Are you looking for a way on how to opt out of Hustler Fund? Well, the option to opt out of the hustler fund is currently unavailable on all registered Mobile Network Operators in Kenya – Safaricom, Telkom, and Airtel, because of the fund’s structure.
The feature to opt out of Hustler Fund loan facility has been requested by many customers who either want to change their phone numbers or did not receive a loan after registration and, therefore, want to opt out of the service.
The Hustler Fund loan amount ranges from a minimum of KES 500 to a maximum amount of KES 50,000. The interest rate is 8% annually, and the loan repayment period is 14 days. You can access the loan facility using the Hustler Fund USSD Code *254#.
With the craze of Hustler Fund launching the government, you may have been swept by the wave to register and apply for a Hustler Fund loan. Now, you have decided this is not for me, and I want to opt out of the fund. You may have dialed the USSD Code *254# and keenly perused through the different options offered, but you can’t find the option to opt out of the service.
Related: How to Pay Hustler Fund in Kenya
Why You Cannot Opt Out of Hustler Fund
You cannot opt out of the Hustler Fund once you register for the service. This is unlike other services such as Fuliza, which you can opt-in and out of with ease.
So once you register for the Hustler Fund, your membership will be permanent because of the fund’s structure, which earmarks 70% of investments for long-term savings.
The Acting CEO of Hustler Fund, Elizabeth Nkukuu, explained the reason behind this permanent and irrevocable decision.
“You cannot opt out of Hustler Fund. You will remain in the fund because of the 70% that is on long-term savings, you cannot opt out because you will access your money at 60 when you retire,” Nkukuu asserted in an interview with Spice FM.
She went ahead to explain the basic patterns of the hustler fund.
“There are those who borrowed out of curiosity. They borrowed once and never did again. Then there’s a second group of people who use it on a needs basis; there are others who borrow on impulse, between three to four times a day,” she said.
Now that you that you cannot opt out of Hustler Fund, you should endeavor to build your long-term savings for your retiment.
Also Read: How to Opt Out of Fuliza.
