How to repay your Timiza loan

How to repay your Timiza loan: Easiest way to pay back using mpesa paybill

 

How to repay your Timiza loan

 

So now it’s time to repay your Timiza loan after you managed to apply and qualify for one. Just like the loan application process, paying back your loan is simple and straight forward.




Repaying your loan

When you are repaying your Timiza loan, you have two options. you can either use the app or dialing the *848# USSD service on your mobile phone. Just make sure that you have enough money in your Timiza bank account to complete the full loan repayment.

How repay Timiza loan using the app:

Here is how you do it:

  1. Open the Timiza app on your phone.
  2. Type your 4 digit PIN to login.
  3. Select my loans.
  4. Next, select repay loan.
  5. Choose full loan repayment.
  6. Select which account to pay from i.e. mode of payment either Timiza account or MPESA.
  7. If you are paying from Timiza account, Key in transaction PIN and press continue.
  8. Next, you’ll receive a message from timiza showing ‘Success’
  9. If you are paying from mpesa, you’ll receive an mpesa xpress pop up.
  10. Enter your mpesa PIN and Press OK.
  11. Wait for mpesa confirmation message.




This video by Barclays Kenya gives a detailed step by step on how to make your timiza loan payment.

 

 

How to repay Timiza loan using the *848# mobile service:

Follow these steps:

  1. Dial *848# on your phone and press the call button.
  2. Enter your 4 digit PIN and press send.
  3. Select option 3: Loan
  4. Next, select option 2: Pay Loan
  5. Now select option 1: Timiza loan Bal Kes. **.**
  6. Select option 1: Full Amount to make a full loan repayment.
  7. Select which account to pay from either M-PESA or Barclays Timiza Account.
  8. If you are using Timiza select option: 2 barclays Timiza account
  9. Next, select option 1: Accept
  10. Enter your Timiza PIN and press send.
  11. If you are paying from m-pesa, you will receive a pop up from mpesa.
  12. Proceed to enter your mpesa PIN and Press OK.

 

Check out this video that takes you through the whole process step by step.

 

If you do not have enough money in your Timiza, then you can top up your account using their paybill number 300067. Below find a step by step guide on how to top up your Timiza account using Safaricom’s mpesa service.

Deposit money into your Timiza account using mpesa paybill 300067

Follow these steps:

  1. Open mpesa on your phone.
  2. Select Lipa na mpesa.
  3. Now select paybill option.
  4. Enter the Timiza paybill no 300067
  5. Next enter your account number. This is normally your phone number 07** ******.
  6. Now enter the amount you want to transfer to your Timiza account and press OK.
  7. Enter your mpesa PIN and press OK.
  8. Wait for a confirmation message from mpesa.

Timiza paybill number:

Paybill is a service offered by safaricom that allows users to pay a business directly for a good or service using mpesa. The Timiza paybill number 300067 enables users to make deposits directly to their Timiza Barclays accounts.




Types of loan repayment on Timiza loan app:

Sometimes when you are making a loan payment for an amount you borrowed, you either have the full amount or part of the amount. Barclays bank (now ABSA) when rolling out the Timiza loan app realized this can happen and offered two options when you are making a repayment; Full or partial.

Note, these options are available both to the app users and also the *848# USSD service users.

Partial loan repayment:

As the word indicates, partial loan repayment allows you to pay part of the loan that was dispersed to you by Timiza. This means you can pay slowly as and when the money becomes available. A true haba nah aba hujaza kibaba moment.

Full loan repayment:

On the other hand, if you have the full loan amount with you, you can pay it off at once. This is the full loan payment option offered by Barclays Timiza.

Timiza loan repayment period

So, after how long are you required to repay your Timiza loan? The loan repayment period is 30 days from when you qualify and receive the money.

Late loan payment:

What happens when you fail to pay your timiza loan, or make a late loan payment? Well, Timiza will give you a short grace period, typically 15 days. After that, you will be charged a 5% outstanding amount on the loan due to delayed loan repayment.

Loan repayment options for Timiza:

Timiza is one of the  few Kenyan loan apps that allow you to make payments in more ways than one. You can use the typical method i.e. pay using mpesa service by safaricom or you can pay the loan directly using deposits in your Timiza account.

Pay using M-pesa within Timiza banking app:

  1. Open the Timiza banking app and key in your passcode.
  2. Select ‘go to my loans’
  3. Select the ‘Repay Loan’ option
  4. You will reach the ‘Pay my loan’ screen
  5. Select if you want to make a ‘Full‘ or ‘Partial‘ payment.
  6. Select the mode of payment ‘Timiza Account’ or ‘MPESA
  7. Here we select ‘Mpesa‘ and press ‘continue‘ mpesa paybill number is already selected for you. The Timiza paybill number is 300067.
  8. Here the mpesa option will open up asking you to input your mpesa pin. ‘Do you want to pay [*****] to Barclays Timiza account no [**********]. Enter Mpesa PIN
  9. Enter your m-pesa pin and press ok.
  10. You will get a confirmation message from m-pesa that payment has been made.
  11. Your loan is fully paid and you can proceed to request another Barclays Timiza loans.

Check out the Timiza banking app review by team saidia.




Pay using Timiza account in Barclays Timiza account:

  1. Open the Timiza banking app and key in your passcode.
  2. Select ‘go to my loans
  3. Select the ‘Repay Loan‘ option.
  4. You will reach the ‘Pay my loan‘ screen.
  5. Select if you want to make a ‘Full‘ or ‘Partial‘ payment [Link to full and partial payment]
  6. Select the mode of payment ‘Timiza Account’ or ‘MPESA
  7. Here we select ‘Timiza Account’
  8. Input ‘Transaction PIN’. This is the PIN number that you use to log on to your Timiza app.
  9. Continue to finalize paying the Timiza loan.
  10. Your loan is fully paid and you can proceed to request another Barclays Timiza loans.

 

Timiza Transaction PIN – Barclays Timiza Loan app fact :

Timiza Transaction PIN refers to the PIN number you use to log in to your Timiza banking account.

 

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2 thoughts on “How to repay your Timiza loan: Easiest way to pay back using mpesa paybill”

  1. Michael kipkurui kosgey

    Thank you for your support since I joined Timiza you’ve helped me a lot.
    but recently I applied for the loan and was shocked to be not having any limit and yet I had grownup to 38,000 without defaulting.
    Please highlight me on the issue thank you.

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