I needed to repay my Timiza loan via M-Pesa, but I wasn’t sure about the correct paybill number or account details. Since late payments attract extra charges, it’s important to repay on time.
If you’re using Timiza and want a quick repayment method, here’s a simple guide to help you do it correctly.
Quick Answer
To pay your Timiza loan via M-Pesa, go to Lipa na M-Pesa → Paybill, enter 300067, use your registered phone number as the account number, and confirm payment.
What Is Timiza Loan?
Timiza is a mobile loan service by Absa Bank Kenya that allows users to:
- Borrow from KSh 50 to KSh 1,000,000
- Repay within 30 days
- Access loans via *app or USSD (848#)
What You Need Before Repayment
- Registered Timiza phone number
- M-Pesa balance
- Correct Timiza paybill number (300067)
Step-by-Step: How to Pay Timiza Loan via M-Pesa
Step 1: Open M-Pesa Menu
Go to your M-Pesa menu.
Step 2: Select Lipa na M-Pesa
Choose Lipa na M-Pesa → Paybill.
Step 3: Enter Business Number
Enter 300067.
Step 4: Enter Account Number
Input your phone number registered with Timiza.
Step 5: Enter Amount
Enter the amount you want to repay.
Step 6: Enter M-Pesa PIN
Enter your M-Pesa PIN and confirm.
Step 7: Confirm Details
Check details and press OK.
Step 8: Receive Confirmation SMS
You will receive a confirmation message from M-Pesa.
Important Things to Know
- Loan repayment period is 30 days
- Late payment attracts additional charges
- Defaulting may lead to CRB listing
Penalties for Late Payment
- 5% roll-over fee on outstanding balance
- Extension of loan period by 30 days
- Risk of being listed on CRB
Extra Tips and Best Practices
- Repay your loan before the due date
- Always confirm your phone number
- Keep payment confirmation messages
- Pay full amount to avoid penalties
- Monitor your loan balance regularly
Common Mistakes to Avoid
- Entering wrong phone number
- Using incorrect paybill number
- Paying less than required amount
- Ignoring due date
- Not confirming transaction details
FAQ
What is Timiza paybill number?
The paybill number is 300067.
What account number should I use?
Use your registered phone number.
What happens if I don’t repay on time?
You will incur extra charges and possible CRB listing.
Conclusion
Paying your Timiza loan via M-Pesa is quick and easy. Just follow the steps carefully, confirm your details, and repay on time to avoid penalties.
