About the Old Mutual Zero Interest Loan

This zero interest loan from Old Mutual gives South Africans a unique opportunity to access funding without the burden of interest charges. The offering is linked directly to your existing Plan or Savings Benefit. Applicants keep paying their regular premiums, and can still invest ad hoc while benefiting from access to cash.

The loan amount is determined by legislative and policy constraints. The borrowed sum is limited to the lesser of the amount you request, or the maximum allowed by law. Repayment can be made at any time, either in full or in portions, provided minimum requirements are met.

Old Mutual settles the loan in South African currency at its principal business place, ensuring straightforward transactions. The entire loan becomes immediately due if your benefit matures, you experience insolvency, or minimum investment limits are breached.

This is not a standard cash advance but a policy-linked benefit suited to those wanting low-cost access to their savings. The plan has sensible restrictions for your financial security.

How to Apply: Step by Step

• Check your eligibility: confirm you have an active Old Mutual Plan/Savings Benefit and meet minimum requirements.
• Complete the zero interest loan declaration form, ensuring all details are accurate and up to date.
• Provide original identification, policy information, and proof of address as part of your application pack.
• Submit the completed documents to Old Mutual and wait for assessment.
• Upon approval, Old Mutual will disburse funds, potentially in instalments.

Pros of the Old Mutual Zero Interest Loan

This loan’s biggest highlight is the zero interest structure. You pay back what you borrow, not a cent more, reducing your debt burden considerably.

Flexibility for repayments is another plus. You can settle your balance either in lump sum or staggered over time according to your own financial pace.

Cons of the Old Mutual Zero Interest Loan

The loan can only be accessed by policyholders with qualifying Old Mutual Plans and cannot be ceded or pledged elsewhere while the loan is active.

Amount limits are bound by both your policy value and legal restrictions, which means some applicants may not receive the full sum they need.

Our Verdict: Is It Worth It?

If you hold an Old Mutual policy and seek ready cash without interest, this offer is an excellent fit. It requires responsible use of your savings plan, but the cost and flexibility make it compelling. Borrowers benefit from minimal fees, simple process, and peace of mind.