how long will it take to pay off my HELB loan
|Months to Pay-off Loan||0 MONTHS|
|Years to Pay-off Loan||0 YEARS|
|Monthly Payment||KSh 0.00|
|Total Payment||KSh 0.00|
|Total Interest||KSh 0.00|
The loan attracts interest of 4% p.a and the students are required to repay their loans on completion of their studies. Students are advised to apply at least one month before the opening date to allow ample time for processing and remittance. The application period is January through July every year.
Students are advised that the loans should be used mainly for:
Alternative loans comprise of Postgraduate (Masters & PhD) and Undergraduate loans for salaried applicants loans. This category of loan was introduced in the year 2000/2001 (PG) and 2008/2009 (CE). It runs as a commercial window targeting students who are able to repay their loans while studying, thus allowing the Board to generate income from application fees and interest charged to build and maintain a sustainable revolving fund. The loans are evaluated and awarded on the basis of the loanees' ability to pay while studying at an interest rate of 12% p.a and repayable in 48months.
|Awards (per year)||PhD- Kshs: 60,000 – 200,000.00;
Masters -Kshs: 60,000 – 200,000.00;
CE -Kshs: 60,000 – 100,000.00;
|Loan Interest Rate||12% per annum|
|Repayment period||48 months|