Old Mutual Personal Loan Review: Fair Rates, Flexible Repayments & Fast Approval

Old Mutual offers personal loans designed for everyday South Africans who need quick access to cash for essentials like car repairs, medical bills or education.

Loan amounts range from R1,000 up to R250,000, with fixed interest rates depending on your credit risk profile. Repayment terms can be set from 3 to 72 months, letting you match your loan to your budget. Approval takes only minutes once documents are provided, and funds are often paid out within 24 hours. The process is designed to be transparent with clear terms and no surprise costs.

How to Apply for an Old Mutual Personal Loan

1. Check your credit score—this impacts approval and rates.
2. Gather your ID, latest payslip and three months’ bank statements.
3. Apply online, by phone or in-branch with Old Mutual advisers.
4. Review your loan offer and repayment details before accepting.
5. Approval decisions are typically made the same day after document verification.

Advantages of Old Mutual Personal Loans

With Old Mutual, you benefit from flexible loan terms and responsible risk assessment so you never borrow more than you can afford.

The clear, fixed-rate structure helps you plan your monthly budget and avoid payment surprises, making these loans suitable for managing emergency expenses.

Drawbacks of Old Mutual Personal Loans

The fixed interest rate, though helpful for planning, may be higher for those with low credit scores compared to some competitors.

Loans are only available to applicants with a stable income—self-employed or informal earners may not qualify, and you can’t apply purely on SASSA income.

Nosso veredicto

Old Mutual’s personal loan is a solid option for South Africans looking for transparent and reliable lending. The quick payout, flexible terms, and responsible criteria ensure you stay in control of your debt. It’s a good fit for essential purchases or self-improvement expenses if you meet eligibility requirements.