The Old Mutual Personal Loan gives South Africans access to affordable credit solutions, letting you borrow from R2,000 to as much as R250,000. With interest rates that are fixed and max out at 28% per year, you get predictable monthly repayments. Repayment terms are flexible, ranging from 3 to 72 months, so you can pay the loan back at a pace that fits your personal circumstances without worrying about fluctuating rates.

To be eligible, you must be a South African citizen, at least 18 years old, earn a minimum of R2,500 monthly, and have worked with your employer for at least three months. Application is assessed for affordability, and you’ll know the precise amount you’ll need to repay, including all fees. This transparency makes planning your budget much easier.

How to Apply for an Old Mutual Loan

To apply, gather your ID, three months’ bank statements, and your latest payslip. Complete the application online, in a branch, via WhatsApp or over the phone. Once approved, funds are typically paid out within 24 hours. All loans are subject to affordability checks and credit assessment.

Why Choose Old Mutual Personal Loan?

One great advantage is the fully transparent fee structure – you know exactly what you owe from the start. Repayments are fixed, so there are no surprises, and the maximum interest rate is capped. Flexible terms allow you to customise repayments to suit your needs, and the process is quick, with funds available in just one day after approval.

Points to Consider

Old Mutual loans come with initiation and monthly admin fees, which can increase the overall cost if the loan is for a short period. If you choose a longer repayment period, you’ll pay more in interest over time. Also, only South African citizens or permanent residents are eligible, so foreigners do not qualify.

Final Verdict

The Old Mutual Personal Loan is a well-rounded offering for South Africans who need structured borrowing with transparent terms. Its flexibility, speed, and the backing of a reputable financial brand make it a great choice for managing unexpected expenses or reaching financial goals without worrying about hidden costs.