Harmoney Personal Loans

Harmoney is a New Zealand provider of marketplace or peer-to-peer (P2P) personal loans, providing a platform for investors and borrowers.

What personal loan options does Harmoney offer?

Here’s a snapshot of what loans Harmoney currently offers:

Harmoney offers long-term personal loans to New Zealanders which can range in value from $1,000 to $70,000. Loan terms can be either three or five years; Harmoney’s interest rates range from 6.99% p.a. up to 29.99% p.a. (comparison rate 7.69% p.a. – 28.21% p.a.) and depend primarily on the borrower’s individual credit rating – the better your credit rating, the lower your interest rate.

Harmoney’s loans are unsecured, meaning you don’t need to offer up any collateral in order to be approved for a loan.

Harmoney has a one-off $500 Platform fee charged at the start of your loan – the amount is added to your loan principal for you to pay off over time.

How do I apply for a Harmoney personal loan?

Harmoney’s business is 100% online, so to apply for a loan, you can visit the Harmoney website and click the button to begin the application process. You can also call Harmoney on 0800 427 666 on weekdays. Typical pieces of information you may need to include in your application include:

  • Valid proof of identification, such as your passport or drivers licence
  • Proof of income
  • Your typical expenses such as rent/mortgage payments, household costs, insurance etc.
  • Any current outstanding debts and credit history

You’ll also need to meet the following requirements:

  • You must be a natural person (i.e. not a company or other legal entity)
  • You must be an Australian citizen or permanent resident, or New Zealand citizen with a valid Australian driver licence or valid Australian passport;
  • You must be over 18 years of age when applying

Before taking out a personal loan, make sure you read up on what to think about before you apply. To find out how much you could afford to borrow, check out Canstar’s personal loan repayment calculator.

Harmoney FAQs

Interest is accrued daily on the outstanding balance of your Harmoney personal loan; this means that paying off your loan early could save you money by incurring less interest.

Typical payments can be made either weekly or monthly for your Harmoney personal loan. However, you can choose to make repayments early whenever you desire. You can also choose to pay off the entirety of your loan early if you choose; simply log into your online dashboard and request a prepayment quote.

Harmoney is a New Zealand-owned marketplace lender which claims to be Australasia’s leading marketplace lender. Founded in 2014 as a challenger to the lending practices of the big banks, the company operates in both New Zealand and Australia. Harmoney provides marketplace or ‘peer-to-peer’ lending whereby personal loans for borrowers are funded by prospective investors. Investors’ funds are diversified across multiple loans to reduce risk, allowing them to experience significant returns and borrowers to experience competitive interest rates and good service.

Harmoney - Unsecured Loan Excellent Credit

Canstar Research
Award: 4 Star Rating Personal Loan

Unsecured Loan Excellent Credit

Unsecured Personal Loan

View the 2018 Personal Loans Star Ratings Report

Written by: Sam Bloom | Last updated: November 19, 2018

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