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Who qualifies for Old Mutual Consolidation Loans? As Old Mutual is quite a reputed entity, they ensure that every applicant qualifies to receive the cash borrowed. However, if you still don’t know who qualify for Old Mutual Consolidation Loans, let us see what supporting documents you have to present to show that you qualify for a loan:
There are some specific documents required before receiving an old mutual consolidation loan. However, it is not mandatory to present all the necessary documents. What is required are some crucial requirements which are necessary to obtain an old mutual consolidation loan.
How do you show that you qualify for Old Mutual Consolidation Loans? The https://loanonlines.co.za/instant-loans basic requirement is your credit score. The score is measured over the past three months and this is determined by the Annual Credit Report (ACR). For this, you have to submit three sets of your credit reports: the credit report with collection agencies on credit card, loan, mortgages, etc; your bank statement; and a current loan and income statement, along with your social security number. Besides, you also have to furnish a tax return filing statement, and two recent pay slips. If you have been turned down in the past, or if you don’t qualify because your credit score is too low, then you can still get an old mutual consolidation loan.
Are you going for such kind of loans only for a short duration? Old Mutual will only consider you as the principal loan amount borrower if you have a decent credit score. If not, then you will be considered as a contingent loan buyer. Thus, all the loans processed here will be based on your loan term, whether temporary or permanent, unless you pay your installment in time, which will make you eligible for a standard loan terms.
Are you looking for an Old Mutual Consolidation Loan with bad credit rating? Then you have come to the right place. In spite of having a bad credit score, you can still apply for personal loans at nominal rates. This is because these loans are unsecured in nature. Hence, they are suitable for borrowers who are reluctant to put their valuable assets as collateral. However, it is always better to go for secured loans as it is preferred in case of failing economic conditions.
This is because such private sources know the exact loan rates applicable to you and thus help you in finding the right loan deal. They also provide you information about the approval processes that are involved in certain types of personal loans. Therefore, if you do not want to waste your time applying for personal loans at exorbitant rates, then you should opt for these sources.
There are many advantages associated with opting for Old Mutual Consolidation Loans in south Africa. Most of the personal loans available in the market have high interest rates. This is because they are backed up by credit cards or other forms of credit. Hence, the high interest rate becomes a burden for people who cannot pay the high interest on the regular basis. On the other hand, Old Mutual Loan is a secured loan option. Therefore, your interest rate is fixed and hence you are spared from paying hefty interest.
Besides this, the loans in south Africa are easily approved, if you have a good credit rating. Moreover, there is no credit check procedure involved in the case of these loans. So if you want to opt for the best loan option available in the market without any hassles and complications, then you should go for Old Mutual Consolidation Loans in south Africa. Hence, make Old Mutual a part of your top choices for obtaining personal loans in the market.