5.8 / 10

based on 8 reviews as rated by Mozo community

Harmoney personal loans

Have you heard of peer to peer lending? It's a new lending phenomenon, where everyday Aussies borrow directly from investors rather than the banks. By removing the middleman, peer to peer platforms are generally able to pass on lower rates to customers.

One new P2P provider to enter the market in 2017 is none other than Harmoney. After finding success in New Zealand, the business launched in Australia with a low rate personal loan offering, available to creditworthy borrowers. Read on to learn more...

Harmoney offers the following personal loans

Rates and fees verified as correct at 26 November, 2020. 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)

6.99% p.a.to 25.69% p.a.

7.69% p.a.to 26.53% p.a.based on $30,000
over 5 years

$575

Unsecured Personal Loan (Fixed)

6.99% p.a.to 25.69% p.a.

7.79% p.a.to 26.65% p.a.based on $30,000
over 5 years

$575

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WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Harmoney Personal Loans Overview

Unsecured personal loans

Harmony has a 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 be secured against the car itself so 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

How do you apply for a Harmoney personal loan?

To apply for a personal loan with Harmoney, you’ll need to provide them your email address and personal details that prove you are who you say you’re, such as your passport number or driver’s licence. Take note, the peer to peer lender only approves applicants over the age of 18 and 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 has 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
5.8/10
Price
Features
Customer service
Convenience
Trust

8 Reviews

Recent Harmoney personal loan reviews

Harmoney Unsecured Personal Loan review
Overall 3/10
Scammers

Be very careful with this loan company they are terrible. Interest rates are charged at very expensive rates 25%. Then they offer us a top up at a reduced rate of 24%. I pay $547 a month repayment and $350 goes to interest and the remainder to the loan. I paid extra repayments weekly which they took as interest also. Wish we never accepted the loan. After 2 years I’m still paying $350 a month interest.

Read full review

Be very careful with this loan company they are terrible. Interest rates are charged at very expensive rates 25%. Then they offer us a top up at a reduced rate of 24%. I pay $547 a month repayment and $350 goes to interest and the remainder to the loan. I paid extra repayments weekly which they took as interest also. Wish we never accepted the loan. After 2 years I’m still paying $350 a month interest.

Price
1/10
Features
6/10
Customer service
2/10
Convenience
5/10
Trust
1/10
Less
Nikki, New South Wales reviewed 3 months ago
Harmoney Personal Loan review
Overall 10/10
Best banking lending service online I've ever had.

Love the way approvals are handled and online communications are simply superb.

Read full review

Love the way approvals are handled and online communications are simply superb.

Price
8/10
Features
8/10
Customer service
9/10
Convenience
10/10
Trust
8/10
Less
Jeffrey, Northern Territory reviewed 6 months ago
Harmoney Unsecured Personal Loan review
Overall 0/10
Worst finance company on the internet. Unregulated

I applied for 4k with a $100 a month repayment. Took them 10 days to respond and still they asked for the same documents I have already provided. I spoke to 20 different people and not one of them speaks clear english. They wanted my banking logon details once I sent the statements to them. I damaged my credit rating (which is top notch) by applying through this scam company. Upon further checking they are not even regulated, which spells "DANGER!". I advised finance ombudsman of their shady practices as well as my bank incase they decide to use the info provided to them for a loan. Worst finance company I have dealt with in 30 years, avoid at all costs, you have been warned!

Read full review

I applied for 4k with a $100 a month repayment. Took them 10 days to respond and still they asked for the same documents I have already provided. I spoke to 20 different people and not one of them speaks clear english. They wanted my banking logon details once I sent the statements to them. I damaged my credit rating (which is top notch) by applying through this scam company. Upon further checking they are not even regulated, which spells "DANGER!". I advised finance ombudsman of their shady practices as well as my bank incase they decide to use the info provided to them for a loan. Worst finance company I have dealt with in 30 years, avoid at all costs, you have been warned!

Price
1/10
Features
1/10
Customer service
0/10
Convenience
0/10
Trust
0/10
Less
Dave, Western Australia reviewed 10 months ago
Harmoney Unsecured Personal Loan review
Overall 0/10
Be careful.

This loan is only for desperate people with no options. I applied for a $70,000 loan to renovate my house. I got a loan approval for $14,075 with an interest rate of 28.69% for 5 years. If I accepted I would end up paying $13,085 in just interest. I refused their offer. On their website it said interest rates start at 5.89%. I think the government, RBA and ACCC should look in these type of short loans. Many people who take this short loan out of desperation can easily get entrapped into bigger problems. Hope people use their common sense before taking up a loan like this.

Read full review

This loan is only for desperate people with no options. I applied for a $70,000 loan to renovate my house. I got a loan approval for $14,075 with an interest rate of 28.69% for 5 years. If I accepted I would end up paying $13,085 in just interest. I refused their offer. On their website it said interest rates start at 5.89%. I think the government, RBA and ACCC should look in these type of short loans. Many people who take this short loan out of desperation can easily get entrapped into bigger problems. Hope people use their common sense before taking up a loan like this.

Price
0/10
Features
0/10
Customer service
10/10
Convenience
10/10
Trust
0/10
Less
Marina, South Australia reviewed 10 months ago

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