What are the Old Mutual loan requirements? Who qualifies for an Old Mutual loan? It’s information that a lot of people in South Africa have been looking to get. Old Mutual is one of the all round financial services companies in the country. Their influence spans from banking to insurance and investments. You are here because you wish to get a loan from Old Mutual. You are wondering whether or not you qualify. What do you need to get a loan from the company?
What do I need to get an Old Mutual loan
The following are the Old Mutual loan requirements for South Africa;
- You need to have a valid South African ID card or book.
- You need to earn over R2500 per month.
- Only people between the ages of 18 and 60 can apply for Old Mutual loans.
- Also required is a current payslip.
- Bank statements going back 3 months. This should reflect pay deposits into your account.
Who qualifies for an Old Mutual loan
Those are the Old Mutual loan requirements. In general, these requirements are similar to what you will get from any other financial institution in South Africa. But can anyone get a loan from Old Mutual?
We have already highlighted this in the above requirements. You need to be between the ages of 60 and 18 to get a loan from Old Mutual. You also need to be gainfully employed and earning over R250000 per month.
You also need to be a South African citizen with an ID document to prove the fact. You also need to have a good credit record to get a loan. Old Mutual is reluctant to give loans to people who have never borrowed from anyone. However, they are willing to each case on an individual basis.
In this article we gave you the Old Mutual loan requirements. We noted that Old Mutual is a big player in South Africa’s finance sector. They offer a range of services including loans.
To get a loan from the company, there are a number of requirements that you will need to meet. However, these requirements are similar to what you will get from any other financial institution in the country.