Nominate your best employee now before the window closes!
Find out more details on our website
Global Payment and Compliance
Paying HELB via Mpesa is a must for everyone looking to pay. Higher Education Loans Board(HELB)
Paying HELB via Mpesa is a must for everyone looking to pay. Higher Education Loans Board(HELB) is a board that provides loans and scholarships to higher education students. For example, those doing undergraduate and post-graduate studies. HELB was established with the aim of recovering matured loans. Also, it helps in raising sufficient funds to meet the high demand for loans while attaining faster loan repayments.
It is important to note that HELB consists of three branches that ensure the smooth running of operations. They include:
All HELB loan beneficiaries are required to start repayment of the loan within one year of completion of studies or, within such a period as the Board decides to recall the loan. However, you can make voluntary payments before or after the completion of your studies to reduce your loan balance.For salaried students, loan repayment is due immediately upon disbursement of the funds.
The board has developed different modes of payment to ease the process of loan repayment. For instance, bankers cheque, cash deposit to HELB collection, and the most common one paying using Mpesa.
For employers, HELB payments should be done by the 15th of the following month. For self-paying individuals, payments should be made within the month. Defaulters receive a Ksh. 5000 penalty for each month not paid.
In conclusion, paying HELB via Mpesa is easy, secure, and fast. It is beneficial for you to keep repaying your HELB loan and avoid defaulting. Upon completion of loan repayment, you will get a HELB clearance certificate, even more, you will be able to build a good credit history for future use. Are you looking to pay your monthly statutory deductions easily?Read more on How to Pay NHIF via Mpesa, or better yet How to Pay NSSF via Mpesa.
Subscribe to get the latest articles, information, and advice to help you better run your small business. Delivered weekly, for free.