Grenada Building
& Loan Association

Church Street, St. George’s
Grenada, West Indies

Phone: (473) 440-2108
Phone: (718) 673-4340
Fax: (473) 440-6685


Mortgage Financing

Share Investments
Special Deposits
General Services


Mortgage Financing

We offer mortgage loans for:

  • Buying Lands
  • Building Homes
  • Renovations
  • Purchasing Buildings
  • Refinancing

GBLA will finance 75% of the value of any property.

The property must be freehold and the applicant must be a member of GBLA and demonstrate his/her ability to repay the loan (membership is obtained through the purchase of subscription shares). There is no application cost and you can benefit from our discounted appraisal fees.

Click here to view the requirements for Mortgage Financing

Click here to view the requirements for Mortgage Financing (Further Charge)


Our repayment policy is flexible and affordable.

  • Up to 20 years to repay
  • Interest of 9% - 9.5% on the reducing loan balance (loans are amortized)
  • Monthly installment payments of principal at a minimum of 5% per annum


Maximum Loan $400,000
Minimum Loan $1,500
Interest Rate 9% - 9.5% per annum on the reducing balance
Maximum repayment period Twenty (20) years
Age Limit 65 Years
Fines 1% per month on the arrears


Share Investments


Subscribed monthly at a rate of $1.00 per share. Together with accrued dividends and payments, shares mature in approximately 8 1/2 years. At maturity the shareholder receives at least $150 for each share purchased. E.g. A person who owns 100 shares receives $15,000.00

Entrance Fee 25¢ per share
Subscription per share $1
Minimum shares offered 5 shares
Maximum shares offered 1000 shares
Dividends 3% - 6% per annum/paid bi-annually
To Cash Shares Share Certificate Required
  • Value of 1 share at maturity (which is about 8 1/2 years) is $150
  • Shares may be withdrawn by giving one-month (1) notice
  • Shares are considered withdrawn if unpaid for twelve (12) months

* All amounts in EC Dollars

Share Loans

Shares loans may be obtained for up to 75% of the cash balance on shares held at an interest rate of 8% per annum.

Maximum Loan 75% of the balance of the account
Minimum Loan $50
Interest Rate 8% per annum
Minimum Repayment $10
To Obtain a Share Loan Share Certificate Required


Preference shares cost $100.00 each. A minimum of 5 shares is recommended. Dividends are paid twice yearly at the rate of between 6-10% per annum. Dividends maybe withdrawn, placed into an interest generating Special Deposit Account or re-invested in the purchase of Ordinary Shares.

Preference Shares are secured long term investments. There is an administrative fee of .25 centrs per share purchased.

Entrance Fee 25¢ per share
Subscription per share $100
Minimum shares offered 5 shares
Dividends 4% - 6% per annum/paid bi-annually
  • Preference Shares are not redeemable but are transferable

* All amounts in EC Dollars


Special Deposit Accounts


Minimum amount accepted: $50.00
Interest Rates:

3.0% from $1.00 to $49,999.00
4.0% over $50,000.00 to $99,999.00
4.5% over $100,000.00 to $249,999.00
5.0% over $250,000.00 to $499,999.00
5.5% over $500,000.00 to $999,999.00
6.0% over $1,000,000.00
Interest is paid 1st January and 1st July

* All amounts in EC Dollars


General Services

  • Mortgage Activity Reports
  • Share Activity Reports
  • Deposit Activity Reports
  • Account Statement for Official Use
  • Standing Orders Acceptance
  • Photocopying of Legal Documents
  • Transfer Orders
  • Third Party Withdrawals
  • Share Certificate Declaration
  • Financial Counselling


© 2006 - Grenada Bulding & Loan Association