With high fuel prices and rising interest rates weighing heavily on consumers, Old Mutual Rewards can help South Africans save money this festive season.
Nceba Hene, head of marketing and brand at Old Mutual Rewards, says December is a time for road trips, enjoyment and much-needed downtime with family and friends — which means it’s time to take advantage of the rewards points you've accumulated in the year. With the right budgeting mindset and Old Mutual Rewards, you can stretch your money further. You may even be able to save some money.
Old Mutual Rewards is free and allows registered members to earn points for participating in various activities which include completing financial assessments, using online calculators such as the education savings or debt repayment calculators, and completing education modules on Old Mutual's Moneyversity.
Members can convert and reinvest their points into a qualifying Old Mutual product, they can buy vouchers to pay for day-to-day essentials such as fuel, groceries, airtime, data, travel and entertainment at rewards partners, or donate points to charity.
“Those planning to travel for the holidays can take full advantage of the 50% more value on fuel. Between December 1 2022 and January 3 2023, motorists can beat the fuel price increases by redeeming their Old Mutual Rewards points for TotalEnergies fuel vouchers to get 50% extra value on every redemption. If you redeem 2,000 points, you will get a R300 voucher, affording you R100 more fuel,” says Hene.
Members also stand a chance to win a R10,000 Shoprite/Checkers voucher when spending their Old Mutual Rewards points at the stores between December 1 2022 and January 15 2023. Members who join during this period will get automatic entry.
Since the inception of the rewards programme, the number of members has skyrocketed to 1.8-million, who cumulatively have earned almost 5-billion points, equating to an estimated R500m in value.
Exciting value adds for 2023
Old Mutual Rewards is ready to help SA households kick off 2023 with exciting new benefits.
When spending rewards points, members will receive 5% more value with every purchase of health and beauty products at Dis-Chem and movie lovers will get 50% more value at Nu Metro and Ster-Kinekor.
Members can also look forward to spending their points on cycling and golfing equipment from Cycle Lab and Pro Shop. Meanwhile, Edgars, Legit, Baby City, Babies R Us, and Toys R Us join the rewards partner family — which has more than 30 partners.
Health, fitness and wealth to the fore
Members with qualifying Old Mutual Protect Cover solutions can earn up to 500% of their monthly premium in Old Mutual Rewards points for maintaining a healthy lifestyle and being fit. This 500% comprises of members earning up to:
- 35% of their qualifying Old Mutual Personal Cover premium in rewards points;
- 250% of their qualifying Old Mutual Protect Cover premium in rewards points for completing a qualifying endurance event every six months; and
- 215% of their Old Mutual Protect Cover premium in rewards points if they meet the health requirements.
Tier five members, for example, can earn 500% of their R1,000 premium, which is 5,000 points.
In addition, as of January 1 2023, members will earn Old Mutual Rewards points based on the market value of their investments each month, instead of earning points only when they make new contributions to their investments.
The new year brings additional changes that include new criteria that members with Old Mutual personal and debt consolidation loans will have to attain for their loan to contribute towards their Old Mutual Rewards tier. Members with Old Mutual Money Accounts will need to fulfil new criteria to be eligible to earn points on their Old Mutual Money Account.
“Saving on expenses is more important than ever as the SA household budget comes under increasing pressure from rising costs. As a responsible business, we believe rewarding good financial behaviour is key to improving the nation’s savings culture.
“This is why Old Mutual Rewards provides points for using 22seven, the free digital service that helps you budget, eliminate overspending and make the most of every rand from the bank accounts you’ve linked to the app. You can earn 300 easy Old Mutual Rewards points for linking your accounts. Helping customers improve their finances has been part of Old Mutual's DNA for over 177 years.”
Click here to find out more about how to earn points and for a full list of where these points can be used.
Old Mutual Rewards (Pty) Ltd is a company in the Old Mutual Group. Terms, conditions and programme rules apply. Old Mutual Life Assurance Company (SA) Ltd is a licensed FSP and Life insurer. Old Mutual Wealth is an elite service offering brought to you by several licensed FSPs in the Old Mutual Group. The Old Mutual Money Account is an offering by Old Mutual Transaction Services in association with Bidvest Bank Ltd.
This article was paid for by Old Mutual Rewards.
