SLTF Students Trust Fund : Loan Repayment Ghana
Name of the Organization : Students Loan Trust Fund
Type of Facility : Loan Repayment
Country : Ghana
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Official Website : http://www.sltf.gov.gh/
SLTF Loan Repayment
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.
Related : Trust Fund Ghana Apply Online For Students Loan 2014/15 : www.statusin.org/5039.html
The following schedule of interest rate shall be charged on the loan :
| Moratorium | Repayment Period | ||
| Study Period | National Service Period | 1- Year Grace Period | Repayment Period |
| *GOG182 dayT-bill rate | *GOG182 dayT-bill rate | *GOG182 day T-bill rate | *GOG182 dayT-bill rate + 2% |
Where :
* 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 |
Where :
* 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.
Mode of Repayment
The modes of repayment of loans are as follows :
1. Periodic deductions from beneficiary’s salary by his or her employer.
2. Direct periodic payments to the SLTF by beneficiaries who are not employees of any organization (i.e. sole proprietorship, self employed etc)
3. Outright payment of total loan amount plus interest due.
FAQ On SLPS
What is the SLPS?
The SLPS is the Students Loan Protection Scheme and it is an initiative of the SLTF has instituted to absorb the financial burden on guarantors and families that will result from default in loan repayments caused by death or permanent disability of borrowers.
How much do I pay for protection?
You will be required to contribute 0.5% of your loan to the Students Loan Protection Scheme. This contribution would be in the form of a deduction at source during per each disbursement.
Why do I pay for protection?
This will absorb your guarantor from any liable in case of death or permanent incapacitation. Download SLPS Claim Form | Download Guidelines for Writing Permanent Incapacitation Report
Contact
Students Loan Trust Fund
Hse # 47,3rd Crescent
Asylum Down – Accra
Phone : +233(0)302231886
Fax : +233(0)302231873
Email : info [AT] sltf.gov.gh
Whatsapp : +233(0)504021579
Additional Simplified Procedure
The Students Loan Trust Fund (SLTF) does not have an online application process for loan repayment.
You can make a loan repayment online through the following channels:
** MyGHPay app: You can download the MyGHPay app from the Google Play Store or the Apple App Store. Once you have downloaded the app, open it and sign in with your Ghana Card number and PIN. Then, tap on the “SLTF Loan Repayment” tab. Enter your loan account number and the amount you want to pay, and then tap on the “Pay” button.
** SLTF website : You can also make a loan repayment online through the SLTF website. Go to the SLTF website: https://www.sltf.gov.gh/. Click on the “Loan Repayment” tab. Enter your loan account number and the amount you want to pay, and then click on the “Pay” button.
** SLTF partner banks : You can also make a loan repayment at any of the SLTF partner banks. To do this, you will need to bring your loan account number and a valid ID card to the bank.
When you make a loan repayment online, you will need to provide the following information:
** Your loan account number
** The amount you want to pay
** Your Ghana Card number (if you are paying through MyGHPay)
** Your bank account number (if you are paying through the SLTF website or a partner bank)
Your loan repayment will be processed immediately. You will receive a confirmation email with the details of your payment.
I want to know my outstanding balance.
You are deducting me from CAG. I want to make a top up to finish this early. Can I do that? Where can I make the payment?
I want to check my student loans received for the past three years.
I WANT TO KNOW MY OUTSTANDING BALANCE OF THE LOAN DEDUCTION. I TOOK JUST ONE AND YOU HAVE BEEN DEDUCTING FOR ALMOST TWO YEARS NOW.
I would like to know my outstanding balance.
I started my repayment 2013/2014 and on June 2016. My outstanding balance was supposed to be Ghana 1155.87 but It has been reserved to Ghana 2,380.00.
I want to know the amount I have paid so far.
Am a beneficiary of the student loan, l want to know my payable balance and when will l finish payment (date and year)and since i started payment do the scheme still calculate interest on the principle money or not
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I want to know my outstanding balance of the loan repayment.