Running low on cash can be stressful, given the many responsibilities that await us in our day-to-day lives.

Whether you are looking for money to fund your business, pay bills, or sort your family’s needs, lacking it can lead to financial stress.

While many people rely on financial aid from family and friends whenever they run low on cash, others opt for loans from financial institutions which is the best option given the flexibility.

The Timiza loan is one facility that has undoubtedly turned people’s lives around when it comes to finances.

Introduced by Absa Kenya, Timiza is a digital bank offered as a mobile-only platform (or wallet) that focuses on providing inclusive banking to everyone.

Accessible via USSD (*848#) and mobile app on Google Play Store &App Store, Timiza provides instant mobile loans for Absa and non-Absa customers allowing them to ‘Timiza’(fulfill) their financial needs.

”Timiza is operated entirely from your mobile phone by dialing *848# or through the Timiza mobile app, which you can download from the Google Play store or IOS app store,’’ states Absa Bank.

The beauty of the product is that borrowers get higher loan limits and enjoy the most affordable facility fee of 5% compared to the market price and interest fee of 2.96% per month.

”Timiza loan attracts an interest charge of 2.47% per month with a negotiation fee of 5% charged on the cost of processing the loan. A 20% excise duty on the negotiation fee applies, this is deducted upfront from your requested loan amount upon disbursement into your Timiza wallet,’’ the lender adds.

Customers can access upto Sh150,000 repayable in 30 days.  The more one transacts the more they grow and improve their Timiza credit limit. In addition, one gets discounts and loan limit growth on early repayment.

To qualify for a loan, one must be an M-PESA subscriber for more than 6 months and actively use Safaricom services such as voice, data and M-PESA.

In addition, they need to have a good rating and not be negatively listed by the Credit Reference Bureaus (CRB) or blacklisted by Safaricom on Okoa Jahazi.

Besides loan provisions, Timiza also allows customers to accomplish their saving goals with Timiza Goal Savings Account that earns the highest interest of 9% interest p.a.

Customers can save as little as Sh100 and still earn interest. They can save daily, weekly, monthly, or in a lump sum, and once they complete their goal, the money automatically reflects in their account within 24 hours.

With the Timiza app, customers can also make Payments via M-Pesa Paybill and Till payments (buy goods) as well as make utility payments such as DStv, KPLC, Zuku, GOtv Bills.

For more information about Timiza, contact the Timiza Customer Service team at 0709213000 or 0204265000 or via Email at [email protected].

You can also reach and follow them on their social media pages:
Facebook: Timiza Kenya
Twitter: @TimizaKE