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.
With competitively low fixed rates starting from only 5.35% (6.14% 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 19.09% (19.99% 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 $575 fee payable on approval. Harmoney loan terms can be either 3, 5 or 7 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 $575 (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.
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.
You’ll need to pay $575 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 will lead to a higher rate with Harmoney.
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Fixed |
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5.35% p.a.to 19.09% p.a. fixed |
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6.14% p.a.to 19.99% p.a.based on $30,000 |
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$575.00 |
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$0.00 |
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$15.00 |
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$0.00 |
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$0.00 |
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$2,000.00 |
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$70,000.00 |
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3 Years |
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5 Years |
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Unsecured |
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Weekly, Fortnightly, Monthly |
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yes |
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no |
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Establishment fee is added to the loan amount and interest is charged on the total amount. |
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Establishment fee is $275 for loans under $5,000. |
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.
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 reviewI 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.
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 reviewEasy 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.
Covid19 Help: Do not reply to emails for bank statements they ask for that you send then send a different email to deny hardship support.
Read full reviewCovid19 Help: Do not reply to emails for bank statements they ask for that you send then send a different email to deny hardship support.
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 reviewBe 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.
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 reviewI 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!
OurMoneyMarket
Low Rate Personal Loan
6.25% p.a.to 8.48% p.a.
6.87% p.a.to 8.84% p.a.based on $30,000
over 5 years
Harmoney
Unsecured Personal Loan
5.35% p.a.to 19.09% p.a.
6.14% p.a.to 19.99% p.a.based on $30,000
over 5 years
NOW Finance
Unsecured Personal Loan
6.75% p.a.to 19.95% p.a.
6.75% p.a.to 19.95% p.a.based on $30,000
over 5 years
Wisr
Unsecured Personal Loan
8.20% p.a.to 18.45% p.a.
9.04% p.a.to 18.87% p.a.based on $30,000
over 5 years
NAB
Personal Loan (Variable, Unsecured)
6.99% p.a.to 18.99% p.a.
7.91% p.a.to 19.83% p.a.based on $30,000
over 5 years
OurMoneyMarket
Low Rate Personal Loan
8.49% p.a.to 11.19% p.a.
8.85% p.a.to 11.56% p.a.based on $30,000
over 5 years
NOW Finance
Unsecured Personal Loan
6.75% p.a.to 19.95% p.a.
6.75% p.a.to 19.95% p.a.based on $30,000
over 5 years
OurMoneyMarket
Low Rate Personal Loan
6.25% p.a.to 8.48% p.a.
6.87% p.a.to 8.84% p.a.based on $30,000
over 5 years
Plenti
Unsecured Personal Loan
7.39% p.a.to 8.59% p.a.
7.39% p.a.to 9.91% p.a.based on $10,000
over 3 years
Harmoney
Unsecured Personal Loan
5.35% p.a.to 19.09% p.a.
6.14% p.a.to 19.99% p.a.based on $30,000
over 5 years
Wisr
Unsecured Personal Loan
8.20% p.a.to 18.45% p.a.
9.04% p.a.to 18.87% p.a.based on $30,000
over 5 years
OurMoneyMarket
Low Rate Personal Loan
8.49% p.a.to 11.19% p.a.
8.85% p.a.to 11.56% p.a.based on $30,000
over 5 years
NAB
Personal Loan (Variable, Unsecured)
6.99% p.a.to 18.99% p.a.
7.91% p.a.to 19.83% p.a.based on $30,000
over 5 years
