How to get get a loan from Timiza

Timiza Loan App by Absa

Timiza Mobile Loan offers loans up to Ksh 150,000 with a repayment period of 30 days at an interest rate of 6.17%. Approval is quick, usually within minutes, based on your M-Pesa transaction history. Check your limit by registering through the app or USSD. Timiza was launched by the Barclays Bank of Kenya. This is a digital platform that offers various services such as loans, insurance and serves as a bank account.

Disbursement Details

How to access/register for the loan:

To access Timiza services, you can register through:

How to apply for the loan

To apply for a loan from Timiza, follow these steps:

  1. Register for Timiza by dialing *848# or downloading the app.
  2. Create an account using your Safaricom number with a registered M-Pesa account.
  3. Receive a PIN via SMS to activate the services.
  4. Log in to the Timiza app.
  5. Select ‘My loans’ and then ‘Request loan’.
  6. Enter the desired loan amount (up to your limit) and select ‘Continue’.
  7. Wait for approval and receive the loan in your Timiza account.

Total Cost Breakdown (Loan Fees)

Loan Fees:

  • Interest Rate: 6.17%
  • Loan Amount: Up to Ksh 150,000
  • Repayment Period: 30 days
  • Processing Fees: Included in the interest rate
  • Penalties for Late Payment: Details available in the app

Repayment Details

To repay your Timiza loan, follow these steps:

  1. Log in to the Timiza app.
  2. Choose ‘My loans’ and then select ‘Repay loans’.
  3. Opt to pay back in full or partially.
  4. Use the Timiza app or your M-Pesa account to make the payment.
  5. Enter your Timiza PIN and click ‘Continue’.

Early repayment is allowed and may save you on interest costs. If using M-Pesa and the pop-up fails, repay via Barclays Timiza pay bill number 300067.

Using Barclays Timiza Pay Bill Number:

  1. Go to M-Pesa.
  2. Select ‘Pay bill number’ and enter 300067.
  3. Use your phone number as the account number.
  4. Enter the repayment amount and your M-Pesa PIN.
  5. Submit and wait for a notification.

Excess payments are credited to your Timiza account. Loans can also be repaid at any Barclays Bank branch.

Eligibility Requirements

To use the Timiza App and acquire a loan, you must:

  • Be at least 18 years old.
  • Have an active M-Pesa account.
  • Own an Android device (tablet or smartphone).

Representative Example of Loan Costs

Loan Amount (Ksh) Interest Rate (%) Total Repayment (Ksh)
10,000 6.17 10,617
50,000 6.17 53,085
100,000 6.17 106,170
150,000 6.17 159,255

Alternative Lenders to Consider

Loan Thumbnail Loan Name Read More
M-Shwari Mobile Loan Read more
KCB M-Pesa Read more
Tala Mobile Loan Read more
Branch Mobile Loan Read more

 

For more information or assistance, contact Timiza Help Center:

  • Phone: 020 3900000 / 0732 130120 / 0722 130120
  • Email: barclays.kenya@barclays.com

 You can also refer to the frequently asked questions to better understand Timiza loans and services.