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.
Recently there has been some amendments on the contribution package which teachers need to know.
Checkout below
To pick the Maximum loan thresholds:
- Personal loan maximum amount: 35,000.00
Monthly Contribution to qualify: at least 200.00
Total contribution to qualify: at least 5,250.00
- Investment or business loan maximum amount: 50,000.00
Monthly Contribution to qualify: at least 250.00
Total contribution to qualify: at least 7,500.00
- Habitat Loan Maximum amount: 60,000.00
Monthly contribution to qualify: at least 300.00
Total Contribution to qualify: at least 9,000.00
- Vehicle Loan Maximum amount: 70,000.00
Monthly Contribution to qualify: at least 300.00
Total Contribution to qualify: at least 10,500.00
Note:
- a. Any other amount apart from the maximum
Monthly contribution to qualify: at least 1% of the loan amount requested:
(E.g. 10,000 =100.00, 15,000.00 = 150.00, 17,000.00 = 170.00 etc.)
1 b. Total contribution to qualify: at least 15% of the loan amount requested.
(E.g. 10,000.00 = 1,500.00,
15,000.00 = 2,250.00, 17,000.00 = 2,550.00, 30,000.00 = 4,500.00 etc)
- A total contribution of 15% of the loan amount requested applies to all types of loans
- Affordability will be checked to verify whether it is enough to service the loan amount you intend to pick.
- The effective date of implementation is Thursday 1st February, 2024.
- Things indeed for loan
a. One passport-sized picture
b. Current pay slip
c. Two separate mandate forms ( with the messages from CAGD)
d. Colour photocopy of Ghana card - To increase your contribution above the minimum 100.00, Kindly send the following details to the District Secretary through SMS or WhatsApp:
- Full name
- Staff Id
- Amount to increase
