Introduction
The Union of Professional Nurses and Midwives, Ghana (UPNMG) has made a wonderful announcement about their much awaited Loan Scheme. This wouldn't be the time to discuss credibility of UPNMG because that has already been done in our article "UPNMG Online Registration; Switching a Union & Joining as a newly posted Nurse", we won't really be looking into the statement "UPNMG is not credible because they don't have a bargaining certificate" either because if you are smart, you'd probably know that the bargaining certificate for every profession is just ONE and the association of the profession in question that has the highest members gets to hold and use it in negotiations. However, the items they negotiate for, is enjoyed by the whole membership of the profession and not just the members of the association who did the negotiation.
That said, lets talk about UPNMG Loans and how you can apply now.
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| UPNMG loan scheme contact numbers and emails |
Interest Rate
The loan scheme is currently pegged at a cool 11% interest per year, one of the best in the market, and surprisingly, it covers these;
- Processing fee.
- Controller charges.
- Simple Interest
How much can you take?
The amount you qualify for is dependent on your mutual fund contribution to the union. The chat below states the contribution amounts with it's respective maximum loan amounts.
Note: It takes 4 months after upgrading your contribution to qualify to take it's corresponding maximum.
What is UPNMG mutual fund?
You are already on 2 tiers of pension schemes, Tier 1 is your SSNIT contribution . Tier 2 is managed by the Enterprise Trustees, and then Tier 3, is the one you make to your association (as a nurse or midwife). The first two are deducted and payed on your behalf by your employer that's why it appears same on everyone's payslip.
When you join an association, they deduct an amount for your tier 3. Both GRNMA and UPNMG deduct the same amount which is GH₵50. The difference? GRNMA runs a pension scheme which means you only have access to your money when you go on retirement while UPNMG runs a mutual fund offering you access to partial withdrawal after a set number of years (currently 5 years).
It is from this mutual fund you are able to access all other benefits like the insurance scheme, hire purchase, land scheme, loan facility, auto (car and motorbike) scheme etc. That's why the higher you pay, the more loan you can access. Read our article GRNMA vs UPNMG - The Benefits and Policies to know more about UPNMG benefits.
To increase your mutual fund contribution, simply complete the corresponding form on UPNMG Portal by CLICKING HERE. You can always contact UPNMG I.T DEPARTMENT if you have any issues. For starters, you login credentials is you Staff ID for both Username and Password.
What to Know
- To qualify for this particular scheme, one must have contributed to the union for at least FOUR (4) months consecutively.
- The loan repayment period is from six (6) to thirty-six (36) months.
- After taking a loan, you'd have to fully pay it off to qualify for another one.
You may refer to the image below for a rough estimate on how much to expect to pay on your UPNMG loan but this isn't final since "there is an amortisation that is used during loan calculation with the consideration of risk. So what you get might differ a bit from the loans calculator". Instead, use the UPNMG LOAN CALCULATOR on upnmg portal for the accurate calculation.
Requirements
The application process is divided into 7 simple steps. And here's what you'd need at each step.
Personal Info
- Full Name*
- Choose Your Region*
- Date of Birth*
- SSNIT*
- ID Type*
- ID Number*
- Gender*
- Residential Address*
- Work Address*
- Phone Number*
- Work Phone*
- Email Address*
Guarantors
You need two (2) guarantors to successfully apply for a loan. Each of them should avail the following information to you, as you'd need to provide them during the application. It would be best to get your colleague UPNMG members.
- Name*
- Staff ID*
- Phone Number*
- Ghana Card Number*
- GPS Address*
- Occupation*
- Mandate Number*
- OTP Number*
- Relationship*
Don't panic if you don't know how to get the payslip, mandate number or affordability, we'll discuss those soon.
Employment
- Employer*
- Facility*
- Staff ID*
- Employment Start Date*
Loan Details
- Loan Amount ₵*
- Remaining Afordability ₵*
- Loan Terms (Months)* selected: mths
- Monthly Deduction ₵* (Calculated automatically)
- Mandate Number* (Your mandate No.)
- OTP Number* (The OTP from the SMS you got when you generated the Mandate)
- Purpose of loan*
- Name of Account Holder *
- Name of Bank *
- Account Number *
- Branch *
Uploads
Next, you will need to upload the front and back of your Ghana Card (National ID Card) in separate sections.
Preview & Terms
The two final sections are to preview you application to be sure all things are equal, then you agree to the terms in the terms and Voila! All done!
Getting requirements
There are a few things you need to do to verify you can take a CAGD loan from any institution and UPNMG is no different. In this section of the guide, we'll discuss how to download your payslip, generate mandate number and access your affordability from your E-payslip account.
It all entails logging in to your E-payslip so do that;
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| GogPayslip Dashboard |
- Downloading your gogPayslip: Click on "My Payslip" as indicated in the image above by 1. Next, Click on the diskette button at the top of the payslip you want to download as indicated with a red square in the image below.
- Downloading or taking a screenshot of your affordability: Click on "My Affordability" as indicated with 2 in the gogPayslip dashboard image. At that screen, you should see your image and 'Validated' written underneath. If this is not the case, take a passport picture and submit it to your Human Resource Manager (HR) to upload it for you. You can click on the print button to save the page to pdf or simply take a good screenshot of the page.
- Generating a Mandate Number: This number is needed for CAGD to verify that you have really authorized an institution to make deductions from your salary. Click on "Generate Mandate Form" from the dashboard, as indicated with 3 in the image for gogPayslip dashboard. Click on "New Mandate Number" and Click "Generate" in the pop up that will appear.
- Once the number is generated, Click on the "Show" button next to it if you need to view the complete form.
- You should have received an OTP from CAGD via SMS by now, copy both Mandate number and OTP from the message.
Making Inquiry
You can always make inquiry when you are faced with issues, contact one of these based on where you live.
- Northern Sector:
0242215305
northloans@upnmg.com
- Northern Sector:
0242215307
northloans@upnmg.com
Final Thoughts
Applying for a UPNMG Loan is done online. You basically do it from the comfort of your home. You can even do it while lying on your bed, with no need to lift a muscle. Simply visit the UPNMG PORTAL and click on APPLY LOAN. All you do is fill forms and upload certain documents.
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