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Timiza Loan App – How to Apply, Complete Details Here

If you are looking for an instant loan, then the Timiza Loan app could be the answer. It is a product of Absa Bank Kenya Plc.

Timiza Loan

This article explains everything you need to know about Timiza Loan App. What are the requirements, interest rates, How to apply, how to increase the limit, how to repay etc?

There can be countless situations when you need money urgently. It could be a medical emergency or any other problem. Things get worse if you don’t have money in such a situation. The best way to tackle this is to avail of an instant loan through timiza or other loan apps.

Requirements for Timiza Loan

  1. Applicant must be an active user of Safaricom services.
  2. The applicant must be a registered M-PESA user for at least six months.
  3. The Credit Reference Bureau (CRB) and Safaricom’s Okoa Jahazi ratings of the applicant must be good.

Benefits of the Timiza Loan

  • Offers Higher loan limits
  • Lowest facility fees at 5% compared to the market
  • Offers Incentives for early repayment, good transacting behaviour and loyalty
  • Differentiated and lower pricing for good repeat borrowing customers
  • The loan amount is instantly delivered.

Timiza Registration – How to Create Account

Before you can apply for a loan, you need to register. The registration process is quite simple.

  • Download the Timiza App
timiza loan app download
  • Use the Signup Option
  • Enter asked details clearly and correctly
  • Verify your phone and email

After successful registration, you will have a 4-digit login pin to log into the application and apply for the loan.

How to Apply for a Loan on Timiza App

Applying for a loan is easiest when done from the Timiza app. You can download the mobile app for android & iOS.

  • Open up the App
  • Enter 4 Digit code
  • On the dashboard, you will see your loan limit. The amount you see on the screen is your maximum available loan amount.
  • Now, use the “Request Loan” option
  • Input the amount that you want to borrow
  • Click on “Continue”
  • Your loan request will be processed shortly
  • The amount will be credited to your Timiza account, which can be transferred to your M-Pesa account.

The customer will also receive a confirmation SMS.

How to Find Your Timiza Loan Limit

Many users want to know the maximum loan limit they are eligible for. Timiza app has made this extremely easy. As a customer, you need not do anything extra to determine the loan amount.

Simply login into the app and sign in with your Pin. You will find the maximum loan limit applicable to you on the dashboard.

timiza loan limit

Apply for Timiza Loan using USSD Code

Even if you don’t have a smartphone, you can quickly get a loan from timiza. In this scenario, you need to apply using this method:

  • On your phone, dial *848#
  • Enter the Pin
  • Select option “4” (Loan and Send)
  • Select the option “Request Loan.”
  • Specify Loan Amount
  • The loan amount will be disbursed to your Timiza Account.

Timiza Loan Repayment

I highly recommend you appreciate the lender by timely repayment. Here is the repayment process:

  • On your M-pesa Menu, tap on “Lipa Na M-Pesa”
  • Enter the Timiza paybill number, which is 300067
  • In the next option, enter your Phone number as the account
  • Enter the repayment amount
  • Finally, enter the M-pesa pin to complete the transaction.

ABSA Timiza Loan Interest Rates

The interest rate is 1.29% Per Loan. However, there are some other fees involved. These are:

Negotiation Fee – 5% of the loan amount

Excise Duty – 20% of the Negotiation Fee

Roll Over Fee – 5% of the outstanding loan amount

Considering all these charges, the total cost comes out to be 7.29%.

So, the total cost of the loan comes out to be 7.29% of the loan amount. If you borrow 50,000 Ksh, you need to repay 7.29% more which comes out to be Ksh 3645, and the total repayment amount becomes Ksh 53645.


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How to Increase Timiza Loan Limit

If you want to increase your Timiza loan limit, make sure you do this frequently:

  • Increase activity on your TIMIZA account by transacting on other available services, such as depositing funds into your wallet or paying your utility bills.
  • Open a Timiza savings account and enhance your money.
  • Increase M-PESA service usage

Also, if you regularly repay your loan on time, the chances of the Limit hike are increased.

Download Timiza Loan App

The app is available on the Google Play store and iOS app store. The USSD code facility is also available for people not using smartphones.

Google Play StoreDownload Now
iOS App StoreDownload Now

Note: Kindly don’t download Timiza App apk files from unknown sources. These files may contain malware or another type of viruses. Always download apps from official and trustworthy sources.

Timiza Loan Contacts

Email[email protected]
Phone Numbers+254 (20) 3900000,+254 (722) 130120,+254 (732) 130120
Whatsapp+254 710 130000

Important Links

Official PageAccess Now
Terms and ConditionsRead Now

Timiza Loan Related Commonly Asked Questions and Answers

Who can avail Timiza Loan?

An active M-Pesa customer with a Good CRB rating can apply for a timiza loan.

How to know your loan limit?

If you want to know your maximum loan eligibility, you can check it on your Timiza mobile app.

How to apply for a loan without mobile app?

You can apply using a USSD code if you have a simple phone. Dial *848# from your phone and follow the steps.

What is the paybill number for repayment?

The Timiza paybill number is 300067.

What happens if the loan is not paid within 30 days?

In such a case, a 5% rollover fee is applicable on the outstanding principal loan amount.

My loan application was rejected; what could be the reason?

There can be various reasons for the denial. These are the most common ones:
➡️You may have been inactive on M-PESA for at least 6 months.
➡️You may be negatively listed by the Credit Reference Bureau (CRB) for outstanding loans with other lenders.
➡️You may be blacklisted for Okoa Jahazi.
➡️You may have a low credit rating with the Credit Reference Bureaus (CRB)
➡️You may have an existing Timiza loan

Chido Kache
Chido Kache
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