The Old Mutual personal loan is designed to help you in many different ways. Whether you are looking for extra cash to pay for medical expenses, school fees and home improvements or for a vacation an Old Mutual personal loan will be able to meet your needs.
You can apply for a personal loan of up to R250 000.
Payment options range from 3 to 72 months.
You can also apply for a debt consolidation loan from Old Mutual. This will benefit you as you will only pay a single admin fee.
Once a personal loan is approved how you use the funds is up to you.
Old Mutual is committed to providing personal loans and debt consolidation products that will give you financial freedom and help you manage your debt responsibly. Interest rates on an Old Mutual personal loan are fixed at the time of application. The interest rate applied will depend on your credit score.
Old Mutual has been in operation for over 168 years and is one of the largest and most trusted financial services providers in Southern Africa. You will benefit from their skills and experience they have gained over the years.
Many South Africans have been given financial assistance at their time of need and you can be assured of getting the same assistance in a professional manner.
Too many South Africans fall prey to loan sharks that charge high repayments. Old Mutual has designed their loans to suit customers’ situations and not charge them high and unnecessary fees for loans.
Credit of R100 000 borrowed for 3 months at 18% interest and with credit life insurance at R4.50 per R1 000.
Initiation fee: R1 197 (once-off)
Admin fee: R68 per month
Monthly instalment: R3 686
Total admin fees: R2 448
Interest paid: R30 169
Total credit life paid: R16 394
Total Amount Payable: R159 665
Valuable tip: Struggling to keep up with repayments? Extend your loan term and lower your monthly installments. Extending your term also mean that you will pay more interests and fees accrued over the life of the loan.
Requirements To Apply For Old Mutual Personal Loan
- You must be 18 years or older
- A Valid ID or passport
- Latest Payslip and earn at least R2 500 per month
- 3 months bank statements
- Proof of residence
- You must be employed for at least 3 months at the same employer
- Credit Life Insurance for loan with terms of 12 months or more
Application for a loan can be done online by visiting their website.
You can also apply over the telephone where a friendly consultant will work through your application with you.
The third way you can apply for a loan if by visiting an Old Mutual branch. If you visit a branch remember to carry the required supporting documents.
Old Mutual Personal Loan contact Details
Telephone: 0860 000 886
Monday to Friday: 07h30 to 18h00
Saturday: 08h00 to 13h00
Closed on Sundays and Public Holidays