Here is a complete guide on how to apply for a Timiza loan fast. The Timiza loan app by ABSA Kenya (formally Barclays Kenya) is the money lending app you need to apply for and borrow money quickly in Kenya. In addition to that, this money is deposited into your M-Pesa wallet fast i.e. within 5 mins.
Are you looking to apply for an instant loan for your mobile phone in 2022? Timiza loan app is one of the most popular loan apps in Kenya giving users instant cash to their phones. Here we take you through how to apply for a Timiza loan fast, by quickly downloading the app, registering, and qualifying.
Follow this step-by-step guide to take you through how to easily download, install and apply for a Timiza loan on android and ios mobile phones.
Steps on how to apply for a loan on Timiza banking app
- Open the Timiza app on your phone.
- Enter your four-digit pin to log in.
- Select ‘Go to my loans‘. You will notice that this will be displayed on the app.
- Select request loan
- Enter the amount you wish to borrow but make sure not to go over your loan limit.
- Press continue to apply.
- Now wait for Timiza to confirm if loan has been processed.
- The money will be deposited into your Timiza account.
- Proceed to transfer the money to your mpesa account.
You see, applying for a Timiza loan is a very easy process. All you require is to download and install the app, then follow those simple steps.
Follow the steps below to download Timiza on your phone.
How to download Timiza loan app on your android phone
- Open the Google playstore on your android phone
- Now search for Timiza loan app and press enter on the keyboard
- Select Timiza from the results.
- Now press Install to get the app downloaded and installed on your phone.
- Once this is complete, press open.
And just like that, you now have the Timiza loan app by Barclays installed on your phone. Now you can proceed to apply for a loan. One of the major steps you need to follow when applying for money using the timiza loan application is to make sure you have registered for an account.
Download Timiza loan app on ios on your apple device
- Open the app store on your iPhone.
- search for Timiza loan app and press enter
- Select Timiza from the results
- Now press add in order to download and install the app on your iPhone.
- Wait for the app to download and finish installing.
- Open the app and let it launch.
Once you have the app ready and installed on your phone, we can now move on to the next step which is registering for a Barclays Timiza account. After you have registered successfully, then it’s time to apply for the Timiza loan next.
Something ABSA have done with Timiza app is that they have also made it available for the apple iPhone running IOS. This makes it one of the few loan apps in the Kenyan market that is available for both android and IOS operating systems.
How to register Timiza Account by ABSA ( formerly Barclays)
Before you apply for an ABSA (formerly Barclays Kenya) Timiza loan, you will need to open an account. Here is a step by step of how to open a timiza account:
- Open the Timiza app that you have downloaded and installed.
- Enter your Safaricom phone number
- Then enter your National ID number
- Timiza app will check your registration.
- It should show SUCCESS if all goes well.
- Once confirmed you’ll receive your Timiza PIN via SMS.
- Using this PIN you have received from Timiza via SMS, that is how you’ll login into the app and apply for an instant loan.
You see, the process of registering for a Timiza account by ABSA (formerly Barclays Kenya) is very simple and straight forward. All you require is your Safaricom number and your identification document number.
Steps on how to apply for a loan using Timiza USSD number *848#
Follow these steps to apply for a Timiza loan by dialing *848#
- Dial *848# on your Safaricom line.
- Key in your 4 digit PIN and press OK
- Select Option 4 for loans.
- Then select option 1: request a loan then option 1: get cash for apply loan.
- Enter amount to borrow.
- You will receive a confirmation message that your loan has been disbursed to your Timiza account.
- Now, to withdraw your money to m-pesa, dial *848# and login.
- Select option 2 to withdraw money to your mpesa account.
- Await confirmation message from mpesa that money has been received
This process of applying for a loan on Timiza. Most users opt to apply for the loan using the android app. However, with this method of dialing *848# you are able to apply for a loan on any phone, not just smartphones, using USSD, at any time.
How to apply for a ABSA Timiza loan using the android app
Let’s say you need a quick loan, you can quickly apply for one easily on the Timiza banking app. for this to work, make sure you have downloaded the Timiza app from the Google playstore. If you haven’t yet, check out our step by step tutorial of how to download Timiza. Please note that you can only operate a Timiza Barclays account from your mobile phone.
Repay Barclays timiza loan for android and apple ios
Repaying your loan
But as we all know, there comes a time when you need to repay what you borrowed. It is important also to repay in good time to avoid being listed on CRB and also not to get fined by Timiza for late loan payments.
How to repay your Timiza loan step by step
Follow these steps to pay back your Timiza loan
- Open your Timiza app and Log in
- Select my loans
- Now click on Repay loan
- You will be asked if you want to make partial payments or to clear the amount in full
- Next, you will select the account from which the amount will be deducted i.e. mpesa or Timiza
- Now, you will need to key in your Transaction PIN (This is the PIN you use to log into Timiza app.)
- Select continue.
With this process of repayment, the money is either deducted from your Barclays Timiza account or from your mpesa account. For this process to go smoothly, always make sure that you have enough money in your account(s) to complete the payment.
What happens if you overpay more than the total loan amount in Timiza?
If for some reason you overpay your Timiza loan, there is no need to worry. The extra amount you paid will be credited to your Timiza account. This means that the money will be reflected in your account and you can use it as you please.
Timiza penalty for late loan repayment
Failing to make the full loan repayment of the amount borrowed from Timiza will attract a fine (roll-over fee) of 5% of the loan amount. Once this fine is applied, your repayment period for the loan will be extended by 30 days.
How do you deposit money into the loan app using the Timiza mpesa pay bill number?
Follow these steps to deposit money into your Timiza app account using the paybill no:
- On your phone, open the mpesa menu.
- Next you Select lipa na mpesa.
- Enter the Timiza business number 300067.
- Then, input account number. This is your Safaricom mobile number usied to register on timiza.
- Enter the amount to send.
- Finally, enter the Mpesa PIN and press OK.
Depositing money into your Timiza account is a very straight forward process. Just make sure you have enough money in your mpesa account and proceed to send it to the Timiza application. Please note that mpesa charges do apply when you are making the deposit.
What else can you do with the Timiza?
Not only can you apply for a loan with the Barclays Timiza app, you can also do the following things conveniently logged in:
- Use Timiza to save money by depositing it directly to your account from mpesa.
- Do Balance inquiries and ask for mini statements.
- Pay several service provider bills such as; KPLC, GOTV, DSTV, ZUKU and Nairobi water company.
- Make a purchase of airtime i.e. Buy airtime
- Check the forex exchange rates.
- Apply for insurance
- Book a taxi ride with little Cab.
This makes the Timiza banking app a very unique app in the Kenyan loans market. It has a lot of modern-day features that make it stand out as more than just a loan app.
What is a Timiza transaction PIN?
As a Timiza app user, you will normally be asked for a Timiza transaction PIN when you use any of the Timiza services. The Timiza transaction PIN is the 4 digit number that you use to log in to your banking app. This transaction PIN is so as to make your transactions more secure on the app.
Timiza loan repayment options: Full Payment or Partial payment?
When you are repaying your Timiza loan, the app gives you two options to do this. That is the full payment option or the partial payment option. Having these options helps app users to decide what type of repayment they want to make.
If you pick the full payment option, this means you commit to repaying the full amount of money borrowed from Timiza with one payment. On the other hand, the partial payment allows you to make loan payments slowly, yaani kidogo kidogo.
Timiza Interest Rate and Maximum – Minimum amount to borrow
So, how much interest do you pay on Timiza loans? Timiza loans attract an interest rate of 6.17% which includes a processing fee of 5% and interest of 1.17%. Compared to other lenders like tala and branch, that is a very attractive interest rate.
When it comes to the maximum and minimum amount which you can borrow from Timiza, the minimum is Kshs 50 while the maximum amount is up to Ksh 100,000.
For the Timiza loan repayment period, the loan is to be paid back within 30 days from the day you borrow and receive the money into your account.
What are the requirements for a customer to open a Timiza account?
Here are the requirements for a new user to register and open an account on the Timiza loan app.
- Have an active Safaricom line
- You need to have a registered MPESA account.
- Have a Kenyan National ID, so you must be at least 18 years to qualify.
- Be an MPESA subscriber for 6 months.
- Not be listed on CRB.
- And finally, you must have a phone. Either android, apple IOS or Symbian will do.
Well, for the Timiza loan application process to go smoothly; you need to make sure you have met the above requirements.
How do you withdraw money from Timiza into your mpesa account?
Once you have applied for your loan on Timiza, the money is first sent to your Timiza account. From the Timiza account, select withdraw to send the cash to your mpesa wallet.
How to contact Timiza customer care to get quick assistant
Timiza has different ways in which you can contact them to get support and help. That is through; Telephone numbers, social media, and by sending email. Here are the customer care details.
Contact through Telephone
The quickest way would be to dial the following Timiza customer care telephone number:
- 0722 130120
- 0732 130120
- 020 3900000
Contact Timiza through social media
One thing the Timiza team has done is to provide options when it comes to reaching Barclays Timiza customer care. You can see that they are very active on twitter and facebook. Here are social media channels you can contact them on:
- Using the Timiza Twitter handle: @TimizaKE https://twitter.com/TimizaKE
- Also use Timiza Facebook page: TimizaKE https://www.facebook.com/TimizaKE/
Contact Timiza through email
Another option you can use to reach Timiza customer care is by using their email address [email protected]
The most likely reason for choosing Timiza it’s because you are in a tight financial spot and need cash in your pocket quickly an easily for an emergency loan.
The good thing about the Timza loan facility is, you can apply for a loan using an application or by dialing a code on your phone and pressing call. This is through a USSD code on your phone. So there is no need to install the Timiza loan app directly on to your android phone.
What this does is give users a choice between using the Timiza mobile application online on android or IOS; or just quickly dialing Timiza on *848# using your Safaricom line and begin applying for a loan. Although it’s good to note, from testing out both loan application methods for Timiza, applying for the loan using the app is much easier.
Timiza offers loans directly to your mobile phone that range from 50 ksh to 100,000 ksh. So if you need to borrow 1000 ksh to push you through the week or 30000 ksh to pay rent, Timiza has got you.
You have come to the right place. This step-by-step guide by saidia on how to download, install and apply for a Barclays Timza loan in Kenya. It will give you all the details you need. All you need to do is follow these simple instructions and you will borrow a loan fast.
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