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Barclays Timiza Loans Tariffs and How to Apply

Get instant Timiza loans on your phone, pay bills, transfer funds and purchase insurance with Timiza.

Timiza Features

  • Get instant Timiza loans on your phone
  • Deposit funds into your Timiza Account
  • Pay for KPLC/ZUKU/DSTV/GOTV bills with Timiza
  • Purchase insurance
  • Buy airtime

How to Apply for Timiza Loans: Simply Dial *848# or download it from Google PlayStore.

Barclays loans Timiza short service code *848#

Barclays loans Timiza short service code *848#

Barclays TIMIZA Loans

  1. What are the requirements for a customer to have a Timiza Account?
    1. Be a registered Safaricom
    2. Be a registered Safaricom MPESA
    3. Have an active Safaricom MPESA account/line.
    4. Hold a Kenyan National Identification Document (ID) Kindly note that Kenyan passports are not
  2. What are the services that Timiza offers?
    1. Transfer from MPesa to Timiza
    2. Transfer from Timiza to M-Pesa
    3. Make a loan request
    4. Repay loan
    5. Timiza balance enquiry
    6. Timiza mini statement
    7. Bill Payments
    8. Insurance
    9. Airtime Purchase
    10. Book a Cab – Little Cab (App only)
    11. Invite Contacts (App only)
    12. Fx Rates (App only)
  3. Can I access Timiza through a Barclays Branch or through any electronic channel?
    1. Timiza is operated entirely from the mobile phone and cannot be accessed

through a Barclay’s branch. Timiza is a separate bank account and is NOT linked to your Barclays account or any other bank account.

Timiza Tariffs and Guides

  1. What are the interest rates applicable on the Timiza Deposit Account?
    1. In line with the Banking (Amendment) Act 2016, all deposits on Timiza will earn interest of 7.00% p.a being 70% of CBR. The deposit account will be available
  2. What are the transactional charges for a deposit account?
Transaction Fees
Cash Deposit (C2B)**
Via M-PESAMpesa Charges apply
Funds Withdrawal**

 

Transfer to M-PESA (B2C) ;tiered
KES  0 – KES1000KES 23
>KES 1000KES 30
Transfer between Timiza AccountsFree
Other Services**
 

Bill payment BBK Charges

KES 50 ( As per existing

approved tariff)

USSD Costs charged by SafaricomKES 2

**all Timiza fees are subject to a 10% government excise duty

  1. What are the Timiza transactional charges for the loan product?
Timiza Loan Costs
Interest RateCBR + 4% (1.17%)
Timiza Loan processing fees5% per successful loan application
Roll Over Fees5% of the outstanding loan amount

Timiza Loan Product

  1. What are the features of the Timiza Loan?
    1. Quick access to credit
    2. Loan repayment period is 30 days
    3. One time facility fee of 5%
    4. Rollover fee of 5% if the customer does not pay within the 30 day
    5. Loan is disbursed to the customers Timiza account (not directly to Mpesa). Customer will access the funds by withdrawing from Timiza to Mpesa
  2. Who is eligible for a Timiza loan?
  1. In order to qualify for a loan all you need is to be an M-PESA subscriber for 6 months, transact on Timiza and actively use other Safaricom services such as voice, data and M-PESA.
  1. How do I check how much I can borrow?
  1. Upon activating the account, you will be issued with a loan limit from where you can borrow
  1. Is there any interest charged on Timiza loans?
  1. Timiza loans attract an interest charge of 1.17% with a facility fee of 5% charged on the cost of processing the
  1. Is there any interest charged on Timiza loans?
    1. Timiza loans attract an interest charge of 1.17% with a facility fee of 5% charged on the cost of processing the loan.
  2. Can you request for a loan immediately you opt-in?
    1. Yes your loan limit will be displayed when you log in to your Timiza
  3. Can you have more than one loan at a time?
    1. You have to repay your outstanding loan first before you can borrow another loan.
  4. Can you pay a loan on behalf of another person?
    1. You can send money to their Timiza account and they can pay the
  5. If you have not paid your loan within 30 days, what will happen?
    1. Your loan repayment period will be extended for an additional 30 days and you will be charged an additional 5% facilitation fee on your outstanding loan
  6. What happens if you pay in excess of the loan amount?
    1. The outstanding loan balance will be paid off and the extra amount will be moved to your Timiza
  7. If you pay your loan before the due date, will you still be charged the loan facilitation fee of 5% on the loan amount?
    1. Yes, the 5% is a facilitation fee charged on the cost of processing the loan. Early repayment will increase your future loan limit
  8. I cannot access Timiza loan. What are some of the reasons for this?
    1. You have been listed with the Credit Reference
    2. You already have an existing account
    3. You have a low credit
  1. How do I grow my loan limit?
    1. Increase activity on your Barclays Loan Account by moving money in and out of your
    2. Increase savings on your Barclays Loan
    3. Increase usage of MPESA

Timiza Insurance

  1. What insurance products are available on your loan account
    1. We offer Personal Accident(100K) and Funeral Cover
  2. What are the features of the insurance products
    1. The insurance products offered cover death and permanent total disability
  3. What are the charges?
    1. Your policy will be covered at Kes 42 per month
  4. How do I apply?
    1. Log in to to loan account by dialling *848#
    2. Pick the insurance option
    3. Accept the terms and Conditions
    4. Subscribe to the insurance option
  5. How do I make premium payments?
    1. The premium payments will be deducted from the deposit in your Timiza It is important to ensure that there are funds in the account to cater for the premium.
    2. Can I make the premium payment from a Timiza loan? YES, If Premium amount is deposited in the virtual account
  6. What are the charges?
    1. There are no additional charges to the insurance payment other than the Premium payment
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