Demerara Bank Limited has announced the launch of its “A Loan that Brings You Home Promotion” which commenced on August 2.
This promotion, it stated, comes at a time of rapid growth in the housing sector, and presents a “golden opportunity” for Guyanese to achieve their dreams of homeownership.
The promotion runs from August 2 to 27, and according to the release, “opens a unique window of opportunity for aspiring homeowners.”
The bank explained that its promotion caters to a variety of customers, including those keen on purchasing young professional housing units, low-income housing units, as well as those doing home renovation projects, construction, and property acquisition. And for those seeking to elevate their living spaces, the Bank is offering increased amounts on existing loans to facilitate the completion of essential auxiliary works such as fences, landscaping and other improvements. The release informed that customers submitting and obtaining loan approvals during this period will enjoy a suite of benefits, including a waiver of processing fees, 50 per cent waiver of attorney’s fees, waiver of site inspection fees, competitive equity contribution, no anticipatory interest on principal payments, as well as competitive annual interest rates – 3.5% up to $4 million, 3.75% up to $9 million, 5.7% up to $20 million. For above $20 million, customers can benefit from a rate as low as 6.9% calculated on the reducing balance.
At the end of the promotion on August 27, there will be the Grand Drawing, set to take place on the final night of the International Building Expo. Here, one lucky customer will see their interest rate slashed by 50%, the release added.
For further details, visit the bank’s website www.demerarabank.com or reach out to its Credit Department on 225-0610-8.
