Timiza Loan

The Timiza loan app, a product of Absa Bank, provides Kenyans with mobile loans, aiming to offer a straightforward and convenient way to access credit for the general populace. With Timiza, users can enjoy several advantages including instant approvals, competitive interest rates, fast repayments, convenience through mobile phone applications, and flexible repayment options.

How To Download Timiza Loan App

Here’s a simplified guide on how to download and install the Timiza loan app:

  1. Timiza App is accessible on both Google PlayStore and the IOS App store.
  2. Depending on your phone type, whether Android-based or iPhone, visit the respective store.
  3. Search for “Timiza” (simply the word “Timiza” will suffice). Ensure it’s from Absa Bank Kenya PLC.
  4. Download the app and proceed to install it on your device.
  5. Once installed, you’re all set to use the Timiza loan app. Download and installation completed.

How to Register and Apply for Timiza Loan

Here’s a guide on how to register on the Timiza app:

  1. Open the Timiza app on your smartphone after downloading it.
  2. Follow the prompts provided within the app to register for Timiza. The registration process is straightforward and typically takes less than 5 minutes to complete.
  3. There’s no need to physically visit a Timiza branch or Absa Bank to register. All you need is your mobile phone and the Timiza app from Absa Bank.

Regarding applying for a Timiza loan:

  1. After successfully registering on the Timiza app, ensure you meet the necessary qualifications to apply for a loan. These qualifications may vary and are typically outlined within the app or on the Timiza website.
  2. Once you’ve confirmed your eligibility, navigate within the Timiza app to apply for your first loan. Follow the provided instructions to complete the loan application process.
  3. Timiza usually provides information on the loan application requirements and procedures within the app for users’ convenience.

Requirements for eligibility for a Timiza Loan

To be eligible for Timiza Loans, applicants must meet the following criteria:

  1. Be an M-PESA subscriber for at least six months.
  2. Demonstrate active usage of other Safaricom services, including voice, data, and M-PESA.
  3. Maintain a good credit rating with the Credit Reference Bureau (CRB). (You can check your CRB status through various methods.)

Once eligibility is confirmed, you can check your Timiza loan limit directly on your phone. If you meet the requirements, you can proceed to apply for a loan.

There are two primary methods to apply for Timiza loans:

  1. Through the Timiza Loan App.
  2. Via the Timiza USSD code.

How to Apply for Timiza Loan via App and USSD

Here’s how to apply for a Timiza loan using the Timiza App:

  1. Open the Timiza App on your smartphone.
  2. Navigate to the Timiza homepage and select “My loans” to view your loan limits.
  3. Tap on “Request a Loan” to initiate the loan request process.
  4. Enter the desired loan amount (within your limit) and tap “Continue.”
  5. Wait for a few seconds while Timiza processes your request. You’ll receive a notification regarding the loan approval status.
  6. If approved, the loan will be disbursed to your Timiza Account. To transfer the funds to M-Pesa, you must initiate a withdrawal; it is not done automatically.

To apply for a loan using a USSD code, follow these steps:

  1. Dial the Timiza USSD code *848# on your phone.
  2. Enter your Timiza PIN when prompted.
  3. Select option 4 for loans.
  4. Choose “Request Loan” from the menu options.
  5. Enter the desired loan amount when prompted.
  6. Timiza will confirm your request and send the money to your account.

That’s how you apply for a loan with Timiza, either through the Timiza App or using the USSD code.

How to Pay my Timiza Loan

To repay your Timiza loan, follow these steps:

  1. Go to the M-Pesa Menu on your phone.
  2. Choose “Lipa Na M-Pesa.”
  3. Select “Pay Bill.”
  4. Enter 300067 as the PayBill number.
  5. Key in your Account Number, which is the phone number used to open your Timiza account.
  6. Enter the repayment Amount.
  7. Input your M-Pesa Pin.
  8. Press “Okay” to authorize the transaction.

By repaying your loan on time, you contribute to building a good borrowing record, which may lead to an increase in your loan limit with Timiza.

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