Features of Timiza Goal Savings account that earns interest of 9 percent

Timiza is a wallet solution that offers easy banking and instant loans. The mobile-only platform also allows customers to accomplish their savings goals through the Timiza Goal Savings Account.

One of the benefits of saving through the Timiza Goal Savings Account is that customers earn the highest interest of 9 percent on the savings.

The interest rate earned per annum is paid quarterly into the customer’s account. What’s more is that no withdrawal, maintenance or statement fees is required to open the account.

All one is required to have is a National Identity card and accept the platform’s terms and conditions. The minimum opening balance is Sh100 meaning the service is affordable to Kenyans of all financial classes.

Withdrawals are limited to once per month meaning customers can only make three withdrawals per quarter.

Withdrawals from Timiza account to M-Pesa attracts charges of Ksh32, with the platform providing 1 free M-pesa withdrawal per quarter.

Did you know you can withdraw Timiza funds from an ATM?

How to access Timiza services via mobile phone

Timiza is operated entirely from mobile phone by dialing *848# or through the Timiza mobile app, which can be downloaded from the Google Play store or IOS app store.

To open a Timiza account, you need to first register on Timiza for a transactional account. All one is required to do is:

1. Download the Timiza app from the Google Play Store or Dial *848# on your phone
2. Be a registered Safaricom subscriber and M-PESA customer
3. Have an active Safaricom M-PESA account
4. Hold a Kenyan National Identification Document (ID)

Customers can also access instant loans of up to Sh150,000 repayable in 30 days. For your first-time loan application, follow the following steps.

1. Launch the app on your phone.
2. Enter your PIN to log in.
3. Your loan limit will be shown on the home screen
4. Click My loans.
5. Select Request loan.
6. Enter the amount of money you want to borrow.
7. Click continue.
8. Timiza will confirm whether or not the loan application was successful
9. Wait for a message confirming you have qualified for the loan.