NAGRAT Fund Loan New Repayment Schedule for Teachers – Download Here

NAGRAT Fund Loan New Repayment Schedule for Teachers

National Association of Graduate Teachers (NAGRAT) has released an updated repayment schedule for the beneficiaries of NAGRAT Fund Loan.

The NAGRAT Fund Loan new repayment schedule for teachers and beneficiaries is effective 7th September, 2020.

The Chart has categorized repayment structures under;

1. Principal

2. Duration

3. Interest on loan

4. Total repayment and

5. Monthly deduction

According to the NAGRAT Fund new loan schedule, the principal amount ranges from Gh¢1,000.00 to GH¢40,000.00 depending on each teacher’s affordability.

The duration for repayment is spread across six (6) to forty-eight (48) months period for beneficiaries.

For example, if you take a loan of GH¢5,000

(Principal) from the NAGRAT Fund, your total repayment amount is GH¢5,600 for a period of 12 months with a monthly deduction of GH¢466.67. This means that, the interest rate on the loan for the 12 months period is GH¢600.

Leadership of NAGRAT has therefore said, any member of the Association, who is interested in the Loan package should contact their District NAGRAT office or the leadership for assistance.

Find below, the detailed NAGRAT Fund Loan Repayment Schedule for teachers.

SOURCE: Coverghana.com.gh