Timiza by Absa Bank Kenya: Your Ultimate Mobile Banking Solution for Instant Loans, Savings, Insurance & Bill Payments
Timiza, powered by Absa Bank Kenya, is a cutting-edge mobile banking platform designed to deliver fast, reliable, and affordable financial services directly to your phone. Whether you are an Absa customer or not, Timiza offers seamless access to instant loans, savings accounts with competitive interest rates, insurance coverage, and convenient bill payments, making it the preferred choice for millions of Kenyans seeking quick credit and easy banking solutions.
What is Timiza?
Timiza is a digital financial wallet launched by Absa Bank Kenya that enables users to perform a wide range of banking activities without visiting a physical branch. Accessible via the Timiza app or USSD code *848#, it allows users to borrow instant loans, save money with attractive returns, pay utility bills, purchase airtime, and access insurance products. The platform promotes financial inclusion by serving both Absa and non-Absa customers, empowering Kenyans to manage their finances anytime, anywhere.
Key Features of Timiza
Instant Mobile Loans: Borrow from KSh 50 up to KSh 150,000 instantly, with loan amounts personalized based on your credit profile and repayment history.
High-Interest Savings: Open a Timiza Goal Savings Account and earn up to 9% interest per annum, paid quarterly into your wallet.
Convenient Bill Payments: Pay for utilities including KPLC, ZUKU, DSTV, GOTV, and more directly from your phone.
Airtime Purchases: Seamlessly buy airtime for Safaricom and Airtel lines.
Insurance Coverage: Access personal accident cover up to KSh 100,000 and funeral cover up to KSh 50,000 for as low as KSh 42 monthly.
Fund Transfers: Transfer money to other Timiza users or withdraw funds to your M-PESA account or Absa ATM.
Eligibility Criteria
To qualify for Timiza services, you must:
- Be a registered Safaricom subscriber with an active M-PESA account for at least six months.
- Regularly use Safaricom services such as voice, data, and M-PESA.
- Maintain a positive credit rating with the Credit Reference Bureau (CRB).
- Not be blacklisted by Safaricom’s Okoa Jahazi service.
How to Register for Timiza
Via App: Download the Timiza app from Google Play Store or Apple App Store, register using your Safaricom number, ID, and email, then set your PIN.
Via USSD: Dial *848# on your Safaricom line and follow the prompts to register.
How to Apply for a Timiza Loan
Using the App: Log in, navigate to “My Loans,” select “Request Loan,” enter the amount, and submit. Upon approval, funds are credited instantly.
Using USSD: Dial *848#, enter your PIN, select “Loan,” then “Request Loan,” input the amount, and confirm.
How to Repay Your Timiza Loan
Via M-PESA: Use “Lipa na M-PESA,” enter Paybill number 300067, your Timiza phone number as the account number, and complete the payment.
Via USSD: Dial *848#, enter your PIN, select “Loan,” then “Pay Loan,” enter the amount, and confirm.
Tips to Increase Your Timiza Loan Limit
- Regularly use Timiza for bill payments, airtime purchases, and savings.
- Maintain a good repayment history by paying loans promptly.
- Increase your M-PESA transaction activity.
- Build a savings history with the Timiza Goal Savings Account.
Timiza is revolutionizing mobile banking in Kenya by providing an all-in-one financial platform that is accessible, affordable, and tailored to meet the diverse needs of Kenyans. With over 5 million users and billions in loans disbursed, Timiza continues to drive financial inclusion and empower individuals and small businesses across the country.