GNAT Mutual Fund Personal Loan: Rate, Chart and Requirements

GNAT Mutual Fund Personal Loan: Rate, Chart and Requirements

The GNAT Mutual Fund Personal Loan is thoughtfully constructed to cover members’ immediate financial needs, such as paying for school costs, a rent deposit, and any other house maintenance. The maximum a Fund member may borrow under a personal loan is 35,000 Ghana Cedis (GH 35,000), which must be repaid over 48 months or four years.

Mutual Fund Personal Loan Requirements

Any quantity that a member can access depends on how affordable it is for them to do so. To be eligible for the loan facility, one must have made contributions to the Fund for at least six (6) months.

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. Two (2) colored copies of a Valid ID (Ghana Card)
  5. Two (2) copies of your recent payslip
  6. One (1) Affordability Page

How To Apply For GNAT Mutual Fund Personal Loan

  • Visit the Nearest GNAT District Office to pick up a Personal 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 Personal 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 Four years, i.e., 48 months.

What is the rate for a mutual fund personal 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 Personal 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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