Last updated on January 9th, 2021 at 10:50 am
While you have been awestruck in Kenya, thinking about borrowing some money, here we introduce to you the Timiza loan service that allows you to borrow a loan. With Timiza, you are welcomed to do mobile banking at the touch of a button. Why not get some idea about this application on a comprehensive note?
What is Timiza Loan App?
Timiza loan app is a wondrous invention in the history of mobile banking applications. It allows anyone residing in Kenya to claim instant low and high-cost loans with just a tap on their device. From borrowing money to repaying back loans, and purchasing insurance plans, Timiza will have you covered in every money-driven issue.
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Timiza Loan Requirements/Eligibility
An application that allows you to get through loan borrowing issues also comes with certain limitations. There is a set of requirements every Timiza loan app fan needs to follow. For anyone who wants to become a member of the Timiza loan app family must have the following criteria fulfilled. They are:
- Must be a registered subscriber from Safaricom
- Must be a subscriber of M-Pesa for a minimum six months period prior to the application date of Timiza loan
- Must have frequent transactions on Barclay bank’s Timiza loan app
- Must have an active M-Pesa account or Safaricom line
Hold the identification document as a Kenyan national citizen. (Note: Acquiring a Kenyan passport will not be seen as adequate proof)
How to register for Timiza loan app?
During bad times, one always finds ways to come out of the situation frantically. And, when the situation is as critical as getting stuck financially, people usually outage when no help seems to be forthcoming. If you are a Kenyan, dealing with such issues recently, you have good news. You can gain access to an easy-to-use mobile application that allows you to transfer and receive loans, all while enjoying a marginalized and unbanked position.
You do not require to have a bank account to enjoy the money access! The best part, isn’t it?
Now that you wish to apply for a Timiza loan online, the first question that will pop out of your head is how to get registered. We will have you covered without any further delay.
So, here are the steps:
- Open your android device and open Google’s Play Store
- Search for the Timiza application in the search section of Play Store
- Once you find it, click on the install button
- Install the application on your device (the preferred device is Android)
- Clicking on the install button will initiate the installation procedure
- After it is installed, click to open
- You will receive prompts where you will be asked to grant permission to make or manage calls or read messages
- Allow the prompts
- Enter the ID number of your Safaricom line to complete the registration process
- Lastly, the application will ask you to set a password for the app. you will require to enter the password every time you open the app
How to USE?
After you have completed the registration process and set up a pin for your application, you should know how to get started. Log into the application using the required credentials to use the app. The app will display your credit limit as soon as you will log in. Follow the steps to borrow a loan:
- Select the icon that shows ‘My loans’
- Click on the icon ‘Request loan’
- Enter the required amount
- Click on the ‘continue’ button
- Here you see, using the Timiza loan application is as easy as ABC and all that you need to follow the steps mentioned above.
What is Timiza Loan Limit and how to grow it?
The limit for Timiza loan app usually ranges between Ksh 50 to Ksh 100,000.
(Note: the repayment history will largely influence your credit score, which will also perform the function of a valid determining factor for future loan increments.)
In order to grow the Timiza loan limit, you will have to increase the M-Pesa services usage, increase the credit on the zidisha savings account, and increase the transaction activity on the Timiza account.
How to get Timiza loan without App and with SMS/USSD?
Open the Safaricom line linked with Barclay bank and dial *848# to send an SMS to Barclay’s Timiza account. You will be granted to borrow a loan within three business days.
How to Pay Timiza loan via M-Pesa Paybill number?
In order to repay or deposit the Barclays bank Timiza loan, follow the given instructions:
- Open M-Pesa menu in your device
- Select the ‘Pay bill’
- Enter the business number- 300067
- If you have registered with your phone number, use it as your account number
- Enter the amount you wish to repay
- Enter the M-Pesa pin
- Clock on ‘ok’
- M-Pesa will send you a message if the transaction is confirmed from their end
Timiza Loan Interest Rate/Charges
Loan charges are CBR + 4% (1.083%)
Late Payment Penalties
Anyone who exceeds the outstanding loan amount must pay a rollover fee of 5 %.
How to download Barclays Timiza loan app
Downloading and installing the app is not a tough task. Even a 5th standard child can do this easily. Nowadays the real task is finding the app that you want to install because there are many fake apps in the market.
But you don’t need to worry about it because you just need to follow these steps to install or update the app.
For Android Users
Android users can follow this link to install or update the Timiza app free.
For iOS or iPhone Users
iOS users can find this app easily on the apple app store. But if you still find any difficulty in installing the app then follow this apple app store download link.
You can install or update the latest versions of the Timiza app by following the same links.
For the app’s apk version, visit apkpure.com
Timiza Contact Details
|Customer Care Number||0709213000|
Timiza loan app is the most convenient way of gaining access to credit in no time. The best part being, one need not spend an ample amount of time filling out a loan application form. Moreover, you also get the advantage of avoiding those crowded banking rooms as Timiza allows money transfer via a mobile device.