Harmoney Personal Loans


Harmoney is an online provider of personal loans which can be taken out for a variety of personal uses.

What personal loans does Harmoney offer?  

At the time of writing, Harmoney offers an unsecured personal loan with a fixed interest rate over the life of the loan. The interest rate on the loan is determined by the individual’s financial circumstances. 

The minimum loan amount for a Harmoney personal loan is $2,000 while the maximum loan amount is $50,000. 

Harmoney offers loans for three or five years, which can be repaid weekly, fortnightly or monthly. 

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What can you use Harmoney’s personal loans for? 

Harmoney says its personal loans can be used for a variety of purposes and life events, such as:

  • Buying a car 
  • Debt consolidation 
  • Holidays 
  • Medical and personal expenses
  • Home improvements 
  • Education 
  • Business expenses
  • Weddings and more

Check the product disclosure statement (PDS) from Harmoney for more information on what you can and can’t take out a personal loan for. 

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Harmoney personal loans FAQs

Harmoney personal loans can be taken out for three or five year terms. Repayments can be made weekly, monthly or fortnightly.

There are a number of fees to be aware of when taking out a personal loan. At the time of writing, Harmoney charges a one-off establishment fee when you take out a personal loan. It says that loans of less than $5,000 come with a $200 establishment fee, while loans of $5,000 and above have a $500 fee. The fee is added to the total loan amount and is paid to Harmoney when the loan is settled. If your loan is not successfully funded, you will not be required to pay an establishment fee.

Harmoney says it also charges a dishonour fee if a borrower misses a payment and it has to be reprocessed.

Harmoney  doesn’t charge an early repayment fees, but other fees may apply to your loan. Visit the Harmoney website for more information.

At the time of writing, Harmoney does not list a specific minimum amount for repayments, but regular repayments are required and they can be made weekly, fortnightly or monthly. Loans can also be repaid early at no extra cost.

When applying for a personal loan with Harmoney you need to meet the following criteria:

  • You must be 18 years or older 
  • You must be an Australian citizen, permanent resident or New Zealand citizen
  • You must be currently employed full-time or permanent part-time
  • Have a clear credit file with no defaults, judgements or bankruptcies 
  • Requirement a minimum $5,000 loan

Harmoney says that an online application takes approximately 10 minutes provided you have everything on hand. You may need to provide documents and ID such as:

  • A current driver’s license 
  • Details of your current and previous (if applicable) employer 
  • Details of your income, assets, expenses and liabilities
  • Previous tax returns if you are self-employed

Harmoney is a global online lender of personal loans that has been operating in Australia since 2016.

Written by: Eliza Parry-Okeden | Last updated: March 19, 2020