Timiza loan App and USSD short code service are a product of the Barclays Bank Kenya, now called the ABSA Bank PLC. This means you can apply for ABSA Bank’s Timiza mobile loan product by either using the Timiza app from Google Play Store or through the USSD code *848#.
Whatever method you choose to get the Timiza mobile loan from ABSA, you must first apply for a Timiza account and register on Timiza for a transactional account.
Read on for steps on how to register for a Timiza transaction account and activate the account using their one-time generated PIN.
Timiza Loan Interest Rates
Timiza charges an interest rate of 1.083% in addition to a facility charge of 5% on the amount borrowed.
Timiza loan repayment period is 30 days. Failure to repay your loan in the stipulated 30 days will attract a rollover fee of 5%.
You can borrow anywhere from Ksh. 50 to Ksh. 100, 000 depending on your loan limit and credit score. Repaying your loan early will boost your chances of getting higher limits.