Timiza loan app review – This app an Absa Bank product that give mobile loans to people of Kenyans, the aim of this timiza’s loan app is to make available a simple and convenient way of accessing credit for the masses.
The Timiza loan app gives several benefits such as immediate approvals, low-interest rate, quick repayment, convenience through their mobile phone apps, and simple repayment methods.
In the Timiza loan app review, I will be sharing with you how to easily access mobile loans from Timiza loan app in 2022. I will also show you how you can download the Timiza app to kick off.
Timiza Loan App Download 2022
Below are the easily ways to download and install the Timiza loan app:
- You can get the Timiza app on both Google playstore and ios app store
2. Go to the store based on your phone, android or iphone.
3. Search the word Timiza and be sure it is from Absa Bank kenya PLC.
4. click on Download and install it in your phone.
When you have done the above you are good to go as Timiza loan app will be ready for use.
How to Register on Timiza App
As you have downloaded the app to your phone, the next stage is to register.
To make this happen, launch your Timiza app in your phone and follow the instructions to register for the Timiza app. This process is simple and will take short time to finish.
I believe the above can prove to you that you may not need to go to their bank to get registered. What you need is just mobile phone and the Timiza App from Absa bank.
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How to apply for a Timiza Loan
When you have completed your registration on Timiza App, this is how you can apply for your first loan. Before you can get any loan from Timiza loan app, you must qualify, and below are the requirement
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:
1.Through the Timiza Loan App
2. Via Timiza USSD code.
Below shows how you can 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
2. On the Timiza homepage, select ‘My loans’ to see your loan limits.
3. Now tap on “Request a Loan” to request Timiza Loans.
4. Enter the desired amount for which you want (within your limit) and tap “Continue.”
5. After a few seconds, Timiza will notify you if the loan has been approved.
6. They will send it to your Timiza Account.
If you want 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
There is another way of applying for Timiza loans is via the Timiza USSD code. below is how:
- On your phone, Dial Timiza USSD code *848#
2. The next prompt will ask for your Timiza PIN; enter it.
3. There will be several options; select option 4: loan and send.
4. In the next screen, choose “Request Loan.”
5. Next, enter cash, enter the amount you wish to borrow in the final step.
6. Timiza will send you a confirmation and your money.
That is how you apply for a loan from Timiza.
Timiza Loan Charges and Terms
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.
Also, it is worth noting that all Timiza fees have included 20% Government excise duty.
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How to Repay Timiza Loan
Repaying the loan and time contributes to a good borrowing record and increases the user’s loan limit.
Here is a simple step on how to repay the Timiza Loan.
- Go to Mpesa Menu
- 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
- Click Okay to authorize the transaction
I believe this article on Timiza app was of great help to you , make sure you use the loan for it purpose. You should judiciously use the loan since you are going to repay the loan back.