based on 13 Harmoney product reviews as rated by Mozo community

Harmoney personal loans

After finding success in New Zealand, Harmoney launched in Australia with a range of attractive low-rate personal loan and car loan products available to borrowers with excellent credit. If you're in the market for a loan, you may want to check them out.

Harmoney offers the following personal loans

Rates and fees verified as correct at 19 April 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee  
Low Rate Car Loan Excellent Credit (Fixed, Secured)

5.66% p.a.to 20.07% p.a.

6.45% p.a.to 20.98% p.a.based on $30,000
over 5 years

$575.00

Low Rate Car Loan Excellent Credit (Fixed, Unsecured)

5.76% p.a.to 24.03% p.a.

6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years

$575.00

Unsecured Personal Loan (Fixed)

5.76% p.a.to 24.03% p.a.

6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years

$575.00

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Harmoney Personal Loans Overview

Unsecured personal loans

Harmony has an unsecured personal loan on offer, and boy, will a top-notch credit rating give you a low rate! Whether you need credit to fund your nuptials or dream holiday, check out a rundown of the key features that come with this loan.

Fixed Car loan

If you've got excellent credit and are keen to get a fixed-rate deal on your home loan, Harmoney has a low-rate car loan. This is a secured loan, so will need to be secured against the car itself. Generally, this will mean the car you want to purchase will need to be new or less than a few years old, depending on the make and model.

Harmoney personal loan features at a glance

  • Tiered rates: Have an excellent credit rating? Then, there's a good chance you'll be eligible for this lender's lowest interest rate available. Then again, if your history of paying debts is on the shady side, you could be dealt an interest rate over the 20% mark! At least with Harmoney, you aren't obliged to commit to a rate you've been quoted if it's higher than what you're looking for.
  • Unsecured loan: The good news is that Harmoney's personal loan is unsecured, which means you won't have to worry about tying an asset such as your car to the loan, making for a faster online application process.
  • Flexibility: Want the peace of mind that comes with a redraw facility to dip into extra repayments? Harmoney can provide that with its personal loans, along with the option for you to pick your billing frequency, whether it's weekly, fortnightly or monthly.
  • Loan top-ups: Let's say you borrow money from Harmoney to fund your big home renovation, and surprise expenses crop up down the track. You can choose to apply for a loan "top up", which means that provided you're approved, you can borrow additional funds by paying a fee of $500.
  • $0 ongoing fees: While Harmoney charges a $500 flat rate upfront, you won't be required to pay admin fees when paying off your debt. Of course, if you're late on your repayments, you may be slapped with penalty charges, which brings us to…
  • Dishonour fees: These loans suit borrowers who've developed good habits when it comes to repaying debt, as fees kick in if you don't stick with the billing schedule. Another thing to keep in mind is that if your account gets sent to the debt collectors, you'll have to pay for the provider's out-of-pocket expenses.

How do you apply for a Harmoney personal loan?

To apply for a personal loan with Harmoney, you'll need to provide them with your email address and personal details that prove you are who you say you are, such as your passport number or driver's licence. Take note that this lender only approves applicants over the age of 18 who live in Australia.

After you've applied...

The process of taking out a personal loan with Harmoney is more flexible than what you'll experience with other providers in the market. For instance, you can take up to 60 days to change your mind (once you've applied for a loan and are approved), so long as the money hasn't landed in your bank account yet.

The same leeway is extended to the peer investors funding your loan, too, as your profile is listed on the Harmoney marketplace until the entire amount has been funded. If 60 days have passed and not enough money has been raised, your application will be pulled from the marketplace, and you'll no longer need to pay that $500 upfront fee.

How are Harmoney personal loans rated?

Mozo users have rated Harmoney personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
Harmoney personal loans
Overall
Price
Features
Customer service
Convenience
Trust

13 Reviews

Recent Harmoney personal loan reviews

Harmoney Personal Loan
Overall 1/10
MISS-LEADING and UNTRUSTWORTHY

MISS-LEADING and UNTRUSTWORTHY - high fees - hidden T&C’s - poor communication and you are rushed through a loan process. - I questioned the amount of my loan several times, I was told that it would be rectified after completing documentation. However, I was funded a lower amount. -

Read full review

MISS-LEADING and UNTRUSTWORTHY - high fees - hidden T&C’s - poor communication and you are rushed through a loan process. - I questioned the amount of my loan several times, I was told that it would be rectified after completing documentation. However, I was funded a lower amount. -

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Christian, Victoria, reviewed over 1 year ago
Harmoney Unsecured Personal Loan
Overall 10/10
Fast and efficient

I applied for a personal loan through Harmoney, could not believe how quick and easy it was. Very competitive interest rate was offered to me, quick approval, I had the money in the bank within a couple of days. The customer service team are brilliant, I had to change my account details for direct debit, no dramas whatsoever. I highly recommend these guys, they’re brilliant.

Read full review

I applied for a personal loan through Harmoney, could not believe how quick and easy it was. Very competitive interest rate was offered to me, quick approval, I had the money in the bank within a couple of days. The customer service team are brilliant, I had to change my account details for direct debit, no dramas whatsoever. I highly recommend these guys, they’re brilliant.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Kylie, New South Wales, reviewed over 1 year ago
Harmoney Personal Loan
Overall 5/10
charges interest for every payment not monthly

The website says it calculates interest daily and applies it monthly but it doesn't. it applies it at every payment you make. The borrower statement does not show you when interest is due to be charged it just shows you how much interest was debited from each payment you make.

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The website says it calculates interest daily and applies it monthly but it doesn't. it applies it at every payment you make. The borrower statement does not show you when interest is due to be charged it just shows you how much interest was debited from each payment you make.

Price
1/10
Features
4/10
Customer service
4/10
Convenience
6/10
Trust
3/10
Less
Nothappy, Queensland, reviewed over 2 years ago
Harmoney Unsecured Personal Loan
Overall 6/10
Average rates, high fees

Easy application process, send monthly reminders 5 days prior to loan payment due, i have a great credit rating and given 10.99% interest rate where i should have gotten a lower one at 6.99, $400 fee to top up your loan, send you out invitations yearly to top up your account. Each time it goes on your credit report. No complaints except interest rate i was given and the very high fees.

Read full review

Easy application process, send monthly reminders 5 days prior to loan payment due, i have a great credit rating and given 10.99% interest rate where i should have gotten a lower one at 6.99, $400 fee to top up your loan, send you out invitations yearly to top up your account. Each time it goes on your credit report. No complaints except interest rate i was given and the very high fees.

Price
5/10
Features
1/10
Customer service
10/10
Trust
9/10
Less
Cherylin, Queensland, reviewed almost 3 years ago
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