Here is the full details of the GNT teachers fund.
The Teachers Fund is a retirement supplement and Solidarity scheme for the Ghana National Association of Teachers (GNAT) established by a Trust Deed in May 1998. The Fund started with a monthly deduction of GHC0.10 (¢1.000) as basic contributions from the salary of GNAT members through a check-off system.
Main Products Of Teachers Fund
There are four main loan facilities that members of the Fund can access to meet their financial needs.
1. PERSONAL LOAN
The Fund carefully designed this facility to meet members’ short-term financial needs such as the payment of school fees, rent advance and any other general repairs at home.
The maximum amount a member of the Fund can access as Personal loan is Thirty-Five Thousand Ghana Cedis (GH₵ 35,000), payable over forty-eight months (48months) or four years (4years).
The ability of a member to access any amount is dependent on the available affordability of the member. One must have contributed to the Fund for a minimum of six (6) months to be able to qualify to access the loan facility.
The following are the relevant documents needed to apply for this facility:
1. A completed Personal Loan application form obtained from the GNAT District Secretariat.
2. Two (2) passport sized photographs
3. Two (2) signed Mandate Forms with different serial numbers
4. A Mandate Request Form (provided by GNAT District Secretariat)
5. A copy of a Valid ID
6. A copy of your recent payslip
2. HABITAT LOAN
This facility has been designed to assist members to undertake their housing projects. It has been put together to support a greater number of GNAT members who desire to solve their accommodation challenges or aspire to build their homes before they retire from active service.
The maximum amount a member can access for this facility is Fifty Thousand Ghana Cedis (GH¢50,000) to be repaid over Five years (5years).
To access the Habitat loan facility, a member must do the following:
1. Complete a Habitat Loan Application Form provided by the GNAT District Secretariat.
2. Two (2) passport sized photographs
3. Two (2) signed Mandate Forms with different serial numbers
4.A Mandate Request Form (provided by GNAT District Secretariat)
5. A copy of a Valid ID
6. A copy of your recent payslip
7. Evidence of land ownership in the form of Indenture, Site Plan, Yellow Card, Building permit etc.
3. INVESTMENT LOAN
The Investment Capital Loan facility is a specialized facility designed to support business ideas of members. The maximum amount available for members to access is Fifty Thousand Ghana Cedis (GH¢50,000) with a repayment schedule of sixty (60) months.
To qualify to access this loan facility one must be an optional contributor with a monthly contribution of at least One Hundred and fifty Ghana Cedis (GH¢150).
The following are the requirements for the Investment Capital Loan facility:
1. A completed Personal Loan application form obtained from the GNAT District Secretariat.
2. Two (2) passport sized photographs
3. Two (2) signed Mandate Forms with different serial numbers
4. A Mandate Request Form (provided by GNAT District Secretariat)
5. A copy of a Valid ID
6. A copy of your recent payslip
7. Evidence of Business Ownership (Business Registration, Invoice etc)
4. VEHICLE LOAN
This facility is meant to finance the purchase of vehicles by loan applicants. It is the only loan facility at the Fund for which cheques are not written in the name of the applicant, but rather it is in the name of the vehicle vendor.
The facility currently has a ceiling of Seventy-Thousand Ghana Cedis (GHC 70,000) and a maximum tenor of 60 months (used vehicles) and 84 months (new vehicles).
To access the Vehicle loan facility, a member must do the following:
1. Completed a Vehicle Loan Application Form provided by the GNAT District Secretariat.
2. Two (2) passport sized photographs
3. Two (2) signed Mandate Forms with different serial numbers
4. A Mandate Request Form (provided by GNAT Secretariat)
5. A copy of a Valid ID
6. A copy of your recent payslip Valuation report of vehicle.
CHECK ALSO ON
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