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For the duration of Republic Bank’s 2023 Commercial Christmas Campaign, the minimum period of repayment for loans may range from less than 12 months to a maximum repayment period of 60 months and up to 20 years for Commercial Mortgages. The periodic interest rate ranges from 3.50% to 12.50%, with a maximum APR offered of 12.50%. For reference, a $250k loan repayable over a 5-year period would attract a total repayment sum of $272,876.17. Actual rates may vary based on repayment terms, loan amount, downpayment, creditworthiness, and other terms and conditions. For all other loans, the agreed rate of interest is fixed for the tenure, however, for mortgages the rate is variable.
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