Barclays Bank launched its innovative mobile loans application called Timiza App. It is designed to let you obtain loans easily from your phone and get other services such as airtime top up, paying bills, Forex, buying insurance, and Little Cab payments through Android tablets and smartphones. Other than the specified services, you additionally get to develop a saving culture as you continue using the app. So how do you download the app in your device? How do you use it to get faster loan approvals?
Craft Silicon is behind the designing of Timiza Android app as well as the iOS counterpart. It was launched in March last year, and it lets you get low-cost loans instantly with a tap on the phone screen. Here is how you can go about using the app.
The services you get when you activate Timiza
Timiza app brings convenience in the palm of your hands. Here are some of the services you will get.
- Cash transfer from Timiza to Mpesa and vice versa
- Instant loan requests right from your phone
- Easy loan repayment methods
- Balance enquiries and mini statement
- Pay for bills such as KPLC, GOTV, DSTV, ZUKU, and Nairobi Water
- Buy airtime
- Book a ride with Little Cab
- Contact invitation
- Checking the fluctuations of the forex exchange rates
- Application for insurance cover for permanent total disability and death.
Timiza Android app
This app is available on Google Playstore whether you are a customer of the bank or not. The convenient self-service channel allows you to open an account easily, transact, and borrow on the go straight from your device. It is 15 MB in size and requires you to have an Android version 4.0.3 and over. Notably, this app has earned a four-star rating from over 10,000 users.
From the positive user reviews, you can tell how effective and efficient the financial application is. Still, there are several complaints and drawbacks regarding the same, but most of these can be addressed through the regular updates that help get rid of bugs.
So if you are an Android mobile user and need a financial app, you can get the latest version of Timiza app.
To download the app, all you need to do is go to Play Store using your device, search for the Timiza app and click install. Play store will prompt you to accept app permissions. Accept and wait for the download to complete. The installation is automatic.
Timiza app on iPhone
iOS users can also install Timiza app on their devices and enjoy similar services as their Android counterparts. You can also get it from the App Store whether or not you are Barclay’s account holder or customer. It also has an ATM and Barclays Branch locator, and you can pay all utility bills.
The Barclays Timiza iOS application is 51.1 MB in size and is free to download. To use the mobile app on your iPhone, your device must be iOS 10.0 and over and it should also be compatible with iPad, iPhone, and iPod touch. iOs users have given the app a rating of 3.8 stars.
If you are in this category of smartphone users, you can always download for iPhone from the App Store. The download procedure is similar to Android. The only difference is that you’ll be using App Store.
The latest version of the application comes with several under the hood bug fixes, polishing, ease of use, and significant improvement in terms of speed.
Timiza loan requirements
Many people rely on this app whenever they need to access credit from the convenience of their mobile phones. But what do you need to get your loan approved?
First, you must be an Mpesa subscriber or user for over six months. You must also have a Safaricom line which is active. Finally, you must be a Kenyan with a national identity card. Notably, you do not qualify if you have a Kenyan passport.
Getting started with Timiza app Barclays Bank
Here is how Timiza app works. First, you need to be at least 18 years and own a smartphone or tablet. Timiza app registration process involves downloading the app from App Store or Google Play store, you will then proceed to fill all the necessary details after which your account will be activated. Once your account is active, you can inquire about the loan limit, and you will be notified of the amount you can borrow. After knowing the limit, you can go ahead and request for the loan.
You can also Use the new MH Whizz loan app, learn more here.
If you do not receive the notification immediately, you can start saving with the virtual account, which also increases your credit score.
Once the request pushes through, the amount will be disbursed to your Timiza account. You can then transfer your cash to Mpesa. Notably, the service comes with a facility fee of 5% that you will pay once. Also, you will be penalized if you fail to pay the loan within 30 days.
How to borrow from TImiza Application
The maximum amount you can borrow as a loan is Ksh. 150,000. Here are is a step by step guide on how you can get a loan using this app.
- Begin with logging into the app
- The specific loan limit will be displayed
- Tap on ‘My Loans’
- Tap on ‘Request Loan’
- Key in the specific amount you would wish to borrow. The requested amount should be within the loan limit
- Select ‘Continue’
Once you are done, you will have to wait for a notification on whether or not the request has been approved. If it pushes through, the cash will be deposited in your account after which you will have to transfer it to your Mpesa for easy withdrawal.
How to grow your loan limit
Indeed, it will reach a time when you will need to get a higher loan amount than the one you have currently. There are different things that you can do to ensure the loan limit increases. First, you can move any extra cash available in your Mpesa to the Timiza account. This is important as it indicates to your lender that your account is active, prompting them to reward you with a raise.
Also, you can deposit cash immediately after completing Timiza app download, installation, and registration. This is a key indicator of your commitment, and any lender would not mind offering you the raise you deserve. Finally, the loan amount that you can get is highly dependent on the history of your Mpesa transactions. So it would make sense to increase your Mpesa usage if you want to increase your limit.
How to repay the loan
Repaying the loan is easy, and you can complete it in the simple steps below.
- First, you have to log in
- Go to ‘My Loans’
- Click on ‘Repay Loan’ then choose whether you will make partial payments or clear the amount in full
- Select the account from which the amount will be deducted (Whether Mpesa or Timiza accounts)
- Key in your transaction PIN
- Select continue
One of the key complains by customers on Google Play Store about the app is that the pop up fails when they choose Mpesa to make the payments for the loan. If you experience this, then do not panic as there are convenient and familiar method to solve the issue. Besides visiting your nearest Barclays bank outlet, you can repay the amount using the paybill number 300067. Here are the steps:
- Open Mpesa
- Select Lipana M-pesa
- Select Pay Bill
- Key in the business number 300067
- Enter your phone number in the Account Number section
- Enter the amount you intend to pay
- Key in your M-pesa PIN and submit
- Wait for a notification indicating whether or not the payment was successful
Notably, any excess amount paid that is beyond the loan amount will be credited to Timiza.
Areas in the app that need work
There are several challenges faced by users of the app that Barclays Bank should work on. Here are some general complains submitted on both the App Store and Google Play Store:
- Registration issues – According to most users, they experience difficulties whenever they try using the PIN issued after registration. Sometimes the number fails to work.
- Does not run on rooted devices – Those with devices that are not rooted usually receive a warning message that the app will not work. Hopefully the bug can be fixed in the future versions of the app.
- Transfer to Mpesa – Some users report that they face hurdles whenever they try to transfer the funds to Mpesa.
- Payment period – Borrowers have to complete the repayment within 30 days, and a section of them feel that the duration should be increased.
- Waste of time – Barclays should add convenience to the app by depositing the loan directly to Mpesa once the application has been successful. Other service providers such as Branch use this method.
You can always reach Timiza app customer care via the following methods:
Phones: 020 4265000 | 0709 213 000
Timiza app may serve as your complete small-scale financial package that comes with a couple of uses and benefits. Not only do you get instant cash, you also learn how to save and improve your credit score with other lenders. In case you have any questions, you can contact the customer care for apt guidance.