My Money Plan
Old Mutual offers you a My Money Plan allowing you to take one or a combination of personal loans to suit your financial needs.
Perhaps you want to;
- Pay school fees or buy school uniforms.
- Pay for unexpected medical or family expenses.
- Enrol for a degree or diploma.
- Consolidate your debt
The choice is yours.
You can Apply Online, over the telephone (0860 000 886) or visit your nearest branch.
- What you will like about my Money Plan
- WHAT WE NEED FROM YOU
WHAT YOU WILL LIKE ABOUT MY MONEY PLAN:
- We offer a variety of personal loans up to R175 000, which can be paid up to a period of 60 months.
- We also offer smaller personal loans with loan terms ranging between 3, 6 and 12 months.
- Your interest rate is based on your personal credit profile and fixed at the time of your application.
Note: You may be required to take Credit Life Insurance that covers instalments in the event of your death, disability or retrenchment. Subject to Terms and Conditions.
WHAT DO YOU NEED TO APPLY FOR MY MONEY PLAN:
- Your current payslip not older than 1 month.
- Your most recent consecutive bank statements for the last 3 months.
- Proof of residence not older than 3 months. This can be any household utility account in your name, e.g. electricity, water, Telkom etc. or a bank, or credit card statement that has your name and current residential address on it.
- A valid South African ID document (Green, bar coded 13 digits Identity Document or ID Smart Card or valid South African passport).
- You need to be employed for at least the last 3 months at the same employer (for loans 3, 6, 12 months) and 12 months at the same employer (for loans 12 to 60 months).
- Credit Life Insurance is only applicable on personal loans with a term of 12 months and more.
Payment options range from 3 to 60 months. Min APR from 19,7% to Max APR of 72%.
*Representative example: Credit of R5,000 borrowed for 3 months. Monthly interest: R21 (reducing monthly). Once-off Initiation fee: R644. Monthly admin fee R68. Representative APR 72%. Total amount payable: R5,908.