Old Mutual offers a trusted and flexible personal loan option that caters especially well to South Africans looking for quick approval, straightforward requirements, and competitive terms. Their loan application process is simple, and applicants can qualify with a minimum monthly income of R2 500 before deductions. If you’re between 18 and 60 years old with permanent employment or a contract of at least three months, you’ll be eligible to apply.

Interest rates and loan terms are based on your risk profile and affordability. Although detailed rates aren’t provided up front, Old Mutual’s reputation ensures market-related offerings and transparency. You can speed up your application by uploading supporting documents, though it’s not compulsory to submit them at first.

How to Apply: Step-by-Step Guide

1. Check you meet the eligibility: South African citizen, aged 18–60, earning at least R2 500 per month, and permanently or stably employed.
2. Start the online application. You’ll be guided through personal details, employment history, affordability, and address information.
3. Upload supporting documents if you want to speed up the process (recommended but optional).
4. Review your loan quote and confirm submission.
5. Wait for approval and feedback, and receive funds once approved.

Advantages of Old Mutual Personal Loans

The application process is straightforward, guiding applicants with step-by-step stages for clarity and reduced confusion, and it’s accessible online at any time.

One distinct advantage is the low minimum monthly income requirement, making this loan accessible even to those with entry-level salaries. Optional document upload can accelerate approval tremendously.

Drawbacks to Consider

Interest rates and final loan terms aren’t disclosed upfront; approval and rate offers depend on each applicant’s risk assessment.

Support document upload, though optional, is practically necessary for the fastest processing—applicants who delay can experience slower approvals.

Our Independent Verdict

Old Mutual Personal Loans offer a reliable and flexible financing option for most South Africans. The focus on ease of application and fast processing makes it an appealing choice.

While rates are individualised, those who meet basic requirements will benefit from a smooth, established process and high probability of quick approval, supported by years of financial expertise.