Old Mutual Debt Consolidation with My Money Plan allows you to consolidate your debt, combining it into one plan so that you pay a lower overall instalment. This allows you to reduce your finance charges and increase your available cash, as My Money Plan also provides you with regular cash payouts when you need them most.
HOW OLD MUTUAL DENT CONSOLIDATION WORKS
- Qualify for a consolidation loan of up to R150 000.
- Minimum term of 1 month.
- Maximum term of 60 months.
- Fixed interest rate at the time of the application.
- You need to have been employed for at least 12 months at your current job.
- The interest rate applied will be determined by your credit score.
- Only individuals can apply for a consolidation loan.
- To apply for My Money Plan you have to be 18 years of age.
- The term of your My Money Plan agreement must cease prior to age 60 with a minimum term of 12 months.
- You need to be a resident of South Africa.
- You must have a valid South African ID document (Green, bar coded, 13 digit).
- You must provide a current payslip no older than 1 month.
- You need to provide consecutive bank statements for the last 3 months.
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