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Thursday, May 10, 2018

Timiza Loan App

    May 10, 2018   No comments
Timiza App by Barclays bank
#TimizaKE @Barclays_kenya
Timiza App by Barclays bank is designed to enable Kenyans to access Loans among other services like paying bills, airtime top up,buying insurance,forex and paying for Little Cab over Android smartphones and tablets.

Allow me to give my experience with Timiza Loan App from Barclays Bank. As always my interest is in the 'loans feature '.

I learnt about Timiza like two months ago ( in March during the launch).As usual ,I tested it, the same way I did with Tala, Branch, Haraka,Shika, Afrikash and more ,because I wanted to share here on Loans Kenya Blog.The results were not okay for me.

Timiza was telling me 'No Account To Link ' and my loan limit was 'ZERO'.I quickly grouped this as one of those apps that require a linked bank account and savings like what most bank apps need.I therefore decided to leave it idle because I didn't have an account with Barclays.

Two months later (in May), today I decide to try Timiza app again and I was surprised!With nil savings and without linked bank account ,my loan limit was ksh16200 !

I decided to test the app again by requesting a loan of ksh 10000 , my first Timiza loan.Though it took two hours but it was credited to my Timiza virtual account.

Timiza App by Barclays loan approved

I can now confidently recommend Timiza Loan App to fellow Kenyans.This app truly gives out loans and you need to an account with Barclays.The app will create a virtual account for you.

Getting Started with Timiza App.

All you need is to be 18 years and above,have an Mpesa account and an Android device (either a smartphone or tablet).

Now you're ready to go! 
If you don't get a loan limit right away, you can start saving with your virtual Timiza account or give it sometime like what I did.Just don't uninstall the app !

How to borrow from Timiza App 

  • Login to app
  • You'll get your loan limit displayed 
  • Select 'my loans'
  • Select 'Request loan '
  • Enter the amount you wish to borrow (never exceed the loan limit)
  • Select 'Continue '
Wait for a notification from Timiza.If approved ,your money will be in your Timiza account.You can move your money into your Mpesa account and withdraw it from Mpesa agents .

Check Timiza interest rate and fees below;

How to Repay Timiza Loan

  • Login to the app
  • Select 'My loans '
  • Select 'Repay loan'
  • You choose to repay in full or partial 
  • You can also choose to repay with Timiza or Mpesa 
  • Enter transaction pin ( your Timiza PIN )
  • And continue 
Wait for a notification from Timiza.
You can also visit any Barclays bank branch to repay the loan. 

How to Contact Timiza Help Center 

If you encounter any issues with the app, you can always use the ways below to seek for help;
  • Call; 020 3900000
  • Call;0732 130120
  • Call;0722 130120
  • Email; barclays.kenya@barclays.com


Tuesday, May 08, 2018

Okash App Leads In Daily Downloads

    May 08, 2018   No comments
Okash Loan App becomes most downloaded daily

Okash Loan App is at the top on Google play store's list of daily downloads for free apps in Kenya beating even it's own Opera News.

Top 5 free apps


  1. Okash
  2. Opera News
  3. WhatsApp 
  4. Tala 
  5. Branch

The app which provide quick mobile loans of between kes1500 to kes500000 to Android Smartphone users in kenya was launched in March 2018, and its barely two months old now.

Download Okash Loan App now

Eddie Ndichu, MD Opera confirmed that the app has over 100000 active users daily ,disbursing about kes10million in loans a day.
In total, Okash Loan App has close to 500000 downloads .

Thursday, April 26, 2018

Financial Tips For Millennials

    April 26, 2018   No comments
Money Tips on saving, borrow and managing cash

Maximizing the income stream and optimizing the money that goes out is perhaps the oldest secret in the financial success book. Everyone strives to achieve that, however, life has a way of complicating the formula.

Look for instance, some perennial issues like:
  • Undisciplined spending habits
  • Lack of budgeting
  • Failure to save and invest 
And millennial-specific issues like:
  • High education and lower employment rates than never before
  • Extended duration of living with parents
All tend to influence our financial habits.


So, how do you become a smarter spender?
  • By making a budget 
  • By shopping smart
  • By auditing your recurring payments 
  • By travelling frugally

Here are some tips to get you started

Read Also; 6 Ways An Online Loan Can Help

Saving your money

Paying yourself first is considered a golden rule by many financial experts; the idea is simple, once you get paid, ensure that you put a certain percentage of the money into your savings account first, then you can plan with the remaining amount. Having a well-defined savings goal can be instrumental in this, as it will act as your guide in allocating the funds.

The Approach

With so many expenses to deal with, you might find it challenging to set aside money for yourself.  A good approach should be to have the money automatically deducted into your savings account before it reaches your hand.
You can also look at saving as an investment. The idea of your money working for you can serve as a motivation for saving. If this excites you, then you may consider saving with a SACCO in Kenya. Some give you dividends, or interests. Others will give you both. Just be sure to do your due diligence upfront.

Saving money tips

  • Record your expenses
  • Make a budget
  • Choose your priorities
  • Make saving automatic

Managing Money

Analyze your monthly income against expenditure; like what you own vs. what you owe. It is also vital to note down how much money you are saving every month. Doing a financial inventory will give you a clear understanding of your cash flow, which is a huge step towards making sense of your financial health.

The Approach

Begin by writing down every money that goes out – whether it’s shopping, expenses, rent etc. Also write down how much money you intend on saving. Your total expenditure should not exceed your income, because then, you’ll be living beyond your means.

Managing money summary 

  • Track your spending
  • Cut down on expenses
  • Be flexible
  • Save more

Borrowing

Borrowing money from banks or SACCOs in Kenya is the simplest way to get the required funds to grow your business.  Before taking a loan, ensure you have a clear blueprint on how you’re going to use the money, and your repayment plan. It’s also a good idea to calculate the risks involved upfront.

The Approach

Take time to shop around. Not all financial institutions are created equal, some offer incredible deal, while others, are out to squeeze you dry. Know the difference between secured and unsecured loans, understand the annual percentage rate, interests and more.

Borrowing Summary

  • Shop around
  • Work out your budget
  • Don’t borrow on the spur of the moment
  • Make timely payments
  • Watch your credit limit
  • Run regular credit report
  • Create a payment plan

Post By ; Olivia Kibaba, - Business Blogger

Wednesday, April 25, 2018

Tala Nominated For 2018 Google Play Awards

    April 25, 2018   No comments
Tala Nominated For Google Play Awards 2018

Tala App on Tuesday was named by Google among the nominees under the Social Impact category for this year's Google Play Awards to be held on 7th May.

The Social Impact category is meant to reward the best android app that create a positive impact in communities around the globe.

The Android apps under the Best Social Impact Category, nominated for 2018 Google Play Awards are as follows;

Tala ,as a microfinance has helped over a million people since inception to acquire loans through their android smartphones by using the Tala App found on Google Play store.

In Kenya alone, Tala headed by Rose Muturi ,has clocked over 1million downloads and counting. In Tanzania, the app has over 100000 users in less than a year after it's availability in the country.

Recently Tala Mobile received around ksh6.5billion in funding to help improve and spread it's credit services to new markets including Mexico and India.