Timiza loan app from Absa Bank (formerly known as Barclays Bank of Kenya) is a Fintech app which includes a short term personal loan feature exclusively for Kenyans.
With Timiza you can bank from your phone, whether you want to get an instant loan, transfer funds, pay bills or purchase an insurance cover.
Timiza makes banking and loan application easy for both banked and rural Kenyans by providing collateral free and 100% online loans. No paperwork, with just your mobile phone and a few documents you can access revolving loans with higher amounts every time you repay.
How to Apply for Timiza loan?
To get a Timiza loan, all you need to do is:
- Download and install the Timiza app from Google play store
- Register for an account using your Safaricom line.
- Upload your Kenyan National Identification Document (ID) Kindly note that Kenyan passports are not allowed.
- Verify your identity and that the information you’ve entered is correct.
- Get money sent directly to your M-Pesa account.
You can also apply for an Absa Timiza Loan through the USSD service
Simply dial *848# on your Safaricom line connected with your Absa Timiza Account and follow the prompts.
What are the requirements for a customer to have a Timiza Account?
- Be a registered Safaricom Subscriber.
- Be a registered Safaricom M-PESA customer.
- Have an active Safaricom M-PESA account/line.
- Hold a Kenyan National Identification Document (ID) Kindly note that Kenyan passports are not allowed.
- You will also need to have a good rating at the Credit Reference Bureau [CRB] and by Safaricom on Okoa Jahazi.
Timiza loan interest rate
All Timiza Loan attracts an interest charge of 1.083% charged once and a facilitation fee of 5% of the amount borrowed for a term of 30 days.
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. See what to do to increase your loan amount.
How to repay your Timiza loan
You can repay the loan through MPESA business number 300067, account number is your Safaricom phone number. Or you can directly dial * 848#. Insert the pin, pick the loan option, and select pay loan.
Here is how to pay with the MPESA business number:
- Proceed to MPESA.
- Choose Lipa Na MPESA.
- Choose the Paybill Option.
- Insert the Business number as 300067.
- Insert your Timiza Enrolled phone number as the account number.
- Insert your Cash Amount.
- Insert your MPESA Pin.
- Verify the specifications are correct then click OK.
Is Timiza loan app safe?
Yes Timiza loan app is safe and legit. Absa is a regulated financial service provider licensed by the Kenya Central Bank.
Timiza customer service number
If you have any issues or enquiry WhatsApp 0712 233248
Via Phone – 0709 213000