Repaying the Loan


Why should I pay back?

HELSB's aim is not just to recover all loans with interest, but to raise sufficient funds to meet the rising loan demand in Zambia among vulnerable, priviledged and less priviledged people who want to live their dreams. The loan recoveries also helps HELSB achieve the concept of revolving funds and this enhances the loan payments to students.



Repayment Methods


Undergraduate Loan Repayment starts within one year of completion of studies or within such a period as the Board decides to recall the loan whichever is earlier. However, you can make voluntary payments before or after you complete your studies to reduce your loan balance.

Monthly Deduction Method (MDM)

A beneficiary is expected to payback the loan in monthly installments at an interest rate of 15% of every reducing balance.

Offset Method (OM)

A beneficiary is expected to payback the loan in huge installments or clear the whole balance at an interest rate of 15% on each repayment.



Completion of Loan Repayment


Upon completion of loan repayment, kindly seek clearance from HELSB. Please note that only HELSB and not your employer can confirm your loan repayment status. For clearance, please visit our offices or email us through our contact page details.

Over Repayment

In a situation where a Beneficiary overpays their students loan, HELSB will refund the Beneficiary and not their employer. To claim refund, please Download and fill in the Recovery form. You can also use the electronic form here..





Download the Act Document





Terms of Recoveries

After one year grace period elapses, a Beneficiary is expected to visit HELSB offices for a repayment plan.

When do I start paying back?

After completion of study, a Beneficiary is given one year grace period before starting to pay back.

How much is my interest rate?

15%