How To Repay Hustler Fund Loan – 5 easy tips
This article is about how to repay a Hustler Fund loan in Kenya. Hustler Fund is a digital investment scheme established on November 30, 2022 by President William Ruto. The idea behind the fund is to avail cheap affordable loans to the lower cadre Kenyans. The process of applying for hustlers loan is easy.
To ask for financial costs, only make * 254 # in your phone, anything for the networker.
Borrowers can get loans from a minimum of Kshs 500 to a maximum of Kshs 50,000.
Once approved, the loan amount is paid directly to their mobile money account.
How to Repay Hustler Loan
Repaying the Hustler Fund loan is hassle-free and can be done by following these steps:
- Dial *254# from your mobile phone.
- Select the “Repay Loan” option.
- Enter the required refund amount.
- Click “Submit” to continue.
- Enter your mobile payment PIN.
- Select option 1 to confirm your loan details.
- Click “Submit” to complete the refund.
How to Check Hustler Loan balance
For borrowers to check their loan balance, they can follow these simple steps:
- Access Hustler Fund account through mobile application platforms or by dialing *254#.
- Select the “loan” option from the mobile phone menu.
- Select “Check Loan Status”.
- Enter your PIN. A message will be sent showing your current loan balance.
Consequences of not paying Hustler Fund loans on time
Timely loan repayment is very important because non-payment within the stipulated period affects the borrower’s credit rating negatively. This affects their ability to get another loan until the existing one is repaid.
Partial or full refunds are allowed within 14 days. Over this period, interest is adjusted to 9.5% per annum.
How to increase your Hustler loan limit
To increase the loan limit, borrowers must keep a consistent record of borrowing and repaying on time.
Loan amounts are evaluated based on previous credit and repayment history at Hustler Fund.
Hustler Finance represents a significant step forward for financial inclusion in Kenya, providing individuals and MSMEs access to low-cost loans and a secured savings plan.
Through its user-friendly approach, this digital strategy aims to boost the national economy and provide greater financial opportunities for all Kenyans.