Hustler Fund Loan: How to Access and Repay

Hustler Fund Loan is a Ksh 50 Billion kitty launched on November 2022 by the Kenyan government that lets citizens borrow money through their mobile phones.

The fund is intended to provide financial assistance to Kenyan youths and small business enterprises to promote entrepreneurship and job creation.

It’s funded through government resources, including allocations from the national budget, and is administered by a board of trustees.

Who can access the Hustler Fund Loan?

The Hustler Fund Loan is available to individuals and small business owners who meet the following requirements.

  • Be a Kenyan citizen above 18 years of age.
  • Be a holder of a valid National ID.
  • Have a registered mobile number from a recognized mobile operator like Safaricom, Telkom, or Airtel.
  • The registered sim card (mobile number) must be in use for at least 90 days.
  • Have a registered mobile money wallet with a recognized mobile operator, e.g., Mpesa (Safaricom), Tkash (Telkom), or Airtel Money (Airtel).
  • Provide valid residential details.

How much can you access in Hustler Fund?

The loan amount disbursed depends on your credit ratings and other factors, and it’s split as follows.

  • 95% sent to your mobile wallet (Mpesa, Airtel Money, or Tkash)
  • 5% sent to your savings account.

The 5% is further slip as follows;

  • 30% sent to your short-term savings wallet (accessible after six months)
  • 70% sent to your long-term savings wallet (accessible after “retirement”)

How to Register or Join Hustler Fund in Kenya

Here are the steps to join or register a new Hustler Fund Account. The process takes less than two minutes and can be completed from any mobile phone.

  • Dail the Hustler Fund USSD Code *254#
  • Enter option 1 and click the Send button to Register
  • Enter option 1 to Accept the terms and conditions
  • Click on the Send button
  • Enter your pin (Mpesa, Tkash, or Airtel Money)

You will then receive an SMS notification on your registration status. If your registration was successful, Hustler Fund will send you a follow-up message with your loan limit. However, if you do not qualify for an account, you’ll also get a notification on “unsuccessful registration.”

How to access Hustler Fund in Kenya?

If you are wondering how to get the Hustler Fund Loan, below is the complete process.

  • Dial *254# from your mobile phone.
  • Select the request loan option.
  • Enter your loan amount and click send
  • Enter your mobile money PIN
  • Select option 1 to confirm your loan details
  • Click Send to continue

How to Repay Hustler Fund Loan

If you are wondering how to repay the Hustler Fund Loan, below is the complete process.

  • Dial *254# from your mobile phone.
  • Select the Repay Loan Option
  • Enter the amount you want to pay
  • Click Send to continue
  • Enter your mobile money PIN
  • Select option 1 to confirm your loan details
  • Click Send to continue

How to Opt-Out of Hustler Fund?

At the time of writing this article, there was no way of opting out of the Hustler Fund. Compared to other services like Fuliza, Kenyans cannot opt out of Hustler Fund yet. However, you can chose not to register an account.

Alternatives to Hustler Fund

In addition to the hustler fund, there are other loan apps and digital lending platforms in Kenya. These platforms offer loans to Kenyans at different interest rates, terms, and the repayment period. They include Fuliza by Safaricom, Mshwari, KCB Mpesa, Zenka, TALA, and Branch.


FAQs: Hustler Fund

Here are the commonly asked questions about the Hustlers Fund in Kenya.

How do I get a Hustler Fund?

To access Hustler Fund, dial *254# from any mobile network like Airtel, Telkom Kenya, or Safaricom.

How much can access from Hustlers Fund Kenya?

When you request a loan, you’ll receive KSh 500 – KSh 50,000 based on your credit score.

How do you opt out of Hustlers Fund in Kenya?

Currently, there is no way of opting out of the Hustlers Fund.

How can I withdraw money from Hustlers Fund in Airtel?

To withdraw money from Hustlers Fund in Airtel, visit an Airtel Money agent with your National ID.

What happens if you don’t pay Hustlers fund?

In the event of non-payment within 14 days (from the date of disbursement), the loan will accrue a rate of 9.5% with effect from the 15th day.

How do I check my Hustler Fund limit?

To check your hustler fund limit, dial *254# USSD and follow the prompts.

What are the terms and conditions for the Hustlers Fund in Kenya?

The terms and conditions for the Hustler Fund in Kenya include key issues on eligibility, registration process, loan application, processing, disbursement, and repayment. Check out the fund’s website for more details.

What is the repayment period of the Hustlers Fund in Kenya?

You must repay the Hustlers Fund loans within 14 days at an annual interest rate of 8 percent. The rate jumps to 9.5 percent per year for the days on which the facility goes into default.

In Conclusion

Now that you know how to apply for the Hustler Fund Loan, we will end this article by looking at the breakdown of how much you’ll receive in your MPESA, Tkash, or Airtel Money.

Once your loan is approved, you will receive 95% of the amount in your MPESA or other mobile wallets. 5% of the loan is sent to your savings wallet. Also, the 5% is slit into short-term savings (30%) and long-term pension (70%).

For example, if you qualify for Ksh 500, you will receive 95% (Ksh 475) on your mobile. The remaining 5% (Ksh 25) will be sent into your savings account – Ksh 7.5 is short-term, while Ksh 17.5 is long-term.