Interest Rate
In other to maintain the value of the money and preserve the Fund for posterity, interest is charged on the loan at a highly subsided rate. Inflation is an important factor in determining the interest rate.
The following schedule of interest rate shall be charged on the loan:
|
MORATORIUM |
REPAYMENT PERIOD | ||
| STUDYPERIOD | NATIONAL SERVICE PERIOD | 1-YEAR GRACE PERIOD | REPAYMENTPERIOD |
| *GOG182 dayT-bill rate | *GOG182 dayT-bill rate | *GOG182 day T-bill rate | *GOG182 dayT-bill rate + 2% |
* GOG – Government of Ghana.
# Maximum rate applied will be 12% until reviewed. In effect where the T-bill rate goes beyond 12% the SLTF shall fix the rate at 12%.
Loan Repayment Period
| *Number of Loans taken | National Service Period (Yrs) | Grace Period (Yrs) | Repayment Period (Yrs) |
|
1 |
1 |
2 |
2 |
|
2 |
1 |
1 |
4 |
|
3 |
1 |
1 |
6 |
|
4 |
1 |
1 |
8 |
|
5 |
1 |
1 |
10 |
|
6 |
1 |
N/A |
10 |
|
7 |
1 |
N/A |
10 |
* The total loan received in an academic year is considered as one loan taken
It is in the interest of applicants to pay off their loan sooner than the repayment period given, in order to reduce the interest charges.
Students loan repayment made easy. Please contact our partner banks with your Social Security number to make payments:
A. GHANA COMMERCIAL BANK: SMART PAY
B. NATIONAL INVESTMENT BANK: SPECIAL SLTF PAY IN SLIP
C. ECOBANK GHANA: BANK – COLLECT
Borrowers can also walk in to the head office of the SLTF to make payment at no. 47, 3rd Crescent Avenue Asylum Down, near Highgate Hotel.
The point above should also be placed on the home page conspicuously for visitors to easily see.
We take your conncerns very seriously. Please fill the form to send a message to us and we will get back to you soon. Thank you.
Students Loan Application
Applications for student loans can be made via paper or online.Paper Online
Students Loan Application
2014/2015 Applications have been closed.
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