This Is Why Your Helb Portal Balance Is Usually Higher Than Payslip Balance
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Helb loans have time immemorial facilitated the progression of individuals pursuing higher education with the funds to accomplish their academic dreams.
In return, these funds are required to be repaid back albeit with interest after a defined period.
Beneficiaries who are lucky enough to land employment upon completion of their studies are encouraged to make payment as soon as possible so that other needy applicants can also benefit from the programme.
One of the HELB repayment options for employees on payroll is through employer check-off where the employer deducts a portion of an employee’s salary and channels it towards Helb repayment and the same is reflected on the monthly payslip and Helb portal.
However, one user posted on the lender’s official facebook page regarding discrepancies between the reflected balances on the two platforms such that the Helb portal balance was usually higher than the payslip balance.
This created a perception that he was being shortchanged by Helb in regards to his monthly remittances.
As a reply towards the user’s point of concern, a member of the Helb team clarifies that the differences between the two is usually attributed to accrued interest and projected whereby the Helb portal balance includes the accrued interest while the payslip balance includes both the accrued and projected.
He further advised the individual to use the portal balance which is more accurate than the payslip balance.
A screenshot of the interaction can be seen below.