List Of All Hustler Fund Loan Requirements In Kenya 2023
Before you can qualify for a loan from the Hustler Fund, you are required to meet certain requirements.
In this article, we have listed down the requirements that one needs to meet before they can qualify for a loan.
How can I apply for the hustler fund loan on my phone?.
You can easily access the fund through a USSD code and mobile application platforms of any of the mobile network operators in Kenya.
Once your hustler fund loan amount is approved, the loan will be disbursed to your mobile money account where out of the total approved loan amount, 95% shall be deposited to your mobile money wallet.
The remaining 5% shall be deposited to your savings account scheme of the Hustler Fund.
The savings scheme will split savings into 70% long-term and 30% short term savings, such that 70% of the 5% will go into long term (Pension) and 30% of the 5% will go into short term.
Below are the requirements for applying and qualifying for the Hustler Fund Loan.
Hustler Fund Loan Requirements:
- One must be a Kenyan citizen of 18 years of age and above
- Must have a valid national Identification Card (ID)
- Must have a registered mobile number from a recognized Mobile Network Operator in Kenya (Safaricom, Airtel and Telkom etc).
- Have a mobile money account, i.e., either Airtel Money/M-PESA/T-Kash
- The SIM card in question can/will only be eligible if it has been used for more than 90 days.
- One must reside and conduct economic activities in Kenya.
- Provide the Location of residence during the onboarding process (where applicable)
How To Apply For Hustler Fund Loan Using USSD (mobile phone):
- Dial USSD code *USSD code# or mobile application.
- Select the loan request option to view the limit, interest, and loan tenure.
- Enter the loan amount and press OK to continue
- Confirm loan details as displayed to continue
- Enter Mobile Money pin
- You will receive SMS notifications on Loan allocation with relevant loan information.