In Kenya, accessing reliable loan services has been a challenge for a long time. However, with the emergence of the Hustler Fund Loan App, Kenyans now have access to a swift, secure, reliable, and transparent loaning platform.
The app offers loans ranging from KES1,000 to KES120,000 for a period of 91 to 365 days, with service fees ranging from 6% to 8% and interest rates between 10% and 36% APR.
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Qualifications
To qualify for a loan from Hustler Fund, you must be a Kenyan citizen aged 18 years or older and have an M-pesa account. Downloading the application and filling out your application form is also a requirement.
Steps to Borrow
Borrowing from Hustler Fund is a straightforward process. After downloading the app, you need to fill in the application form, providing all the necessary information required.
There is no advance payment or paperwork required. Once you submit your application, you will receive your loan, which you can choose to repay in full or in installments.
Loaning, Interest Rates, Service Fee Rate, and Repayments
The Hustler Fund Loan App offers loans ranging from KES1000 to KES120,000 for a period of 91 to 365 days.
The service fee rate is between 6% and 8%, and the interest rate is between 10% and 36% APR.
Let’s take an example of a KES15,000 loan for 91 days, with an interest rate of 10% APR and a service fee of 8%.
The total interest on the loan would be (10/100)/3651500091 = KES373, and the total fee would be 8/100*15000 = KES1200.
The total amount deducted from the principal loan amount is interest + fee, which is 373+1200 = KES1573. So, the total amount you receive is KES15000 – KES1573 = KES13427.
If you choose to make a one-time repayment, you will need to pay KES15000 after 91 days. If you choose to make monthly repayments, your monthly repayment amount will be KES15000/3 = KES5000.
Therefore, you pay KES5000 each month. In case of overdue payments, a 2% charge of the loan amount is levied per day. Using the example above, the overdue charge would be KES300 per day.
Security and Privacy
At Hustler Fund, we attach great importance to privacy and ensure maximum security for your data. We verify your identity and reputation before providing you with a reliable loan in Kenya.
Your personal information will never be shared with any third party, and we are committed to protecting your data. For more information on our privacy policies, please visit https://pesa.mtplanet.app/privacy.html.
Contact Information
For any queries, please contact w.white@mtplanet.net. Our offices are located on the 10th Floor, Koinange Street, Nairobi, Kenya.
Conclusion
The Hustler Fund Loan App is a reliable, transparent, and secure loaning platform in Kenya. With its simple application process and flexible repayment options, Kenyans can now access loans easily and conveniently.
However, it is essential to ensure that you meet the qualification criteria and understand the terms and conditions of the loan before borrowing.