Republic Bank launches two new flexible mortgage repayment plans onto Ghanaian market

Republic Bank (Ghana) PLC has introduced onto the market two new and additional flexible mortgage repayment plans that are targeted at giving home owners more flexible forms of repayment and saving on interest paid at the end of the loan term.

This mortgage repayment plan is the first of its kind in Ghana and provides customers the ability to save up to 40% of their total interest on the mortgage loan and repay earlier without increasing the loan installment.

Mr. Farid Antar, Managing Director of Republic Bank (Ghana) PLC, commenting on the announcement said the Bank has over the years been deliberating on methods of making home ownership experience less stressful and value-adding for both existing and potential mortgage customers.

“As a pioneer of the mortgage business in Ghana, our focus has been on coming up with attractive value propositions to aid our diverse customer segments whilst making the entire mortgage journey easy and affordable for them,” he said.

The new repayment plan is to eliminate the view of mortgage acquisition in Ghana being frustrating and lengthy.

He added that the new repayment plan reduces the number of repayment years customers would have to satisfy their mortgage.

Mr. Farid Antar explained that the core of the Bank is customer satisfaction adding that, “we are obsessed with providing Ghanaians an incredible mortgage process through our powerful expertise, knowledge and quick processes. Customers now have many ways of repaying their mortgages, no matter their salary structure. Our customers deserve the opportunity to easily choose the method that makes them most comfortable, and these additional repayment options truly puts the power of choice into their hands.”

The introduction of the new repayment plan is to cement Republic Bank as the bank of choice for all mortgage or homeownership needs, whilst giving its existing and potential customers options that best suit their pockets.

As the pioneer of mortgage banking with over 30 years of experience, Republic Bank has been very instrumental in the Ghanaian mortgage banking space, providing thousands of home loans to Ghanaian’s home and abroad. The Bank continues to be the most diversified financial institution in the country and the number one home loan provider.