NAGRAT Reviews Fund Loan Policy, Interest Rate Drops
The management of National Association of Graduate Teachers (NAGRAT) has announced significant changes to its Fund Loan Scheme.
This new review aimed at improving financial accessibility and providing more flexible repayment options for its members.
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Effective Date
According to the notice from the National Secretariat, the revised loan policy will take effect from 1st July 2026 and is expected to strengthen the welfare and financial stability of teachers across the country.
The review comes as part of NAGRAT’s ongoing commitment to supporting members through affordable and accessible financial services.
4 Key Reviews to Look at
1. The interest rate on all loans has been reduced from 12% to 10%, using the reducing balance method.
Under the new arrangement, the interest rate has been lowered from 12% to 10%, calculated using the reducing balance method.
2. The maximum loan amount has been increased and capped at GHS 40,000.00.
In addition, NAGRAT has increased the maximum loan amount available to members. The revised policy now caps loans at GHS 40,000.00, providing members with greater access to funds for personal, educational, business, or emergency financial needs.
3. The maximum repayment period for loans has been extended to five (5) years.
Members can now repay their loans over a maximum period of five (5) years. This extended repayment duration is expected to make loan management more convenient and sustainable for borrowers.
4. A loan top-up facility has been introduced. To qualify for a loan top-up, a member must have paid at least forty percent (40%) of an outstanding loan balance.
The National Secretariat has requested all regional offices to communicate these policy changes to members to ensure widespread awareness and understanding of the revised loan scheme.
Members seeking clarification or assistance regarding the new loan policy can contact the following numbers:
- 0597392595
- 0597302352
- 0256099737
NAGRAT believes these enhancements will greatly support the financial needs and welfare of its members.
By reducing interest rates, increasing loan limits, extending repayment periods, and introducing a top-up option, the association continues to demonstrate its dedication to improving the financial well-being of graduate teachers nationwide.
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