Old Mutual offers a personal loan product designed with flexibility and transparency in mind. Loan amounts range from R2,000 to R250,000, with repayment terms available from just 3 months up to 72 months. Their interest rate is fixed for the life of your loan, and the maximum possible rate is 29.25% per annum. Fees include a one-time initiation fee (R165 + 10% of the amount above R1,000, capped at R1,050 excluding VAT), a monthly admin fee (R60 excl. VAT), and a compulsory credit life premium for loans 12 months or longer.

신청 방법: 단계별 안내

To apply, you’ll need to be 18 or older, a South African citizen, and earn at least R2,500 per month. Gather your ID, 3 months’ recent bank statements, and your latest payslip. Applications can be completed online, at any branch, or over the phone. Approval is fast, with funds paid out within 24 hours of approval, although timing may vary.

Key Benefits

Old Mutual stands out for its wide range of loan amounts and highly flexible repayment options. Fixed interest means your monthly repayments remain the same, and there are clear, upfront cost explanations. The quick turnaround from approval to payout allows you to meet urgent needs conveniently.

잠재적인 단점

Prospective borrowers must note the initiation and monthly admin fees, which can increase the total cost for smaller loans. Also, the loan requires formal employment for at least three months at your current employer, limiting eligibility.

평결

Old Mutual’s personal loans suit anyone needing a reliable, transparent credit solution with quick access to funds. If you meet the qualifying criteria, it’s a well-structured and trustworthy choice for South Africans looking for either emergency cash or longer-term borrowing.