Important disclosure

Old Mutual Personal Loan Calculator & Product Overview

Old Mutual is a premium African financial services group that offers a broad spectrum of solutions to retail and corporate customers across key markets in 14 countries.

Get an Old Mutual personal loan tailored to your individual needs, and make your dreams a reality today.

To help you decide on the best loan option and lender, we have created an easy to use loan calculator that will help you calculate your likely monthly payment. Once you input the loan amount, simply adjust the filter to a desired loan term and then click calculate.

Calculate repayments

Loan Amount



3 months

Old Mutual

Old Mutual Personal Loans - R10,000 - R30,000

Estimated Month Repayments
Interest Rate
Repayment Period
12 months
to 60 months
Loan Amounts
to R29,999
Make your dream real. Apply for a personal loan in less than 10 minutes. Options to Consolidate your loans. Create one loan with one monthly repayment. Flexible repayment options. Specify your repayment period and amount according to your needs. Fast pay outs. A lump sum deposited into your account. provides factual information in relation to financial products. While attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see's Terms of Use.

Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

About Old Mutual personal loans in South Africa

Old Mutual is a strong and trusted name in the South African world of finance. If you’re looking for an Old Mutual personal loan in particular, then we have something for you here at CompareLoans. We have gathered the necessary information about Old Mutual loans and put it all in one place for your convenience.

Do you need an Old Mutual personal loan?

There are a lot of reasons why one might end up needing some extra money. If you’re faced with the following situations, borrowing might be a good idea:

  • You want to pay for an essential item, such as an outstanding bill. Other times, you may also wish to use the money to cover an emergency, travel, family support, or other crucial personal business.
  • Your debt needs to be consolidated so you can manage your monthly repayments at a lower cost.
  • There are no savings available to cover the above-mentioned expenses.
  • The amount is used for an investment that produces profitable rewards, for example, education or new equipment.

Even if you have any other unique situation that requires you to borrow money, Old Mutual finance has terms that are tailored to suit your individual needs and capacity.

What are the common features of Old Mutual personal loans?

  • A 3 month credit is available for amounts between R500 and R5000.
  • 6 month finance is also available for sums between R500 and R8000.
  • You can also get a 12-month loan, which is available between R500 and R20 000.
  • 13-60 month credit is available for amounts that range from R3000 to R175 000.
  • For a term between 60 and 84 months, you can borrow up to R200 000.
  • Interest rate is fixed, and the maximum interest rate is 26.25%.
  • Charges include an initiation and a monthly service fee.
  • You can use the money for most general purposes. However, the Old Mutual personal loan is only available to individuals, not businesses.

How does the Old Mutual lending process work?

Old Mutual understands that our situations are all different. When they receive your application, they take the time to look at:

  • What you can afford – They follow National Credit Act guidelines to help you borrow responsibly. That means they use the information on your Credit Bureau Report and Personal Risk profile to determine the amount of debt you can afford.
  • How much you understand – Sometimes it is tricky to make sense of all the financial terms involved when you borrow. Old Mutual will try and make all the information you should know as clear as possible. This includes knowing the total cost of the finance solution you choose.
  • What your needs are – Basically, the bank only approves your application if it suits your needs and circumstances.

For terms above 12 months, you also have to apply for Credit Life Insurance

For this, Old Mutual has a policy with their insurance company OMART. The credit life premium is paid per month, and its cost depends on how much you borrow. The insurance will take over your payments if you die, become disabled, or are retrenched.

However, there are conditions attached to this. For example, you’ll not be covered if you commit suicide. You can also choose your own policy provided that it offers the same level of protection required by Old Mutual.

The following is an example of the overall fees associated with an Old Mutual personal loan:

Say you are borrowing R50 000 for 36 months (3 years), then:

  • The monthly service fee is set at R69.00;
  • There is also an initiation fee of R1207.50;
  • An interest rate of 24.75% is charged;
  • Plus, credit life insurance that is between R151.06 and R230.43; and
  • You will thus be required to pay a monthly instalment of R2 049.74.

Please note that this example is based on an estimate. Your interest rate, repayment term and amount might vary depending on your credit score.

Calculate your monthly repayment with our online calculator

Before applying for Old Mutual online loans, you should take the time to use the calculator on this page. It will help you to understand the terms better and assist you with your monthly budget. On the calculator, all you have to do is:

  • select the amount;
  • choose a term; and
  • click “Calculate Repayment”

The calculator will then give you the estimated amount of money that the bank will require you to pay monthly. If you are comfortable with the monthly repayment amount and you know you can afford it, you can proceed and apply for the credit.

What documents are needed when applying for an Old Mutual personal loan?

  • A government-issued valid South African ID;
  • Your most recent and current payslip which is not older than one month; and
  • Latest 3 months bank statements. The statements should show your salary deposits for the 3 months.

What else do you need to qualify for an Old Mutual personal loan?

  • You should be 18 years old or more;
  • Minimum monthly salary should be at least R2 500;
  • You should be able to finish paying off your debt before you reach an age that is over 60 years;
  • For a 3-12 month credit, you should have been permanently employed by the same employer for longer than 3 months; and
  • If you want a 12-84 month, you should have been permanently employed by the same employer for 12 months or more.

The Old Mutual loan process: How to apply

You can make an Old Mutual loan application over the phone or by visiting the nearest branch. However, we you a more convenient way to access Old Mutual finance; apply online by clicking the “Go to Site” button located in the comparison tables above.

This directs you to the Old Mutual application page. When you’re on the page, select the apply option, and fill out the online application form. You will then email or fax your supporting documents. After that, all you have to do is wait for a response.

How long does it take to get your loan?

When you apply online, you can easily finish the application process within minutes. Make sure that you qualify by double-checking the requirements. Also, check if you have uploaded and submitted all supporting documents.

Old Mutual will make the transfer into your bank account in the next 24 hours if everything is in place. When you receive your money, you will also receive an SMS to let you know of your its approval.

How do you make repayments for your Old Mutual loan?

The bank makes your repayments easier with their DebiCheck facility. Compared to other debit order systems, DebiCheck is a more safe and secure way of collecting repayments. When you sign the agreement, you also give the bank permission to deduct payments from your account.

When the due date has arrived, you’ll have to confirm the debit order via your mobile phone, bank ATM, or internet banking platform. Your bank will do a check to make sure everything is in place before processing the debit order.

Can you apply for a credit with Old Mutual as a first-time borrower?

Your credit history shows important details about the credits you contracted in the past. A good credit history gives proof that you are reliable when it comes to paying off your debt. If you have never borrowed before, Old Mutual has no way of knowing your creditworthiness. Having said that, it does not mean they will refuse to lend you money if you borrow for the first time.

They usually rely on your past credit record when reviewing your application. Therefore, as a first-time borrower, you may not be approved. If the bank approves your finance, you’ll only be allowed to borrow a small amount. However, you can apply for more once you have a longer credit history.

Advantages of the Old Mutual personal loan

  • Flexible amounts: you can borrow a minimum of R500 and a maximum of R200 000 depending on your needs.
  • Affordable payment terms: you can pay back your debt over a period of up to 84 months, which gives you affordable monthly payments.
  • Fixed monthly instalments: find out how much you will be paying back monthly with our tool at the top of this page.
  • Reputable lender: Old Mutual is a fully registered financial services provider and a reliable institution in South Africa. When you choose this bank as your lender, you can rest assured that you’re in safe hands.

What other finance is offered by Old Mutual?

  • Old Mutual student loans – Although you can use an Old Mutual personal loan to pay for your education, there is something extra for students in the Accounting and Actuary departments. If your grades are exceptional, you can apply for a bursary that will cover most costs required to study at top South African universities.
  • Old Mutual short term loans – With their 3 month, 6 month, and 12 month loans, you can borrow up to R20 000. This short term credit gives you a smaller amount that should be paid off within a year.
  • Old Mutual consolidation loans – If you have many debts, you can apply for an Old Mutual debt consolidation. You’ll then use the money to pay off your debts, which leaves you with one monthly repayment, a single admin fee, and a longer term that offers lower monthly instalments and peace of mind. Find out more about debt consolidation.

Old Mutual loans contact

You can reach the Old Mutual team in charge of loans on these toll free numbers: 0860 445 445 / 0860 222 252

About Old Mutual money app

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