Timiza Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021

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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

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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.

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Timiza Personal Loan: Product Details & How to Apply

Timiza

Loan Type

Total Cost Breakdown (Loan Fees):

‍Disbursement Details:

‍Repayment Details:

‍Eligibility Requirements:

Representative Example of Loan Costs:

Money254 Review

Pros:

Cons:

See more Personal Loans available in Kenya on Money254

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

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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