Republic Bank offers 4.70 per cent rate to switch mortgages

Republic Bank (Guyana) Limited on Tuesday launched its “Republic Mortgage Move” initiative, offering customers with existing residential mortgages at other banks interest rates as low as 4.70 per cent to transfer their loans.

The offer applies to residential mortgages valued between $20 million and $40 million and allows customers to access additional financing for home improvements, expansion or other personal needs.

The announcement follows the bank’s February 2026 mortgage programme, which introduced a five per cent interest rate for loans of up to $60 million. Republic Bank said it has also removed lending ceilings on residential mortgages, allowing customers to borrow based on their qualifications and financing needs.

Under the bank’s revised mortgage structure, loans up to $9 million attract a 3.50 per cent interest rate, while loans above $9 million and up to $20 million carry a 4.25 per cent rate. Mortgages above $20 million and up to $40 million qualify for the 4.70 per cent rate, while loans above $40 million and up to $60 million attract a five per cent rate.

The bank said additional features include up to 100 per cent financing, no negotiation or attorney fees, extended repayment terms, monthly amortised payments, and online application and document submission. Republic Bank said the initiative is aimed at expanding access to affordable housing finance for low-, middle- and high-income Guyanese.