Old Mutual Bank

The Old Mutual Money Account is more than just a regular bank account—it gives you two accounts in one. It features a SWIPE Account for everyday transactions and a SAVE Account to grow your savings. This dual-structure system makes it easy to manage your spending and savings all in one place.

  • SWIPE Account: Perfect for everyday transactions like purchasing in-store or online, paying for services like DSTV, buying prepaid airtime, or even sending money to other Money Account holders via the QuickPay feature.
  • SAVE Account: A dedicated account where you can stash your money and watch it grow over time with competitive interest rates. This separation ensures that you are disciplined in managing your savings without dipping into funds meant for daily expenses.

Key Features of the Old Mutual Money Account

  • Send Money: Conveniently send money to friends and family, even if they don’t bank with Old Mutual.
  • Prepaid Airtime & Utilities: You can purchase prepaid airtime, data, and electricity straight from your Money Account, simplifying your day-to-day needs.
  • DSTV Payments: Seamlessly pay your DSTV bill through the app, removing the hassle of missed payments.
  • Salary & Debit Order Switching: Easily switch your salary and debit orders to your Old Mutual Money Account using the online switching service. The process is quick and can be done from the comfort of your home.

How to Fund Your Old Mutual Money Account

Funding your Money Account is flexible, with several deposit options available:

  1. Salary Deposits: Have your salary paid directly into your account.
  2. Card or Cash Deposits: Deposit funds at select retailer stores.
  3. In-App Payments: Use a bank card to make in-app payments.
  4. In-Branch Deposits: Deposit funds using your card at an Old Mutual branch.
  5. Bank Transfers: Transfer money from another account to your Money Account.

How Does Old Mutual Bank Work?

While Old Mutual Bank does not exist in the traditional sense, its Money Account is offered in association with Bidvest Bank. This means that when you open an Old Mutual Money Account, you are essentially banking under Bidvest Bank, a licensed South African bank.

Benefits of the Old Mutual Money Account

  • Dual Account Feature: Two accounts in one, offering flexibility between spending and saving.
  • Easy Salary and Debit Order Switching: Simplifies the process of migrating your financial obligations.
  • Low Transaction Fees: Competitive transaction fees, which make everyday banking affordable.
  • Comprehensive App: Manage your money on the go with the Old Mutual Money Account app, which offers easy access to banking, payments, and transfers.

How to Open an Old Mutual Money Account

Opening an account is easy and can be done online through the Old Mutual website or by visiting a branch. The process is designed to be user-friendly, and once opened, you’ll have access to a powerful and flexible account that meets both your spending and saving needs.

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Complete Guide to NSFAS Online Loan Application for South African Students (2025)

If you are a South African student looking to pursue higher education but are facing financial difficulties, the National Student Financial Aid Scheme (NSFAS) is one of the most accessible funding options available. NSFAS provides financial aid in the form of bursaries and loans to qualifying students at public universities and TVET colleges in South Africa.

This guide will walk you through everything you need to know about the NSFAS loan application process, from eligibility requirements to application steps and frequently asked questions.

📌 What is NSFAS?

The National Student Financial Aid Scheme (NSFAS) is a government-funded financial aid scheme aimed at helping students from low- and middle-income households to access tertiary education without the burden of upfront fees.

NSFAS offers both bursaries and income-contingent loans:

  • Bursaries: For eligible students who meet academic and household income criteria (especially for TVET and university students).
  • Loans: For students who do not meet all bursary criteria or who are pursuing postgraduate qualifications not funded under bursary schemes.

✅ Who Qualifies for an NSFAS Loan?

To qualify for an NSFAS loan (especially for postgraduate students or programs not funded under the bursary system), you must:

  • Be a South African citizen.
  • Be financially needy, with a household income of less than R350,000 per year.
  • Have a valid South African ID.
  • Be enrolled or accepted to study at a public university or TVET college.
  • Not be funded through another bursary program that covers all expenses.
  • Maintain satisfactory academic progress (returning students).

📚 Courses Funded by NSFAS

NSFAS primarily funds undergraduate qualifications, but certain postgraduate programs (e.g., PGCE, postgraduate diplomas in education, and professional courses like LLB) may be considered under the NSFAS loan scheme, not bursaries.

If you’re studying:

  • Undergraduate degree or diploma: You are likely eligible for a full NSFAS bursary.
  • Postgraduate study: You may qualify for a loan, depending on the course and funding availability.

📄 Required Documents for NSFAS Application

When applying, make sure you have the following documents scanned and ready:

  1. Certified copy of your South African ID or Smart Card.
  2. Parent(s) or guardian(s) ID documents.
  3. Proof of income (latest payslips, UIF, or affidavit if unemployed).
  4. Consent Form signed by your parent(s)/guardian(s) to allow NSFAS to verify income.
  5. Proof of registration or acceptance at a public institution.
  6. Academic transcripts (for continuing or postgraduate students).

🖥️ How to Apply for an NSFAS Loan Online

Step-by-Step NSFAS Online Application Process (2025)

  1. Visit the NSFAS Website

    Go to: https://www.nsfas.org.za

  2. Create an Account

    • Click on “MyNSFAS” and register your profile.
    • You’ll need a valid email address and South African cellphone number.
    • Choose a strong password and verify your account via email or SMS.

  3. Login and Start the Application

    • After registration, log in to your MyNSFAS account.
    • Click on “Apply” to begin a new application.

  4. Fill in Your Personal Details

    • Input your ID number, name, surname, and other details exactly as they appear on your ID.
    • Provide household income information and living arrangements.

  5. Upload Required Documents

    • Upload all supporting documents in PDF or JPEG format.
    • Each document must be clear and under the size limit specified.

  6. Submit Your Application

    • Review your application for accuracy.
    • Click “Submit” and wait for a confirmation message.

  7. Track Your Application

    • Log in regularly to check your application status.
    • You will be notified via SMS and email at each stage of the process.

🗓️ Important NSFAS Dates (2025)

  • Application Opening Date: September 1, 2025
  • Application Deadline: January 31, 2026
  • Appeals Period: February 2026 (if rejected)
  • Disbursement: After registration and approval

Note: Dates are subject to change; always confirm on the official NSFAS website.

💸 What Does the NSFAS Loan Cover?

NSFAS funding typically includes:

  • Tuition fees
  • Registration fees
  • Accommodation (if living away from home)
  • Meals and transport
  • Learning materials (e.g., textbooks)

For loans, repayment is only required once you start working and earn above a threshold (around R30,000 annually, but subject to change).

🔄 NSFAS Loan Repayment

Repayments are:

  • Income-contingent – you only repay when you can afford to.
  • Administered by DHET (Department of Higher Education and Training).
  • Interest-bearing, but interest rates are low and favorable.

You can also apply for a partial loan conversion to a bursary if you perform well academically.

🔁 How to Appeal a Rejected NSFAS Application

If your application is rejected, you may submit an appeal via your MyNSFAS portal:

  1. Log into your MyNSFAS account.
  2. Click on “Track Funding Progress”.
  3. If rejected, click on “Submit Appeal”.
  4. Upload any missing or corrected documents.
  5. Provide a clear explanation or motivation.

📱 NSFAS Contact Information

📝 Final Tips Before Applying

  • Apply early to avoid system overload near the deadline.
  • Use your own email and cellphone number (do not use someone else’s).
  • Double-check that all your documents are certified and legible.
  • Keep a copy of your submission confirmation for reference.

By following this guide, you can confidently apply for NSFAS funding and move one step closer to achieving your academic and career dreams—without the burden of immediate financial pressure.

 

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