Hustlers loan app is an instant lending platform that offer personal loans ranging between Ksh. 1,500 and Ksh. 12,000.
Hustlers loans are unsecured and fully processed online. One can utilize this loan to satisfy their financial needs in any way that fits them.
Is hustlers loan app connected to government’s Hustler Fund
NO. Hustlers loan app is in no way connected to government’s hustler fund. After a thorough research, I have drawn this conclusion after considering the following factors:
- Government has never made public any intention to start a loan app for their Hustler Fund project.
- Hustler Fund is a government project while hustlers loan app is a product of Hustlers Fund Group which is a private investment group.
- Government’s hustler fund has different features to the Hustlers loan app. For example: Government’s Hustler fund is returned with an interest rate of 0.02% per day while Hustlers fund loan app is repaid with a 0.05% interest rate. Government’s hustler fund is repaid in 14 days while hustlers fund loan app’s loan is repaid within 365 days.
Hustlers fund loan details
Hustler fund loan limit
Hustler Fund loan app gives customers loans ranging between Ksh. 1,500 and Ksh. 12,000.
A customer has the opportunity to grow their loan limit by constantly borrowing from the platform and repaying their loan in time.
Hustlers loan app tenure
Hustlers fund loan app gives customers from 90 days to 365 days to repay their loans. This is a favorable repayment period especially for those experiencing financial problems.
Hustlers loan app interest rate
Hustlers fund loan app charges a constant interest rate of 0.05% per day. This rate is constant and not affected by any factor.
In total, Hustlers Fund loan app charges an interest rate of 18% a year which is close to that of the government’s hustler fund.
Hustlers loan app requirements
One has to meet the following requirements to qualify for loan on Hustlers fund loan app:
Must be 18 years and above. One cannot access loans from this app when they are below the age of 18. This cuts across all loan apps in the country currently. No one can borrow loan from any platform when they are below the age of 18.
One must have an active M-Pesa account. This is where the amount borrowed will be sent to.
Clean CRB record. Hustlers loan app depends on CRB to determine one’s credit scores.
Disadvantages of Hustlers loan app
Hustlers loan app uses a name affiliated to government while in the real sense it has no connection to the government. This can raise eye brows on their credibility.
Hustlers loan app takes up to 24 hours to process a loan request while other apps process loan requests instantly.
Hustlers fund does not have a customer care number that is active throughout, this makes it difficult to contact them in odd hours.
Hustlers loan example
For example: If you choose a loan limit of KSh 2,000.00 with a period of 120 days,
the total interest must be paid: KSh 2,000.00 * 0.05% * 120= KSh 120.00, monthly interest shall be paid:KSh 2,000.00 * 0.05% * 30 = KSh 30.00，monthly repayment bill including principle and interest shall be paid: KSh 2,000.00/4 + KSh 30.00 =
KSh 530.00，total repayment bill including principle and interest shall be paid:
KSh 2,000.00 + KSh 120.00 = KSh 2,120.00
Hustlers loan app contacts
Customer care contact number: +254207903685
Working time: 8am-5pm(Monday – Saturday)
Company name: HUSTLERS FUNDS CAPITAL KENYA LIMITED
Company address：2nd Floor, KIBAZI HOUSE, RUARAKA Way, Nairobi
Are you happy with the services of Hustlers Fund loan app and want to download it? Just use this link which will redirect you to Hustlers fund loan app in google play store.
You can also read about Baba Care loan app which also have same features as Hustler Fund loan app by clicking on this link.