What happens if I default HELB Loan?

What happens if I default HELB Loan? – Answer:
Answer: You will be penalized. For each month that remains unpaid you pay a fine of not less than five thousand shillings.

Repay Loan

HELB was established with the aim of not just recovering all matured loans, but to raise sufficient funds to meet the rising loan demand and attain faster turnaround in loan repayments.
It consists of three tiers:

Undergraduate section, which deals with recovery of undergraduate loans
Jielimishe Loan section that is charged with the responsibility of disbursing and recovering of loans from salaried students.
Allocation section charged with the responsibility of collection and updates of loanees’ accounts.
The Debt Management Department is committed to recovering all matured loans with utmost diligence in line with the HELB Act 1995 and in conformity with the dynamic customer expectations.

Repaying your Student Loan

Undergraduate Loan Repayment starts within one year of completion of studies or within such a period as the Board decides to recall the loan whichever is earlier. However, you can make voluntary payments before or after you complete your studies to reduce your loan balance.

Completion of Loan Repayment

Upon completion of loan repayment, kindly seek clearance from HELB. Please note that only HELB and not your employer can confirm your loan repayment status. HELB shall confirm loan repayment completion by issuing certificate of clearance. For clearance, please fill in the Loan Recovery Enquiry form.

Over Repayment

If you overpay your loan, you will receive a refund from HELB and not your employer. To claim refund, please fill in the Loan Recovery Enquiry form.

Click here to access HELB Enquiry Form

Jielimishe Loans (for salaried students)

Jielimishe Loans are due for repayment immediately upon disbursement. Successful applicants shall be notified via e-mail. For any queries on Alternative loans, please fill in the Loan Recovery Enquiry form.

LOAN REPAYMENT METHODS

HELB offers various loan repayment methods as follows:

1.Local Repayment Methods

Mobile Payment Services: M-PESA

Using M-PESA (Safaricom) Money Transfer:

Select pay bill option
Enter HELB business number as 200800
Enter your national ID number as your account number
Enter amount you want to pay
Enter your secret PIN number
Confirm transaction and send

Note: The transaction reflects in your statement immediately after the transaction.

Using M-PESA (Safaricom) Money Transfer for Employers

Upload the remittance schedule
Generate the E-Slip
Go to the M-PESA menu and click on Lipa na M-PESA, then Paybill
Enter 200800 as the business number
For the account details, enter the generated E-Slip number as the account number
Enter your PIN number
You will receive a confirmation message for payment

Nairobi

Electronic Funds Transfer (EFT) Swift Code

CITIKENA

Credit Card or Debit (ATM) Card

Give authority to HELB to make monthly debits or lump-sum payments directly from your bank account or credit card. This is done by signing the CREDIT CARD AUTHORIZATION FORM (CCA) and forwarding the same to HELB. VISA branded credit cards or debit (ATM) cards can also be swiped at HELB offices.

Fill the form with your full name, ID Number, phone number and email address. Then submit.

Diaspora Repayment Methods

Wave

You can make payments instantly from the US and Canada through Wave via KCB Account Number 1103266314,
Go to www.sendwave.com to update/download the app and then make transfers immediately,
Please forward the wave email notification as well as your ID NUMBER to OnlinePayments@helb.co.ke.

World Remit

How to pay HELB using World Remit from diaspora:

Log in to www.worldremit.com
Select the ‘Bank Deposit’ service from the blue ‘Send to’ box on this page
Choose whether to make the transfer to a Kenyan shilling (KES) or US dollar (USD) account
Enter the amount you want to transfer
We’ll show you the highly competitive exchange rate you’ll receive and any fees upfront
Enter recipient’s details KCB ACCOUNT NUMBER 1103266314
Pay online using a credit or debit card
Use your ID number as the reference
You and your recipient will receive SMS and email notification once the transfer is complete
Forward the email notification to OnlinePayments@helb.co.ke

Online Payment via HELB Payment Portal

You can now pay your HELB loan online. To make your payment:
Register an account with HELB online portal, if you already have an account, please log in.
Once logged in, click on Online Services > Online Payment menu.
Enter your National ID number as your account number
Enter the amount you are paying and click Pay Now
A payment acknowledgement will be issued once the payment is successful
HELB will issue an official receipt for the payment

Fill the form with your full name, ID Number, phone number and email address. Then submit.