Mutual Fund Investment Capital Loan: Rate|Chart |Requirements
A mutual fund investment capital loan is a specialized facility designed to support the business ideas of its members. The maximum amount available for members to access is Fifty Thousand Ghana Cedis (GH70,000), with a repayment schedule of sixty (60) months.
Mutual Fund Investment Capital Loan Requirements
To access the Investment Capital loan facility, a member must do the following:
- 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).
- Complete a Investment Capital Loan Application Form provided by the GNAT District Secretariat.
- Two (2) passport-sized photographs
- Two (2) signed Mandate Forms with different serial numbers
- Two (2) colored copies of a Valid ID (Ghana Card)
- Two (2) copies of your recent payslip
- One (1) Affordability Page
- Evidence of Business Ownership (Business Registration, Invoice etc)
How To Apply For GNAT Mutual Fund Investment Capital Loan
- Visit the Nearest GNAT District Office to pick up a Investment Capital 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 Investment Capital 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 Investment Capital 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 Investment Capital 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