This is a guide on how to apply and repay Timiza mobile app loan using Mpesa in Kenya . Timiza is a mobile loan application which was launched back in March by Barclays bank.With Timiza mobile app, one can borrow up to Ksh 150,000 and repay it within 30 days. The app is available to everybody, whether you are a Barclays customer or not.
How to register and Apply for Timiza Loan
Download Timiza app from Google Play Store and fill in the required information. The app will be using your Mpesa transactions history to set your loan limit, so it is advisable to be patient if you don’t get approved immediately for a loan after downloading the app. Download the app HERE
The app can also be accessed by dialing *848#.
Timiza Loan interests and Charges
They have a monthly interest rate of 1.7% and a 5 % loan processing fee. Timiza will charge you a 5 % roll over fees of your outstanding loan . Your details will be forwarded to CRB if you fail to repay your loan.
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.