Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan
Mozo Review Harmoney Unsecured Personal Loan Review
Last updated: 13 November 2019.
What's hot:
Competitive rates for creditworthy borrowers
No ongoing fees
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 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 28.69% (29.55% comparison rate*), 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 $2,000 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.
And because Harmoney is totally online, you'll pay 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). And if your loan amount is under $5,000, you'll only pay a $200 fee.
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 (or $200 if the loan amount is under $5,000). And don’t forget, that a poor credit history won’t work in your favour with Harmoney.
Details
Rates and fees information correct as at 22 January 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
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Fixed
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6.99% p.a.to 28.69% p.a. fixed
-
7.69% p.a.to 29.55% p.a.based on $30,000
over 5 years
Fees
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$500.00
-
$0.00
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$15.00
-
$0.00
-
$0.00
Other financial bits
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$2,000.00
-
$70,000.00
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1 Year
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5 Years
-
Unsecured
Features
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Weekly, Fortnightly, Monthly
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yes
-
no
-
none
-
Establishment fee is $200 for loans under $5,000.
Customer Reviews
How are Harmoney personal loans rated by the Mozo community?
Latest reviews of Harmoney Unsecured Personal Loan
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Competitive interest and great customer service.
It is efficient in accepting and providing funds quickly on application. Customer service is very good and the interest rate is great.
Read full reviewIt is efficient in accepting and providing funds quickly on application. Customer service is very good and the interest rate is great.
Price10/10Features3/10Customer service10/10Convenience-1/10LessTrust10/10 -
Competitive interest rates and FAST response.
Consolidating debt into a single loan with low to reasonably competitive fees is no problem with these guys, and they are fast!
Read full reviewConsolidating debt into a single loan with low to reasonably competitive fees is no problem with these guys, and they are fast!
Price7/10Features7/10Customer service10/10Convenience10/10LessTrust10/10 -
Helpful for quick cash but not the best option.
They really helped me out when I needed money on short notice but if I had had more time I wouldn't have chosen to borrow with Harmoney.
Read full reviewThey really helped me out when I needed money on short notice but if I had had more time I wouldn't have chosen to borrow with Harmoney.
Price3/10Features5/10Customer service5/10Convenience3/10LessTrust2/10 -
Best online banking service I've ever had.
Harmoney provides a service for unsecured personal loans like no bank has ever offered me. The ease and simplicity I experience during the online application and approvals process was amazing.
Read full reviewHarmoney provides a service for unsecured personal loans like no bank has ever offered me. The ease and simplicity I experience during the online application and approvals process was amazing.
Price8/10Features9/10Customer service10/10Convenience10/10LessTrust10/10
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8.00% p.a.
8.21% p.a.based on $30,000
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5.75% p.a.to 19.99% p.a.
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Discounted Personal Loan
7.99% p.a.
8.35% p.a.based on $30,000
over 5 years
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Unsecured Personal Loan
6.99% p.a.to 28.69% p.a.
7.69% p.a.to 29.55% p.a.based on $30,000
over 5 years
$500.00upfront and $0.00/month
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6.79% p.a.
8.83% p.a.based on $10,000
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$299.00upfront and $0.00/month
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4.69% p.a.
7.16% p.a.based on $10,000
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Unsecured Personal Loan (Fixed)
7.65% p.a.to 26.99% p.a.
7.65% p.a.to 23.5% p.a.based on $30,000
over 5 years
$0.00upfront and $0.00/month
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NAB
Personal Loan (Variable, Unsecured)
12.69% p.a.to 18.69% p.a.
13.56% p.a.to 19.53% p.a.based on $30,000
over 5 years
$150.00upfront and $10.00/month
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7.16% p.a.based on $10,000
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5.50% p.a.
5.85% p.a.based on $30,000
over 5 years
$250.00upfront and $0.00/month
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Discounted Personal Loan
7.99% p.a.
8.35% p.a.based on $30,000
over 5 years
$250.00upfront and $0.00/month
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4.19% p.a.
4.73% p.a.based on $30,000
over 5 years
$400.00upfront and $0.00/month
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Discounted Personal Car Loan
5.64% p.a.
5.99% p.a.based on $30,000
over 5 years
$250.00upfront and $0.00/month
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5.75% p.a.to 19.99% p.a.
6.89% p.a.to 23.07% p.a.based on $30,000
over 5 years
$300.00upfront and $10.00/month
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OurMoneyMarket
Low Rate Personal Loan
8.00% p.a.
8.21% p.a.based on $30,000
over 5 years
$150.00upfront and $0.00/month
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Harmoney
Unsecured Personal Loan
6.99% p.a.to 28.69% p.a.
7.69% p.a.to 29.55% p.a.based on $30,000
over 5 years
$500.00upfront and $0.00/month
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HSBC
Unsecured Personal Loan
8.50% p.a.to 16.99% p.a.
9.06% p.a.to 17.53% p.a.based on $30,000
over 5 years
$150.00upfront and $5.00/month
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People's Choice Credit Union
Low Rate Unsecured Personal Loan
9.99% p.a.
11.74% p.a.based on $10,000
over 3 years
$250.00upfront and $0.00/month
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MoneyPlace
Unsecured Personal Loan (Fixed)
7.65% p.a.to 26.99% p.a.
7.65% p.a.to 23.5% p.a.based on $30,000
over 5 years
$0.00upfront and $0.00/month
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Unsecured Personal Loan
6.79% p.a.
8.83% p.a.based on $10,000
over 3 years
$299.00upfront and $0.00/month
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Unsecured Personal Loan
7.95% p.a.to 16.95% p.a.
9.56% p.a.to 18.53% p.a.based on $30,000
over 5 years
$495.00upfront and $13.00/month
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Personal Loan
5.75% p.a.to 19.99% p.a.
6.89% p.a.
$10.00
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Heritage Bank
Low Rate Secured Personal Loan
4.69% p.a.
5.33% p.a.
$5.00
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Discounted Personal Car Loan
5.64% p.a.
5.99% p.a.
$0.00
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6.79% p.a.
8.83% p.a.
$0.00
