Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan
Mozo Review Harmoney Unsecured Personal Loan Review
Last updated: 5 April 2019.
What's hot:
2018 Mozo Experts Choice winner
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, the 2018 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 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 $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.
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).
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.
Details
Rates and fees information correct as at 26 May 2019. 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
-
Fixed
-
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
-
$500.00
-
$0.00
-
$15.00
-
$0.00
-
$0.00
Other financial bits
-
$5,000.00
-
$70,000.00
-
1 Year
-
5 Years
-
Unsecured
Features
-
Weekly, Fortnightly, Monthly
-
yes
-
no
-
none
-
none
Customer Reviews
This product is not currently reviewed.
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