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February 13, 2026
February 13, 2026
February 13, 2026
February 13, 2026
Demerara Bank Limited is expanding its residential housing loan framework, raising the lending ceiling from $30 million to $40 million while maintaining a competitive interest rate of five per cent per annum.
Under the revised structure, loans up to $40 million will attract five per cent per annum, making Demerara Bank the only commercial bank in Guyana currently offering this level of residential financing at that rate.
The bank said the updated tiered interest rate structure on a reducing balance basis is as follows: up to $4 million – 3.5 per cent per annum; $4,000,001 to $9 million – 3.7 per cent per annum; $9,000,001 to $15 million – 4.5 per cent per annum; and $15,000,001 to $40 million – 5 per cent per annum.
The revision comes amid rising residential construction costs, including materials, labour, and contractor fees. Demerara Bank said the new ceiling aims to align financing options with current construction realities and the practical needs of borrowers.
The bank added that the adjustment reflects its commitment to empowering citizens and supporting homeownership, which it described as “a significant milestone symbolising stability, independence and long-term security.”
The enhanced framework allows customers to borrow more without facing higher interest rates, supporting households seeking to build, complete, or purchase homes that meet modern standards of living.
Demerara Bank said its move also seeks to translate economic growth into meaningful opportunities for citizens, while strengthening communities and helping families achieve their aspirations.
