PRESS RELEASE: New GIRIWAWE mortgage features introduced to simplify homeownership

Kigali, October 10, 2024 - The Development Bank of Rwanda, BRD, in collaboration with the Government of Rwanda, is proud to unveil new enhancements towards GIRIWAWE, focusing on increasing access to affordable house ownership for Rwandans. This newly upgraded mortgage product avails more flexibility to individuals and families willing to buy, build, renovate, or complete their homes. The GIRIWAWE mortgage continues to target two categories of household income. A household income category not exceeding RWF 1,200,000 has a mortgage offer of a maximum of RWF 40 million at a maximum interest rate not exceeding 11%, repayable in a period going up to 25 years. A household income category between RWF 1,200,000 and RWF 1,500,000 will have a mortgage offer not exceeding RWF 60 million at a maximum interest rate of 13%, equally repayable in a period going up to 25 years. Significantly, the new features of this mortgage product, GIRIWAWE, allow borrowers to use the funds not only for house purchasing but also for construction, renovations, and finishing a house. This is a new development that fits into the commitment of BRD in responding to the need for affordable housing. Furthermore, the new revision of the eligibility criteria has dropped the requirement for applicants to be a first-time home or plot owner, thus making this mortgage more accessible to more people. Eligible candidates should not miss this new opportunity; the window is almost closing for applying for the GIRIWAWE mortgage. BRD is committed to empowering Rwandans and helping them to achieve their dreams of homeownership. For more details about the GIRIWAWE mortgage or to apply, please visit giriwawe.brd.rw or call our help desk toll-free number 3288. You may also approach any of our partner financial institutions, including Bank of Kigali Plc., BPR Bank, NCBA Rwanda, Bank of Africa, Zigama CSS, and Umwalimu SACCO. -- About BRD plc: The Development Bank of Rwanda (BRD) is Rwanda’s foremost development finance institution, dedicated to supporting the country’s socio-economic development by providing long-term financing to key sectors of the economy. Established in 1967, BRD has been instrumental in financing projects that drive Rwanda’s growth, particularly in infrastructure, agriculture, affordable housing, green finance, and export sectors. BRD is committed to sustainable development and continues to innovate in providing financial solutions that support Rwanda’s Vision 2050. For the past 57 years since our establishment, BRD is proud to be a strong pillar of Rwanda’s development journey. Our mandate is to ensure that the private sector plays its role of investing in sectors critical to achieving the National Strategy for Transformation and the Sustainable Development Goals (SDGs) by availing affordable, long-term, and customised development finance. For media inquiries, please contact: Keith NTAGOZERA, BRD Marketing Officer Phone: +250 788 298 896 Email: k.ntagozera@brd.rw

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PRESS RELEASE: New GIRIWAWE mortgage features introduced to simplify homeownership