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Personal loans Debt consolidation

debt consolidation LOANS

The easy way to simplify your debt

Personalised rates from 5.35%¹
(comparison rate 6.14%)²

Our latest awards
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We make consolidating debt easier and fairer

Refinance debt 100% online in a matter of minutes.

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Roll multiple debts into one, so you only have to deal with one interest rate and one repayment schedule.

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Refinancing high-cost credit like credit cards and store cards can help you break free from the debt spiral.

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With our fair, personalised interest rates, you may qualify for a better rate than you’re currently paying.

What our customers say

5.0 great Australia
5.0 Great service Australia
5.0 Fastest, easiest application I've ever done. It is great having online chat feature available for any questions and to fix any problems with application. Thank you for your service, I'm finally on my way to financial freedom! Australia
5.0 Easy to follow instructions great Customer Service Australia
5.0 This was so quick! Can't believe how quick! I am totally going to recommend Harmony Finance to all my family and friends. Thank you! Australia
5.0 Fast easy process, people there to help via live chat or email through the entire process great help, thank you! Australia
5.0 Great service Australia
5.0 Quick and easy application with great customer service Australia
5.0 The customer service officer was polite and great help. we have used you before and find it easy .Would recommend to other people Australia
5.0 the people I emailed were great Australia
5.0 Very quick and easy. I am a busy person so this was the perfect way to consolidate my debt with the least amount of fuss and red tape. Australia
5.0 Great service Australia
5.0 Finally, A seamless way of consolidating debts into one monthly payment! Australia
5.0 So easy, thanks for great service Australia
5.0 Great Australia
5.0 Great service Australia
5.0 That was so easy and your rates are great too! Australia
5.0 Thank you great and quick service Australia
5.0 Very helpful people, great customer service Australia
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5.0 Great! Australia
5.0 Great Australia
5.0 So simple, straightforward and easy to use. I think the service is great. Australia
5.0 Great service Australia
5.0 Appreciate the review and contact in order to assist me in my goal of consolidation Australia
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5.0 Great service and very quick turnaround and very easy Australia
5.0 This was a great experience Australia
5.0 Communication was great! Fast and easy process, thankyou! Australia
5.0 Harmoney makes consolidating debt fast and easy, relieving the worry of dealing with multiple accounts Australia
5.0 Great service, efficient, friendly and helpful. Thank you Australia
5.0 Easy to read and understand, will recommend Harmony to friends and family Australia
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5.0 So easy and no stress. Great people to deal with Australia
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5.0 Great Service - thank you very much Australia
5.0 Great support as always and follow up phone calls to assist and support Australia
5.0 Very helpful and great rates Australia
5.0 Great Australia
5.0 Great thank you Australia
5.0 Great Australia
5.0 Fast easy and great to deal with! Highly recommended!!! Australia
5.0 We were drowning in debt due silly choices when we were young and dumb
This save sus and our kids thanks!!!
5.0 Very satisfied with harmony experience I had is that they worked very quickly and I would recommend harmony to my friends and thank you again Australia
5.0 Always great service Australia
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5.0 Really great service and happy to continue with Harmony..Highly recommend Australia
5.0 Absolutely fantastic process and customer service. Definately will recommend to friends! Australia
5.0 Great Australia
5.0 Great thank you Australia
5.0 Quick and easy and great to deal with over the phone. Australia
5.0 Extremely easy, smooth and fast process! I have used Harmoney in the past and have told my family and friends to go with Harmoney! Australia
5.0 Great easy service Australia
5.0 So far, the reviews are correct. Great service, easy. Thank you! Australia
5.0 Great service and follow-up. Very quick response to any questions. Easy online application process Australia
5.0 I got a great rate so quickly. I am finally feeling that my good credit score is working for me!! Australia
5.0 Very easy form all the way to approval was an awesome experience and saved me a big headache with regards to paying back debt. Australia
5.0 Absolutely fantastic. Great communication by the team. They had a genuine look into accounts and made sure things were good to go. Australia
5.0 Great experience. Great customer service . Quick response. Thank you Australia
5.0 great quick service Australia
5.0 WHat a brilliant seamless experience! Well done on designing a great site, process and service. This is how lending should be! Australia
5.0 great company and so easy to apply Australia
5.0 Mia was helpful and great to deal with Australia
5.0 Great Service Australia
5.0 Thank you for all your help in making it clear fast and an easy process a great experience Australia
5.0 great service, easy and fast to do Australia
5.0 Great thank you Australia
5.0 These guys are great quick and understanding in every situation A1 service! Australia
5.0 Wow, outstanding online process. I found this lender via and they rated this lender in their top 10. I would rate them number 1 Australia
5.0 Great website and really fast. Nothing is hidden. Only down side is the high interest rates. All in all a good service. Australia
5.0 Great experience, easy to use, quick response! Australia
5.0 Great service, really helped out in a jam. Thank you so much! Australia
5.0 Easy, and truthly a great organization to deal with.....5 stars Harmoney... Australia
5.0 So easy to deal with and great service and attention to detail Australia
5.0 Easy application process. Great experience. Australia
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5.0 Great service. Australia
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5.0 great experoence Australia
5.0 Great. Simple and easy to follow Australia
5.0 Great rate, easy application, quick approval, and the approval was for the amount they would lend me, not what I asked for. I had forgotten something I wanted to get done and didn’t include In the loan amount, and thought I had missed out. But now I can do it to because I increased the amount once I got the loan offer. Too easy. Australia
5.0 Super quick approval, great support, extremely helpful Australia
5.0 Great service thank you Australia
5.0 The process for applying, repaying and tracking my debt has been excellent Australia
5.0 Been great Australia
5.0 Very competitive rates, great customer service Australia
5.0 Great service very quick! Australia
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5.0 It was quick and efficient and Lenny from customer service was such a great help. Australia
5.0 Great Australia
5.0 Great Australia
5.0 wow how easy was that - I was ready with all my paperwork to send to you but being able to enter my details and you check it online - amazing. What a great service. Australia

Simple, 100% online

Step 1. Get to know you

We need to know about you, your finances and your goals for consolidating debt – to save on interest or simplify your repayments.

Step 2. Get your loan offer

Your loan offer provides detailed terms such as interest rate, borrowing limit, repayments and total cost of borrowing.

Step 3. Get your money

If you’re satisfied with your loan offer, we’ll get some final details from you to complete the application. Most people receive their money within 24 hours of approval.

What we offer

$2K - $50K

Loan limits
3 or 5 years

Loan terms
$275 or $575

Establishment fee

Early repayment fee
  • All loans are unsecured
  • Rates from 5.35%¹ (comparison rate 6.14%²)
  • Your rate is fixed for the life of the loan
  • Establishment fee of $275 for loans under $5,000 ³
  • Establishment fee of $575 for loans $5,000and over ³
  • No monthly account keeping or early repayment fees
  • You can repay weekly, fortnightly or monthly

Find out more about our rates and fees

Debt consolidation loans that work for you

Take a big step towards a debt-free future.

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Interest rates are based on your individual credit assessment, not one-size-fits-all.

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Most loans on Harmoney are fully funded within 24 hours.

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100% ONLINE – 24/7

Your loan application is 100% online with no awkward face-to-face meetings.

Common debt consolidation questions

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What is debt consolidation?

Debt consolidation is wrapping up multiple loans into a single loan with one regular repayment. Consolidating debt can help to make your life easier, as well as give you the chance to lower your interest payments and avoid penalties for missed payments.

Why do you need to know my goal when I go for a debt consolidation loan?

Knowing what your financial goals are means we can help you to meet them.

A debt consolidation loan from Harmoney could help you achieve one or more of the following:

  • pay less interest

  • make smaller repayments each month

  • simplify your debts with one easy-to-manage loan

Can I repay my debt consolidation loan early?

Yes. You can choose to pay back your debt consolidation loan early if you want to, with no early repayment fees. We encourage borrowers to pay off their loans sooner if they can, so they can save on interest costs and enjoy freedom from debt.

How many debts can I consolidate?

You can consolidate as many debts as you want to with a debt consolidation loan, as long as these are covered by the maximum loan amount. Each borrower’s loan limit will be based on their individual circumstances.

Should I use my mortgage to consolidate debt?

Taking advantage of a low mortgage rate can be appealing and is an option worth considering. However, any benefit a low rate may provide could be lost if the amount borrowed is paid back over a longer term with more interest payments. Consolidating debt using a home loan but continuing to make the minimum mortgage repayment could mean you end up paying a lot more for the privilege.

What is the difference between debt consolidation and refinancing?

Debt consolidation and refinancing are very similar, as in both cases, existing debt is transferred into a new debt so the borrower can take advantage of things like a better interest rate, lower repayments or a more flexible loan term.

This is usually referred to as refinancing if only one debt is involved, such as a property loan or other high value asset. Debt consolidation normally refers to multiple loans being refinanced, but this isn’t always the case – borrowers may also use a Harmoney debt consolidation loan to “refinance” a single debt.

Consolidate debt today

Taking control of your debt is the first step to healthier finances.

About debt consolidation loans

Debt consolidation can be an effective way of managing debt and reducing stress, but it’s not a cure for all financial problems. Learning more about what consolidation involves should help you decide whether it’s the right choice for you.

What is a debt consolidation loan?

Debt consolidation is taking multiple debts – personal loans, credit card debt, Buy Now Pay Later debt or other debt – and combining them into a single loan with a new interest rate and repayment plan.

It can reduce interest and fees and make your outgoings easier to manage. It can also be used to reduce monthly repayments by spreading the loan over a longer term (though you’ll normally pay more total interest with a longer-term loan).

How does it work?

If you calculate the monthly cost of all fees and interest paid on multiple loans, it can quickly add up to a sizeable sum. There’s also the challenge of managing each of those individual loans, which often have different repayment amounts and repayment dates.

Consolidating debt simplifies this arrangement and often saves money at the same time, or reduces repayments so you’ll have more money left over to spend every month.

The process involves taking out a new loan – or extending existing credit such as a mortgage – and using the money to pay off existing debts in full. The result is the same amount of debt, but only one loan instead of many.

One loan is easier to manage than many, and with fewer fees to pay, it should be cheaper too. You also stand to save on the amount of interest you’ll pay if the new loan has a lower interest rate, or if your new loan gives you the flexibility to repay the loan faster without penalties.

A debt consolidation loan may also help to reduce monthly bill repayments and improve cash flow by spreading repayments over a longer term. Keep in mind that the total cost of borrowing will usually be higher for a longer loan term, as you’ll pay more total interest and fees.

It’s important to remember that debt consolidation doesn’t magically make your liabilities disappear, but it can be easier and cheaper than having multiple loans.

How does a Harmoney debt consolidation loan work?

When you apply for a loan, we’ll take a look at what debts you have and ask you which ones you want to consolidate. Should your loan be approved, we’ll provide you with your loan terms, including a personalised interest rate and the maximum amount you can borrow. If you accept your loan terms, we’ll do a final review of the liabilities you want to consolidate, then Harmoney will take care of paying out those so you don’t have to.

With those now paid, you can begin making regular repayments on your Harmoney loan for the term of the loan, which is either 3 or 5 years (or sooner if you wish – you can repay your loan faster than the loan term without any early repayment fees).

Things to consider if you’re looking at consolidating debt

What are your current monthly repayments?

You’ll need to know this to understand whether you’ll really be better off.

How much interest are you paying and what are the fees?

Calculating the total fees as well as the interest rate you currently pay will help you to understand the total cost of borrowing.

Will an exit fee or penalty apply to any of your current credit accounts?

These costs should be factored into the benefits of switching to a debt consolidation loan.

What is your credit like?

Your credit history can have a material effect on both your access to credit (whether or not you’ll be approved) and the cost of that credit (the interest rate).

Debt consolidation vs. refinancing

Debt consolidation is a type of refinancing and the terms are often used interchangeably. In both cases, new debt is being used to help manage existing debt. One of the key differences is that debt consolidation usually involves multiple debts, whereas refinancing is usually applied to a single debt, such as a property or other large asset.

Debt consolidation options

There are a number of options available. We cover 3 common and popular options below. What you want to achieve from your debt consolidation will help you to decide which is best for you.

Personal loan

This involves taking out a personal loan for debt consolidation or extending an existing personal loan. This is the type of loan that Harmoney offers, with simple fees, personalised interest rates and 3 or 5 year terms.

What’s more, all Harmoney loans are unsecured, so you don’t have to put up your car or house as security. Plus, you can repay a Harmoney loan earlier than planned and not face any early repayment fees – great if you want the flexibility to pay off a loan sooner than the 3 or 5 year terms.

The most important factors to consider are the interest rate and fees. The faster you pay off the loan, the less total interest you’ll pay.

Refinance using your mortgage

This is a popular option for homeowners, because low mortgage interest rates can look competitive next to the higher rate of a personal loan.

But there can be a sting in the tail – unless you’re super disciplined about repaying the additional debt within a 3 or 5 year period, you won’t see the benefits of a lower interest rate. And if you make only your minimum mortgage repayment each month, you could end up paying considerably more than with a loan.

If you’re on a floating rate, or fix your mortgage at a new rate, this can have an impact on the cost of consolidating debt.

Credit card balance transfer

Some credit card providers offer their new customers a low promotional interest rate and a high initial balance, giving people the ability to transfer existing debts to their credit card.

The important things to consider here are how long the promotional rate applies and what the rate will be once the period ends. These promotions also often have high fees to offset the low promotional interest rate.What kind of debt can be consolidated?

You can consolidate almost any type of debt, including:

  • Personal loan balances

  • Credit card balances

  • Car finance

  • Store card balances

  • Buy now, pay later balances (e.g. Laybuy, Afterpay, Partpay, Oxipay, GenoaPay)

Those are just a few examples. Wherever you have an existing debt, a debt consolidation loan could make it easier to manage.

How to get the best from a debt consolidation loan

Reduce your monthly repayments

Debt consolidation with Harmoney offers a lot of flexibility. Depending on the terms of the existing debts you have and their interest rates, it may provide a way to reduce your monthly repayments by combining multiple bills into one and spreading repayments over a longer term, such as 5 years.

Pay it off sooner and save

On the other hand, the sooner a loan is paid off the better, because you’ll pay less interest overall. To make sure you’ll save on interest, you’ll need to compare the interest rates of your existing debts with the interest rate of the debt consolidation loan, taking into account how long it will take to repay. Tools like our debt consolidation calculator can help you understand how this could work for you.

Reduce your credit limits

If you’re serious about getting debt free, another important step is to reduce the limits on any credit you have access to, such as cancelling credit cards or reducing their credit limits.

Types of loans

Harmoney has a personal loan for almost anything you need.

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Purchase a new or used vehicle. It can be a car, van, ute, motorcycle – almost any personal vehicle.

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Cover costs like fees to attend university, or accommodation like halls or residence, books and equipment.

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Simplify or refinance your debt by combining multiple debts into a single loan, making them cheaper or easier to manage.

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Don’t delay your holiday, get the cash you need for airline tickets, accommodation, travel insurance, car rental and more.

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Personal loans designed to help your small business get off the ground, step up to the next level or help with cashflow.

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Getting the medical treatment you need can be life changing. Let us know how we can help you or your family.

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Make sure your wedding day is full of wonderful memories that you and your loved ones can cherish for years to come.

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A home improvement loan can give you the finance needed for landscaping, repairs, extensions and other renovations done without delays.

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We're real people and here if you need us

If you need help, just give us a call on 1300 042 766 or jump on to online chat and one of our more than 30 specialists will be there to lend a hand.

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