Close Menu
  • News
  • Counties
  • International News
  • Sports
  • Technology and Innovation
  • Our Forum
  • Contact Us
Facebook X (Twitter) Instagram
Trending
  • Harmonize Makes U-Turn, Allows Ibraah to Leave Konde Gang For Free
  • Dyana Cods Sends Boyfriend Sh 90k, Urges Women to Spend on Their Men
  • YouTube Couple The Maangis Narrate their Unique Journey to Stardom
  • Boniface Mwangi Celebrates Son Turning 18 With Painful 2007 Memories
  • De Bruyne seeks fitting Man City farewell in FA Cup final
  • FIFA lift ban on Congo Brazzaville
  • Free scoring Osoro eyes golden boot as Talanta resurgence continues
  • Mombasa Sports Club keen to end blip in hockey women’s league
Facebook X (Twitter)
Breaking Kenya News
Leaderboard Ad
  • News
  • Counties
  • International News
  • Sports
  • Technology and Innovation
  • Our Forum
  • Contact Us
Breaking Kenya News
You are at:Home»News»Barclays launches mobile loan app
News

Barclays launches mobile loan app

By March 17, 2018Updated:December 19, 2024115 Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email


Barclays Bank of Kenya has launched a new mobile loans service dubbed Timiza, increasing the competition in the lucrative micro lending segment.

Timiza is entering a crowded field of commercial bank-backed lending apps such as M-Shwari, Equitel, M-Co-op Cash, and KCB M-Pesa.
The lender said customers can access micro loans of between Sh100 and Sh150,000 from the platform at interest rates of 1.17 per cent monthly and one-off facilitation fee of 5 per cent. The loan is repaid in 30 days.
The new app is currently available to Safaricom’s M-Pesa users through USSD *848# and can also be downloaded from Google Play store.
Barclays Chief Executive Jeremy Awori said the launch of the service was informed by the lender’s studies that showed consumers want convenient, digital banking services. He added that the product is in line with the lender’s renewed focus on the SME market and a cost-cutting strategy.
READ: How technology is transforming Kenya’s banking
Barclays announced last July it would  close seven of its branches citing “current market realities.”
“More than 50 per cent of consumers around the world want to do their bank via the mobile phone,” said Mr Awori.
“So digital banking is not just a way of the present but the future.”
The new service, backed by Safaricom and Craft Silicon, enables consumers to save money, pay utilities, procure micro insurance and pay for online taxi hailing cab Little Cab services.
     
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

I have been arrested by over 15 armed officers – MP Salasya says

Kenya records 497 increase in rhino population in four years – report

Orwoba honours UDA summons, presents order stopping disciplinary case

Categories
  • business
  • Counties
  • ENTERTAINMENT
  • International News
  • News
  • OPINION
  • Sports
  • Technology and Innovation
  • Facebook
  • Twitter
  • Instagram
  • Pinterest
  • Popular
  • Recent
  • Top Reviews
March 17, 2018

Barclays launches mobile loan app

February 4, 2019

Hyena mauls boy to death in Laikipia, injures father

February 16, 2019

How corruption and impunity are aiding terrorism in Kenya

May 16, 2025

Harmonize Makes U-Turn, Allows Ibraah to Leave Konde Gang For Free

May 16, 2025

Dyana Cods Sends Boyfriend Sh 90k, Urges Women to Spend on Their Men

May 16, 2025

YouTube Couple The Maangis Narrate their Unique Journey to Stardom

Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Authors
  • Contact Us
Copyright © 2025 ThemeSphere. Powered by WordPress.

Type above and press Enter to search. Press Esc to cancel.