Harmoney Unsecured Personal Loan

6.99% p.a.to 26.95% p.a.

7.69% p.a.to 28.21% p.a.based on $30,000
over 5 years


Harmoney Unsecured Personal Loan Review

Rates and fees information correct as at 25 September 2018.

Review published: 9 May 2017

What's hot:

  • Competitive rates for creditworthy borrowers

  • No ongoing fees

  • 2017 Mozo Experts Choice winner

  • Loan top up feature

What's not:

  • $500 upfront fee once loan is funded

Mozo snapshot:

The Harmoney unsecured personal loan isn’t your average loan, as it’s funded by investors - otherwise known as peers - rather than the provider itself. So if you’re in the market for a low interest rate, no ongoing fees and the flexibility to make early repayments, the 2017 Mozo Experts Choice winning Unsecured Personal Loan from Harmoney could be the perfect match for you.

Key features:

With competitively low fixed rates starting from only 6.99% (7.69% comparison rate) and nifty account features such as a redraw facility to access extra repayments, the unsecured personal loan offered by Harmoney has a lot going for it.

While Harmoney interest rates start lower than the average unsecured personal loan, depending on the borrower’s credit history they can climb all the way up to 26.95% (or to a comparison rate of 28.21%), making this loan more suitable for those with strong credit ratings.

Harmoney sources its cash from peers who invest money via its online marketplace and offers $5,000 to $70,000 loans. When you want to borrow more you can apply to top up your funds for a $500 fee payable on approval. Harmoney loan terms can be either 3 or 5 years, on a repayment frequency of your choice - either weekly, fortnightly or monthly.

Because the provider operates completely online, you benefit in the form of no admin fees. Just keep in mind, the cost to advertise your loan request on Harmoney’s peer to peer platform is $500 (but you’re only charged for it after the loan is successfully funded).

Who it's good for:

Aussies looking to make small or medium sized purchases using a personal loan that comes with a competitively low fixed interest rate, in return for their top notch credit rep.

Any catches?

You’ll need to pay $500 upfront once your loan has been funded by peers. And don’t forget, that a poor credit history won’t work in your favour with Harmoney.

The Mozo community has not yet rated Harmoney for this personal loan.


  • Fixed

  • 6.99% p.a.to 26.95% p.a. fixed

  • 7.69% p.a.to 28.21% p.a.based on $30,000
    over 5 years


  • $500.00

  • $0.00

  • $15.00

  • $0.00

  • $0.00

Other financial bits

  • $5,000.00

  • $70,000.00

  • 1 Year

  • 5 Years

  • Unsecured


  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • none

  • none

*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. WARNING: 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.

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