DBL increases mortgage limit to $40M at 5% interest rate

Demerara Bank Limited has announced an expansion of its Residential Housing Loan framework, increasing the lending ceiling from $30M to $40M while maintaining a competitive interest rate of 5% per annum, effective 9 February 2026.

In a statement on Saturday, DBL said under the revised structure, residential housing loans of up to $40M will attract an interest rate of 5% per annum, making it the only commercial bank in Guyana currently offering this level of residential financing.

The Bank believes that access to affordable financing should not become more restrictive simply because housing costs have evolved.

Revised Tiered Interest Rate Structure (Reducing Balance)

• Up to $4,000,000 – 3.5% p.a.
• $4,000,001 to $9,000,000 – 3.7% p.a.
• $9,000,001 to $15,000,000 – 4.5% p.a.
• $15,000,001 to $40,000,000 – 5% p.a.

The bank highlighted that in recent years, the cost of residential construction has increased steadily, driven by rising material prices, labour costs, and contractor fees. “These realities have made it increasingly difficult for many prospective homeowners to complete or comfortably finance their homes within traditional lending limits,” it said, adding the revised loan ceiling is designed to better align financing options with today’s construction environment and the practical needs of borrowers.

The adjustment reflects the Bank’s continued commitment to empowering Guyanese citizens and supporting one of life’s most meaningful milestones of owning a home.

The Bank promotes that homeownership remains a significant achievement for individuals and families, symbolising stability, independence, and long-term security.

DBL says the enhanced lending framework ensures that customers can borrow slightly more, where necessary, without being penalised by higher interest rates. “This approach supports households seeking to build, complete, or purchase homes that meet modern standards of comfortable living,” it added.

The bank says it remains deeply committed to supporting every Guyanese at every stage of life.