Harmoney Personal Loan Application Details

Harmoney Personal Loan

Launched on 10 September 2014, Harmoney offers peer-to-peer lending services. It enables applicants to apply for a Harmoney Personal Loan through its site by providing details about the applicants and the type of loan they wish to apply for.

Harmoney Personal Loan terms

Headquartered in Auckland, New Zealand with offices in Sydney, Harmoney offers unsecured loans between $2,000 and $70,000 for 3 or 5-year terms. However, customers can choose to repay their personal loan ahead of schedule. They can also make repayments weekly, every two weeks or monthly.

Harmoney Personal Loan Requirements

To apply for loan, applicants must meet Harmoney’s credit standards and responsible lending requirements. Harmoney determines the applicant’s creditworthiness on the basis of their income, debt, credit history and the loan amount they request. Applicants will be assigned a risk grade and the interest rate associated with it based on their scorecard, which grades loans from A to F.

People can only apply for loan as an individual. All applicants must be Australian citizens or New Zealanders with a valid passport or driver’s license. Additionally, they will have to provide their financial information, personal details and information about the loan they want.


For loans between 2, 000 and 5,000 AUD, customers will pay an establishment fee of 200 AUD. The establishment fee for loans of over 5, 0000 AUD is 500 AUD. The fee is charged at settlement. There are no additional fees if the customer makes the required payments.

Harmoney Personal Loan Interest rate

Customers will receive an interest rate that ranges between 6.99% and 28.69% p.a depending on their credit profile. The rate is fixed for the entire length of their loan. The comparison rate is 7.69% to 29.55% p.a., which is based on unsecured personal loans of 30,000 AUD over 5 years.

Purpose of a Personalloan

People can use Harmoney personal loans for various purposes. These include:

  • Consolidating debt: Imagine carrying multiple outstanding credit cards or loans with varying interest rates. This is a recipe for financial trouble. Harmoney personal loan is the solution to this problem as customers can use it to consolidate debt by combining all the outstanding balances into a single monthly payment.
  • Renovation: Customers can use a personal loan to remodel their home. With this loan, customers can remodel their kitchen, add a swimming pool, install solar panels, put on a new roof and more.
  • Pay for holidays or buy a car: Harmoney unsecured personal loans help borrowers finance their dream holiday. People can also take the loan to make a larger purchase such as buying a car.