Helma \he(l)-ma\ as a girl's name is a variant of Hilma (Old German) and Wilhelmina (Old German), and the meaning of Helma is "will helmet, protection".
The baby name Helma sounds like Helima and Halma. Other similar baby names are Zelma, Selma, Delma, Helga, Helsa, Hella, Helia, Herma, Telma and Velma.