Old Mutual — Financial Freedom of Choice

Old Mutual is a South African financial institution that has committed itself to providing convenient personal loans. Established in 1845, Old mutual is an international investment, savings, insurance and banking group. Its business bouquet can be broken down into personal, business, corporate investment solutions, unit trusts, retirement funds, risk cover and financial services.

Old Mutual has also committed itself to providing personal loans and debt consolidation products that enable the responsible use of credit as part of a structured financial plan.These loans are made to suit each individuals financial needs, helping them to achieve financial freedom and escape the trap of bad debt. Closely tied to personal loans is the My Money Plan which allows you to consolidate debt, combine it into one plan and pay a lower instalment. It also helps you reduce your finance charges and increase your available cash.

Under my money plan, you qualify for a consolidation loan of up to R150,000 with repayment terms running between 1 to 60 months, fixed interest rate at the time of the application and you need to be employed for at least 12 months at your current job, the interest rate applied will be determined by your credit score and only individuals can apply for a consolidation loan.

To qualify for my money plan, you need to be 18 years of age, the term of your my money plan agreement must cease prior to age 60 with a minimum term of 12 months, you need to be a resident of South Africa, have a valid South African ID document, provide a current payslip no older than 1 month and you need to provide consecutive bank statements for the last 3 months.

The personal loan gives you complete freedom of choice if you want to renovate your home, buy a new car, pay for unforeseen medical expenses or even buy a flat screen TV.The minimum loan term is 3 months and the maximum loan term is 48 months.This facility offers you cash up to R100,000 with fixed rate at the time of the personal loan application.You also need to be employed for at least 3 months with the same employer.

Old Mutual can be contacted on 0860000886.