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HomeFINANCEHELB announces low interest loans for civil servants between 30,000-500,000

HELB announces low interest loans for civil servants between 30,000-500,000

On Friday, January 3, the Higher Education Loans Board (HELB) encouraged government employees to apply for a loan known as the training revolving funds.

The loan is intended for public workers working for the federal government, local governments, and the National Police Service. It is offered in collaboration with the Ministry of Public Service.

“Civil servants, you deserve this one! The announcement states, “The Training Revolving Fund – TRF Loans application is now open.”

Civil personnel may apply for sums between Ksh30,000 and Ksh500,000, payable over a maximum of six years, according to HELB.

The loan, which has a low annual interest rate of 4%, will be used to pay for government officials’ tuition, examination, library, computer, and research expenses.

The loan, which has a low annual interest rate of 4%, will be used to pay for government officials’ tuition, examination, library, computer, and research expenses.

Additionally, HELB has highlighted postgraduate courses—both master’s and doctoral—as well as short courses lasting at least three months that are financed by the revolving fund.

What you need

In order to be eligible for the loan, civil servants must submit a reference letter from their employer and the names of at least two coworkers who are willing to act as guarantors.

Additionally, the applicant has to have an acceptance letter from the accredited university of their choice.

Three certified copies of their most recent paystubs, a certified copy of their ID, a certified KRA pin, and current color passport-sized photos are also necessary.

Beginning with the first month following the funds’ disbursement, the loan payback will be made through a monthly check-off mechanism deducted from the employer’s wages.

Days before to this announcement, HELB announced loans of up to Ksh500,000 for Kenyan nurses wishing to pursue higher education.

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