We are going to share with you how you can easily download and get a loan from Timiza loan App. This article about Timiza gives the unique features that you need to know concerning the Timiza app.
There have been many modifications in technology in the recent years; this is majorly characterized by the extended use of smartphones within the country and even globally.
Today, consumers can access various banking services anytime and at any place in Kenya through mobile phones. With this in thought, Barclays Bank came up with the trending Timiza App as its fundamental step to implement its functional banking strategy.
Timiza app, which as a Swahili term that implies “to accomplish,” has features that are very distinct from other mobile banking mobile apps seen before in the country.
Getting Started with Timiza App
With the Timiza loan app, it is not a must that one opens a physical account in the bank. The app presents a virtual account with which one can manage all the transactions they need. One can transfer funds or receive loans into the virtual mobile account and make withdrawals through Mpesa.
Nevertheless, there is an opportunity where one can link the mobile application with their original bank account if they already have an active account with Barclays bank.
This loan app also allows users to transfer money from one Timiza account to another at favorable charges.
Timiza Loan App Services / Features
Timiza app grants lots of services, with the App downloaded and installed on your phone, you can easily do the following;
1. Payment of utility bills
Timiza application enables one to pay for the electricity bill, water bill, and other utility charges directly from the virtual account. If there is no cash in the virtual account, one can make the cash payments directly from their bank accounts. Arrangements are underway to introduce the Timiza Virtual card, which will enable customers to pay for online services utilizing the app.
Additionally, using the Timiza app enables customers to pay for insurance coverage. Their Customers can get personal accident covers and funeral protection of up to 100,000 and 40,000 sequentially from through the timiza app.
2. No collateral needed when borrowing a loan
When asking for a loan on the application, no guarantee is needed as creditworthiness is determined using Mpesa transaction records. To get the credits on your phone, all one needs is to download and install the app, fill in their required details, and apply.
3. Loan limits of up to Ksh150,000
Depending on the timiza app credit rating, one can access easy loans of up to ksh150,000. These credits are to be repaid within thirty days with a processing charge of 5% and a monthly fee of only 1.7%
4. The app allows saving
The customer can make savings on the mobile app. By moving money to the section “wallet” on the mobile app, one can save any amount of money they want for any period they prefer.
5. Access to Taxi Hailing services
Timiza Customers can access taxi hailing services as a consequence of the partnership between Barclays Bank and Safaricom’s Little cab services. With the Timiza loan app, customers can order for transportation from Little cab and make payments for the journey using the timiza app.
6. The app is only limited to Android and Safaricom users
At the moment, the only available version of Timiza loan application is for Android devices. Nevertheless, plans are underway to develop and release an iOS compatible version for Apple users. Another limitation on the app is that only Safaricom registered users can access the loans through Mpesa.
Also Take a look at other loan apps in Kenya that we reviewed
Timiza app download process and registration
To qualify for a Timiza loan in Kenya, one needs to have an active Mpesa Safaricom line which has been used for over six months.
The loan limit for Timiza will be determined by the Mpesa transactions history as well as the CRB standing of the applicant. Find below a detailed step by step procedure of applying for the timiza loan.
Register for the timiza service – To register, one needs to dial ussd *848# on their Safaricom sim card or download the app from the google play store.
Create a timiza account – After downloading and installing the app, you need to present personal details including your Mpesa number with which they will be making the transactions.
Apply for the timiza loan – After creating an account, your loan limit will be displayed on the mobile app. one can only borrow as much money as their loan limit. The quick loan is then credited to the Timiza account following which the user can transfer to their Safaricom Mpesa account.
How to repay Timiza Loan
Repaying the loan in time contributes to a positive borrowing record and therefore improves the user’s loan limit. Below is a step by step guide on how to repay the Timiza Loan.
- Go to the Mpesa Menu
- Choose “Lipa na Mpesa.”
- Select Pay Bill
- Enter pay bill 300067 as the PayBill number
- Key in Account Number (the Phone Number used to open Timiza account)
- Enter Amount
- Enter your Mpesa Pin
- Press Okay to authorize the transaction
Now Having known what the Timiza app is all about from this article, you can now use the app for its legitimate purpose. It would help if you took note that when borrowing from the loan app, the money should be used for the appropriate purpose since the cash has to be repaid with interest. Those who are listed as defaulters by the CRB dreaded list cannot access the loan.
Here are Full Barclays Bank of Kenya contacts to make usage of in case you have any questions concerning a Barclays Timiza Loan app or any other services rendered by the bank.
Barclays Bank of Kenya Limited
Barclays bank Westend Building, Off Waiyaki Way
P.O.Box 30120-00100 Nairobi,Kenya
Telephone number 1: +254 (20) 425 4000
Official Email address: firstname.lastname@example.org
Barclays Life Assurance Kenya Limited, located Third Floor, Acacia Building, Westlands Office Park, Off Waiyaki Way, Westlands Nairobi, Kenya
Telephone number 2: +254 (20) 420 9000
The bank additionally has a 24-hour call centre that can be reached through:
Telephone numbers: +254 (722) 390 0000, or +254 (722) 130 120
Social media contacts
Facebook page: @BarclaysBank Kenya (Barclays Bank of Kenya)
Twitter handle: @ Barclays_Kenya(Barclays Bank Kenya)