Recognizing the importance of providing convenient and quick financial solutions, Absa Bank Kenya has introduced the Timiza App. This innovative mobile application is designed to offer instant loans to individuals in Kenya, revolutionizing how people access credit.
What is Timiza App?
Timiza App is a mobile application developed by Absa Bank Kenya that provides instant loans and a range of financial services. It offers a user-friendly interface and allows individuals to access credit conveniently through their smartphones.
Requirements for Getting Timiza Loan
To be eligible for a Timiza loan, individuals must meet certain requirements. These typically include being a Kenyan citizen, being of legal age, having a registered Safaricom line, and having an active M-Pesa account. Unlike traditional loan applications, Timiza App does not require collateral or a credit history check, making it accessible to a wider range of individuals.
How to Get Timiza App by Absa Bank
To get the Timiza App and access its features, follow the simple steps outlined below:
1. Dial *848# or Download the Timiza App
You can initiate the process by dialing *848# on your mobile phone. This will prompt you to follow the instructions provided to download the App.
Alternatively, you can directly download the Timiza App from the Google PlayStore for Android devices or the iOS App Store for Apple devices.
2. Register for a Timiza Account
Once you have downloaded the app, register for a Timiza account. Follow the on-screen prompts and provide the required information, such as your details, Safaricom mobile number, and other necessary information.
3. Open a Transactional Account
After completing the registration process, you will be prompted to open a transactional account with Timiza. This account will serve as the main account for your financial transactions and access to the app’s features.
4. Explore the Features and Services
Once you have successfully registered and opened a Timiza account, you can start exploring the various features and services offered by the app. These include instant loans, sending money, bill payments, purchasing airtime, accessing insurance options, and even saving with the Timiza Savings Account.
Remember, using the Timiza App requires an active M-Pesa account, as it is closely integrated with the M-Pesa platform for seamless transactions and fund transfers.
- Read Also: Top 10 Best Mobile Loan Apps in Kenya
Benefits of Timiza App by Absa Bank Kenya
The Timiza App offered by Absa Bank Kenya brings numerous benefits to its users, regardless of whether they are Absa Bank customers. Below are the key advantages of using the App:
1. Access to instant mobile loans for Absa and non-Absa customers
The Timiza App allows individuals to access instant loans through mobile devices. Whether they are existing Absa Bank customers or not, users can easily apply for and receive loans within minutes without needing collateral or a credit history check.
2. Most affordable facility fee of 5% compared to the market
Timiza stands out by offering one of the most affordable facility fees in the market. With a facility fee of only 5%, borrowers can benefit from cost-effective loans, reducing the financial burden associated with borrowing.
3. Higher loan limits
Timiza App offers higher loan limits compared to other loan providers in the market. This means that individuals can access larger loan amounts, enabling them to meet more significant financial needs or fund business ventures.
4. Saving capability with Timiza Goal Savings Account
The Timiza App allows users to open a Timiza Goal Savings Account. This account offers a competitive interest rate of 9% per annum, paid monthly into the user’s Timiza wallet or account. It allows individuals to save and grow their money, providing a means to achieve their financial goals.
5. Ability to make utility payments and purchase goods and services
The Timiza App allows users to conveniently pay utilities such as water and electricity bills, school fees, insurance premiums, and other goods and services. This feature eliminates the need to visit physical locations or stand in long queues, making bill payments quick and hassle-free.
6. Ability to deposit funds into Timiza through M-Pesa or other wallets
Additionally, users can easily deposit funds into their Timiza wallet from their M-Pesa account or other wallets. This feature adds a layer of flexibility and convenience, allowing individuals to manage their funds within the app efficiently.
7. Buy airtime
Furthermore, the App enables users to conveniently purchase airtime for themselves or others directly through the app. This seamless feature ensures that individuals can stay connected and communicate without the hassle of visiting a physical store or using separate platforms. By integrating airtime purchases within the app, Timiza enhances user convenience and streamlines communication needs.
8. Insurance coverage
Timiza App offers insurance options, including personal accident insurance and last expense insurance. Users can opt for these insurance plans to safeguard themselves and their loved ones, providing peace of mind in case of unforeseen events.
9. Incentives for early repayment, good transacting behavior, and loyalty
Moreover, Timiza rewards users who display good repayment behavior, transact frequently, and demonstrate loyalty. Doing so encourages responsible financial behavior and fosters long-term customer relationships. These incentives may include discounts, special offers, or increased loan limits.
Timiza Barclays Bank Contacts
For any inquiries or support related to the Timiza App, individuals can contact Absa Bank Kenya through the following channels:
- Customer Support: Users can contact the dedicated customer support team by phone, email, or within the Timiza App.
- Website: The official Absa Bank Kenya website provides additional information and contact details for customer support.
Feel free to contact Absa Bank Kenya via these contact details for any assistance or queries regarding the Timiza.
- Landline: +254 (20) 3900000
- Mobile: +254 (722) 130120, +254 (732) 130120
- WhatsApp: +254 710 130000
- Email Address: firstname.lastname@example.org
In conclusion, the Timiza App by Absa Bank Kenya is a game-changer in the financial landscape of Kenya. It offers instant loans and a range of financial services through a user-friendly mobile application. The app provides individuals with a convenient and reliable tool to meet their financial needs. It stands out with its flexibility, security, and focus on financial education. Overall, the app is a comprehensive and empowering financial companion.