Undoubtedly, everyone has ever found themselves in financial difficulties and in need of emergency funds to pay some bills.

While some people rely on family and friends for such favors, others have turned to mobile lending apps for short-term loans.

With the rising number of digital lending apps in Kenya promising instant loans, it is easy to fall into the trap of scammers hence the need to be informed of the genuine apps.

Timiza is one of the digital lending platforms giving Kenyans instant loans from the comfort of their homes. Introduced by Absa Bank, the app provides instant mobile loans for Absa and non-Absa customers.

Customers can access Timiza services via USSD *848# or through the app which can be downloaded from the Google Play store or IOS app store.

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Through Timiza, borrowers 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.

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,’’ says Absa Bank.

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.

For more information about Timiza, contact the Timiza Customer Service team via 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