Timiza app loan is Barclays Bank product, Safaricom users can acquire various services that include access to quick mobile loans of up to Sh150,000 at an interest rate of 6.7 percent.
TIMIZA APP DOWNLOAD
This app is only available on Android’s Google Play for obvious reasons. A future rollout to iOS users is expected as the bank strives to dispel the misconception that it appeals to a senior and well-off demographic
TIMIZA APP REGISTRATION
First download the app from google play
To access this facility dial *848# on Safaricom lines and wait for response
Then you will get login details
TIMIZA APP LOAN INTEREST
Those who qualify for a loan will be charged a 5% processing fee and monthly interest of 1.7%. In total, users will pay 106.7% of the cash borrowed. The window for repayment is 30 days. The Bank did not mention flexibility based on repayment agreements as some customers repay intermittently over a specified period. The maximum loan amount is KES 150,000.
TIMIZA APP SERVICES
Other services offered on the app include a transactional account, utility bills payment, purchase of insurance covers and withdrawing cash from the account to M-Pesa.
TIMIZA APP ADVANTAGE
ck to the main service: instant loans. To begin with, the app is not restricted to people who have an account with Barclays bank, although it is possible to link an existing account to the service. Secondly, loan qualification takes on the same approach we have seen in other products, where complex algorithms check for eligibility based on credit records (that are linked to your Safaricom line) including text messages and a good rapport with the CRB.