Access Hustler Fund Savings in Kenya

The Hustler Fund is a Kenyan government initiative aimed at promoting financial inclusion by providing affordable credit and encouraging a culture of saving. A key feature of this program is its savings component, which helps individuals build financial resilience. This article provides a comprehensive guide on how to access Hustler Fund savings, detailing the types of savings, eligibility criteria, and withdrawal procedures.​

Understanding Hustler Fund Savings

When you borrow from the Hustler Fund, 5% of the loan amount is automatically allocated to your savings account. These savings are divided into two parts:​

• Short-Term Savings (30%): Accessible after one year, provided certain conditions are met.​
• Long-Term Savings (70%): Reserved until you reach the retirement age of 60.​

This structure ensures that while you have access to funds for immediate needs, you’re also building a nest egg for the future.​

Eligibility Criteria for Accessing Short-Term Savings

To access the 30% short-term savings portion, you must:

1. Maintain Membership for One Year: You must have been a member of the Hustler Fund for at least 12 months.​
2. Loan Repayment Status: You should have either fully repaid your loan or repaid at least 30% of the borrowed amount. For instance, if you borrowed KSh 1,000, you need to have repaid at least KSh 300.​

It’s important to note that the 70% long-term savings are only accessible upon reaching the retirement age of 60.​

Steps to Access Hustler Fund Savings

You can access your Hustler Fund savings through two primary methods:

1. Via USSD Code:
   • Dial *254# on your mobile phone.​
   • Select ‘Hustler Fund’.​
   • Choose ‘Personal Loan’.​
   • Select ‘Savings’.​
   • Opt for ‘Short-Term Savings
   • Proceed with the withdrawal to your M-PESA account.
2. Through the M-PESA App:
   • Open the M-PESA app on your smartphone.​
   • Access the Hustler Fund mini-app.​
   • Enter your PIN.​
   • Navigate to ‘Short-Term Savings’.​
   • Select ‘Withdraw to M-PESA’.​

Additional Information

• Withdrawal Fee: A fee of KSh 10 is charged per withdrawal transaction.​
• Business Hours: Withdrawals can only be made during official business hours, which are Monday to Friday from 8:00 AM to 5:00 PM.​
• Interest Accrual: Your savings accrue interest over time, enhancing your financial growth.​

Conclusion

Accessing your Hustler Fund savings is a straightforward process designed to support both your immediate financial needs and long-term goals. By understanding the eligibility criteria and following the outlined steps, you can effectively manage your savings and contribute to your financial well-being.​

For more detailed information or assistance, visit the official Hustler Fund website or contact their customer service.