The Head of Mortgage Business for Republic Bank, Mr. Frank Oppong-Yeboah, has touted the bank’s flexible mortgage repayments – namely the bi-weekly and semi-monthly options – as best in the market for both existing and prospective mortgagors. He made this known when he spoke at the just-ended GREDA Housing Fair dubbed ‘X’perience’, held at the National Theatre, Accra.
According to him, Republic Bank has now made it possible for mortgagors to access other repayment options without changing their monthly instalments. This means mortgagors can now reduce the principal of their loans faster, thereby reducing the tenure of their loans and also making savings up to 40% on mortgage interest payments.
According to Mr. Oppong-Yeboah, Republic Bank has very affordable interest rates on its mortgage products. The bank’s mortgage processes have also been streamlined to provide a great customer experience. “For us at Republic Bank, we have shown leadership in the mortgage business and in making mortgages cheaper and accessible to all Ghanaians.
“We partnered with the government of Ghana on a Public Sector Mortgage Scheme in the early years of the millennial era, whereby public sector workers could access mortgages at a rate subsidised by government. Today, this product has been modified and expanded by the government. Public sector workers can now access mortgages at a subsidised rate of 11.9% for cedi mortgages,” he added.
Republic Bank has been in the mortgage business of Ghana for the past 3 decades, providing affordable mortgage products and services to thousands of Ghanaians, both at home and abroad. The bank, in its effort to further enhance the mortgage experience for all, has introduced two new mortgage repayment plans which provide flexibility and opportunity for mortgagors to pay their mortgage loan and save up to 40% of their mortgage interest.
