How To Access, Apply, Repay Your Mobile Loans And Save With Timiza

Mobile financial solutions have recently blown up in Kenya and while there is still space and gaps to be filled, some of the mobile services are offering exceptional and unique products, which is why the Timiza App by Absa Bank is still the one of the best.

Absa bank launched a mobile application called Timiza that makes it possible for users to apply for loans instantly.

For thousands of Kenyans, Absa bank has developed a modern easy-to-use mobile app, which offers fast and easy loans to all smartphone users including the marginalized, remotely located, and the unbanked population.

Timiza Mobile App works more like Branch but has more features like buying airtime, insurance covers, paying KPLC bills and its unsecured loans come at a low-interest rate. Furthermore, you do not require a bank account with Barclays to operate a Timiza account.

How to access TIMIZA

1. Download the app from Play Store: Timiza
2. Click on the install button
3. Once installed, click on Open
4. Allow the Timiza app to make /manage calls / read messages
5. Enter your Safaricom line, and ID number to register
6. Once done, you will set a pin for logging into the app
7. Log in to the app using the necessary credentials. You shall see that your loan/credit limit is displayed on the app.
8. Select ‘My Loans’
9. Select ‘Request Loan’
10. Enter the amount you wish to borrow.
11. Select ‘Continue’.

You can also apply for ABSA Bank’s Timiza mobile loan product through the USSD code *848# and proceed with the same pin like the one you use on the APP.

How To Pay Your Timiza Loans

1. You can pay the Timiza loan via MPESA business number 300067, the account number is the Safaricom phone number or you can simply dial *848#. Enter the pin, select the loan option, and select pay loan
2. Go to MPESA.
3. Select Lipa na MPESA
4. Select Paybill Option.
5. Enter the Business number as 300067.
6. Enter your Timiza Registered phone number as the account number.
7. Enter Your Payment Amount
8. Enter your MPESA Pin.
9. Confirm the details are correct then press OK

How much one can get from TIMIZA

The types of loans available at TIMIZA are the emergency loan and the in-store financing loan. To access these loans, one should navigate through the ABSA Timiza Menu on their phone, and use the ‘Request Loan’ menu

You are totally free to set a loan repayment period that works for you. However, note that the loan repayment period cannot be less than thirty days.

The bank may decide to accept or reject your loan request without reason. The bank will accept or decline your loan application via SMS sent to the mobile phone number associated with your ABSA Timiza Account

If the bank accepts your loan application, it shall disburse the amount to you. The minimum amount disbursed is usually 50 shillings while the maximum amount usually is 1,000,000 shillings.

How to save with TIMIZA using M-Pesa paybill 300067

1. Open M-Pesa on your phone.
2. Select Lipa na M-Pesa.
3. Now select the paybill option.
4. Enter the Timiza paybill no 300067.
5. Next, enter your account number. …
6. Now enter the amount you want to transfer to your Timiza account and press OK.
7. Enter your M-PESA PIN and press OK.

Benefits of saving with Timiza

1. Earn up to 5% return per year on a balance from KES100.
2. The more you save, the higher your chances of growing your loan limit.
3. Interest earned on balances from KES100.
4. If you make no more than 3 withdrawals per quarter, you can earn a bonus of up to 4%
5. Do free transfers to and from your Timiza account.
6. No minimum balance is required.

Benefits of Using TIMIZA

1. It has higher loan limits
2. You can transfer funds from M-PESA to Timiza and vice versa
3. The lowest facility fees at 5% compared to the market
4. Differentiated and lower pricing for good repeat borrowing customers
5. Incentives for early repayment, good transacting behavior, and loyalty
6. Save with the Zidisha savings account
7. Get instant loans on your phone
8. Deposit funds into Timiza
9. Pay KPLC/ZUKU/DSTV/GOTV bills
10. Purchase insurance
11. Buy airtime
12. Get insurance (personal accident and last expense)
13. Request for a cab (Mobile app only)