In this write-up, Honestynewsgh.com will take you through all you need to know concerning NAGRAT Loans for teachers.
How To Apply for NAGRAT loans online
NAGRAT loans are a type of loan scheme designed to assist teachers in Ghana (NAGRAT members) to access funding to address a range of financial needs, from personal to professional.
The association is the leading union of graduate teachers in Ghana, established in 1990 to protect the professional rights and interests of teachers.
Loans in Ghana, all you need to known before taking a loan
Due to the unique needs of teachers, the government of Ghana initiated the NAGRAT loan scheme. The scheme is primarily aimed at providing financial assistance to its members to help them meet their financial needs. The loan scheme is a membership-based service that only NAGRAT members who are in active service and earn a salary are eligible to apply.
What is the interest rate on NAGRAT Loan?
With effect from September 7, 2020, the
National Association of Graduate Teachers
(NAGRAT) has lowered its interest rates on
Fund loans from 14% to 12%. On September
4, 2020, the Union released a statement
through its president, Angel Agbe Carbonu.
The association has resorted to allowing its
members to apply for loans online.
What are the requirements for a NAGRAT Loan ?
Before a teacher can apply for a NAGRAT loan, there are some requirements that teacher needs to meet. They include:
1. You have to be a member of the
Association (NAGRAT).
2. Must be a consistent payer of Fund
Dues and NAGRAT Dues.
3. The individual must contribute to the
Fund Loan Scheme for at least six (6)
months.
4. Pick up an IPPD form at the nearby
Regional Secretariat and fill it out
How to Apply for NAGRAT Loan Application – Procedure
Remember that one can apply for NAGRAT loans online. Click on the blue link just below these steps to check.
1. One has to be member of the Association (NAGRAT).
2. Must be a regular Fund Dues and NAGRAT Dues paying member.
3. The person must at least contribute six (6) months to the Fund Loan Scheme.
4. Collect an IPPD form from the nearest Regional Secretariat to be filled.
5. Download the Nagrat fund loan application form from here or pick it up from the nearest Regional Secretariat to be filled.
6. Ensure the form is endorsed by the Headmaster for second cycle School and by the Municipal Accountant/District Director for basic schools on the IPPD form.
7. Ensure the guarantor is a NAGRAT member. Affix a passport picture.
Submit original payslip/a photocopy of the payslip. Photocopy national ID/NAGRAT ID card. Finally, forward the filled form to Regional Office.
Again NAGRAT Loans can be applied online , it is very fast and secure.
Click HERE to check how to apply for NAGRAT Loan online.
How To Apply for NAGRAT loans online
Additionally, the loan products are designed specifically for teachers, taking their unique needs into account.
In conclusion, the NAGRAT loan scheme is an excellent financial aid scheme that offers numerous advantages to teachers in Ghana. Whether teachers need assistance to purchase books, computers, or vehicles, the scheme offers tailored loan products to meet their needs. The scheme has played a significant role in easing the financial burden of teachers and enabling them to focus on their teaching careers.
