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Home Loan Review Timiza Loan App: How To Register And Apply For Loan In Kenya

Timiza Loan App: How To Register And Apply For Loan In Kenya

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Timiza loan app is a product of Absa Bank. Timiza loan application offers an Absa Bank product that offers mobile loans to Kenyans. Timiza’s aim is “to provide a simple and convenient means of accessing credit for the masses.”

The Timiza loan application offers a variety of advantages like instant approvals, low interest rates, speedy repayments, ease of use through their mobile phone apps and simple repayment options.

Today, I’ll demonstrate how you can easily get mobile loans through Timiza Loan. Timiza Loan app in 2022. I will also teach you ways to install the Timiza application.

Timiza Loan App Download 2022

Here’s how to get and download the Timiza loan application:

  1. Timiza App is accessible on both Google PlayStore and the App store for IOS.
  2. Shop on the basis of your android phone, or iPhone.
  3. Find Timiza (Just using the term Timiza suffices). Be sure to verify that it’s coming from Absa Bank Kenya PLC.
  4. Install the app, download it and install it on your phone.

We’re finished using the Timiza loan app download . Now install it.

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Let’s continue to the next step.

How to Register on Timiza App

Once you’ve downloaded the app on your phone Next step is to sign up.

To get started, simply open your Timiza App on your phone and follow the steps to sign-up to use Timiza. Timiza App. It’s easy and should take less than five minutes.

As you will see, there is no requirement to go to Timiza Branch or their bank to sign up. You’ll need your mobile and the Timiza app available from Absa Bank.

How to Apply for a Timiza Loan

After registering with Timiza App, this is how you can make an application for the first time to get a loan. Before you can get a loan through the Timiza loan application you must be eligible and the following are the criteria.

What are the criteria to be eligible for Timiza Loan? Timiza Loan?

To be eligible to apply for Timiza Loans applicants must meet the following requirements:

  • You must be a M-PESA subscriber for more than six months.
  • Make use of other Safaricom services like data, voice, and M-PESA.
  • You should have a high rating on the CRB (How do I check the CRB status)

In case you satisfy the above criteria You can verify the Timiza loan limit over the phone. You can then apply for an loan.

There are two options which you could submit an application to Timiza loans:

  1. Through the Timiza Loan App
  2. via Timiza UsSD number.
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Here’s how to utilize each one of them.

How do you apply for a Loan through the app

Apply for Timiza loans via this application: Timiza App:

  1. Open Timiza App
  2. Then, on the Timiza homepage, click on My loans to view your loan limit.
  3. Tap on “Request a Loan” to make an application for Timiza loans.
  4. Enter the amount (within your limits) and then tap “Continue.”
  5. Within a couple of minutes, Timiza will notify you whether the loan was approved.
  6. They will transfer this to the Timiza Account.

In order to transfer the funds into M-Pesa You must transfer the money to Mpesa It isn’t automatically.

How do you apply for a loan using an USSD code

As previously mentioned, a different method to apply to Timiza loans is through using the Timiza USSD number. Here’s howto apply:

  1. On your mobile, Dial Timiza USSD code *848#
  2. Following the next screen, you will require your Timiza PIN. Enter it.
  3. There are a variety of optionsto choose from; pick the 4th option to send and borrow.
  4. On the following screen select “Request Loan.”
  5. After that, you must enter cash and then enter the amount that you want to borrow at the end of the step.
  6. Timiza will mail you a confirmation as well as your cash.
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This is the way to apply for a loan with Timiza.

Timiza Loan Charges and Terms

Timiza loans come with a 30 day duration and a 5 percent fee for one time facility. They will also charge five percent fee if the loan is not paid within 30 days.

Their loans can be up to 150,000 kes and are paid in one month.

It is also important to note that the majority of Timiza fees include the government’s 20% excise duty.

How to Repay Timiza Loan

Paying back the loan in time improves a credit record, and also increases the loan limit of the borrower.

Below is a detailed guide on how to pay back your Timiza loan.

  1. Go to Mpesa Menu
  2. Choose “Lipa Na Mpesa.”
  3. Select Pay Bill
  4. Enter 300067 as your PayBill code.
  5. The Key Account Number (Phone number used for create a Timiza account)
  6. Enter Amount
  7. Enter Mpesa Pin
  8. Press OK to approve the transaction

Understanding the purpose of the Timiza app is all about in this post, you are now able to make use of it for its proper use. It’s helpful to know that the money must be utilized correctly when borrowing through the app as you will need to repay it using interest.

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