Demerara Bank launches $100M interest-free housing aid programme

(Kaieteur News) – To honour the birth anniversary and legacy of its founder, the late Yesu Persaud, Demerara Bank Limited (DBL) has launched a $100 million annual housing aid programme to provide interest-free loans to eligible Guyanese families struggling to build their homes.

Through this initiative, eligible families will have access to affordable financing, with the benefit of repaying only the principal amount borrowed, without the additional burden of interest. The programme is designed to make homeownership more attainable while encouraging financial responsibility and long-term stability.

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In a video statement on Sunday, Komal Samaroo Chairman of DBL made the announcement. He said, “Each year, Demerara Bank will set aside $100 million Guyana dollars for interest-free housing loans of up to $6 million per applicant for hard-working families who own or have been allocated land or a turnkey housing unit by the Ministry of Housing, but who cannot afford to build on it.”