Old Mutual offers personal loans from R2,000 up to R250,000, making it a flexible option whether you need extra cash for emergencies or for planned expenses. The interest rate is fixed, capped at 28% per annum, which brings peace of mind as your repayments remain predictable. Repayment terms are flexible too, ranging from 3 to 72 months, enabling you to find the option best suited to your personal budget.

To qualify, applicants should be South African citizens between the ages of 18 and 60, earn a minimum monthly income of R2,500, and have been employed permanently for at least three months. During the application, you’ll also need to submit your South African ID, three recent bank statements, and a recent payslip.

Cómo solicitar un préstamo personal de Old Mutual

1. Check if you meet the requirements: citizenship, age, income, and stable employment.
2. Gather your SA ID, three months’ bank statements, and latest payslip.
3. Apply online, by phone, via WhatsApp, or by visiting a branch.
4. Go through the loan affordability assessment for a suitable offer.
5. If approved, receive your funds within one working day.

Key Pros of Old Mutual Loans

The loan application process is streamlined, allowing applications via several channels – online, phone, WhatsApp, or in-person. Approvals and payouts are fast, with funds available within 24 hours of approval. There’s transparency in all costs, so you always know what you’re signing up for. Plus, Old Mutual assesses affordability to protect your financial wellbeing.

Potential Cons of Old Mutual Loans

A notable downside is the upfront initiation fee, which can make short-term, small-amount loans relatively expensive in terms of total repayment. Additionally, only those with stable employment qualify, excluding self-employed or informal earners from this solution. The maximum rate of 28% also means some applicants may face higher borrowing costs if their credit profile is less favourable.

Veredicto final

Old Mutual Personal Loans are a reliable choice for South Africans seeking a trustworthy lender, especially for emergencies or planned projects. Transparent fees, flexible terms, and rapid payouts make this an attractive product, provided you meet the requirements and are comfortable with the total loan cost. Overall, it’s a solid offer for responsible borrowers.