What is a personal loan?
- You can apply online, over the phone or in branch
- Pay back the money with repayment periods of up to 84 months
- Once approved, you get the money in your account almost immediately
- Up your credit score when you pay back your loan on time
- Consolidate all your debt into one loan
‘Adulting’ is just a fancy word for ‘bills’. If you’ve got a few loans to pay off, you’re not alone. The good news is that you can pull all your debt into a single loan with an Old Mutual Debt Consolidation Loan. Here’s how it helps:
Combine all your loans and pay a single admin fee
Struggling to keep up with repayments? Extend your loan term and lower your monthly installments. Extending your term also mean that you will pay more interests and fees accrued over the life of the loan
Sleep easy knowing you just have one loan to keep track of
What do I need to apply for a loan?
Good question. Make sure you have the following handy:
- A valid ID or passport
- 3 months’ bank statements
- Your most recent payslip
- Proof of address
- Be 18 years or older
How do personal loans affect my credit score?
Credit bureaus see regular loan repayments as a sign that you’re a trustworthy borrower. And a personal loan can improve your credit score if you keep up with repayments.