Trying to find the right peer-to-peer loan for you? Compare Harmoney and RateSetter before you apply.
If you're trying to find a personal loan, you might be considering a loan from a peer-to-peer (P2P) lender. On this page, we compare the main fees, rates and features of loans from two prominent P2P lenders, Harmoney and RateSetter.
|Interest rate||From 6.99% p.a.||From 4.28% p.a. (variable rate)From 7.17% p.a. (fixed rate)|
|Interest rate type||Fixed||Variable rate (rates from 4.28% p.a. with terms from 0.50 months to )
Fixed rate (rates from 7.17% p.a.)
|Secured or unsecured||Unsecured||Secured or unsecured|
|Loan amounts||$5,000 to $70,000||$2,001 to $45,000|
|Loan terms||3 year(s) to 5 year(s)||0.50 year(s) to 5 year(s)|
|Early repayment without penalty?|
|More||Find out more||Find out more|
Harmoney and RateSetter both offer competitive loans but differ slightly on their product offerings. Harmoney offers unsecured loans with fixed rates while RateSetter offers fixed or variable rate loans that can be secured or unsecured. The loan amounts differ slightly, as do the loan terms (RateSetter's loan terms are tied to the rate type). Also, Harmoney has slightly more flexible lending criteria.
As there are quite a few differences between these lenders, make sure you compare the benefits and drawbacks of each thoroughly before making your decision.