Old Mutual Rewards in South Africa: Your Complete Guide

Introduction

If you’re looking to make your money work harder and earn something extra along the way, then the Old Mutual Rewards programme in South Africa is well worth a closer look. It’s a loyalty-and-financial-well-being scheme that helps you earn points through smart financial habits, then spend or invest those points via the rewards ecosystem. Whether you’re already a customer of Old Mutual Ltd. or simply interested in a free-to-join benefits programme, this guide gives you everything you need to know: how it works, how to earn, how to spend and travel, and how to make the most of it. Let’s dive in.

What is Old Mutual Rewards in South Africa?

Overview of the programme

Old Mutual Rewards is a free-membership rewards programme offered in South Africa that encourages and rewards positive financial behaviour. According to the official site: “Anyone can join — even if you’re not an Old Mutual customer.” 
You earn points for actions like completing assessments, saving, investing, using partner products, or simply being financially smart. Then you can redeem those points for goods, services, banking credits, travel discounts, charitable giving and more. 
The goal is to centre financial wellness rather than just transactional loyalty, which makes Old Mutual Rewards somewhat distinct from typical spend-and-redeem programmes. 

Why it matters in South Africa

In the South African context where financial literacy, saving and investment uptake can be uneven, a programme like this can help by providing concrete incentives for members to engage with their finances. The “earn points for being money smart” tagline underscores that intention. 
Also, for those who already hold Old Mutual products (insurance, savings, investments), it’s an added benefit: you get rewarded for behaviours you’d ideally be doing anyway. 

How Does Old Mutual Rewards Work in South Africa?

Step-by-step: joining the programme

1. Go to the programme portal: Visit https://secure.rewards.oldmutual.co.za/web/om/home to start. 

2. Register for free: The site states “Sign up – For free” and “Anyone can join – Even if you’re not an Old Mutual customer.”

3. Set up your profile: Provide whatever personal details are required, follow verification prompts if necessary.

4. Start earning: Once you’re a member, you can begin earning points via the various eligible activities (covered in the next section).

5. Redeem your points: Use the points you’ve earned for spending, travel, investing, donating, etc. You’ll find the options listed on the portal.

How you earn points

There are multiple routes to earning points under Old Mutual Rewards:

• Completing the free financial assessments, calculators, tools, articles and quizzes: worth 20 points each in many cases. 

• Requesting a free credit report: 100 points.

• Referring a friend or family to join the programme: 100 points.

• Speaking to a financial adviser: 100 points.

• Completing MoneyVersity courses: 50 points. 

• By owning qualifying Old Mutual financial products: you can earn on paying premiums, instalments, on savings/investment behaviours. For instance, customers can earn up to 50% of their monthly insurance premium in points, and up to 5% of monthly savings, investments and lending premiums. 

• If you bank with the associated offering (OM Bank is mentioned) you may earn points on typical banking transactions (e.g., debit/credit card swipes). The site mentions: “Earn 2.5% back in Rewards points with your debit card – and up to 10% back in Rewards points with a credit card.” 

How you spend your points

Once you’ve built up points, the programme offers multiple redemption routes:

• Spending at partners: You can redeem points with any of their partner merchants. For example: Takealot, Makro, Shoprite, Checkers, Woolworths, Telkom, MTN, Vodacom, Uber Eats, etc. 

• Redeeming into your banking account: If you have an OM Bank account, you may redeem your points directly into it. The slogan says: “Download the OM Bank App and redeem your points directly into your OM Bank account.” 

• Investing your points: You may use your points toward certain Old Mutual products you own. 

• Donating your points: You may use points to donate to charities displayed on the rewards website. 

• Travel perks: Members may get travel discounts — the Business Media MAGS article mentions “R150 off ANY domestic flight plus R250 off ANY international flight” as an example of what tier members can achieve. 

Tier system and bonus incentives

The programme is tiered: the more financial products you have (or the more engaged you are), the higher your tier—and the better your earning rate. The Business Media MAGS article says there are five tiers determined by “the number of financial needs met with Old Mutual.”
Higher tiers unlock faster points accrual and better discount benefits.

Key Features of Old Mutual Rewards in South Africa

Feature 1: Free to join, broad eligibility

Even if you’re not currently a customer of Old Mutual, you can join the rewards programme. The portal clearly states “Anyone can join – Even if you’re not an Old Mutual customer.”
This opens up financial-wellness incentives to a broader audience.

Feature 2: Mobile & online friendly

The programme emphasises that “It’s all online and on your phone. No card required!” 
This means you can manage points, redemption, partner offers via a mobile app or website rather than physical loyalty cards.

Feature 3: Financial-behaviour rewards (not just spend)

Rather than only rewarding spending, the programme pays you for financial-smart behaviours: quizzes, assessments, saving/investing, product ownership, etc. This helps tie the reward to long-term outcomes, not just shopping. 

Feature 4: Wide range of redemption options

From everyday consumption (food, groceries, airtime/data) to banking investments and charity donations, the programme offers flexibility. For many users, the ability to turn points into banking account credits is especially compelling. 

Feature 5: Partnership with OM Bank and banking rewards

If you hold or open an OM Bank account, you get extra benefits: e.g., “2.5% back in Rewards points with your debit card – and up to 10% back in Rewards points with a credit card.”
This creates a bridge between everyday banking and rewards.

Benefits of Joining Old Mutual Rewards in South Africa

Benefit 1: Boost your financial habits

Since you earn points for completing learning modules, quizzes, tools and assessments, you’re nudged toward improving your financial literacy. Over time, these habits can help you budget better, save more and invest wisely.

Benefit 2: Get tangible value for your efforts

Points turn into real value: airtime, data, vouchers, bank deposit, charity. Using your staying power and time you spend on financial-education tasks yields a return beyond mere knowledge.

Benefit 3: Make the most of your Old Mutual product relationships

If you already have insurance, savings, investment, or banking products from Old Mutual, you get additional incentives (rebates in points) tied to your product usage. For example, you might earn up to 50% of a premium value in points. 

Benefit 4: Flexibility and options

Unlike loyalty programmes tied only to retail spend, this one gives you options: don’t spend all points immediately—invest, donate, save. That might appeal to folks who are more financially oriented.

Benefit 5: Travelling and lifestyle perks

For higher-tier members you may access travel discounts, partner offers (fuel, flights) and lifestyle rewards, making it more than just another loyalty card. 

Potential Drawbacks and Considerations

Consideration 1: The effort vs reward trade-off

Some earning actions are modest (e.g., 20 points for a quiz). Unless you also engage the product ownership or higher tier route, you might not accumulate large sums of points quickly.
You’ll want to weigh: Am I going to meaningfully engage?

Consideration 2: Points value-equivalence

As with many loyalty schemes, “points” require conversion into actual value. The exact value of a point might vary depending on how you redeem it. The programme doesn’t publicly publish a fixed “1 point = ZAR x” rate for all contexts (at least not in the main site copy we reviewed).
It’s wise to check the current conversion rates when you redeem.

Consideration 3: Tier-level dependency

If you’re not actively using or holding qualifying Old Mutual products, you may remain in a lower tier, and that may limit your earning rate and benefits.

Consideration 4: Redemption availability

While there’s a wide list of partner merchants and banking link-ups, redemption may still have limits (e.g., minimum points, uses per partner, availability of certain travel deals). Always review the “Terms & Conditions” section carefully. 

How to Maximise Your Old Mutual Rewards Points in South Africa

Tip 1: Complete the free learning and assessment tasks regularly

Since many of the set-points actions (quizzes, calculators, credit report, etc.) offer quick points, make those a routine part of your financial check-in.
For example: requesting a free credit report gives you 100 points. 

Tip 2: Link in your banking and daily spend

If you have or open an OM Bank account (or similar via Old Mutual) and you use your debit/credit card, you can accrue significant points just by everyday transactions. “Every swipe, tap, and online payment turns into real rewards.” 

Tip 3: Leverage your existing Old Mutual products

If you already have insurance, savings or investment products with Old Mutual, make sure you understand how they tie into the rewards scheme. You might earn up to 50% of your monthly insurance premium in points. Using the correct product categories helps.

Tip 4: Choose high-value redemption options

When it comes time to redeem, compare: is it better to redeem for airtime/data/vouchers, invest the points, or donate? Pick options that match your priorities (saving/investing vs lifestyle vs giving). Some routes may yield better value per point.
For example, if you plan to travel, using travel discounts versus a voucher might offer more value.

Tip 5: Monitor your tier status

Since higher tiers yield better earning rates, look at how many “product categories” you have that qualify for higher tier status. If you’re close to moving up, it may pay to consider which additional product (savings, investment, insurance) is most suitable for you.
Also, once you’re higher tier, the travel/lifestyle perks become more valuable (e.g., flight discounts). 

Tip 6: Use the official portal regularly

Make it a habit to log into your Old Mutual Rewards account at https://secure.rewards.oldmutual.co.za/web/om/home to check your point balance, new partner offers, redemption options, and any changes to terms. Staying informed means you don’t miss out. 

Frequently Asked Questions (FAQ) About Old Mutual Rewards in South Africa

Q: Is Old Mutual Rewards really free to join?

Yes. The programme states that anyone can join for free, regardless of whether they hold an Old Mutual product. 

Q: Do I need an Old Mutual product to join or earn?

No—you can join and earn points through assessments, quizzes, referrals, etc., without holding a product. However, having qualifying Old Mutual financial products unlocks higher earning potential. 

Q: How long until I get rewards once I’ve earned points?

The site doesn’t specify a universal timeline for point crediting across every task, but many tasks list fixed point amounts (e.g., 50 for a course). After points are in your account, redemption may follow the partner’s rules. As always, check the “Terms & conditions” on the rewards portal. 

Q: What if I forget my login or have issues verifying my profile?

If you’re having trouble logging in or verifying your identity, support details are available: in South Africa call 0860 60 65 00 or outside South Africa +27 21 503 1710.

Q: Where can I redeem my points?

There’s a long list of partner merchants for redemption: groceries, posture stores, food outlets, airtime/data, online retail, etc. For example: Takealot, Shoprite, Checkers, Makro, Uber Eats, Edgars, etc. 

Q: Can I donate my points to charity?

Yes. The programme allows members to donate points to charities displayed on the rewards website. 

Case Example: How One Member Could Use Old Mutual Rewards

Let’s walk through a fictional example of “Sarah” to illustrate how this works in practice:

• Sarah registers for Old Mutual Rewards.

• She spends 30 minutes completing a financial-savvy quiz and an assessment, earning 40 points.

• She requests her free credit report and earns 100 points.

• She banks with OM Bank and uses her debit card; over the month she makes R5,000 in debit transactions, earning 2.5% back in Rewards points (i.e., equivalent to ~125 points if treated as 2.5% of R5,000 in point-value).

• Sarah has a savings product from Old Mutual and, because of that, she earns extra points linked to monthly instalment payments (rate dependent).

• After three months, Sarah accumulates enough points and redeems them for an airtime/data bundle via a partner. She also decides to invest a portion of her points into her OM Bank account and donate a small portion to charity.

Outcome: Sarah has improved her financial literacy, earned value via day-to-day banking, and used her points to meet personal goals (data/airtime, saving/investing, giving back).

Travel and Lifestyle Benefits of Old Mutual Rewards in South Africa

If you engage actively and reach higher tier levels in Old Mutual Rewards, the lifestyle and travel perks can become more significant. According to Business Media MAGS, members have earned:

• Up to R150 off any domestic flight and R250 off any international flight. 

• Discounts and rebates on gym fees for higher tiers (e.g., up to 100% rebate for Tier 4-5 members). 

Thus, if you travel occasionally or value lifestyle benefits, the programme may offer more than just retail vouchers.

Important Terms & Conditions to Be Aware Of

• Points expiry or validity: Many rewards programmes impose expiry of points after a certain period of inactivity. Check the Old Mutual Rewards terms. The portal lists “Terms & Conditions” as a core menu item. Tier changes: Your tier status might change depending on product eligibility, use, or term changes.

• Product eligibility: Not all Old Mutual products qualify for extra points; check the specific product-category criteria.

• Redemption partner rules: Partners may have blackout periods, minimum point thresholds, or restrictions.

• Conversion rates: Understand how many points equate to ZAR value in each redemption scenario.

• Privacy & identity verification: As part of profile setup and verification, you may need to submit identity credentials and photos. The login/help FAQs show such requirements.

Conclusion: Is Old Mutual Rewards Right for You?

If you’re in South Africa and you’re looking for a loyalty-style programme that aligns with financial wellness (not just spend-and-redeem), then Old Mutual Rewards is a strong contender. It’s free to join, offers a wide array of earning and redemption options, and particularly rewards smart financial behaviour and product ownership.

That said, the best value comes when you engage actively: complete the learning modules regularly, link your banking/spend, and consider product qualification if relevant. If you just join and never engage, you may earn only modest points—and miss out on higher-tier perks.

Final thoughts

• Join and start earning the easy tasks (quizzes, assessments) right away.

• Make your day-to-day banking/spend work for you by using the debit/credit card via OM Bank.

• Review any existing Old Mutual products you hold and check if they qualify for points.

• Plan how you redeem your points (everyday vouchers vs investing vs donating) to maximize value.

• Stay aware of the terms and tier status to ensure you’re not stuck in a low-earning bracket.