Ghana: Republic Bank Ghana Rolls Out a Campaign Dubbed ‘Ultra-Low Mortgage Interest Rates’ for Homebuyers

One of the leading banks in Ghana, Republic Bank Ghana has rolled out a campaign for homeownership, dubbed the ‘Ultra-Low Mortgage Interest Rates’ campaign.  This offer is for all cedi mortgages that will be disbursed from September 2023 until end of January 2024. It comes as an intervention to the current hike in interest rates, forex rate volatility and other factors that affect home purchase.

The bank has been at the forefront mortgage business from its inception in 1990 as a Home Finance Company. Notwithstanding the increase of mortgage institutions in the industry, Republic Bank remains the preferred mortgage financier and continues to be very instrumental in the mortgage industry of Ghana’s development – supporting many Ghanaians both home and abroad to own homes.

Speaking at the campaign’s launch, Managing Director of Republic Bank, Benjamin Dzoboku, stated that this campaign is a follow-up to the bank’s recent decision to significantly reduce its mortgage interest rates in an effort to make homeownership more accessible and affordable.

“The ‘Ultra-Low Mortgage Interest Rates’ campaign offers homebuyers the opportunity to lock in remarkably competitive rates, making the path to homeownership more attainable than ever before. Our campaign provides a range of flexible mortgage terms to cater for diverse financial needs and goals of our customers, irrespective of the tenure,” he added.

“Republic Bank is dedicated to empowering individuals and families to achieve their homeownership aspirations. We understand the importance of a stable and comfortable home, and our ‘Ultra-Low Mortgage Interest Rates’ campaign is designed to make that dream a reality for as many Ghanaians as possible,” Mr. Dzoboku explained.

In his interaction with the press, Head-Mortgage Banking, Dan Adjetey Mohenu, reiterated that Republic Bank has always been ahead of the competition where interest rate is concerned; and this ‘Ultra-Low Mortgage Interest Rates’ campaign is another confirmation of the bank’s desire to make the homeownership journey easier for all Ghanaians.  He mentioned that buying a house is another option of investment that pays off over a lifetime.

He assured customers of a quick processing time, competitive closing cost, free mortgage advisory services and a complimentary credit card as additional services to the ‘Ultra-Low Mortgage Interest Rates’ offer.

Mr. Mohenu urged everyone, resident and non-resident Ghanaians, considering owning a home to visit the Mortgage Hub at the Bank’s Head Office – or send an email to myhome@republicghana.com – to begin their home ownership journey at the most affordable rate for both cedi and US$-denominated mortgage loans.

Home Purchase, Home Completion, Home Improvement, Home Equity, Build and Own a Home and Pension Backed Mortgages are all products in the cedi mortgage portfolio which are accessible at the most competitive rates under this offer. Existing mortgagors who would like to switch to Republic Bank also get to benefit from the ‘Ultra-Low Mortgage Interest Rates’ campaign.