Harmoney personal loan

2019 Winner
Last updated:  

Take advantage of Harmoney’s personal loans, where you can get a competitive rate based on your credit score.

Harmoney is an online-only lending platform that offers personal loans from $5,000 to $70,000 Australia-wide.

3 things you should know about this loan

  • Tailored interest rate. You will receive an interest rate of between 6.99% p.a. to 28.69% p.a. based on your credit profile.
  • Restrictive loan terms. You can only select loan terms of 3 years or 5 years, However, while the loan terms are restrictive, you can repay the loan ahead of schedule if you're able. You can also choose to make repayments weekly, fortnightly, or monthly.
  • High upfront fee. You are required to pay a one-off $500 establishment fee for loans of over $5,000. For loans between $2,000 and $5,000, this establishment fee is $200. This fee will be charged at settlement.

From 6.99% (fixed)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Min Loan Amount


Product NameHarmoney Unsecured Personal Loan
Interest Rate (p.a.)From 6.99% (fixed)
Comparison Rate (p.a.)7.69%
Interest Rate TypeFixed
Min Loan Amount$2,000
Max. Loan Amount$70,000
Loan SecurityUnsecured

Main points to consider with a Harmoney Personal loans

A personal loan from Harmoney is an unsecured loan that can be used for any worthwhile purpose. Borrowers can apply for loans of between $2,000 and $70,000.

Once your loan application has been reviewed by Harmoney, your credit profile is verified to determine your creditworthiness, and a rate will be assigned to you. Borrowers can then opt to accept or reject the loan offer based on their rate.

Interest rates vary according to your profile. Borrowers can choose loan periods of 3 years or 5 years

What features come with the Harmoney personal loan?

Here are some of the features of Harmoney’s Personal loans:

  • Unsecured loans. These loans are unsecured, which means you don’t have to declare valuable assets as collateral and risk losing them.
  • Tailored interest rates. Interest rates are tailored according to your profile. Rates vary between 6.99% p.a. to 28.69% p.a.
  • Flexibility. Loans can be used for any legal purpose.
  • Repayments. You repay your loan every month by direct debit and have your choice of loan terms – terms of 3 years or 5 years are available.
  • Loan amount. Borrowers can apply for loans form $2,000 up to $70,000.
  • No early repayment fees. You can repay the whole loan amount before the end of the loan period without risking a penalty fee.

How much will the loan cost?

Borrowers pay a one-off establishment fee (referred to by Harmoney as a "platform fee" of $200 for loans up to $5,000. For loans of $5,000 and over, borrowers can expect to pay a $500 establishment fee. This fee is charged upon loan settlement. As long as you make the required payments, there are no additional fees charged. If a payment is dishonoured you’ll be charged a fee of $15.

Harmoney personal loan interest rate & fees

  • Minimum interest rate: 6.99% p.a.
  • Maximum interest rate: 28.69% p.a.
  • One-off fee: $500 for loans over $5,000, $200 for loans of $2,000 - $5,000.
  • Dishonour fee: $15.

How you can apply for a Harmoney personal loan

The application process is completed online. To be eligible for a loan from Harmoney, you must:

  • Be applying as an individual (not a company, partnership, incorporated society, trust or other legal entity)
  • Be an Australian citizen or permanent resident or a New Zealand citizen with a valid Australian driver's licence or passport
  • Be at least 18 years old
  • Have a reasonably good credit record

You’ll need to provide your personal details, information regarding the loan you’re after as well as your financial information.

Personal Loan Offers

Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate between 9.99% p.a. and 17.99% p.a. (9.99% p.a. to 17.99% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: No establishment fee and no monthly account service fees apply if you apply and are approved before 31 March 2020.

Logo for RateSetter Unsecured Personal Loan - 3yr Variable
RateSetter Unsecured Personal Loan - 3yr Variable

You'll receive a variable rate between p.a. and 16.40 p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.

Logo for ING Personal Loan
ING Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.

Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

Ask an expert

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  1. Default Gravatar
    February 11, 2019

    Was made redundant in December last year. Currently, I am receiving a Centrelink carers benefit and am commencing a (new) full time, permanent position of employment in the next couple of days. Is it possible to apply for an unsecured personal loan, given the above financial position?

    • AvatarStaff
      February 16, 2019

      Hi A77,

      Thank you for getting in touch with finder.

      Please note that lenders also require loan applicants to provide financial documents to access their creditworthiness. Harmoney adheres to a strict credit policy that assesses borrowers’ ability to pay back their loans. I suggest that you contact them directly regarding your chances of being approved for the loan.

      I hope this helps.

      Thank you and have a wonderful day!


  2. Default Gravatar
    October 16, 2018


    I’m an Australian citizen but I work for a UK company and I’m paid in GBP – would that affect my eligibility?


    • AvatarStaff
      October 16, 2018

      Hi Melissa,

      Thank you for getting in touch with finder.

      Whenever you apply for a loan, lenders check your credit history and asses your capability to repay the loan. They basically ask for financial information which also includes details of the applicant’s employer. Upon checking on Harmoney’s P2P loan application requirements, it did not state that you must be earning in AUD only. For further assistance/info, you may contact Harmoney directly or visit their official page.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!


  3. Default Gravatar
    September 28, 2018

    Hi I am a millionaire in property and have cash to buy land
    In Europe and I asked to borrow money for tickets and expenses they wouldn’t even lend me ten grand i felt demiscriminated against and that I was lured by false advertising pointing to your lending criteria which I passed and was still declined

    • AvatarStaff
      October 1, 2018

      Hi Matt,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      I’m sorry to hear about your situation, Matt. Our page mentioned the preliminary requirements for this loan. However, there are still other factors that Harmony would take into consideration before they will approve your loan. That’s why you also need to provide personal details, information regarding the loan you’re after as well as your financial situation.

      If you don’t satisfy their criteria, they will reject your loan.

      What you can do is explore other peer-to-peer personal loans. Please review the criteria, details of the loan product, and its conditions, then contact the lender directly to discuss your loan options and eligibility.

      You also mentioned that you have money and assets. You might use that instead of borrowing money.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  4. Default Gravatar
    September 7, 2018

    Hi I have credit card I want to pay out at around $7000 plus some bills I want to catch up on. Had some health issues which have gotten me a little behind. Could I get a personal loan to get me back on track. I believe I have reasonable credit.

    • AvatarStaff
      September 8, 2018

      Hi Lee,

      If you are considering a loan application with Harmoney, you need to meet their eligibility criteria which you can find listed above on this page. They will also ask for your personal and financial information as part of their application process.

      You can also compare your other options for lenders offering personal loan here.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the agreement terms to know if it best suits your needs.

      Hope this helps.


  5. Default Gravatar
    May 1, 2018

    Hi, we have $150,000 and in need of $30,000 to buy a relocatable home in a resort. We are on aged pension. Are we able to borrow? I have a very good name in paying my bills.

    • AvatarStaff
      May 1, 2018

      Hi Jual,

      Thank you for getting in touch with finder.

      As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

      Please check out this link for your other options since you need to loan for $30,000.

      I hope this helps.

      Have a great day!


  6. Default Gravatar
    April 20, 2018


    I currently have a personal loan with a major bank but I want to pay it out sooner and at a lower interest rate to reduce my interest repayments. I have never missed a repayment on any loan that I’ve had. I have always paid out other bank loans (for example, car loan) at least 6 months in advance. I believe my credit rating is quite good.

    If I was to apply to Harmoney or any other company, how can I be certain that their interest rate will be less than my current rate?

    • AvatarStaff
      April 20, 2018

      Hi Brendan,

      Thanks for reaching out.

      With Harmoney’s p2p loan, interest rates are tailored according to your profile thus rates vary between 6.99% p.a. to 28.21% p.a. Harmoney’s interest rates are offered based on the individual borrower’s credit assessment according to Harmoney’s credit scorecard. As we do not represent the companies featured on our pages, for you to check on the interest rate, you may need to directly contact Harmoney. Also, should you wish to get an estimate amount of your repayments, you may click on the go to site button and use their quick estimate calculator.

      Alternatively, you may compare low interest personal loans found on this page.


  7. Default Gravatar
    March 22, 2018

    I have a loan can harmony take over the loan

    • AvatarStaff
      March 22, 2018

      Hi David,

      Thanks for your question.

      Harmoney Peer-to-Peer Loan offers loan consolidation which you can use to combine multiple loans into a single one. However, upon checking their website, I cannot find any option for refinancing.

      Alternatively, if you want to refinance your existing loan to get a better rate, you may compare your other options on this page.

      I hope this helps.


  8. AvatarStaff
    February 23, 2018

    Hi Mohammad, thanks for your inquiry.

    Please use our personal loan calculator to determine your repayments.



  9. Default Gravatar
    February 18, 2018

    hi my name is gabriela im interested to borrow 30000 $ for nearly 3or 4 years can you tell me if i can make fix rate like 6.99 %pa and how much will cost me if is posibale

    • AvatarStaff
      March 7, 2018

      Hi Gabriela, thanks for your inquiry.

      Borrowers can apply for loans of between $5,000 and $70,000. Borrowers pay a one-off $500 platform fee that’s added to the requested loan amount. As long as you make the required payments, there are no additional fees charged.



  10. Default Gravatar
    February 6, 2018

    can u do loans for over a 7 or 10 year period.? and i have a loan i am searching for a better deal as i want to borrow a further 20,000 i am currently paying 600 bucks a month on a 24,000 loan surely there is someone that can do me a better deal with a smaller interest rate plz

    • AvatarStaff
      February 14, 2018

      Hi Teena,

      Thanks for getting in touch.

      Please note that we are not affiliated with Harmoney.

      However, we have a guide on this page that helps you find long-term personal loans that extend up to seven years. Moreover, you will also see a table that lists all the options available for you. Plus, you can specify the loan amount and term period. Click the calculate button and you will find repayments as low as $340 per month.

      Alternatively, if you’re looking to refinance or switch loans. You can refer to these pages:

      Another option available is to top up your existing loan:

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Joshua Infantado

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