In this guide

  • Review
  • Details
    • Product details
  • How does the Harmoney Personal Loan work?
  • Eligibility criteria
  • How to apply
  • Features of this loan
  • How much does the Harmoney Personal Loan cost?
  • Your reviews
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Harmoney Unsecured Personal Loan
4.1
★★★★★
Finder score
Interest Rate (p.a.)
5.76% to 24.03%
Comp. Rate (p.a.)
6.55% to 24.98%
Min Loan Amount
$2,000

Summary

Get personalised interest rates with no monthly or early repayment fees. Establishment fees apply.

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3 things to consider about this loan:

  • Personalised interest rate. The interest rate will be tailored to your risk profile.
  • Fixed interest. Your monthly interest charges will remain the same for the duration of the loan.
  • No monthly fees. There are no ongoing fees with this loan.

Pros

  • Tailored, competitive rates
  • Apply for up to $70,000
  • No security required

Cons

  • Restrictive repayment terms
  • $275/$575 upfront fee

In this guide

  • Review
  • Details
    • Product details
  • How does the Harmoney Personal Loan work?
  • Eligibility criteria
  • How to apply
  • Features of this loan
  • How much does the Harmoney Personal Loan cost?
  • Your reviews

Details

Product details

Product Name Harmoney Unsecured Personal Loan
Interest Rate (p.a.) 5.76% to 24.03%
Comp. Rate (p.a.) 6.55% to 24.98%
Interest Rate Type Fixed
Min Loan Amount $2,000
Max. Loan Amount $70,000
Loan Security Unsecured

How does the Harmoney Personal Loan work?

This personal loan from Harmoney is unsecured. The loan offers personalised interest rates based on your individual circumstances. The rate you receive can range from 5.76% p.a. to 24.03% p.a. Aside from the rate, the main cost with this loan is the establishment fee.

Eligibility criteria

To be eligible for the loan, you need to be:
  • Over the age of 18
  • A citizen or permanent resident of Australia, or a New Zealand citizen
  • Earning a stable income
  • Employed full-time or permanent part-time

You must also have a clear credit file, with no defaults, judgements or bankruptcies.

How to apply

You can apply for the loan online, through the Harmoney website. You have the option of creating an account by using your Google account or through Facebook, or alternatively you can enter your email address. You will need to provide photo ID documents like your Australian driver's licence or passport. Keep your documents on hand to speed up the process.
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Features of this loan

  • Unsecured loan. You won't need to offer an asset as security.
  • Fixed rate. Your interest repayments will remain the same for the lifetime of the loan. This makes it easier to predict and budget for your repayments.
  • Personalised rates. Your interest rate will be personalised according to your risk profile. Factors which impact your interest rate include stability of employment, stability of and type of residence, financial behaviour and your demographic profile. If your risk profile is low, you will receive a lower rate. If your risk profile is higher, your rate will be higher.
  • Varying loan terms. Your loan term can be 3, 5 or 7 years.
  • No early repayment fees. You can repay your loan early without incurring a penalty.
  • No monthly fees. No monthly or annual service fees are charged for this loan.

Best lending innovation finalist

A solid effort from Harmoney, placing as a finalist in the Best Lending Innovation category. Harmoney’s pursuit for excellence and creativity has garnered the attention of the tech industry.

Full list of 2023 winners

How much does the Harmoney Personal Loan cost?

The costs associated with this loan include:
  • Fixed personalised interest rates ranging from 5.76% p.a. to 24.03% p.a.
  • An establishment fee of $275 for loans under $5,000; for loans above $5,000, the fee is $575.

No monthly or annual service fees are charged. Your comparison rate, which includes interest charges and fees, will range from 6.55% p.a. to 24.98% p.a.

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