Life often happens without warning and when you’re least prepared for it. But with a personal loan from Old Mutual, you can pay for an emergency expense, seize that once-in-a-lifetime opportunity, or turn a house into a home.
Why get a loan from Old Mutual
We make borrowing affordable and easy to understand.
You’ve got options
Old Mutual offers loans up to R250 000 with repayment terms of 3 to 72 months.
It’s affordable
All loan applications are subject to an assessment to determine your affordability. Our aim is to only grant loans on terms that you can afford.
We’re transparent
We show you how your loan works and explain how loan term affects the cost of a loan.
Understanding the cost of a personal loan
Payment options range from 3 to 72 months. Interest is calculated monthly. A once-off initiation and admin fees apply. The maximum interest rate is 29.25% annually. Below is a representative example of the cost of a personal loan.
Loan amount: R5 000 Loan term: 3 months Total interest payable over loan period: R348.16 Once off initiation fee: R649.75 Monthly admin fee: R69
Total amount payable: R6 204.91
How can I apply for a personal loan?
You can apply for a personal loan online, in a branch, or over the phone by calling us on 0860 000 866.
What do I need to apply for a personal loan?
Besides being at least 18 years old and a South African citizen, you will need the following to apply.
ID document
3 months bank statements not older than seven days
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