Apply for the Hustler Fund Loan via your phone (USSD 254)

Learn how to apply for the Hustler Fund loans using your phone by dialling the Hustler Fund Kenya USSD code *254# or via the mobile app.

Hustler Fund Requirements

Here are the requirements as per the Hustler Fund terms and conditions launched by President William Ruto and Cabinet Secretary Simon Chelugui on Wednesday, November 30, 2022:

  • Be a Kenyan citizen (18 years and above)
  • Have a valid National Identity Card (ID number serves as 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

  1. Dial USSD code 254

    Access Hustler Fund via USSD code (*254#) or the mobile app

    The Hustler’s Fund USSD code is *254#

    Call the code from any of the mobile network operators i.e. Safaricom, Airtel or Telkom.

  2. Choose Register option

    Choose the Register option 1 and then click send

    Type 1 and then click send to register.

  3. Accept the terms and conditions

    Accept the Hustler Fund terms and conditions under https://fif.hustlerfund.go.ke/home

    Type 1 and click send to accept the terms and conditions for joining the Hustlers platform.

    The terms and conditions can be viewed on https://fif.hustlerfund.go.ke/home

    The official website is https://hustlerfund.go.ke/

    If you’re wondering how to opt out of hustlers fund in kenya, then type 2 and click send.

  4. Enter Mobile Money PIN

    Enter the PIN for your Mobile Money account i.e. MPESA or Airtel Money or TKASH

    Enter the PIN for your Mobile Money wallet i.e. MPESA or Airtel Money or TKASH

  5. Receive SMS notifications

    You will receive an SMS confirming successful registration. Hustler Fund loans are at an interest rate of 8 per cent

    Receive an SMS confirming successful registration and the assigned Hustler loan limits.

Supply:

  • Safaricom line (optional)
  • Airtel line (optional)
  • Telkom line (optional)

Tools:

  • Mobile Phone

Materials: Mobile Money Valid National Identity Card

Dear Customer, your loan limit is Ksh.  To request for a loan dial *254# or go to the Hfund Mini-app
Dear Customer, You have successfully registered to the Hustler Fund. Dial *254# or go to the Hfund Mini-app to check your limit and request for a loan.

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 Hustlers fund loan via USSD:

1. Dial *254#

Start by dialing the USSD code of the Hustler Fund *254#

Start by dialling the Hustler’s Fund USSD code *254# or use the mobile applications.

2. Select Request Loan

select the Loan request option to view your loan limits, the interest rate and the period the loan will last

Type 1 and click send for the Loan request option to view your loan limit, interest and loan tenure.

3. Enter the loan amount

Enter Loan amount. You will be able to see the current loan limit. One can get to access the loan for 14 days at the interest rate of 8 per cent

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 the interest rate of 8 per cent.

4. Enter your PIN

Enter your MPESA PIN or any other mobile money wallet e.g. Airtel Money or Telkom TKASH

Enter your MPESA PIN or any other mobile money wallet e.g. Airtel Money or Telkom TKash.

5. Confirm loan details

confirm the relevant loan information and note the loan due date

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

Your loan request will be processed shortly. Kindly wait for a confirmation message

You’ll receive an SMS with your loan allocation and the relevant loan information.

Receive an SMS with the loan allocation, loan amount and loan tenure

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 check your approved loan balance:

  1. Use the mobile application platforms or dial *254# to get to your Hustler Fund account.
  2. Select the Loans option on your mobile phone menu.
  3. Choose the Check Loan Status option.
  4. Enter your PIN.
  5. You’ll receive a message showing your current loan balance.
MPESA Charges for Withdrawals & Deposits

Learn about the New MPESA charges for sending or receiving money via phone, ATM or MPESA agent.

The guide includes a curated list of transactions that are FREE via MPESA!

About Hustler Fund

The Hustler Fund is a digital financial inclusion initiative with a loans and savings scheme accessed via mobile phones. It was launched by President William Ruto and Cabinet Secretary Simon Chelugui on Wednesday, November 30 2022.

The Hustler Fund is one of the flagship projects for the Kenya Kwanza administration that seeks to provide attractive interest rates to all Kenyans.

Individuals, Micro, Small and Medium sized enterprises (MSMEs) can begin borrowing loans or access the savings account scheme.

This is done through dialing *254# via any of the mobile network operators or apply via the approved mobile application platforms. The banks a customer borrows from currently include Family Bank and KCB Bank.

The loan limits range from a minimum of Kshs 500 to a maximum of Kshs 50,000. When a customer borrows, the approved loan is disbursed to their mobile money account.

The Hustler Fund interest rate is set at 8 per cent pro rated basis per annum. Those who borrow, need to repay the loan within 14 days.

After 14 days, penalties apply. Your interest rate will be adjusted to 9.5 per cent 15 days after the default date.

The borrower loses all the credit scores accumulated and their Hustler Fund account is frozen if they don’t repay the loan 30 days after the default date.

Hence, it makes sense to repay the loan before the 15 days. That way you keep your existing credit history, credit rating and avoid the additional 9.5 per cent interest on the loan.

Funds in the short term savings account will earn at an interest rate of 9 per cent per annum.

Tags: husler fund loan https hustlerfund go ke www.hustlerfund.go.ke

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2 Comments

  1. James ndirangu muiru says:

    How can I apply for the loan

  2. Payment period should be 30 days