Turn your asset into credit with terms that truly fit your budget!

A secured loan is a type of credit where you offer an asset as collateral to receive better repayment conditions.

With that guarantee, it becomes possible to get higher amounts, longer terms, and significantly lower interest rates compared to traditional loans.

This option is ideal for those who want responsible borrowing and wish to avoid putting too much pressure on their monthly budget over time.

Looking for more freedom to make your plans happen while paying less? Discover the Old Mutual secured loan and see how it can help.

Get to Know the Old Mutual Secured Loan: Credit with Lower Rates and Flexible Terms

The Old Mutual secured loan is offered by one of Africa’s most solid and trusted financial groups, with over 175 years of experience.

Old Mutual allows you to request significant amounts, up to R300,000, with reduced interest and flexible terms that align with your financial planning.

You can use an asset, such as a house or a car, as collateral, providing the bank with more security and gaining access to far more affordable terms.

Many people turn to this type of loan to pay off expensive debts, invest in their dreams, or simply breathe easier with installments that fit their budget.

Main Benefits of the Old Mutual Secured Loan

The Old Mutual secured loan is the right choice for anyone who wants more accessible, practical credit that truly makes life easier.

With benefits that go beyond lower interest rates, it offers freedom, speed, and peace of mind, allowing you to turn plans into reality with full control.

Reduced Interest Rates

When you offer an asset as collateral, the bank faces less risk in case the loan isn’t repaid as agreed.

That’s why it can offer significantly lower interest rates than a standard personal loan, which typically requires collateral.

In practice, this means lower monthly payments, helping you stay on track financially and avoid future debt.

The Old Mutual secured loan allows you to save significantly in the long run, as you pay less for the same borrowed amount.

Higher Loan Amounts Available

With an asset as security, the bank feels more confident and can release larger amounts of credit for you to use as needed.

Old Mutual offers loans of up to R300,000, depending on the value of the asset provided and your monthly repayment ability.

That higher amount is ideal for large projects, such as paying off all debts, renovating your home, or investing in education.

In other words, you gain more freedom and decision-making power to use the credit where it matters most in your life.

Flexible Repayment Terms

Besides high loan values, another key benefit is the ability to choose a longer repayment term, which eases the impact on your budget.

At Old Mutual, you can repay your loan in up to 84 months, adjusting the installments to what you can truly afford.

This is excellent for those who want peace of mind and don’t want to overload their income with heavy payments.

More time to pay means more breathing room day to day and a lower chance of getting behind on other bills.

Debt Consolidation Possibility

If you have several scattered debts (credit cards, store accounts, loans), it can be challenging to keep track, and you’re likely paying high interest.

With this loan, you can consolidate all your debts into one, with lower interest rates and a single, organized monthly payment.

This consolidation makes your life easier: fewer bills, fewer fees, and better clarity about how much you still owe.

Additionally, this solution may help clear your name more quickly and reorganize your finances with less pressure.

Fast Approval and Simple Process

Tired of red tape? No worries here: the process is straightforward, fast, and you’ll have support every step of the way.

You can apply online, by phone, or in person, with just a few documents and guidance throughout the entire process.

If everything checks out, approval can happen within 72 hours, and the amount is deposited straight into your account.

That speed makes a significant difference when you need to solve something urgently or capitalize on a good opportunity.

More Accessible for Clients with Poor Credit History

Many people who’ve had credit problems believe they’ll never get a loan again. But that’s not always true.

When you offer an asset as security, the bank assesses risk differently and may accept applicants with lower credit scores.

What matters is proving you have a source of income and an asset that can be used as collateral for the loan.

The Old Mutual secured loan could be your chance to start over with more control, confidence, and fair conditions.

Specialized Support and Exclusive Perks

You’re not alone during the process: the Old Mutual team provides close, clear support focused on your reality.

They explain each detail, help with decisions, and answer questions before, during, and after the loan process.

Plus, those who take out the Old Mutual secured loan may receive exclusive perks, such as discounts on insurance or other financial services.

It’s more than just a loan: it’s a full service designed to support you and your goals with real attention.

Eligibility Requirements to Apply for the Old Mutual Secured Loan

To apply for an Old Mutual secured loan, you must be over 18, live in South Africa, and provide a valid ID.

You also need to prove a steady source of income, whether as an employee, self-employed individual, or pensioner, to demonstrate that you can afford the installments.

Another essential requirement is owning an asset in your name, such as a paid-off car or property, which will be used as collateral.

Meeting these basic criteria, you’re ready to take the next step and apply for your Old Mutual secured loan with confidence and peace of mind.

Step-by-Step Guide to Apply for the Old Mutual Secured Loan

Applying for your Old Mutual secured loan is quick and simple, and you can complete the process in just a few steps with the necessary documents ready.

1. Gather your basic documents: Have your ID, a recent proof of residence, bank statements, and proof of income from the last three months.
2. Present your collateral asset: You can use a paid-off car or property in your name. The higher the value, the higher your approved loan can be.
3. Run a simulation and apply: Go to the Old Mutual website, use the loan simulator, and submit your application with your personal and asset information.
4. Wait for review and receive your funds: The team will analyze your credit, and if approved, the funds will be deposited into your account within 72 business hours.

With this step-by-step process, you can apply for your loan quickly and safely, without hassle and with full Old Mutual support.

Applicable Fees for the Old Mutual Secured Loan

The Old Mutual secured loan comes with great terms, but like any loan, it also has specific fees you should understand before signing.

Knowing each type of fee helps you plan your payments better and avoid surprises throughout the loan term.

Interest Rate

The interest rate is the additional amount you pay to borrow money, and it’s the primary cost of your loan.

With the Old Mutual secured loan, rates range from 12% to 28% per year, always with a fixed rate set at the start of the contract.

That means your monthly payment stays the same until the end, with no unexpected changes or mid-term adjustments.

The exact rate depends on the amount borrowed, the value of the asset provided, and your financial profile at the time of application.

Initiation Fee

The initiation fee is a one-time charge at the beginning of the loan to cover administrative processing costs.

Its value is calculated based on South African legislation and can reach up to R1,207.50 depending on the loan amount.

This fee may be deducted from the loan amount or added to the total loan balance, depending on available options.

You’ll know the exact cost during the simulation, with full transparency and no hidden fees.

Monthly Service Fee

This is a fixed monthly fee for contract management and service, including support throughout the loan term.

At Old Mutual, this fee is R69 per month and is already included in your total monthly installment.

It ensures you get continuous access to service channels, financial support, and account management whenever needed.

It’s a standard fee for regulated loans and will be clearly stated in your contract before you sign, with no surprises.

Late Payment Penalties and Optional Insurance Coverage

If there’s a late payment, a fixed penalty of around R50 is applied, plus daily interest on the overdue amount.

These charges comply with legal guidelines and are outlined in the contract, so you’ll know exactly how a delay could impact your finances.

For contracts over 12 months, a protection insurance policy is required. It covers death, permanent disability, and even involuntary unemployment for a time.

This insurance is calculated based on the loan amount and can be arranged through Old Mutual or an equivalent policy you provide.

Conclusion

The Old Mutual secured loan is a smart option for anyone seeking credit with greater peace of mind, security, and control over their payments.

With fair rates, flexible terms, and large amounts available, it adjusts to different moments in your life without straining your budget.

Plus, the fast approval and supportive service make a big difference when making such an important decision.

Did this sound right for you? Would you like to explore other reliable and affordable alternatives? Check out the article below about the Arcadia Finance quick loan and learn more!