Old Mutual offers personal loans from R2,000 up to R250,000 to help South Africans with various financial needs. Loan terms range from 3 to 72 months, allowing borrowers to choose a repayment period that best fits their budget.

Interest rates are personalised depending on your credit assessment and risk profile, starting from a competitive rate. The application is 100% online, with a fast approval process and minimal paperwork required. To qualify, you must be a South African citizen, aged between 18 and 60, earning more than R2,500 per month and permanently employed or on contract for at least three months.

How to Apply Step by Step

1. Start the application online and fill in your personal details.

2. Enter your employment and monthly salary information.

3. Complete the affordability assessment for Old Mutual to verify your ability to repay.

4. You receive a tailored loan quote instantly.

5. Submit your address and upload supporting documents if available (not compulsory).

Pros of Old Mutual Personal Loan

Old Mutual’s loan offers unmatched flexibility, allowing larger loan amounts and longer repayment terms. The simple online application results in a quick decision.

You benefit from the transparency and reliability of a trusted national lender, with no hidden costs along the way. Early settlements are allowed if you pay off your loan before the term ends.

Cons of Old Mutual Personal Loan

The personalised rate may be higher depending on your creditworthiness. Self-employed applicants may not be eligible, limiting access for some South Africans.

Applicants need to provide employment documentation, so temporary staff or those with very new contracts may struggle to qualify.

Our Verdict

Old Mutual Personal Loan is a solid choice if you need flexible borrowing amounts with a trusted provider. The streamlined application is user-friendly and fast, while eligibility is clear and fair. It’s tailored for South Africans with stable employment needing cash for a range of purposes.