Are you in a financial fix and wondering what to do? Well, it happens to all of us occasionally and that’s where the Timiza loan app from Barclays bank comes it.
For starters, the app is pretty interactive and has rock-bottom interest rates (More on this later)..
In addition, they can lend you as much as shs.1000000! (Of course, over time).
Here is how to borrow an instant emergency loan from Timiza in less than 5 minutes.
Timiza Loan App: How to access an MPESA loan fast from Timiza
You simply dial *848# from your phone and follow the prompts to borrow from Timiza.
Otherwise, follow these steps to borrow from within the app..
Step 1: Timiza App Download (free)
You start by downloading the Timiza App from your phone’s Google Store.
Just open Google Playstore in your phone and locate the app.
You can search for the app by typing Timiza loan app in the Playstore’s search area.
You then wait a few seconds.
Next, tap on Install immediately Timiza comes up.
Don’t forget to allow the app the necessary permissions.
Step 2: Registration
Next, you need to register.
Click Open and enter the required details.
You will type your Safaricom number and the National ID number. You will then be required to verify by keying in the sent SMS code.
After this, you set a suitable PIN and confirm it. You will be using it to log into the Timiza loan app.
Congratulations! You have successfully opened a Timiza transactional account
Step 3: Timiza Loan application
We now come to the step you have been waiting for….loan application…
- Log into the app (if you had closed it) using the PIN. You will view your loan limit as soon as you access the app’s interface.
- Click My Loans.
- Choose Request Loan.
- Type the loan amount to borrow (below or equal to the loan limit).
- Click Continue.
Remember that your Loan will be disbursed to your Timiza account (and not straight to Mpesa).
As a result, you have to withdraw the cash to MPESA (from Timiza) for it to be available for withdrawal from an MPESA agent.
Timiza Loan app: Conditions and other requirements
Barclays Timiza loans are open to everyone.
You, however, must meet the following conditions..
- Be a registered M-Pesa user and have been actively using MPESA for at least six months ahead of the application date.
- You must hold a Kenya National ID card (Sadly, Timiza doesn’t accept Kenyan passports).
- Besides, you ought to be a user of various safaricom services such as voice and data.
- You must also not be listed on CRB.
Finally, a good credit score rating is also important. This depends on your credit history.
Timiza Loan app: Interest and other charges
Timiza has extremely fair loan charges compared with other loans apps in Kenya.
To start with, the loan processing fee is just 5% (of the amount borrowed).
Additionally, the app charges a measly 1.08% as loan interest.
Note that the bank may add a rollover charge for late loans.
The is usually 5% of your outstanding loan amount.
How to Pay Timiza Loan.
You can pay your Timiza loan either via paybill, USSD, or from the app.
Here is how..
How to repay your loan using Timiza paybill number 300067
- Open your MPESA menu.
- Choose Lipa-na-MPESA.
- Click Paybill
- Type the Timiza pay bill number 300067.
- Now type your Timiza-linked Safaricom number as your account number.
- Type the Amount to pay.
- Type your MPESA Pin.
- Confirm everything then click OK.
Timiza sends you a confirmation message shortly thereafter.
How to Pay Timiza Loan using USSD code
You can as well dial *848# then type your pin.
From there, select loan and finally select pay loan.
How to Pay Timiza Loan from the app
This method requires that you log into your app first.
- Click on My Loansfrom the app’s main menu.
- Choose Pay loan and specify the amount you wish to pay.
- Proceed to complete the easy steps.
How to grow your Timiza loans Limit
To access bigger loans, try to make more savings on the Zidisha savings account while simultaneously borrowing more frequently.
Transacting more from your Timiza account may also contribute to a positive loan limit review.
You can, for example, choose to be paying your bills directly from your Timiza phone-based bank account.
You should also try to use MPESA more regularly, for instance, when making purchases (Lipa na MPESA), to send cash to friends, and more.
Above all, always repay your loan before the due date
What to do if you forget your Timiza PIN
You can reset the pin by clicking on the Forgot Pin option from inside the app.
The app prompts you to answer the secret question you had set up when registering on Timiza. Do so to proceed with the PIN reset process.
You can always call the customer care team if you run into headwinds (check the contacts below).
Timiza Loan Contacts
So, where can you channel your Timiza queries?
Well, you can interact with the friendly Timiza service team via these details…
Mobile telephone numbers: 0709213000/0204265000
Email address: [email protected]
Timiza Facebook page: https://web.facebook.com/TimizaKE
Timiza on Twitter: https://twitter.com/TimizaKE (@TimizaKE)
Timiza loan app: Other services
Besides borrowing emergency loans, you can execute a host of other tasks from Timiza including:
- Saving funds to your Zidisha savings wallet
- Paying for your KPLC, ZUKU, GOTV, DSTV, Nairobi Water, and other utility bills
- Purchasing an insurance cover (personal accident or Funeral cover)
- Buying phone airtime
- Querying your Timiza balance.
- Requesting an account mini statement.
- Booking a cab from Little Cab
Timiza Loan App: Frequently asked questions/Help
How do I sign up for Timiza loan app?
Dial *848# or download the app and follow the steps.
How do I access my Timiza loan via SMS?
Again dial *848# then type your PIN. You then select loans.
How do I borrow from Timiza?
- Log into the app.
- Click My Loans.
- Select Request Loan.
- Type the loan amount to borrow.
- Click Continue.
How can I check my Loan limit?
To confirm your current loan limit, open your Timiza mobile app then select the Loan option. Lastly, click Check loan limit.
Note that the app displays loan limits only for qualifying users.
Can I apply for a Timiza loan immediately I opt-in?
Sure. The app instantly displays the loan amount available to you (if you qualify) as soon as you log in. Simply follow the above procedure to apply.
I have been trying to borrow but the app fails and suggests that I check my internet connection. Help.
Well, in this case, try to use the Timiza loan app USSD code *848#.
I am dialing *848# only to be asked for a PIN yet I am new!
For this error, call customer care via the Timiza loan contacts 0709 213 000/020-4265000 to be assisted. The company insists on actual calls when resetting your PIN to reduce forgery and fraud incidences.
Can I pay Timiza loan in Installments?
Yes, sure. But you have to pay off the full amount within one month.
Can I apply for Timiza loans from a Barclays Branch?
Timiza is a wholly mobile-based and you must either dial *848# or use the Timiza loan app to seek an advance.
In a nutshell, Timiza is not connected to your regular Barclays bank account.
I blocked my PIN. Help.
Well, call Barclays Timiza team on 0709213000 or 0204265000. They will guide you on PIN recovery.
What happens if ignore and fail to pay back the loan?
Well, you won’t like this…
First, your information will be forwarded to all the CRBs for blacklisting making it difficult to get loans from other apps and banks/SACCOs.
Then, you’ll be permanently blocked from accessing further loans from the app henceforth.
What’s more, the bank typically requests their contracted debt collectors to take further action on your account.
That being said, the app automatically extends your repayment date by an extra 30 days if you go past the deadline.
And like I had previously mentioned, this attracts a 5% Roll-Over fees on your accrued loan balance.
Can you borrow another loan before clearing a pending loan?
Nope! You have to clear your previous debt first before making another Timiza loan application.
Can I register another Safaricom line on Timiza?
No. You are only allowed to register one Safaricom line.
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