Timiza loan App is a mobile money product from ABSA Bank Kenya PLC. You can download the Timiza mobile loan app from Play Store or App Store, register an account and apply for a loan in very simple steps.
You can also access Timiza loan services through the USSD code *848#.
I will guide you step by step to download the Timiza app, register and apply for your first loan without visiting any ABSA Bank branch.
Timiza Loan Interest Rates and Fees
Timiza charges an interest rate of 1.083% in addition to a facility charge of 5% on the amount borrowed.
The 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.
See Also: List of Mobile Loan Apps in Kenya and their Interest Rates
Timiza Loan Eligibility
To qualify for a mobile loan from Timiza, you must meet the following requirements:
- Be at least 18 years of age
- Have a valid national ID card
- Be registered on Safaricom’s Mpesa and active for at least 6 months.
During the installation process, the Timiza loan app must be allowed to have access to several services on your phone including camera, contacts, location, device details, and messages.
This is to confirm further eligibility of your mobile phone. Timiza app will not operate on a device that is rooted.
How to Apply for Timiza Loan Using the App
Before applying for a Timiza loan, you must first download the app and register an account.
Downloading Timiza App and Registering an Account
- First, you need to download and install the Timiza app from Google Play Store or App Store
- Open the app after installation
- Enter your Safaricom phone number and ID number to register
- Enter the One Time Password sent to your phone in SMS to register the transaction account
- You will be allowed to enter a secure PIN for accessing the app and USSD services
- You are successfully registered on the app
Keep your PIN safe because you will need it as your password any time you want to log into the Timiza mobile app.
In case you forget your password, you can dial *848# and press 1 to reset the PIN.
Timiza Loan Application Process
- Log into the app using your Timiza PIN
- Your Timiza loan limit and account balance are displayed at the top of the screen
- Tap on the My Loan menu
- Select Request Loan
- Select or enter the amount you want to borrow
- Enter the OTP code sent to you via text message and press Continue
- Your loan will immediately reflect in your Timiza account
How to Apply for Timiza Loan through USSD Code
- Dial *848# on your Safaricom line registered with Timiza
- Enter your Timiza PIN
- You will see your Loan Limit at the top of the onscreen menu
- Select the option Loan and press Send
- Next, select Request Loan
- Choose the option, Get Cash
- Enter the Amount you want to apply for, subject to your Timiza limit
- Confirm the amount you have applied and send
- You will receive a message from Timiza confirming approval or disapproval of your loan
How to Send Money from Timiza to Mpesa
To send money from the Timiza account to Mpesa follow these steps:
- Tap on the Send Money icon
- Enter your Timiza registered mobile number
- Enter the amount you wish to transact and press Continue
- Next, enter your Transaction PIN and press Continue
- Enter the OTP code sent to you by SMS and finish the transaction
- You will receive a transaction confirmation message from MPesa and Timiza
You can also use dial *848# on your MPesa line and select the option Send to Mpesa.
The amount you can transact at a time on Timiza ranges from Ksh. 50 to Ksh 150,000, with a maximum daily limit set to Ksh. 300,000.
How to Repay your Timiza Loan via Mpesa Paybill
You can repay your Timiza loan using the Timiza Lipa Na Mpesa Pay bill number 300067.
To repay your Timiza loan, follow these steps:
- Open the MPesa menu or dial *334#
- Select Lipa Na Mpesa
- Select Pay Bill
- Enter Timiza Business Number 300067
- Now enter your Timiza registered mobile number as the account number
- Next, enter the amount you want to repay
- Enter your Mpesa PIN and confirm the details before sending
Other Services you can Access on Timiza
You can get the following services on ABSA Timiza platform:
- Save and earn Timiza saving interest of up to 5% p.a with Zidisha savings account
- Transfer cash between Timiza and Mpesa
- Check Timiza balances
- Check foreign exchange rates
- Purchase insurance
- Book a cab (on the Mobile app only)
- Pay for KPLC/ZUKU/DSTV/GOTV bills
- Get insurance on personal accident (up to Ksh. 100,000), and funeral expense cover up to Ksh. 50,000. Monthly premiums are Ksh. 42.
- Buy airtime
- Request for a mini statement
- Loan top-up
ABSA Timiza Customer Care Contacts
- Phone: 0709 213 000, 020 42 65 000
- Email: firstname.lastname@example.org
- Facebook: facebook.com/TimizaKE
- Twitter: twitter.com/timizake