The Management of the Ghana National Association of Teachers GNAT has officially disclosed to their members that the Teachers Mutual fund interest rate is 16% and not 18% as speculated by some section of members.
In an official statement, the management of GNAT Teachers fund stated that they have noticed that the current Application Form for Habitual Loan and Investment loan carries an error percentage of 18% as interest rate making some members think that the interest rate for the two loan products is 18%.
Teachers’ fund team wishes to officially state clearly that the interest rate is 16% for all mutual fund loans.
The Management of Teachers funds is encouraging all their District Secretariat to take the necessary steps to explain to all members that the interest rate for all four mutual fund loans is 16%.
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