Republic Bank introduces two new mortgage repayment options; reduces total interest costs by 40%
Mortgage specialist bank, Republic Bank Ghana Plc, has introduced onto the Ghanaian market two new and additional mortgage repayment plans targeted at giving home owners more flexible forms of repayment as well as save on interest paid at the end of the loan term.
Being the first of its kind in Ghana, the two new mortgage repayment options provides customers the ability to save up to 40% of the total interest on the mortgage loan and repay earlier without increasing the loan installment.
Managing Director of Republic Bank Ghana, Farid Antar, commenting on the new mortgage repayment options noted the Bank has over the years been deliberating on effective methods of making home ownership experience less stressful for Ghanaians and also adding value 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,” Mr Antar said.
The new repayment plan is to eliminate the view of mortgage acquisition in Ghana being frustrating and lengthy. The new repayment plan reduces the number of repayment years customers would have to satisfy their mortgage.
“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,” said Mr Antar adding that the core of the Bank is customer satisfaction.
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 Ghanaians home and abroad.
The Bank continues to be the most diversified financial institution in the country and the number one home loan provider.
