This is a simple guide on how to pay your Timiza loan via Mpesa. This is an Absa Bank owned quick loan application that was launched in 2018. The application is available for download both in the Google Play Store and Apple’s App Store. You can also access Timiza by dialling *848# on your phone. One good thing about Timiza is the fact that they give loans to everyone; whether you are a Barclays customer or not.
In order to qualify for a loan from Timiza, you need to be an active MPesa subscriber for more than 6 months, actively use other Safaricom services such as voice and data. You should also not be negatively listed on CRB/blacklisted by Safaricom on Okoa Jahazi.
Timiza offers loans from as low as Ksh 50 to Ksh 1,000,000. However, upon activating the account, you will be able to view your loan limit on the Login screen. Timiza loans attract an interest charge of 1.083% with a facilitation fee of 5% charged on the cost of processing the loan. The loan repayment period is 30 days.
How To Pay Timiza Loan Via 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.
If you fail to pay the loan within 30 days, your 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. If you default your loan, you risk being listed on CRB. It will take a minimum of one month before you are considered for a loan after clearing your CRB records.
Timiza Loan Contacts
Phone: 0709 213000/020 4265000
Whatsapp: 0712 233248