The Timiza loan app is an Absa Bank product that offers mobile loans to Kenyans. Absa’s goal is “to provide a simple and convenient means of accessing credit for the masses.”
The loan app offers various benefits such as instant approvals, low-interest rates, quick repayments, convenience through their mobile phone apps, and easy repayment methods.
Today, I will show you how to easily access mobile loans from the Timiza mobile loan app. We will also show you how to download the Timiza app or use the USSD code in order to access the loan.
How to access Timiza Loan App
Below are links and how to download and install the mobile loan app:
- The app is available on both Google PlayStore and IOS App store.
- Visit the store based on your phone, android based or iPhone.
- Search for Timiza (make sure it has the logo as the featured photo above). Make sure it is from Absa Bank Kenya PLC.
- Download the app and install it on your phone.
That’s it; we are done with the Timiza loan app download and install it. Let’s move to the next step
How to Register on Timiza App
Now that you’ve downloaded the app to your smartphone, the next step is to register. To do this, open the mobile app on your phone and follow the prompts to register for the Timiza app. The process is straightforward, and it should take you less than 5 minutes to complete.
As you can see, there is no need to visit Absa bank to register. All you need is your mobile phone and the mobile app from Absa Bank.
How to Apply for a Timiza Loan
After registering for Timiza App, this is how to apply for your first loan. Before you get any loan from the Timiza loan app, you must qualify, and these are the requirements.
What are the requirements for eligibility for a Timiza Loan?
To be eligible for Timiza Loans, each applicant must:
- Be an M-PESA subscriber for more than six months
- Actively use other Safaricom services such as voice, data, and M-PESA.
- Have a good rating at the CRB (How to check CRB Status)
If you meet the above requirements, you can check your Timiza loan limit on the phone. Then you can apply for a loan.
There are two ways which you can use to apply for Timiza loans:
- Through the Timiza Loan App
- Via Timiza USSD code.
Here is how to use each of them.
How to apply for a Loan on the app
To apply for Timiza loans through the Timiza App:
- Open Timiza App
- On the Timiza homepage, select ‘My loans’ to see your loan limits.
- Now tap on “Request a Loan” to request Timiza Loans.
- Enter the desired amount for which you want (within your limit) and tap “Continue.”
- After a few seconds, Timiza will notify you if the loan has been approved.
- They will send it to your Timiza Account.
To get the money to M-Pesa, you have to withdraw it to Mpesa; it is not automatic.
How to apply for a loan with a USSD code
As mentioned above, another way of applying for Timiza loans is via the Timiza USSD code. Here is how:
- On your phone, Dial Timiza USSD code *848#
- The next prompt will ask for your Timiza PIN; enter it.
- There will be several options; select option 4: loan and send.
- In the next screen, choose “Request Loan.”
- Next, enter cash, enter the amount you wish to borrow in the final step.
- Timiza will send you a confirmation and your money.
That is how you apply for a loan from Timiza.
Loan terms and conditions
Timiza loans have a 30-day term with a five percent one-time facility fee. They also charge an additional five percent if the loan is not repaid within thirty days.
Their loans are up to Kes 150,000 paid within one month. It is worth noting that all Timiza fees have included 20% Government excise duty.
- Want to know more? Have a look at the Timiza FAQs and terms and conditions
How to repay Timiza Loan
Repaying the loan n time contributes to a good borrowing record and increases the user’s loan limit. Below is a guide on how to repay the loan.
- Go to Mpesa Menu on your phone
- Choose “Lipa Na Mpesa.”
- Select Pay Bill
- Enter 300067 as the PayBill number
- Key in Account Number (Phone Number used to open Timiza account)
- Enter Amount
- Enter Mpesa Pin
- Press Okay to authorize the transaction
Knowing what the Timiza app is about from this article, you can now use it for its rightful purpose. It would help if you noted that the money should be used correctly when borrowing from the app since you must repay it with interest.
Benefits of Timiza app
With the app you can access the services below that you can access as the same one who has an account with Absa:
- Higher loan limits
- Lowest facility fees at 5% compared to the market
- Differentiated and lower pricing for good repeat borrowing customers
- Incentives for early repayment, good transacting behaviour and loyalty
- Save with Zidisha savings account
- Get instant loans on your phone
- Deposit funds into Timiza
- Pay KPLC/ZUKU/DSTV/GOTV bills
- Purchase insurance
- Buy airtime
- Get insurance (personal accident and last expense)
- Request for a cab (Mobile app only)
ABSA Timiza Customer Care Contacts
Phone: 0709 213 000, 020 42 65 000
Email: [email protected]