Freedom of choice

Freedom of choice

David found Harmoney a great option when consolidating debt.

Posted 11 August 2021.

David grew up on the Gold Coast but now with a young family he and his wife wanted a quieter slice of paradise for the family. So they upped-sticks and moved a little further north. “We managed to buy our first house up here and have another child. My wife finished her teaching degree, and we both found good, dependable jobs. Yeah - it’s worked out really well.”

After a few more years, and now established in their new home and neighbourhood, it was time to take a look at improving their finances. There was some debt and they knew it could be managed better. Debt consolidation was something they were already aware of, and how it could help by combining multiple debts – like credit cards and a vehicle loan – into a single fixed term loan. So they decided to start there.

At first, they approached their bank and previous loan providers but quickly realised things were going to be harder than first thought. “We tried Suncorp but discovered that they wont do a personal loan anymore. We went to another bank and that was far too complex - they wanted so much paperwork and information. And then they wouldn’t get back to me, so we looked at other avenues.”

Just when David thought his options were dwindling he jumped online where he soon found Harmoney. Though new to Harmoney, it only took a few minutes on our website to feel comfortable about applying for a debt consolidation loan: “We’re always really sceptical about things we don’t know so we did a bit more digging, and found the reviews of Harmoney were really good.”

David applied for his loan on a Saturday and had his loan approved one day later, on a Sunday. Not only was he super-impressed by the speedy response, he gained an appreciation of other benefits of Harmoney. With the competitive interest rate Harmoney offered him, he felt a longer loan term would also help give him and his family more options1: “My wife manages the finances and she mentioned that after the first paycheck came in that the extra money available was very noticeable.”

In addition to borrowing funds to consolidate their debt, they were able to take a little more to do some things that were long overdue: a visit to family out west and a trip to the Brisbane parks as a treat for the kids.

David is one of many thousands of customers joining the trend toward online alternatives to traditional banks and found Harmoney, who offered him more options and a dramatically improved experience. “While I’m thinking of it,” he says, “one of the big draw cards for Harmoney was that you’re not charging us a monthly fee for having the loan. It’s just a one-off fee for accessing the loan and then that’s it. Any other lender would at least be $6 a month.”

Harmoney’s purpose is to help people achieve their goals with financial products that are friendly, fair and simple to use. If a Harmoney personal loan could help you get things done, apply today.


1. Harmoney offers 3 and 5 year terms. Selecting a 5 year term reduces regular repayments compared to a 3 year term, but the total interest paid is higher due to the longer loan term. David, like many Harmoney customers, chose a 5 year term to have smaller monthly repayments.

Information, including rates, is current at the time of posting and is designed to be a general guide only. This material is not financial advice. Information provided should be contemplated with care, and you should consider whether the information is suitable for you and your personal circumstances.