Looking for a trustworthy personal loan in South Africa? The Old Mutual Personal Loan stands out for its straightforward approach, competitive fixed interest rates, and a high maximum loan amount of up to R250,000. Whether you’re facing an emergency or planning something big, this loan is structured with South African consumers in mind and offers transparent repayment options from 3 to 72 months. The maximum annual interest rate is capped at 28%, and all costs are explained up front for full peace of mind.

How to apply for the Old Mutual Personal Loan

1. Confirm you are at least 18 years old with a monthly income of R2,500 plus.
2. Gather your South African ID, three recent bank statements, and latest payslip.
3. Choose your application route: apply online, in-branch, over the phone, or via WhatsApp.
4. Complete the affordability and credit assessment process.
5. Receive your approval and payout—often within 24 hours once approved.

Top benefits of the Old Mutual Personal Loan

The application process is flexible, allowing South Africans to apply online, in person, or even via WhatsApp, making access convenient for everyone.

Fixed interest rates and clear, simple fee structures mean you always know what your monthly costs will be, without any hidden surprises.

What to consider: Old Mutual Personal Loan disadvantages

The maximum interest rate of 28% per annum is still on the higher side if your credit score is not excellent, potentially increasing your total repayment.

Applicants must be permanently employed for at least three months, which could exclude recent job movers or freelance workers from being eligible.

Our verdict: Should you choose Old Mutual Personal Loan?

Old Mutual’s personal loan is perfect for South Africans who want an easy-to-understand, reputable lending experience with flexible access. Its high maximum loan amount and transparent terms make it a solid choice—just ensure you meet the income and employment requirements before applying for quick payout and reliable service.