Timiza loan app from Barclays bank is a game-changing mobile app that allows Kenyans to save or borrow money.
Just when we thought mobile loan apps have come to a halt, bigger companies and Banks are continuing to launch improved versions of mobile loan apps.
One of the latest apps to take the Kenyan fintech industry a storm is the Timiza app from Barclays bank.
What is Timiza loan app
Timiza is a mobile lending app developed by Barclay Bank Kenya. Unlike other mobile loan apps, Timiza allows people to save money or borrow money.
It is as if Barclays was watching the industry and taking account of what other loan apps are offering.
After spying on them, they designed an app that is far more versatile than what the industry had seen.
Timiza loan app is not the regular mobile app that we have been using. It is an improved version with more functionality that helps its users to manage their finances all through their phone.
It only gets better because you do not have to be a Barclays bank customer to use Timiza mobile app.
About Timiza loan App
Without further delay, let’s explore this revolutionary app from Barclays to find out how it can benefit you as a Kenyan and why it is better than other mobile loan apps.
Timiza mobile app is an application that combines two very important aspects of finance namely; saving and borrowing.
Benefits of Timiza loan app
- Timiza loan app allows Kenyans to apply for loans from Barclays bank even if they do not have an account with the bank.
- First off, you can borrow more than 100000/= using Timiza while other apps give you a maximum loan limit of 50000/=.
- The loans are disbursed through M-Pesa which is by far the most effective way of sending and receiving money.
- The application also allows Kenyans to Save money with Barclays bank all from their phone.
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According to Barclays, this app was built so as to encourage a saving culture among Kenyans as much as it also allows for borrowing.
If you have an M-Pesa account, you can get all the banking services from Barclays that are facilitated by Timiza.
Timiza in Swahili means ‘to fulfill’ or ‘to achieve’. As such, the application allows Kenyans to fulfill their desires and achieve their goals by saving and getting loans efficiently via their phones.
What can I do with Timiza loan app?
There is a lot that Timiza loan app allows Kenyans to do but these are the most significant services offered by the App from Barclays bank.
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- Make a loan request
- Transfer money from M-Pesa to Timiza
- Balance inquiry
- Get a mini statement
- Pay Bills
- Pay Insurance
- Save money
- Transfer money from Timiza to M-Pesa
- Book taxi services from Little Cab
- Repay loan
- Check Fx Rates
- Invite Contacts to use Timiza
- Purchase Airtime
How to Access Timiza via USSD
Life has been made even easier for people who do not own smartphones.
By now, there are only two apps that I know which offer mobile loans through USSD. One of them is Timiza loan app and the other one is Zenka loan app
If you do not have an internet connection, you can also access the services offered by Timiza loan app through USSD code *848#.
This code can also be used by people who do not have smartphones to access the services offered by Timiza mobile loan app.
It is obvious that most Kenyans who will download the Timiza mobile loan app will do so for the purpose of accessing mobile loans.
For that reason, it is important to take into account all the requirements needed in order to qualify for a mobile loan.
It is also important to note that the application is open to all Kenyans including non-Barclays customers.
What do I need to get loans from Timiza loan app
- You should have a registered M-Pesa account that is more than 6 months old.
- Your loan limit is determined by your previous M-Pesa transactions.
- The application checks for trends in your transaction history to determine your loan limit.
- You should have a valid Kenyan ID. The app does not recognize passports
How to Download Timiza loan app
Downloading Timiza loan app is not rocket science since the app is available on Google Play Store. Follow the steps below to download, install and apply for loans from Timiza app.
- Go to google play store
- Search for Timiza app
- Download the application
- Install it on your phone and open it
- The app will require you to register for an account or to sign up
- Ensure you have a valid National ID number and a Safaricom number that is registered
- Your Safaricom line should be more than six months old
- Timiza loan app will send you the Pin on your mobile number
- Use the pin to activate your account
- Upon activation, check you if you qualify for a loan
- If you qualify for a loan, borrow within your loan limit
NOTE: If you do not have a smartphone, you can access all the services by dialing *848# and follow the prompts.
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How to Qualify for Huge loans from Timiza
Sometimes, the loans given by mobile loan apps are less significant and they cannot be reliable for emergencies that require huge financing.
That said, it is important to grow your credit score with your loan app in order to qualify for bigger loans.
The following are some tips that will help you grow your loan limit with Timiza loan app from Barclay bank.
- Increase your activity within the app by moving money to and from M-Pesa and Timiza loan app. The more active your account is, it sends a good signal to the app and this might just qualify you for a raise.
- Send a huge amount of money from your M-Pesa to Timiza. Like I mentioned earlier in the post, the app scans for your M-Pesa transactions to determine your credit score. Sending a huge sum of money to the App shows you can afford a lot of money hence the app will increase your loan limit.
- If you are a new user, make sure you deposit some money in the app. Let the money stay there and just like magic, the app will increase your loan limit fast.
Feel free to like and share this article with your friends. You can also share your experience with Kenyans Online if you have ever used Timiza loan app.
Here is a short video guide of Timiza app