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Revealed: Improved Benefits Of Teachers Mutual Fund(GNAT)

Nedved
By Nedved | self meida writer
Published 12 days ago - 4043 views

Ghana National Association of Teachers(GNAT)Mutual Fund, Improved Benefits For Teachers

The Fund offers four types of loan to its members. These are Personal, Investment Capital, Habitat and Vehicle loans.

Teachers who contribute monthly to the fund qualified for the following benefits:

PERSONAL LOAN

This is a 12-60 month facility made available to registered members of the Fund who have the Unique Fund Identification Number to enable them to resolve their short-term financing needs. These may include rent advance payments, school fees and funeral expenses.

HABITAT LOAN

This facility has been designed to assist members to undertake housing projects. It has been put together to support a greater number of GNAT members who desire to solve their accommodation challenges or aspire to build their homes before they retire from active service.

VEHICLE LOAN

This facility is meant to finance the purchase of vehicles by loan applicants. The facility currently has a ceiling of GHC 40,000 and a maximum tenor of 60 months and 84 months for used and new vehicles respectively.

On retirement from service, members’ contributions under the scheme are refunded in addition to any income earned thereon.

Members are eligible for the group solidarity package in the event of death and permanent disability.


By Nedved 

Content created and supplied by: Nedved (via Opera News )

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