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Timiza Loan is offered by Absa Kenya.
Timiza was launched by the Barclays Bank of Kenya (Now Absa Kenya) on 16th March 2018.
This is a digital platform that offers various services such as loans, insurance and banking services.
To contact Timiza, you can: –
- Call; 020 3900000/0732 130120/0722 130120
- The Email address is; barclays.kenya@Barclays
Products and services.
- Timiza Loans.
How to get Timiza Loan.
You can access Timiza via loan apps.
Timiza loan Apps are available for download both on Google Play store and Apple store.
If you don’t have a smartphone or active internet, you can access Timiza loans by dialing Timiza USSD code *848# on your phone and follow the prompts.
The minimum loan amount you can get from Timiza is ksh 50 while the maximum amount is 1,000,000 shillings.
How to borrow loans from Timiza.
To borrow a loan from Timiza, you must have the following;
- National ID.
- Smartphone or feature phone (Mulika mwizi).
- A Safaricom registered number with Mpesa to receive and pay back your loan.
To get a loan from Timiza by smartphone users;
- Download the Application from Google Play Store or Apple Store.
- Fill the application form with the relevant information.
- Once approved, you will receive the money on your M-Pesa number.
How fast can you borrow a loans in Timiza.
Once approved, you will have the loan sent to your M-Pesa number instantly.
The procedure of acquiring a loans from Timiza app:
- Login to the Timiza APP.
- The amount limit of the loan you can borrow will be displayed on the app.
- Choose ‘My loans’.
- Select ‘Request loan’.
- Then enter the amount of money you’d like to borrow (don’t exceed your loan limit).
- Select ‘Continue’.
- Patiently wait for a notification from Timiza.
- If approved, the loan procured will be sent to your Timiza account.
You can opt to move your money into M-Pesa account and later withdraw the money from M-Pesa agents.
How to payback timiza loans from the app: –
- Log in to the Timiza App.
- Choose ‘My loans’.
- Then select ‘Repay loans’.
- You can opt to either pay back in full or partial.
- You can also decide whether to use the Timiza App or M-Pesa account in repaying the loan.
- Proceed to enter your Timiza PIN.
- Then ‘continue’.
- In-case you select the M-Pesa and pop up fails, kindly use the Absa Timiza pay bill number (300067) in repaying the loan
- An applicant may opt to repay the loan directly by visiting any of the Absa Kenya Bank Branch.
Timiza terms and conditions.
To be eligible for a loan, you need to be an M-PESA subscriber for more than 6 months.
You will also need to have a good rating at the Credit Reference Bureau [CRB].
Timiza Interest rates.
Timiza interest rate is 1.083% plus (+) 5% of loan amount charged as a processing fees.
If you do not pay your loan within 30 days, a roll over fees of 5% will also apply.
What is unique about Timiza loans.
Loan is disbursed to the Customer’s Timiza account (not directly to M-PESA). The Customer will access the funds by withdrawing from Timiza to M-PESA.
To grow your loan limit:
- Increase activity on your TIMIZA Account by transacting on other services offered on Timiza like Deposit cash, Purchase airtime, Pay your utility bills, Subscribe to Insurance and more.
- Increase usage of M-PESA services.