Republic Bank expands mortgage push with new ‘mortgage move’ initiative

Republic Bank (Guyana) Limited on Monday announced a new residential mortgage initiative dubbed the “Republic Mortgage Move”, allowing customers with mortgages at other financial institutions to transfer their loans to the bank at an interest rate of 4.70 per cent.
The latest announcement builds on changes introduced earlier this year as local banks continue to expand residential financing amid growing housing demand in Guyana.
On February 16, Republic Bank had introduced revised mortgage offerings, including financing of up to GYD$60 million at an interest rate of five per cent. At the time, the bank said the move was in response to Government’s housing agenda outlined in the 2026 Budget.
Republic Bank had also announced that there would be no lending ceiling on residential mortgages, meaning customers could borrow amounts based on their needs and qualifications.
Under the bank’s mortgage structure announced in February, loans of up to GYD$9 million attracted an interest rate of 3.50 per cent, while amounts above GYD$9 million and up to GYD$20 million were offered at 4.25 per cent. Loans above GYD$20 million and up to GYD$30 million carried a five per cent interest rate.
The bank had also highlighted additional features including extended repayment terms, monthly amortised payments and financing of up to 100 per cent.
In its latest update, Republic Bank said customers with existing residential mortgages between GYD$20 million and GYD$40 million at other banks can now transfer those loans under the “Republic Mortgage Move” initiative and benefit from a reduced interest rate of 4.70 per cent.
Customers will also be able to access additional financing for home improvements, expansion or other needs.
The bank’s updated mortgage rates are 3.50% for amounts up to GYD$9 million; 4.25% for amounts over GYD$9 million and up to GYD$20 million; 4.70% for amounts over GYD$20 million and up to GYD$40 million and 5% for amounts over GYD$40 million and up to GYD$60 million
Additional benefits include up to 100 per cent financing, zero negotiation and attorney fees, extended repayment terms, monthly amortized payments, and online application and document submission.