Friday, January 11, 2019

How to Apply and Repay Timiza Loan from Barclays Bank

How to Apply and Repay Timiza Loan from Barclays Bank
Barclays Bank of Kenya in 2018 launched their digital banking platform called Timiza. They offer various services among them loans, bills payment and insurance.

One can borrow up to Ksh. 150,000 with Timiza loan mobile application and their repayment period is up to 30 days.

People who don't bank with Barclays can also apply for loan with Timiza loan mobile application. Their interest rate is 4% and they currently have 500k plus downloads on Google play store.

Before applying for Timiza loan;

1. You should not be listed with CRB.

2. You are not supposed to be blacklisted by Safaricom.

3. You need to have an active M-pesa line with Safaricom.

4. You need to have an Identification Card (ID).

Below is a detailed procedure on how to apply and repay Timiza loan

1. Go to Google Play Store and download the app.

2. Fill in the required information.

3. Allow Timiza loan application to access your messages and also manage calls.

4. Key in your Safaricom number followed by your ID number in order to register.

5. After that you will be required to set your PIN which you will use to login to the application every time you want to access it.

6. The app will automatically display on the screen the amount of money you can borrow.

NB: Timiza loan mobile app can also be accessed by dialing *848# on your cellphone. Your loan limit can be increased by cashing money in and out of your Timiza account. Also your saving routine on Timiza matters a lot plus usage of M-pesa services.

How to repay your Timiza loan

1. On your cellphone go to your sim toolkit and click on M-pesa.

2. Go to Lipa na M-pesa.

3. Choose the Paybill option.

4. Enter 300067 as your business number.

5. On the account number option enter the number you used to register for Timiza.

6. Key in the amount of money you borrowed.

7. Enter your M-pesa pin number.

8. Confirm if all the details you've entered are correct and click OK.

9. You will receive a confirmation message.

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