Timiza is a mobile banking solution started by Absa Bank Kenya in 2018, to help simplify the process of managing finances by Kenyans who are always on the move.
The all-in-one app offers a suite of features designed to help you control your money, such as savings, earning loans, paying utilities and buying insurance.
Savings
The convenience of managing your savings directly on your phone makes it easier to set aside money regularly.
Timiza has a goal savings account that offers high interest rates and helps set and track financial goals. Be it saving for vacations, a new gadget or an apartment, this app makes it easy to achieve these aspirations.
It also goes beyond just savings. Timiza allows for the easy sending and reception of money which is ideal for everyday financial needs.
The app allows you to make bill payments for utilities, TV subscriptions, and other services. This eliminates the need to visit multiple platforms or wait in queues, saving you valuable time and effort.
FAQs
1. Who is eligible to open a savings account on Timiza?
All existing customers will have a menu option availed to them to open a Timiza savings account on both USSD and Mobile app (Android & IOS) platforms. Customers not registered on Timiza will need to first register on Timiza before they can proceed and open a Timiza savings account.
2. How do I fund my savings account on Timiza?
You can fund your savings account directly from your M-PESA wallet using the STK (Sim tool kit) push functionality. You can also transfer funds from your Timiza account to your Timiza savings account at no cost.
3. How does Timiza’s savings account work?
Customers will earn cash interest based on the balances on their accounts. The minimum balance to earn interest on the Timiza savings account is Sh. Â 100. The interest rates quoted on Timiza are annual, per annum.
Loans
Timiza’s developers understood the growing trend of unexpected expenses, which is why they made it easy to access instant mobile loans for short-term financial emergencies.
Timiza stands out with its competitive interest rates, making it a more attractive option than many other lenders. It is arguably the best option for anyone requiring instant cash injection for business or personal reasons.
Anyone who fits into their eligibility criteria can access mobile loans of up to Sh. 150,000 without the need to have an Absa Bank account. This makes it one of the few loan apps offered by regulated commercial banks to non-account holders.
How to access, apply, repay mobile loans and save with Timiza
Why Timiza loans are the best
1. Low Cost Short-term Loan
Compared to mainstream digital loan options like M-Shwari, KCB M-Pesa, and M-Coop Cash, Timiza is slightly more affordable. It also beats other digital loan apps like Tala, Zenka, and Branch Microfinance, which are known for their exorbitant rates.
2. High Loan Amounts
Among all the digital loans reviewed by the Bizna Team, Timiza stands out for offering high loan amounts of up to Sh. 150,000.
Such generous loans are usually available only to individuals with traditional bank accounts, but Timiza breaks this mold.
Furthermore, the average maximum loan limit most digital apps are willing to finance is around between Sh. 30,000 and Sh. 50,000.
3. Tested, Approved and Trusted
As many are aware, the digital loans market has for long been plagued with accusations of predatory lending, unethical collection practices and high interest rates.
Borrowers will find comfort in knowing that the Timiza Digital Loan is a product of a licenced and regulated commercial bank. Customers wary of debt shaming practices and data misuse by a rogue selection of lenders can find peace with this app.
4. Quick loan disbursement
The Timiza App offers nearly instant disbursement of the loan amount provided one meets the eligibility requirements.
Click the link below to download Timiza App: