GNAT Mutual Fund Habitat Loan: Rate, Chart and Requirements

GNAT Mutual Fund Habitat Loan: Rate, Chart and Requirements

The GNAT Mutual Fund Habitat Loan has been created to support members as they complete their housing projects. It was created to assist a larger group of GNAT members who wish to address their housing issues or aspirationally build their homes before they leave active duty. The most a member can borrow from this facility is 70,000 Ghana Cedis (GH70,000), which must be returned over five years.

Mutual Fund Habitat Loan Requirements

To access the Habitat loan facility, a member must do the following:

  1. 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).
  2. Complete a Habitat Loan Application Form provided by the GNAT District Secretariat.
  3. Two (2) passport-sized photographs
  4. Two (2) signed Mandate Forms with different serial numbers
  5. Two (2) colored copies of a Valid ID (Ghana Card)
  6. Two (2) copies of your recent payslip
  7. One (1) Affordability Page
  8. Evidence of land ownership in the form of Indenture, Site Plan, Yellow Card, Building permit, etc.

How To Apply For GNAT Mutual Fund Habitat Loan

  • Visit the Nearest GNAT District Office to pick up a Habitat Loan Form.
  • Check your affordability and see how much you qualify for.
  • Fill out the form and attach Two (2) guarantors who contribute to the teachers fund.
  • Submit the form with the above documents to the GNAT District Office.
  • Wait until you are called to pick up your check at your mother district, i.e., the district on your payslip.

How Can I Access The GNAT Mutual Fund Habitat Loan Chart?

Visit the Nearest GNAT District Office for the chart. The Chart entails the Loan Amount, Interest rates, and Repayment period. Note that personal loan repayment ends after Five years, i.e., 60 months.

What is the rate for a mutual fund Habitat loan?

The rate of a mutual fund personal loan as of 2023 is 16% per year. Thus, to get the accurate interest and principal amount to be paid at the end of the day, one has to use the Teachers Fund Loan calculator.

How Long Does It Take to Get A Habitat Loan from the Teachers Fund?

It usually takes 10 working days for you to receive your loan after your application. How do I Know if my personal loan form has been rejected? To track your loan application status, wait for about 5 working days after submission and log in to your E-Payslip portal to check your affordability. If it indicates that there has been a debit transaction from the Teachers Fund, then you are good to go; if not, then your loan form is likely rejected for some reason.

Reasons For Rejection of Loans From GNAT Mutual Fund

  • Low Affordability
  • The member has not contributed for Six Months
  • The member’s total contribution is not at least 10% of the Requested loan amount.
  • A member has not filled out a Membership Form to obtain a fund ID
  • A member wrote invalid Mandate numbers and pins. Note: The generation of the mandate number and pins is the common reason among all. Make sure to provide two (2) different mandate numbers with their corresponding four-digit pins.
  • Member exited from the fund.
  • A member is due for Retirement

How To Contact GNAT Mutual Fund

If you have any questions or need help,
feel free to contact us

Call Center: +233 302 429888
CRM: +233 302 429860
Number 59, 7th Avenue Extension
North Ridge, Accra

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