Old Mutual Personal Loan

Old Mutual provides personal loans ranging from R2,000 to R250,000 with repayment terms from 3 to 72 months. This flexibility allows borrowers to choose a plan that best fits their financial situation. The APR ranges from 15% to 28%, making it a reasonable option for those with good credit scores.

Our editorial team appreciates the transparent approach Old Mutual takes regarding loan costs. They clearly outline how fees and interest rates work, helping borrowers understand their total financial obligations. However, the initiation fee of R649.75 can be a drawback for those looking for low upfront costs.

It's important to note that all unsecured loans are subject to affordability assessments, which is a responsible measure to prevent over-borrowing. This means that those with lower credit scores may face challenges in qualifying for the upper limits of loan amounts or may receive higher interest rates.

Overall, while Old Mutual Personal Loans are a solid choice for those in need of larger sums or longer repayment periods, borrowers with poor credit may want to explore other options that cater specifically to their needs. For more details, visit Old Mutual's official page.