Old Mutual Money Plan Loan is one of the flagship products offered by Old Mutual that allows you to consolidate all your existing debts into one debt. A lot of people unconsciously take a lot of smaller multiple loans and after a while end up having problems in managing them, and often results in bad credit records or even a blacklisting status. This is when a good money management plan and a debt consolidation loan is needed to help you manage your debt and stay afloat with your credit.
The Old Mutual Money Plan Loan allows you to significantly reduce your loan interest rates and increase your available cash as opposed to managing multiple smaller debts. Since its establishment in 1845 Old Mutual Finance has striven to provide credit seekers with tailor made solutions that are structured around their financial situation and needs, and currently has over 16 million customers.
How does the Old Mutual Money Plan Loan work?
Old Mutual essentially pays out a lump sum to you which you will use to pay all your smaller and multiple debts and clear them all, after which you will only remain with one loan which is the Old Mutual Money Plan Loan. This arrangement helps you in managing your finances and still benefit from the lower interest rates because you are only paying for one loan.
With the Old Mutual Money Plan Loan you will be able to consolidate your debts with a loan of up to R150 000 which comes with flexible repayment terms of up to 60 months. The loan has fixed interest meaning you get to know exactly how much you will repay back every month and is not affected by market rates which can fluctuate and the interest rate is determined by your credit score. The higher your credit score the lower you pay for interest.
Old Mutual Money Plan Loan Requirements
In order to successfully qualify for the Old Mutual Money Plan Loan you will need to be at least above the age of 18 years and permanently employed for no less than 12 months, be a resident of South Africa with a valid South African ID, must provide recent pay slip not older than one month, provide 3 months bank statements and proof of residence not older than 3 months.
Old Mutual Money Plan Loan Contact Details
Speak to their consultants on 0860 000 886 and they will gladly assist you with more detailed information about the Old Mutual Money Plan Loan. You can also visit their website www.oldmutual.co.za and find more information there.
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