How To Access Hustlers Fund In Kenya
The Hustler Fund, also known as The Financial Inclusion Fund, is a loan project led by the Kenyan government which provides instant loans to Kenyan citizens upon request. The program was launched by President William Ruto in late 2022 with the intention of providing at least $410 million in loans.
In this article Keweb. co tries to answer the question by publishing the ways one can access hustlers fund in Kenya
Below are the most helpful ways to access hustlers’ funds in Kenya
- Be a Kenyan citizen (18 years and above)
- Have a valid National Identity Card (ID number serves as a unique identifier)
- Have a registered mobile number with a recognized mobile network operator i.e. any of the three telcos Safaricom, Airtel, or Telkom
- Have a registered mobile money account e.g. MPESA, Airtel Money or TKASH
- Your registered SIM card must have been used for more than 90 days. That means buying a new SIM card today just to register for the Hustler Fund loans won’t work!
- Must provide residence details
A valid good conduct certificate is not required but it helps to be on the right side of the law.
Steps to Register Hustler Fund Account
Below are the exact steps to register with the Hustler Fund.
Total Time: 2 minutes
- Dial USSD code 254The Hustler’s Fund USSD code is *254#
- Choose Register optionType 1 and then click send to register.
- Accept the terms and conditionsType 1 and click send to accept the terms and conditions for joining the Hustlers platform. The terms and conditions can be viewed at https://fif.
- Enter Mobile Money PINEnter the PIN for your Mobile Money wallet i.e. MPESA or Airtel Money or TKASH
- Receive SMS notifications Receive n SMS confirming successful registration and the assigned Hustler loan limits.https://57520f4d5145a585f4bb7cc3e9d87363.safeframe.googlesyndication.com/safeframe/1-0-40/html/container.html
Supply:
- Safaricom line (optional)
- Airtel line (optional)
- Telkom line (optional)
Tools:
- Mobile Phone
Materials: Mobile Money Valid National Identity Card
You’ll also receive a notification if the Hustlers Fund registration is unsuccessful.
How to Apply for Hustler Fund Loans
Here are the steps to apply for a Hustlers fund loan via USSD:
1. Dial *254#
Start by dialing the Hustler’s Fund USSD code *254# or use the mobile applications.
2. Select Request Loan
Type 1 and click send for the Loan request option to view your loan limit, interest and loan tenure.
3. Enter the loan amount
Next, enter the loan amount and press “Send” to continue. The loan amount should not exceed the loan limits stated in the SMS. One can get to access the loan for 14 days at an interest rate of 8 percent.
4. Enter your PIN
Enter your MPESA PIN or any other mobile money wallet e.g. Airtel Money or Telkom TKash.
5. Confirm loan details
Confirm loan details and if okay, continue to the next step.
Here is a breakdown of how much of the Hustler Fund you will receive:
- 95 per cent of the loan applied for will be sent to your mobile money account.
- 5 per cent of the loan applied for will be sent to your savings account.
The amount sent to your savings account is further split as follows:
- 70 per cent will sent to your long term pension account.
- 30 per cent will sent to your short term savings account.
6. Receive SMS notifications
You’ll receive an SMS with your loan allocation and the relevant loan information.
On the first day, Kenyans with a good credit rating borrowed Kshs 17 Million per hour! Mostly due attractive interest rates for loans and short term savings account
How to Check Hustler Fund Loan Balance
Below is a step-by-step guide to checking your approved loan balance:
- Use the mobile application platforms or dial *254# to get to your Hustler Fund account.
- Select the Loans option on your mobile phone menu.
- Choose the Check Loan Status option.
- Enter your PIN.
- You’ll receive a message showing your current loan balance.