Timiza Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021
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Timiza

Timiza
Easy Apply
Amount
Ksh1K- 150K
Duration
1 month
Interest Rate
1.29% per loan
Total Cost Including Institution's Other Fees
7.29% per loan
Typically approved within 24 hours
visit website
Easy Apply

Loan Type

Unsecured Loans

Total Cost Breakdown (Loan Fees):

  • Interest Minimum: 1.29%
  • Interest Maximum: 1.29%
  • Processing fee: 5%
  • Excise Duty: 20% of Processing fee (1%)
  • Insurance Fee: None
  • Withdrawal Fee: Ksh 32 From Timiza Wallet to M-Pesa
  • Late Fees: 5% Roll-over
  • Other Fees: None

Disbursement Details:

  • Institution Type: Commercial Bank
  • Application Method: App/USSD
  • Disbursement Method: Timiza Wallet

Repayment Details:

  • Repayment Frequency: Bullet
  • Early Repayment: Allowed
  • Payment Method: M-pesa

Eligibility Requirements:

  • Smartphone: Not Required
  • CRB: Must be in Good standing
  • Income: No minimum
  • Employment: Not required
  • Network: M-pesa Customer
  • History: M-pesa Account active for 6 Months
  • Documents: National ID
  • T&C Links

Representative Example of Loan Costs:

  • Example Loan Amount: ksh100,000
  • Representative Loan Cost: 7.29%
  • Total Loan Repayment Amount: ksh107,290

This product is provided by Absa Bank Kenya Plc. Absa Bank Kenya Plc is a Commercial Bank licensed under the Banking Act Cap 488 of the Laws of Kenya and regulated by the Central Bank of Kenya

How to Apply

Money254 Review

Pros:

  • Low loan cost (7.29%)
  • Application Via App or USSD
  • Less than 24 hour approval time

Cons:

  • Withdrawal fees from Timiza wallet to M-pesa

See more Personal Loans available in Kenya on Money254

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How to Apply for Timiza Loan, App, Repayment, Fees, Contacts

The Timiza Loan App is an instant loan app owned by Absa Bank Kenya PLC, and is available both on Apple Apple Store and Google Play Store with over 1 million downloads and a 3.8 out of 5 star rating on Google Play.

Services offered by Timiza accounts

Who Is Eligible For Timiza Loans?

Timiza Loan Limits and Interest Rates

How to Register Using the Timiza App

How to Apply for Your First Timiza Loan

Application for a Timiza Loan Using USSD service

How To Make Timiza Loan App Repayments

Timiza Loan App Fees and Penalties

Timiza Loan App Privacy and Permissions

Timiza Loan App Reviews and Contacts

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