NAGRAT–GCB Loan Guide 2025: Eligibility, Repayment Chart, and Application Procedures.


NAGRAT–GCB Loan Guide 2025: Eligibility, Repayment Chart, and Application Procedures.

The National Association of Graduate Teachers (NAGRAT) continues to provide reliable financial support to its members through its Fund Loan Scheme. 

This initiative, designed exclusively for teachers, combines flexible repayment options with competitive interest rates to help members meet personal, educational, and emergency financial needs.

In this guide, we explore the 2025 NAGRAT loan structure in detail—including the latest repayment chart, eligibility requirements, application procedures, and the enhanced partnership between NAGRAT and GCB Bank.

Overview of the NAGRAT Fund Loan (NFL)

The NAGRAT Fund Loan (NFL) is a welfare-driven initiative that enables members to access affordable credit using their monthly contributions as collateral. The scheme aims to promote financial empowerment among teachers by providing a sustainable savings and borrowing system.

Key Features:

  • Interest Rate: 12% per annum on a reducing balance basis, which means interest is calculated on the remaining loan balance, not the full principal.
  • Purpose: Funds can be used for educational costs, home improvements, emergencies, or other personal needs.
  • Repayment: Automatic salary deductions through the Controller and Accountant-General’s Department (CAGD) payroll system.
  • Loan Tenure: From 6 to 48 months, depending on the amount borrowed.
  • Maximum Loan Amount: Up to GHS 40,000, depending on contribution level and affordability.

This welfare-focused arrangement ensures that profits are reinvested into the fund for enhanced member benefits, including future retirement support.

Eligibility Criteria

To qualify for a NAGRAT loan, members must meet the following conditions:

  1. Active Membership: Applicants must be registered and contributing members of NAGRAT.
  2. Fund Contributions:
    • Minimum monthly contribution: GHS 105 (revised from GHS 55 as of 2025).
    • For loans above GHS 20,000, monthly contributions should be increased to around GHS 200 or more.
  3. Contribution Period: A minimum of 6 months of consistent contributions is required before applying.
  4. Affordability Limit: Loan repayments should not exceed 40–50% of the applicant’s net salary.
  5. No Outstanding Defaults: Previous loans or dues must be cleared before reapplying or topping up.
  6. Guarantor Requirement: Each applicant must have a guarantor who is also a NAGRAT member with verified details.

NAGRAT Loan Repayment Chart (Effective 2025)

Below is the updated repayment schedule at a 12% interest rate. It outlines the principal, interest, total repayment, and monthly deduction.

Principal (GHS) Duration (Months) Interest (GHS) Total Repayment (GHS) Monthly Deduction (GHS)
1,000 6 60 1,060 176.67
5,000 12 600 5,600 466.67
10,000 12 1,200 11,200 933.33
10,000 24 2,400 12,400 516.67
15,000 36 5,400 20,400 566.67
20,000 48 9,600 29,600 616.67
30,000 48 14,400 44,400 925.00
40,000 48 19,200 59,200 1,233.33

Note:

  • Interest is computed monthly on a reducing balance.
  • Early repayments attract no penalty, though administrative fees may apply.
  • Defaulters risk suspension or legal action for loan recovery.

How to Apply for a NAGRAT Loan (Step-by-Step Guide)

  1. Become a NAGRAT Member:

  2. Set Up Fund Contributions:

    • Access the NAGRAT Fund Portal: https://www.nagratfund.com/.
    • Log in with your Staff ID (reset password if necessary).
    • Update your profile and start contributions (minimum GHS 105/month).

  3. Prepare Required Documents:

    • Two passport-size photos.
    • A valid Ghana Card (colored copy).
    • A recent payslip.
    • Two signed mandate forms (different serial numbers).
    • Affordability form from e-payslip.

  4. Submit Application Online:

    • Visit https://www.nagratfund.com/ and log in.
    • Upload all necessary documents.
    • Select “Apply for Loan,” input the amount and duration, and provide your bank details.
    • Enter your guarantor’s Staff ID and confirm with their OTP.
    • Submit the application and await approval.

Processing Time:
Loan applications are typically processed within 2–4 weeks, depending on verification and fund availability.

How to Generate Your Mandate Number.

The mandate number authorizes salary deductions. Follow these steps:

  1. Log https://www.gogpayslip.com into 
  2. Go to “Generate Mandate Form” or “Third-Party Deductions.”
  3. Select NAGRAT Fund Loan as the deduction type.
  4. Enter the desired loan amount and repayment duration.
  5. Generate the mandate form, verify with OTP, and download.
  6. Repeat the process to create a second mandate form (with a different serial number).

NAGRAT–GCB Bank Loan Partnership (2025 Update)

Through a strategic collaboration, NAGRAT and GCB Bank now offer extended loan packages for members who receive their salaries through GCB.

Key Highlights:

  • Interest Rate: 20% (discounted from the regular 22% for NAGRAT members).
  • Maximum Amount: Up to GHS 700,000.
  • Tenure: Up to 60 months.
  • Eligibility: Must have an active GCB salary account.
  • Benefits: Quicker processing (within 24 hours), insurance cover, and flexible repayment.

To apply, visit a GCB branch with your NAGRAT endorsement letter and completed loan form.

Smart Borrowing Tips

  • Use the online repayment chart to calculate affordability before applying.
  • Increase your monthly contribution early if you plan to take a higher loan.
  • Avoid taking multiple loans simultaneously.
  • Always keep your NAGRAT Fund Portal updated to prevent delays.
  • Seek financial guidance from your regional NAGRAT secretariat when necessary.

Final Note

The NAGRAT loan scheme remains one of the most accessible and affordable financing options available to teachers. Whether you choose the regular Fund Loan or the GCB partnership package, consistent contributions and responsible borrowing will ensure you benefit fully from the initiative.

For official details and updates, visit https://www.gogpayslip.com or https://www.gogpayslip.com

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