Home Finance How To Repay HELB Loan Using Mpesa 2019

How To Repay HELB Loan Using Mpesa 2019

by Victor Matara

This is a simple guide on how to repay your HELB loan through Mpesa as of 2019. HELB( Higher Education Loans Board) is a state-owned corporation which was established in 1995 to provide affordable loans, bursaries and scholarships to students pursuing higher education in recognized Kenyan institutions.

These loans can either be for Direct Entry Students (DES) or salaried students.

  • Direct Entry Students (DES) Loans

These loans are for students joining public or private universities within the East African Community directly from high school either through the Kenya Universities and Colleges Central Placement Service (KUCCPS) or as self-sponsored. Amounts awarded range between 35,000 minimum and 60,000 maximum based on the level of need. The loan attracts an interest of 4% p.a and the students are required to repay their loans on completion of their studies.

  • Salaried Students Loans

These loans target Postgraduate (Masters & PhD) and Undergraduate salaried students who are able to repay their loans while studying. The loans are evaluated and awarded on the ability of a student to pay while studying at an interest rate of 12% p.a and repayable in 48months.

Awards (per year)

PhD- Kshs: 60,000 – 200,000
Masters -Kshs: 60,000 – 200,000
CE -Kshs: 60,000 – 100,000

Undergraduate Loan Repayment starts within one year of completion of studies and on this post, we have done a simple guide on how you can repay your loan using Mpesa. Failure to repay your loan, you will a attract a monthly penalty of Ksh 5,000. You can pay a minimum of Ksh 1500 per month to avoid the 5000 monthly penalty.

How To Repay HELB Loan Using Mpesa

1. Go to your Mpesa Menu

2. Select Lipa na Mpesa

3. Select Paybill

4. Enter 200800 as the business number

5.Enter your national ID number as your account number

6. Enter the amount you want to pay

7.Enter your Mpesa pin and press OK

8. You will receive a transaction confirmation message from Mpesa.

Please note that the transaction will take 2 business days to reflect on your statement.

You can also repay the loan using a crossed cheque, bankers draft, direct transfer/standing order/EFT or cash deposit to HELB collection Account in any of the following banks.

Bank

Account Number

Branch

Electronic Funds Transfer (EFT)

Kenya Commercial Bank

1103 266 314

University-way

SWIFT CODE : KCBLKENX

Family Bank

035 000 024 971

Family Bank Towers

SWIFT CODE : FABLKENAXXX

Co-operative Bank

011290 612 228 00

University-way

SWIFT CODE : KCOOKENA

Barclays bank

501 8216

Barclays Plaza

SWIFT CODE : BARCKENX

Standard chartered Bank

010 801 826 4700

Koinange street

SWIFT CODE : SCBLKENX

Equity bank

055 029 357 3408

Equity Center

SWIFT CODE : EQBLKENA

National Bank of Kenya

010 016 039 1100

Harambee Avenue

SWIFT CODE :NBKEKENX

Citibank

300 040 012

Nairobi

SWIFT CODE : CITIKENA

Chase Bank

0332 084 215 001

Delta House

SWIFT CODE : CKENKENAXXX

NIC Bank

1002 247 638

NIC House

SWIFT CODE : NINCKENAXXX

Jamii Bora Bank

1174 852 7001

Koinange street

SWIFT CODE : CIFIKENAXXX

 

Copy link
Powered by Social Snap