Barclays Kenya launched a revolutionary Loan App known as Timiza Barclays App in a move that saw Barclays Kenya outsmart their competitors.
The Mobile Loan App is not only for getting loans but will go a long way in helping you develop a saving culture.
We are going to show you how to download the App and also demonstrate how you can use it to get approved for a loan faster.
Everything about Barclays Bank’s Timiza App
Timiza is an App from Barclays bank that allows the bank’s customers and the general public to get banking services on their phones.
With this Mobile App, you will be able to access the following services:
- Transfer from M-Pesa to Timiza
- Transfer from Timiza to M-Pesa
- Make a loan request
- Repay loan
- Balance inquiry
- Get mini statement
- Bill Payments
- Airtime Purchase
- Book a Cab – Little Cab
- Invite Contacts
- Fx Rates
Also important to Note is that the App services can be accessed through the USSD code *848#. This is a helpful feature for those who are not smartphone users. Check other Mobile Loan Apps available in Kenya.
How to get a loan from Barclays Timiza
Most users will use The Barclays App to access credit from their phone. The following information will show you how to get a loan from Timiza by Barclays.
Timiza Loan Requirements
You can borrow up to 150,000 and you are required to be an M-PESA user or subscriber for at least 6 months. The amount of loan you will qualify for will depend on how you use your M-Pesa. The App will look at your Mpesa Transaction History to determine your credit score.
In summary, you should at least meet the following criteria:
- Be a registered Safaricom Subscriber.
- Be a registered Safaricom M-PESA customer.
- Have an active Safaricom M-PESA account/line.
- Hold a Kenyan National Identification Document (ID) Kindly note that Kenyan passports are not allowed.
To get a loan follow the following steps:
Download the Timiza App and Register
If you have a Smart Phone all you need to do is go to Google Play Store and download the App and install it. After installing the App, you can open it to begin registration.
Register for Timiza
As indicated above, you have to register with your National ID and with a Safaricom mobile number which is active in order for you to receive the PIN via SMS.
Check Loan Status
If everything goes well and upon activating the account, you will be issued with a loan limit from where you can borrow. If it checks out, you are now able to access your loan.
What if you are not a Smart Phone Holder?
It is easy, Just Dial *848# and follow the prompts on your phone.
How to Grow Your Loan Limit
There comes a time you might need to get a loan of a higher amount than what they currently offer you. Here is how to make sure you increase your loan limit.
- You can move excess money from your M-Pesa to Your TIMIZA Account, this will show the bank that your account is active and might give you a raise.
- The first time I got the App, they asked me to deposit into TIMIZA, I came to realize later that this helps grow my loan limit.
- As I said earlier, the amount you qualify for initially will depend on your M-Pesa history, so it makes sense to increase usage of M-PESA services.