How to apply and qualify for a Timiza loan – loan app and USSD
During times when you need a quick cash loan sent directly to your mpesa account, that’s when Timiza loan app comes to help. Here we show you how easy and quick it is to install, apply and qualify for a mobile loan using the app on your phone.
We all have that moment when we need to get a loan by doing a Timiza loan application. Barclays bank Kenya (now ABSA bank Kenya PLC) created an instant mpesa loan app that quickly and easily helps people apply for a loan.
Am sure you have had a situation where you needed money urgently. Maybe gas imeisha ukipika, electricity tokens have finished or you have a medical emergency! Then you have come to the right place.
Below I shall take you through the step by step process of applying and eventually qualifying for a Timiza loan.
Applying for the loan:
Before you apply for the loan there are a few things you need to make sure you have done. First, you need to have downloaded and installed the Timiza app by Barclays on your phone. Second, make sure you have completed the registration process for Timiza cause this will give you access to use the app. Finally, you need to have enough credit on your phone and internet access.
How to apply for a Timiza loan on the app step by step:
Follow the steps below:
- Make sure you have Timiza installed from google playstore.
- Open the app on your phone.
- Log in using your PIN.
- Check your loan limit. It will be shown on the home screen “Your Timiza loan limit is KSH **,***”
- Select My loans.
- Choose Request loan.
- Input amount of money you want to borrow. “How much do you want to borrow”
- Press continue.
- Timiza will confirm that the loan application was successful
- Wait for a message from Timiza SMS confirming you have qualified for the loan.
You can also check out this video that takes you through on how to apply for a loan on the android app.
The user interface on timiza is very clean which makes the app very easy to use. Applying and qualifying for an unsecured loan is quick and easy. So if you are looking for instant online loans same day in Kenya, then this is the app for you.
There is another way in which you can apply for a loan on Timiza. With this method, you don’t even need to download and install the app on google playstore.
How can you do this?
Well, you can apply by dialing *848# on your mobile phone. Whether you have a smart mobile phone or a none smart mobile phone. Check out how you can apply for a Timiza loan without using the app below.
How to apply for a Timiza loan by dialing *848# USSD on your phone step by step
Follow these steps:
- Dial *848# on your mobile phone. Make sure you have registered for a timiza account.
- Enter your Timiza PIN to log in and press send.
- Select option 3: Loan and then press send.
- Now, select option 1: request loan and press send.
- Next, select option 1: Get Cash and press send.
- Enter the loan amount you want to receive and press send.
- Confirm the amount you have applied for and select accept then press send.
- You will receive a confirmation SMS from Timiza.
Check out the step by step video prepared by Barclays (now ABSA) on how to borrow a loan on timiza by dialing *848#.
Most people normally refer to this method getting a loan as timiza loan application through SMS. However the technology used to apply for a timiza loan is USSD. The good thing is that it works with every phone. So go ahead and give it a try.
Note: you won’t get a lot of the functionality that the timiza android app and Timiza IOS app have when using this method to apply for a loan.
Timiza app PIN issue
There have been reports of users registering on the Timiza app and not receiving a PIN. Getting a PIN is a very important step when you are applying for a loan on this app. First what you need to do is go through your SMS messages in detail, sometimes it could just been you missed the text from Timiza.
Second, if that does not work, exit the Timiza app and open it again. Wait and see if you will be given the option to begin the registration process afresh.
If you are still experiencing this problem, there is no need to worry. All you need to do is contact the Timiza team and they will help you get a PIN. Their telephone number is 0722 130120. Or you can also contact them through the following ways.
Interest Rate and Maximum amount you can borrow
Timiza loans attract an interest rate of 6.17% which includes a processing fee of 5% and interest of 1.17%. The loan is to be paid back within 30 days.
You can borrow from 500 KSH to 100,000 KSH on this mobile loan app.
What are the requirements for a customer to open a Timiza account?
- Have an active Safaricom line
- You need to have a registered safaricom MPESA account
- Have a Kenyan National ID.
- Be an MPESA subscriber for 6 months.
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How can I pay for my outstanding loan balance having lost or no longer my phone number that I used while registering for the loan?
Hi. if it’s possible to replace your line, than that will be the best way. After replacing your line, repay the loan and wait to be cleared from CRB and get your batch number. If that is not possible, get in touch with Timiza then follow up with CRB by contacting them and finding out who has listed you.