What is NAGRAT Loan Fund? How to apply Online

The NAGRAT Loan Fund is a financial service exclusively available to members of the National Association of Graduate Teachers (NAGRAT) in Ghana. As a professional body, NAGRAT represents and advocates for the interests of graduate teachers across the country, including those employed by the Ghana Education Service (GES) and other educational institutions.

The fund aims to provide easy and affordable access to loans for NAGRAT members. Members can utilize these loans for various purposes, such as personal development, housing, education, health, or emergencies. NAGRAT has a substantial membership base, with over 31,000 registered members. The NAGRAT Loan Fund operates online through a dedicated portal. Members can apply for loans, check their balances, and manage repayments conveniently via this platform.

Benefits of NAGRAT Loan Fund

1. Low Interest Rates:
   • The NAGRAT Loan Fund offers an attractive 12% annual interest rate.
   • This rate is lower than what most commercial banks and other lenders in Ghana typically charge.
2. Flexible Repayment Terms:
   • Members have the freedom to choose the duration and repayment amount based on their income and affordability.
3. No Collateral or Guarantor Required:
   • Unlike traditional loans, the NAGRAT Loan Fund doesn’t demand collateral or a guarantor.
   • Eligibility criteria and a good credit history are sufficient for loan approval.
4. Transparent and Fee-Free:
   • There are no hidden charges or fees—no processing fees, service fees, or penalties.
   • Members can focus on their financial goals without unexpected costs.
5. Online Convenience:
   • The NAGRAT Loan Fund operates 24/7 online.
   • Apply, check balances, and manage repayments from any device, without physical visits.

How to Apply Loan Fund online

• Go to the NAGRAT Loan Fund’s official site at www.nagratfund.com.

• Sign in with your staff ID and password. If you are a new user, you can use your staff ID and click on “Forget Password” to get a new password by SMS.

• Upload your documents, such as your ID card, mandate form, and payslip, to the site. If you don’t have them, you can obtain them from the Gogpayslip platform or your regional secretariat.

• Upload your guarantor’s details, such as their phone number and staff ID, to the site. The guarantor must be a NAGRAT member with a good credit record and who is willing to back you up.

• Click on the “Apply for Loan” button on the dashboard and complete the application form. You need to give your mandate number, loan amount, repayment period, and affordability details. The system will automatically check if you are eligible for the loan based on your criteria and credit history.

• Confirm your application by entering your staff ID and getting a verification code by SMS. You need to enter the code to finish the application process.

• Send the application form and wait for a response from the NAGRAT Loan Fund. If the application is approved, you will get a notification and a loan agreement that you need to sign and send back to the NAGRAT Loan Fund. If the application is rejected, you can challenge the decision by giving a written explanation and relevant proof to the NAGRAT Loan Fund within 14 days of getting the notification.”

The NAGRAT Loan Fund is a valuable service that helps members of the NAGRAT association to access loans for their personal and professional needs. By applying online, members can enjoy a fast, easy, and convenient way of getting financial support from their own association.