Get instant Timiza loans on your phone, pay bills, transfer funds and purchase insurance with Timiza.
- Get instant Timiza loans on your phone
- Deposit funds into your Timiza Account
- Pay for KPLC/ZUKU/DSTV/GOTV bills with your loan
- Purchase insurance
- Buy airtime
How to Apply for Timiza Loans: Simply Dial *848# or download it from Google PlayStore.
Barclays TIMIZA Loans
- What are the requirements for a customer to have a Timiza Account?
- Be a registered Safaricom
- Be a registered Safaricom MPESA
- Have an active Safaricom MPESA account/line.
- Hold a Kenyan National Identification Document (ID) Kindly note that Kenyan passports are not
- What are the services that Timiza offers?
- Transfer from MPesa to Timiza
- Transfer from Timiza to M-Pesa
- Make a loan request
- Repay loan
- Balance enquiry
- Mini statement
- Bill Payments
- Airtime Purchase
- Book a Cab – Little Cab (App only)
- Invite Contacts (App only)
- Fx Rates (App only)
- Can I access Timiza through a Barclays Branch or through any electronic channel?
- Timiza is operated entirely from the mobile phone and cannot be accessed
through a Barclay’s branch. Timiza is a separate bank account and is NOT linked to your Barclays account or any other bank account.
Timiza Tariffs and Guides
- What are the interest rates applicable on the Timiza Deposit Account?
- In line with the Banking (Amendment) Act 2016, all deposits on the loan will earn interest of 7.00% p.a being 70% of CBR. The deposit account will be available
- What are the transactional charges for a deposit account?
|Cash Deposit (C2B)**|
|Via M-PESA||Mpesa Charges apply|
|Transfer to M-PESA (B2C) ;tiered|
|KES 0 – KES1000||KES 23|
|>KES 1000||KES 30|
|Transfer between loan Accounts||Free|
|Bill payment BBK Charges||KES 50 ( As per existingapproved tariff)|
|USSD Costs charged by Safaricom||KES 2|
**all fees are subject to a 10% government excise duty
- What are the transactional charges for the loan product?
|Timiza Loan Costs|
|Interest Rate||CBR + 4% (1.17%)|
|Loan processing fees||5% per successful loan application|
|Roll Over Fees||5% of the outstanding loan amount|
Timiza Loan Product
- What are the features of the Loan?
- Quick access to credit
- Loan repayment period is 30 days
- One time facility fee of 5%
- Rollover fee of 5% if the customer does not pay within the 30 day
- Loan is disbursed to the customers account (not directly to Mpesa). Customer will access the funds by withdrawing from their loan account to Mpesa
- Who is eligible for the loan?
- In order to qualify for a loan all you need is to be an M-PESA subscriber for 6 months, transact on the app and actively use other Safaricom services such as voice, data and M-PESA.
- How do I check how much I can borrow?
- Upon activating the account, you will be issued with a loan limit from where you can borrow
- Is there any interest charged on my loan?
- Loans attract an interest charge of 1.17% with a facility fee of 5% charged on the cost of processing the
- Can you request for a loan immediately you opt-in?
- Yes your loan limit will be displayed when you log in to the app
- Can you have more than one loan at a time?
- You have to repay your outstanding loan first before you can borrow another loan.
- Can you pay a loan on behalf of another person?
- You can send money to their loan account and they can pay the
- If you have not paid your loan within 30 days, what will happen?
- Your loan repayment period will be extended for an additional 30 days and you will be charged an additional 5% facilitation fee on your outstanding loan
- What happens if you pay in excess of the loan amount?
- The outstanding loan balance will be paid off and the extra amount will be moved to your Timiza
- If you pay your loan before the due date, will you still be charged the loan facilitation fee of 5% on the loan amount?
- Yes, the 5% is a facilitation fee charged on the cost of processing the loan. Early repayment will increase your future loan limit
- I cannot access my loan. What are some of the reasons for this?
- You have been listed with the Credit Reference
- You already have an existing account
- You have a low credit
- How do I grow my loan limit?
- Increase activity on your Barclays Loan Account by moving money in and out of your
- Increase savings on your Barclays Loan
- Increase usage of MPESA
- What insurance products are available on your loan account
- We offer Personal Accident(100K) and Funeral Cover
- What are the features of the insurance products
- The insurance products offered cover death and permanent total disability
- What are the charges?
- Your policy will be covered at Kes 42 per month
- How do I apply?
- Log in to to loan account by dialling *848#
- Pick the insurance option
- Accept the terms and Conditions
- Subscribe to the insurance option
- How do I make premium payments?
- The premium payments will be deducted from the deposit in your Timiza It is important to ensure that there are funds in the account to cater for the premium.
- Can I make the premium payment from a my loan account? YES, If Premium amount is deposited in the virtual account
- What are the charges?
- There are no additional charges to the insurance payment other than the Premium payment