Old Mutual My Money plan loan – Trusted and tested financial institution not only in South Africa but beyond in other countries in Sub-Saharan Africa. Old Mutual for years now has been at the fore of providing financial products and solutions not only to individuals but to institutions as well. In order to live up to this promise of meeting clients needs, Old Mutual introduced the money plan.
The money plan is one of Old Mutuals leading financial solutions which allows clients to combine different streams of debt into one plan. The benefits of doing this are that a client reduces the finance charges while at the same time increasing the available disposable income as this plan also gives cash payouts when a client needs it.
Old Mutuals My Money plan allows individual clients to apply for a consolidation loan up to an amount of R120000 with flexible repayment periods of between 1 month to 60 months. While the interest rates under this plan are fixed at the time of application, clients should however note that the interest rate applied will be determined by a client’s credit score.
The money plan is a flexible credit platform but it certainly has certain requirements that clients must meet to qualify. To be eligible for this plan, a prospective client needs to have been employed in a particular job for at least 12 months and show proof of a payslip which shouldn’t be older than 1 month, be 18 years of age, be a resident of South Africa with a valid South African ID document, a client should also provide consecutive bank statements for the last 3 months. Clients should also remember that this credit plan must cease prior to the age of 60 with a minimum term of 12 months also applying. Clients under this plan are also required to speak to Old Mutual should they decide to approach other lenders or change bank accounts.
With this money plan, Old Mutuals steady position in the financial industry as a leader has just been reaffirmed. Prospective clients can contact Old Mutual on 0860000886 and trained consultants will be on hand to assist.