UNIVERSITY OF MINES AND TECHNOLOGY (UMaT), TARKWA
GUSSS LOAN APPLICATION FORM
Name of Applicant: …………………………………...…… Staff ID: ………………………..…………
Date of Birth: ………………………..……………………… Tel: ………………………………………..
Date of Joining the Scheme: …………..……………………. Total Contribution: GH¢ ………………....
Basic Salary: GH¢ …………………………………………. Net Salary: GH¢ ………………………….
Balance of loan with other Financial Institutions: GH¢ …………. Loan Repayment Period: …………………
Loan Amount: GH¢ ……………………………………………....
Amount in Words: ……………………………………………………………………………..…………………
Purpose of Loan: ………………………………………………………………………..………………………..
…………………………………………………………………………………………………………………….
Signature of Applicant: …………………………………………… Date: …………………….………………..
Guarantor
1. Full Name: ………………………………………………. Status: ………………………….…………
Signature: ……………………………………………….. Date: …………………………...…………
2. Full Name: ……………………………………………… Status: …………………………………….
Signature: ……………………………………………….. Date: ……………………………………...
Use my GUSSS Contribution
For Office Use
Loans Review Committee Recommended Not Recommended
Signature: …………………………………………………… Date: …………………………...…………
Approved by:
Finance Officer Vice Chancellor
Signature: …………………………………………………… Signature: …………………………………
Date: ………………………………………………………… Date: ……………………………………....
Monthly Repayment: GH¢ …………………………………..
Insurance Premium: GH¢……………………………….……
UNIVERSITY OF MINES AND TECHNOLOGY (UMaT), TARKWA
GHANA UNIVERSITIES STAFF SUPERNNUATION SCHEME (GUSSS)
GUIDELINES FOR GUSSS SPECIAL LOAN
1. Administration of the Loan:
i. There is hereby established the position of Fund Manager.
ii. The Fund Manager shall administer the loan.
2. Interest Rate:
The interest to be charged on rendered loans shall be determined by the GUSSS Management Board every
six (6) months taking cognizance of the prevailing economic conditions.
3. Eligibility:
Active members who have contributed for a minimum period of five (5) years (60 months) and are
assessed to be able to repay the loan before retirement shall be eligible for loans.
4. Loan Amount:
The loan amount to be granted to an applicant shall depend on the following:
i. The accumulated GUSSS contributions of the applicant.
ii. The security to be provided for the loan.
iii. The loan deductible together with other commitments shall not exceed 50% of Net Salary of the
applicant as specified by the Controller and Accountant General’s Department.
5. Loan Repayment:
i. The loan repayment shall be made on equal monthly installment basis deducted at source.
ii. The maximum repayment period shall not exceed 36 months.
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6. Loan Application Procedure:
i. Loan applications shall be writing together with a standard loan form to be collected from the
GUSSS Secretariat.
ii. The completed application form shall be sent to the Fund Manager who will forward same to the
Loan Advisory Committee.
7. Loans Guarantorship:
All loans shall be secured by an insurance cover and any of the following forms of guarantorship.
i. Not more than 60% of member’s accumulated GUSSS contributions.
ii. Two guarantors, both of whom shall be contributors of the Scheme.
8. Loans Default:
In the events of default of the loan or any part thereof through death, retirement, dismissal, resignation,
disability or any other case, any outstanding balance due the Scheme shall be recovered as follows:
i. Deducted from the beneficiary’s accumulated GUSSS contributions.
iii. The guarantors shall be required to pay the balance if the beneficiary’s accumulated GUSSS
contributions do not cover the full debts.
9. Declaration:
I have read and understood the contents of the guidelines for the GUSSS Special loan.
Name of Applicant: …………………………………………………………………………….
Signature of Applicant: …………………….…………………………………………………...
Date: ………………….…………………………………………………………………………
