TIMIZA Airtel Money Tanzania

• You get loans without savings and deposits
• You get pre-approved instant loans
• You can borrow larger amounts every time you clear your loans on time
• You get affordable interest rates
• The loan amount is depend with you use of Airtel money

Who qualifies for Timiza

To qualify for a Timiza loan you need to be an Airtel Money customer and have the following criteria

• Above the age of 18
• Have registered as an Airtel customer for 90+ days
• Have an active Airtel Money Account
• Have NO outstanding loan with JUMO at the time of application
• Have NO historic negative payment behavior with JUMO
• Keep on requesting a loan to see if you are eligible.

How to get Timiza

• To apply for a Timiza loan, simply. Dial *150*60 and choose option 4 on the Airtel Money Main Menu.
• You will need to enter your Airtel Money PIN to agree to the Timiza Terms and Conditions.
• After that, you simply go to option 1 on the Timiza Loan Service Main Menu and select Request a Loan.

Timiza Credit Tips

How to be a responsible borrower

Whether you need to buy stock for your business or cover an emergency expense, being able to borrow money quickly and easily can be a lifesaver. If you decide to take a loan, you’ll need to manage your debt wisely. Here are five simple tips to help you do that.

Only borrow what you can afford to repay

Before you take a loan, think about whether you can actually afford it. Take a good look at how much you earn and how much you spend, and then decide whether you’ll be able to pay back the loan when you need to. If you think it will put a strain on you financially, don’t take it.

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Understand the conditions

Every loan agreement comes with certain terms and conditions. Make sure that you know and understand exactly what you’re being offered, including:

• The loan amount (how much money you are being offered)
• How much you have to pay back (the total cost of the loan)
• Whether there are any additional fees (like insurance, initiation fees or service fees)
• The term of your loan (how much time you have to pay it back)
• When your repayment is due  (the date you need to pay it back)

Use the money wisely

Carefully consider how you want to use your loan, bearing in mind that you’ll be paying interest on the money you borrow. Your loan could help you to buy extra stock for your business, allowing you to make more profit. This profit could cover the cost of the loan and leave you with additional money that you can use to grow your business. Or you may want to use your loan to cover an unexpected expense that you simply can’t afford right now. How you spend the money is up to you, but try to avoid using it to buy things you don’t really need.

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Pay back your loan on time

Make a note of your repayment date and plan ahead to ensure you have enough cash available. Repaying your loan on time will help you to build a good credit record, which may make it easier for you to get other loans and credit products. Remember, if you miss your repayment you will be charged late payment fees. You could also be blacklisted with the credit reference bureau which will reduce your ability to take any loans in the future.

Stick to a budget plan

Budgeting is a good way to keep track of your money on a monthly basis. A simple way to do this is to add up your monthly income and subtract your monthly expenses. This will show you if you’re spending more than you earn. Cut out unnecessary expenses and always pay your most important debts first. It may take a while to get used to, but following a budget plan will give you greater control over your spending, reduce stress and help you to build healthy money habits.

Credit tips provided by afb.

About afb

afb’s mission is to unlock the potential in Africa’s digital footprint. Using data to understand behaviour, we give people the power to change their lives through innovative financial products.www.afb.com