Financing

St. Lucian banks have a full range of banking and foreign currency services. Cash in local currency can be obtained by credit cards or bank cards through the ATM machines located at most banks. Normal banking hours are from 8:00AM to 2:00PM and banks are open until 5: 00PM on Friday. Banks at the Rodney Bay Marina are also open from 8:00AM until 12:00 noon on Saturday.

Currency and Exchange Rate

The unit of currently used in St Lucia is the Eastern Caribbean Dollar (EC$) but a wide range of currencies such as US$, Canadian dollar, French francs, British pounds and German Marks are freely convertible in our banks. The EC dollar is fixed to the US dollar at the rate of US$1.00 = EC$2.70 and varies in value along with it against the other world currencies.

Mortgages for Non-Residents

Local banks in St Lucia offer mortgages to non-residents for buying both residential and commercial properties. Currently the interest rates are low as LIBOR + 3% (currently 8%) and is available for up to 60% of the purchase price. The maximum term is 20 years. The minimum borrowing is US$250,000.00 and the maximum is US$1.5M. Renovation, new build and land infrastructure cost can also be considered.