GNAT Loan Chart 2023. The Ghana National Association of Teachers (GNAT) loan chart is an official payment chart used by the GNAT Fund. This chart provides information about the available loan amounts for beneficiaries categorized into Loan Amount, Interest Rate, and duration of payment.
About the GNAT Loan
GNAT Loan is a carefully designed support fund that aims to redeem members’ short-term financial needs such as payment of school fees, completing a building project, acquiring a car, and investments. The maximum amount a member of the Fund can access ranges from Fifty Cedis (GHS 50.00) – Seventy thousand Cedis GH₵ 70,000) payable over forty-eight months 48 to 60 months.
Purpose of the GNAT Fund
The GNAT teachers fund was formed with the following objectives;
1. To provide retirement supplements to members
2. To provide lifestyle enhancing facilities to members in the form of loans
3. To facilitate access to credit purchases
4. To engage in property development and real estate activities by way of investment
GNAT Loan Chart 2023
The GNAT Loan Chart has categorized repayment structures under;
- Interest on the loan
- Total repayment and Monthly deduction
- Read Also: NAGRAT Loan Chart
- Access GOGpayslip ePayslip online
- Print GOGPayslip E-payslip Online
- How to Buy ECG Prepaid Online
GNAT Loan Interest
- The GNAT loan amount ranges from GhS 50.00 to GHS 70,000.00 depending on each teacher’s affordability and the type of loan package.
- GNAT maintains an average interest rate for all beneficiaries at 16% serving as the lowest in the Ghanaian market under the Pre-tertiary Education Unions.
How to Calculate GNAT Loan Interest
If you should take a loan of GHS 10,000 (Principal) from the GNAT Fund, your total interest on the principal amount will be GHS 1,850.02 for a period of 6 months with a monthly deduction of GHS 308.33