CCT-GH Fund Shocks Contributors with Major Policy Updates for 2025: New Loan Limits and Benefits Revealed

Ferdinand | EducationGhana |  January 01| CCT-GH Fund Shocks Contributors with Major Policy Updates for 2025: New Loan Limits and Benefits Revealed

Discover the latest CCT-GH Fund policy changes, including increased loan limits, updated interest rates, and enhanced contributor benefits. Learn how these updates impact teachers and borrowers.

CCT-GH Fund Overhauls Policies: Here’s What Every Contributor Needs to Know

The Coalition of Concerned Teachers-Ghana (CCT-GH) Fund has announced sweeping changes to its operational policies to better serve contributors and borrowers.

This bold update introduces increased loan limits, a revised interest rate, and enhanced savings opportunities, reinforcing the Fund’s commitment to contributor welfare.

Key Policy Changes at a Glance

1. Increased Minimum Monthly Contribution

• Monthly contributions rise from GHS 40.00 to GHS 80.00.
• This change enhances contributors’ savings and increases loan accessibility.

2. Higher Loan Limits

• Maximum loan amounts now capped at GHS 30,000, up from GHS 20,000, subject to affordability.

3. Competitive Interest Rates

• The annual loan interest rate increases slightly to 11% but remains the most affordable among competitors.

New Loan Policy Highlights

1. Contributors must save for at least six months to qualify for loans.
2. A single top-up loan is allowed after repaying 60% of an existing loan.
3. Borrowers with fewer than 18 months of continuous contributions are restricted to loans under GHS 20,000.

Pro Tip: Regular contributions ensure access to higher loan amounts and faster approvals.

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Withdrawal Policy: Flexibility with Conditions

Full Withdrawal

• Exiting contributors incur a 50% surcharge and a 2.5% processing fee.
• Withdrawals take up to three months to process.

Partial Withdrawal

• Contributors opting for partial withdrawals face limits on new loans for up to 18 months post-withdrawal.

Exemptions: Retirees, contributors nearing statutory retirement, and humanitarian cases receive waivers.

Why These Changes Matter

CCT-GH Fund emphasizes that these updates aim to enhance the safety, efficiency, and utility of the Fund for contributors.

By increasing savings thresholds and refining loan policies, contributors are empowered to achieve greater financial stability.

Management Statement:

“We want to ensure the Fund remains a valuable resource for contributors and borrowers. These changes reflect our commitment to long-term financial growth and security.”

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