Does Old Mutual Provide Personal Loans? What Is The Eligibility Criteria Set For This Loan? Requirements And Contact Details
When it comes to deciding and choosing a lending product, personal loans are generally one of the loan options frequently taken by most people. The reason behind this choice is unknown, but one may think that it is mainly due to its nature and the myriad uses that personal loans can have. Normally, customers turn to personal loans because they know that they can use the funds either for education purposes, for covering holiday expenses or for consolidating large debts. If you already have found a financial institution that can assist you during the loan process, but you want to explore other options in order to establish comparisons as regards loan amounts, costs and even interest rates, I will refer herein to a company named Old Mutual, which operates in various locations all over the world, including the territory of South Africa. So, if you are interested in getting to know a little bit about the advantages and most distinctive features that are part of Old Mutual vision and core values, just take some minutes and be ready to take down notes on everything that may be on your interest.
As I said before, this article will focus on presenting relevant details of Old Mutual Personal Loans.
The company’s main office is located in Johannesburg, but that is not the only office you will find across South Africa. In every Old Mutual branch, you will find advisors ready to help you in a language that is comfortable to you, so if English is not your first language and you are afraid of being misunderstood, don’t worry, because you will be able to communicate in your native language in a clear and successful way.
Let’s continue discussing some key ideas of this article by bringing together some accurate data in a useful chart:
Type of Loan Personal Loan
Loan Term Up to 7 years
Loan Amount From R5 000 to R200 000.
Requirements ID, payslip, account statement and evidence of residency
Phone Number 0860 000 886 (sales call centre)
Call Centre Working hours Weekdays from 8 am to 5 pm Saturdays from 8 am to 1 pm On Sundays offices are closed
Financing Is Based on Three Concepts:
*Old Mutual takes into account your rates in order to determine how much money you are able to get when applying for a loan. Besides, if the company sees that your rating is not so good, they give you pieces of advice so that you can improve affordability by understanding how financing works.
*Old Mutual consultants focus on providing you the tools you may need to comprehend how loans work and the financial implications that loans carry with them. In doing so, they take the time to fully answer your questions and explain to you whatever you need to know.
Find the best loan of South Africa
*Although Old Mutual wants you to get the funds as soon as possible because they know that you need the money, for them it is of paramount importance to understand your circumstances and, consequently, find solutions that meet your current expectations and needs.
What information should I have to provide in Old Mutual loan process?
The moment you apply, you are asked for some contact information and your national identity number so that an advisor can begin the application process. After that, Old Mutual will look into your credit history and will ask you for supporting documentation that can be sent to the email address of the company or via fax. In addition, the application process can be carried out online, personally or over the phone.
You also have the chance to download the application forms from Old Mutual’s website and complete them from the commodity of your house.
What are the features of Old Mutual application form?
The questionnaire you have to fill in if you are applying for a personal loan is available online. It is quite simple to understand but be careful and read it as many times as you need because you are not required to complete the whole document but only the items specified at the beginning of this form.
Old Mutual Loan Calculator
This is another service you will find available among Old Mutual online services. The loan calculator is, in fact, quite interactive and really easy to be used. First, you have to select the loan amount you want to get, from out of nine options with loan amounts that range from R 2000 up to R10 000. Second, you have to select the loan term. Once again, you have options that range from 3 up to 84 months. Loan terms between 3 to 6 months are available for loan amounts of R 500 and R 5 000 only. After that, you can complete a quick form in which you accept that Old Mutual review your credit standing. This will help them check if you are able to afford the loan and your ability to repay it. After that, the customer service will contact you soon.
Old Mutual: Other Useful Services
Old Mutual services should not be limited only to lending products because there are many more services offered by this company. You can find, for example, banking accounts where money can be kept in a secure and safe place, and insurance plans, through which you can get financial protection to overcome life challenges. Furthermore, there are some educational articles that can serve as a guide for you to have and idea if this is the right moment to take out a loan, the importance of having good credit rates, how to choose financial lending from a reliable institution and the importance of your ability to repay. At first sight, these topics seem irrelevant but once you read them, you will notice that Old Mutual selected some key points that are essential for you to know and that you cannot miss.
Finally, I hope that everything you have read herein contributed to helping you learn about the services available in a company with such characteristics as Old Mutual. If you need extra cash, you should definitely take a chance on this company. Its transparency and respect towards their customers’ circumstances distinguishes it from other institutions, you won’t regret it!
Questions and answers
What are the characteristics of the rates set for personal loans?
Rates are fixed when you fill in your application form. Later on, rates are determined on the profile of your credit.
Can enterprises apply for personal loans?
No, they can't. Only individuals are allowed to have access to personal loans.
Are there any fees to be paid?
Yes. There is a Monthly Service Fee applied to every loan account.