GBTI; or those that have existing mortgages and want to benefit from added value. At the expo, pre-approval for loans will be done on the spot.
Business Development Manager Rawattie Mohandeo shared, “As an individual, homeownership is the single largest investment that you can make and by doing that, it allows you the opportunity to make wise financial decisions”.
In continuing to promote affordable retail banking opportunities, GBTI is also active in enabling easy financing for the acquisition of land as well as lowered interest rates. Additionally, the bank will be partnering with selected furniture, appliance and hardware stores for new homeowners to complete their homes.
“We invite persons to learn about what we’re offering…You can apply online or visit any of our 12 branches countrywide. We’re the best in the market. We promise that once you come to us, we will have a quick turnaround time on the spot.”
Those who have successfully acquired a loan or related services with the Ministry will have a chance to win a new Toyota SUV.
Permanent Secretary of the Housing and Water Ministry, Andre Ally related that such efforts foster homeownership but also contribute to affordable housing solutions for all Guyanese.
“It is a good time to be a Guyanese living in Guyana. The world is coming out of a pandemic and while a majority of countries around the world are in a steep economic decline. We, in Guyana, are fortunate to have one of the fastest-growing economies in the world. We are seeing banks across the world increasing interest rates and now in Guyana, we have banks in Guyana like GBTI that are decreasing the rates,” the PS outlined.
The focus was drawn to the multiplier factor that will be drawn from this initiative, as Ally pointed out increased employment in the construction sector, higher disposable income in the economy, and improved standard of living.
“The initiative supports the mandate of the Ministry of Housing and Water in providing affordable housing solutions to all Guyanese. It also helps to support the manifesto promise of the Government of Guyana, delivering 10,000 house lots annually.”