HELB loan has been of integral importance to many students joining campus. For decades, it has enabled students from needy families to continue with higher education.
Applying the loan is easy since is a loan without collateral. Simply access to the website, fill in the application form and follow the instructions given.
Repaying the loan requires you to know various loan clearance methods: using M-Pesa pay-bill number 200800, direct bank deposit, and use of ATM card.
Being able to apply for the loan using HELB portal or mobile application is pretty simple. The same case to repaying your loan using pay bill number or the bank accounts. Here is a guide to take you through the different types of loans offered and how to repay the already disbursed loan.
Different categories of loans offered by HELB:
High Education Loans Board (HELB) is a government body aiming at assisting needy students pursuing higher learning financially. The organization provides loans, scholarships, and bursaries to qualified university students.
1. Undergraduate Loans
Loans under this category are offered to students admitted to public universities through the Joint Administration Board (JAB) or attending private universities.
2. TVET Loans.
Students attending Technical, Vocational and Educational Training Institutes enjoy this kind of loan.
3. Alternative Loans
These are loans offered to postgraduate and undergraduate salaried students. The loan is repayable in four years. The loan is awarded according to the applicant’s ability to pay.
To be offered this loan you must have an account which is done online. The account will also allow you to apply for the loans and applying for the Compliance Certificate upon repaying the loaned amount.
How to apply for HELB loan
Follow this procedure to create the account;
1. Make sure you are connected to an internet connection and use browsers such as Chrome, Opera and Mozilla then visit www.helb.co.ke
2. Click the registration tab then applicant registration.
3. Click “Register” and fill in the required information which is full names as they appear in your identification card, ID number, a valid email address, and your password.
4. Click “sign up” to receive an activation email.
5. Check your email and activate your account by clicking the HELB activation link.
6. Go to HELB portal and log in to your account.
7. Fill in your details and click “save”.
You are now ready to apply for a loan. But before the whole process is successful, HELB needs some information for verification and clarification.
HELB Loan Application Requirements
For you to apply for a HELB loan, you are required to have the following:
1. Identification Card Number.
Your identification card number is one of the most important requirements when applying for a HELB loan. The number will also be used as your account number when repaying your loan. Also, you’re required to attach a copy of your original ID card on the final printed copy of your application form.
Can I benefit with HELB loan without an ID card? No, In case you haven’t attained the age of getting an ID card, you have to wait to benefit from HELB loan.
2. Email address
A valid email address is necessary since it will be used to log in into your account and it will serve as a communication channel with HELB.
3. KRA Pin
All government agencies use KRA pin. So you must have it for your loan application to be successful. Visit a cybercafe to get a KRA pin if you don’t have.
4. Bank Account Number
It is mandatory to have a bank account since HELB does not give direct cash. Make sure you’ve opened a personal bank account before applying for the loan.
HELB prefers the following banks:
- Kenya commercial bank(KCB)
- Equity Bank
- National Bank of Kenya
- Cooperative Bank of Kenya
At least two guarantors are required for you to apply for HELB loan. The guarantor’s details including their identification number, telephone number, and email address should be filled in the application form. Also, a copy of their identification card should be attached to the printed form.
6. Copies of Academic Certificates
KCPE and KCSE certificates are required to verify the information filled in the education background part.
7. Parents/Guardian details.
Parents details including name, marital status, source of income, level of education, employee details if employed are to be filled in the application form.
- Death certificate copy in case of death of the parent(s)
- Letter from school and sponsor if necessary.
- A copy of the admission letter of the institution being admitted to.
After finishing the application process, download and print the filled form and ensure the relevant authorities stamp it.
Sign the application form and attach the required documents. Then drop the form at any Huduma Centre across the country or at HELB head office anniversary towers 19th-floor university way.
How to Repay HELB loan
Upon completion of studies, one is required to repay the loan together with the accumulated interest of 4% per annum. Loans are repaid one year after completion of studies or when HELB decides to recall the loan. Loan defaulters are charged a monthly penalty of Ksh 5000 if they fail to repay the loan.
If you fail to repay the loan, your details are circulated to all financial institutions displaying an adverse credit history. Meaning any lending institution can’t loan you until you repay the loan.
So what procedure(s) to follow when repaying your loan?
Fully paid HELB loan will help you to avoid fines and build a good credit history. Failure to pay can end you up being listed as a defaulter with CRB. If you’ve not been paying your loans, you need to check your CRB status.
Once you pay HELB loan, you’ll receive a clearance certificate which is a very crucial document when applying for government jobs.
Let’s see how you can pay for your HELB loan using the certified methods of making payments.
You can use different ways of making transactions to repay your loan;
How to Pay HELB via MPESA Paybill
Follow the procedure below to make your payments using HELB M-Pesa paybill number 200800.
Here’s how to pay your HELB loan using MPESA paybill number.
- Go to M- pesa menu and select Lipa na M – pesa.
- Click paybill and enter 200800 as a business number for HELB.
- Enter your identification number as account number
- Enter the amount you wish to pay followed by your correct M-Pesa pin
- Check whether you entered the correct details if the okay press is OK.
- Wait for M-Pesa transactions message.
Note that Mpesa costs for paybill transactions will apply.
Repay HELB via bank deposit
All payments should be made using swift codes in the selected banks. Some of the banks include
Bank Account number
- Kenya commercial bank. 11032663314
- Equity Bank. 0550293573408
- Barclays bank. 0775018216
- Family bank. 035000024971
- Co-operative Bank. 0112906122280
It will take up to two working days for the transaction to reflect on your statement.
Other methods which can be used include:
HELB loan repayment via credit card
To pay your loan using a credit card, visit HELB office fill and sign the Credit Card Authorization Form.
How to pay via Equity Bank ATM
When using the Equity Bank ATM card;
- Insert your ATM card into the ATM machine.
- Enter your pin
- Select “paybill”
- Select HELB
- Enter your national ID number as your account number, press OK and follow the instructions given.
- Wait for the transaction confirmation message.
HELB issues a certificate of clearance if you repay all your loaned amount. Apply for the certificate on the HELB portal after paying Ksh 1000 processing fee. Download the form, fill it and drop it to HELB offices or any Huduma Center in the country.
HELB mobile application
HELB has created an android app which allows users to enjoy their services online. After downloading the app you need to register using your ID number as your account number.
The app provides services such as:
- Mini statements
- Loan disbursement status
- Loan application status
Download the app from the Google Play Store to enjoy the services.
HELB offers other products such as Afya Elimu Loans, Training Revolving Fund(TRF) and Jielimishe loans for needy students.
For first-time loan applicants, ensure you follow the procedure outlined above and remember to have all the requirements for your loan application to be successful. As for those clearing their loans, make sure to print the HELB clearance certificate for it will come in handy when applying for jobs.