Timiza loan app from Play Store main image

Timiza Loan App Guide: Download, Apply, and Get Approved

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Enjoy convenient banking on the go with the Timiza app from ABSA Bank Kenya. Apply for instant loans, send money to M-Pesa, pay bills, purchase airtime, and get insurance coverage – all without visiting a branch.

In addition, you can:

  • Save money with a Timiza Savings Account and earn an annual interest rate of up to 9% compounded monthly.
  • *Access Timiza services even without an internet connection or smartphone through the USSD code 848#.

Timiza Loan Eligibility:

  • Be at least 18 years old.
  • Possess a valid national ID card.
  • Be a registered M-Pesa user for at least 6 months.
  • Allow the Timiza app access to your camera, contacts, location, device details, and messages during installation for further verification of your phone’s eligibility.
  • Please note: The Timiza app will not function on a rooted device.

You can also check your eligibility directly:

  • Through the Timiza app.
  • By dialing *848# on your Safaricom line.
  • Visit the ABSA Bank website or contact their customer service team for more information.

How to Get a Loan from the Timiza App:

  1. Download and install the Timiza app from Google Play Store or App Store.
  2. Open the app and register using your Safaricom phone number and ID number.
  3. Enter the One Time Password (OTP) sent via SMS to register the transaction account.
  4. Create a secure PIN for accessing the app and USSD services.
  5. Your loan limit and account balance will be displayed on the main screen.
  6. Tap “My Loan” > “Request Loan” and select your desired amount.
  7. Enter the OTP sent via SMS and click “Continue.”
  8. Your loan will be reflected immediately in your Timiza wallet/account.
  9. To withdraw, open the Timiza app, tap “Withdraw,” and follow the instructions to send the money to your M-Pesa account.

How to Apply for a Timiza Loan through USSD 848#:

  1. *Dial 848# on your Safaricom line registered with Timiza.
  2. Enter your Timiza PIN.
  3. Select “Loan” and press “Send.”
  4. Choose “Request Loan” and select “Get Cash.”
  5. Enter the amount you want to apply for (subject to your limit).
  6. Confirm the amount and send.
  7. Receive a message confirming approval or disapproval of your loan.
Read Also:   How to Buy Airtel Airtime from MPesa

Disclaimer: Loan approval is subject to creditworthiness.

How to Reset Timiza Password

How to reset Timiza password
Reset a forgotten Timiza password.

In case you forget your Timiza password, dial the *848#  and select 1 to reset the password.

Read: A list of ABSA Bank Kenya Branch Codes

How to Send Money from Timiza to M-Pesa:

  1. Tap on the “Send Money” icon.
  2. Enter your Timiza-registered mobile number.
  3. Enter the amount you wish to transfer and press “Continue.”
  4. Enter your Transaction PIN and press “Continue.”
  5. Enter the One-Time Password (OTP) sent via SMS and complete the transaction.
  6. You will receive a confirmation message from both M-Pesa and Timiza.

Alternatively, you can:

  • Dial *848# on your M-Pesa line and select “Send to Mpesa.”

Please note: The transaction amount on Timiza ranges from Ksh. 50 to Ksh. 150,000, with a maximum daily limit of Ksh. 300,000. Transaction fees may apply.

How to Repay Your Timiza Loan via M-Pesa Paybill:

  1. Open the M-Pesa menu or dial *334#.
  2. Select “Lipa Na Mpesa.”
  3. Select “Pay Bill.”
  4. Enter Timiza Business Number: 300067.
  5. Enter your Timiza-registered mobile number as the account number.
  6. Enter the amount you want to repay.
  7. Enter your M-Pesa PIN and confirm the details before sending.

Timiza Loan Interest Rates and Fees:

  • Timiza charges an interest rate of 1.083% and a facility fee of 5% on the borrowed amount.
  • The loan repayment period is 30 days.
  • Failure to repay within 30 days will attract a rollover fee of 5%.
  • You can borrow from Ksh. 50 to Ksh. 100,000 based on your credit score and loan limit.
  • Repaying your loan early boosts your chances of obtaining higher limits.
Read Also:   How to Fuliza MPesa, Activate and Get Loan

Disclaimer: Transaction limits and fees may change. For more information, please visit the ABSA Bank website.

See Also: List of Mobile Loan Apps in Kenya and their Interest Rates

Remember, the more you transact on the Timiza app, save, borrow and repay your loans on time, the more your loan limit grows.

Grow Timiza limit
Timiza loan limit.

Other Services Available on Timiza

  • Save and earn Timiza saving interest of up to 9% p.a
  • 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 expenses 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: timiza@barclayscorp.com
  • Facebook: facebook.com/TimizaKE
  • Twitter: twitter.com/timizake