Timiza Frequently Asked Questions

1. What are the requirements for a customer to have a Timiza Account?
2. Be a registered Safaricom subscriber and registered as an M-PESA customer.
3. Have an active Safaricom M-PESA account/line. *Active for at least 6 months.
4. Hold a Kenyan National Identification Document (ID). *Kindly note that Kenyan passports are not allowed.
5. What are the services that Timiza offer?
6. Loan disbursement
7. Transfer from M-PESA to Timiza
8. Transfer from Timiza to M-PESA
9. Transfer from Timiza to Timiza
10. Cash withdrawal via ATM (cardless service)
11. Repay loan
12. Savings account
13. Airtime purchase
14. Timiza balance enquiry
15. Timiza mini statement
16. Bill Payments – DSTV, M-Pesa Till and Paybills
17. Insurance m. Invite Contacts (App only)
18. Can I access Timiza through an Absa Branch?

Timiza is operated entirely from your mobile phone by dialing *848# or through the Timiza mobile app which you can download from the Google Play store or IOS app store.

Timiza Tariff and Guides

4. What are the transactional charges on Timiza account? Refer to the Timiza tariff guide.

Timiza Loan Product

5. What are the features of the Timiza Loan?
6. Access Timiza loan of up to Kshs. 150,000.
7. Repayment period of 30 days.
8. Funds disbursed directly to your Timiza wallet. Customer will need to access the funds by withdrawing from Timiza to M-PESA.
9. Best price in the market of 5% facility fee and interest fee of 2.96% per month.
10. Enjoy discounts and limit growth on early repayment.
11. Who is eligible for Timiza loan? To qualify for a loan, you must be an M-PESA subscriber for more than 6 months and actively use Safaricom services such as voice, data and M-PESA. You’ll also need to have a good rating and not negatively listed by the Credit Reference Bureaus (CRB) or blacklisted by Safaricom on Okoa Jahazi.
12. How do I check how much I can borrow? Upon activating the account, you will be able to view your loan limit on the log-in screen.
13. Is there any interest charged on Timiza loan? Timiza loan attracts an interest charge of 2.47% per month with a negotiation fee of 5% charged on the cost of processing the loan. A 20% excise duty on the negotiation fee applies, this is deducted upfront from your requested loan amount upon disbursement into your Timiza wallet. (T&Cs Apply)
14. What is the Total loan amount? It is the sum total of loan amount requested, 2.96% per month interest fee and 5% negotiation fee. (T&Cs Apply)
15. Can you request for a loan immediately you opt-in? Yes, if you qualify, your loan limit will be displayed when you log in to your Timiza account and you can borrow immediately.
16. Can you have more than one loan at a time? No. You must repay the outstanding loan first before you can borrow another loan. However, you can repay and reborrow immediately.
17. Can you repay a loan on behalf of another person? Yes, you can repay via Pay Bill number 300067 and enter the other Person’s mobile number as the account number.
18. Can you register with more than one (1) mobile line? No. You can only register with one line at a time.
19. If you have not paid your loan within 30 days, what will happen? You will be charged an additional 5% Roll-Over fee on your outstanding principal loan amount.
20. What happens if you pay in excess of the loan amount? The excess amount will be credited into your Timiza wallet account.
21. If you pay your loan before the due date, will you still be charged the loan negotiation fee of 5% on the loan amount? Yes, the 5% is a processing fee that is charged on every loan upon disbursement.
22. How long does it take for my Loan balance to be cleared upon repayment? The loan account is updated immediately you repay your loan.
23. I do not qualify for Timiza Loan at the moment. What is the reason for this?
24. You may not have been active on M-PESA for a period of at least 6 months.
25. You may be negatively listed by the Credit Reference Bureaus (CRB) for outstanding loans with other lenders.
26. You may be blacklisted for Okoa Jahazi.
27. You may have a low credit rating with the Credit Reference Bureaus (CRB).
28. You may be having an existing Timiza loan.
29. How do I grow my loan limit?
30. Increase activity on your TIMIZA account by transacting on other services offered i.e. Deposit cash on the wallet account, Purchase airtime, Pay your utility bills, Subscribe to Insurance.
31. Open and increase savings on your savings account on Timiza.
32. Increase usage of M-PESA services.
33. Why am I not able to view loan limit at login and on menu? That could mean you do not qualify for loan limit at the moment.
34. When I clear my CRB records how long can I wait to qualify for Timiza loan? Subsequent loan qualification will depend on improved CRB performance and a good credit rating.
35. What do I do if I have forgotten my Timiza PIN? You may call 0709213000 or 0204265000 for assistance to reset your PIN. Alternatively, you can also dial *848#, follow the forgot PIN option prompts. On the Timiza App, choose the Forgot PIN option and follow prompts.
36. I have not received my one-time PIN (OTP). Kindly call 0709213000 or 0204265000 for assistance.
37. My PIN has been blocked. Kindly call 0709213000 or 0204265000 for assistance.
38. How do I download the Timiza mobile App? You can download the Timiza App from Google Store for Android users and the AppStore for iOS users.

Timiza Savings Account

26. What is the return applicable on funds on the savings account on Timiza? The account pays an interest of 9% per annum paid quarterly into your savings account. Refer to the Timiza Savings Account features FAQ for more information.

Timiza Insurance

27. What insurance products are available on TIMIZA? They offer Personal Accident of Kshs. 100,000 and Funeral Cover of Kshs. 50,000.
28. What are the features of the insurance products? The insurance products offered cover death and permanent total disability.
29. What is the Premium for this Insurance cover?Your policy will be covered at Kes 42 per month.
30. How do I apply?
31. Log in to Timiza by dialing *848# or use the Timiza App
32. Select the insurance option
33. Accept the Terms and Conditions
34. Subscribe to the insurance option
35. How do I make premium payments? The premium payments will be deducted from your Timiza wallet account at the end of every month. It is important to ensure that there are sufficient funds in the Timiza wallet to cater for the insurance premium deduction.
36. Can I make the premium payment from a Timiza loan? Yes, if the premium amount is in the Timiza wallet.
37. Are there any additional charges? No, there are no additional charges on the insurance.
38. How and where can I channel my Timiza Complaints or queries? You can get in touch with Timiza Customer Service team on telephone numbers: 0709213000 or 0204265000 and via Email: Timiza.KE@absa.africa You can also reach and follow them on their social media pages: Facebook: Timiza Kenya Twitter: @TimizaKE

Frequently Asked Question on Timiza Savings Account

1. Who is eligible to open a savings account on Timiza?
2. All existing customers will have a menu option availed to them to open a Timiza savings account on both USSD and Mobile app (Android & IOS) platforms.
3. Customers not registered on Timiza will need to first register on Timiza before they can proceed and open a Timiza savings account.
4. How do I fund my savings account on Timiza?
5. You can fund your savings account directly from your M-PESA wallet using the STK (Sim tool kit) push functionality.
6. You can also transfer funds from your Timiza account to your Timiza savings account at no cost.
7. How does Timiza savings account work?
8. Customers will earn cash interest based on the balances on their accounts.
9. The minimum balance to earn interest on the Timiza savings account is Ksh 100.
10. The interest rates quoted on Timiza are annual – per annum.