How to download, apply and repay Barclays Timiza mobile app loan

Timiza loan app is a loan service from Barclays bank that gives an opportunity to M-pesa subscriber to qualify for aaloan.  In order to qualify for a loan, one needs to be an M-PESA subscriber for more than 6 months,  actively use other Safaricom services such as voice, data and M-PESA.

One also needs not to have a good rating at the CRB, be negatively listed on CRB/blacklisted by Safaricom on Okoa Jahazi.

Timiza mobile App Loan Download

To download timiza mobile app loan click here

Features of the Timiza Loan

  1. Quick access to credit
  2. Loan term is 30 days.
  3. One time facility fee of 5%
  4.  Rollover fee of 5% is applied on any outstanding loan mount which has not been paid within
    the 30 day period.
  5. Loan is disbursed to the customer’s Timiza account (not directly to Mpesa). Customer will access the funds by withdrawing from Timiza to M-PESA
  6. Timiza loans attract an interest charge of 1.083% with a facility fee of 5% charged on the cost of processing the loan.

Services offered at Timiza mobile loan app

  • Transfer from M-Pesa to Timiza
  • Transfer from Timiza to M-Pesa
  • Make a loan request
  • Repay loan
  • Save funds on Zidisha savings wallet
  • Timiza balance enquiry
  • Timiza mini statement
  • Bill Payments – DTSV, KPLC, Nairobi Water, GO-TV, ZUKU,
  • Insurance
  • Airtime Purchase
  • Book a Cab – Little Cab (App only)
  • Invite Contacts (App only)

Timiza Loan Charges

Loan costs
Interest Rate CBR + 4% (1.083%)
Loan processing fees 5% of the Loan amount requested
Roll Over Fees 5% of the outstanding loan amount

 

Timiza Tariff and Guides

Return applicable on funds on the Zidisha savings account on Timiza
The account pays a Zidisha base reward of up to 1% and a bonus of up to 4% for customers who have no more than 3 withdrawals per quarter (Timiza account transfer & M-PESA withdrawals).
Transactional charges for on the Timiza account

Transaction Fees

Deposit to Timiza (C2B)

Via M-PESA Mpesa Charges apply

Funds Withdrawal

Transfer to M-PESA (B2C Withdrawals from Timiza ); tiered

KES 0 – KES1000 KES 24.60
Amounts above KES 1000 KES 31.60
Transfer between Timiza Accounts Free

Other Services

Utility Bill payment Charges KES 60
USSD Costs charged by Safaricom KES 1

Note that all fees inclusive of 20% Government excise duty

How to Repay Timiza Mobile App Loan Using Mpesa

1. Go to your Mpesa Menu

2. Select Lipa na Mpesa

3. Select Paybill

4. Enter 300067 as the business number

5. Enter your phone number as the Account Number ( the mobile number you registered with Timiza)

6. Enter the amount you want to repay

7. Enter your Mpesa pin and press OK

8. You will receive a transaction confirmation message from Mpesa

Timiza Loan repayment period

Loan repayment period will be extended for an additional 30 days and you will be charged an additional 5% Roll-Over fee on your outstanding loan balance.

How to Grow Timiza Loan limit

  1. Increase activity on your TIMIZA Account by transacting on other services offered on Timiza e.g. Deposit cash, Purchase airtime, Pay your utility bills, Subscribe to Insurance.
  2. Open and Increase savings on your Zidisha savings account on Timiza
  3. Increase usage of M-PESA services.

Forgotten Timiza pin

If you’ve forgotten Timiza pin you can use the ‘Forgot Pin’ option to reset your Pin. You will be prompted to answer your secret
question you set up when you registered on Timiza.

Blocked Timiza pin

Kindly call 0709213000/0204265000 for assistance.

Timiza Insurance

Insurance products available on TIMIZA

  • Timiza offer Personal Accident- Ksh 100,000 and Funeral Cover of Ksh 50,000

Features of the insurance products

  •  The insurance products offered cover death and permanent total disabilityWhat is the Premium for this Insurance cover?
  •  Your policy will be covered at Kes 42 per month

How to apply

  • Log in to to Timiza by dialling *848#
  • Pick the insurance option
  • Accept the terms and Conditions
  •  Subscribe to the insurance option

How to make premium payments

The premium payments will be deducted from the deposit in your Timiza account. It is
important to ensure that there are funds in the account every end of the month to cater
for the insurance premium.

Can one make the premium payment from a Timiza loan?

YES, If premium amount is deposited in the virtual account every month

Are there any additional charges
No, there are no additional charges to the insurance payment other than the Premium
payment