LoanCon hero at 1024x520
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
MostInnovativeCompanies Logo RGB Primary
finder award 2019 v2
rate city 2020 v2
finder award 2019
mozo award 2018 v2
mozo award 2018

We make consolidating debt easier and fairer

Refinance debt 100% online in a matter of minutes.

Money fast icon v10

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

Debt con icon v14

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

Money fast icon v11

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 service australia
5.0 great service australia
5.0 GREAT australia
5.0 Helpful and succinct explanations. Easily understandable and great rates. australia
5.0 Great service australia
5.0 Great experience
Could not fault them
5.0 Great! Quick and easy process! australia
5.0 What a great user exeperience with easy to follow language and the hard work is done for you australia
5.0 Great quick service with great easy to read terms and conditions australia
5.0 Great to deal with. Would definitely recommend. australia
5.0 It was great australia
5.0 Great australia
5.0 What a great help when needed. Easy and quick. australia
5.0 The overall experience was just great I would tell all my family and friends about how you helped me and how easy it was Sydney , australia
5.0 Very easy certainly will recommend to my friends. australia
5.0 Brilliant service from the team at Harmoney. The whole process from start to finish was stress free. Definitely will be recommending their services to family and friends. I look forward to engaging with them in the future.. australia
5.0 Quick approval . Great service australia
5.0 Great help , thanks australia
5.0 Great australia
5.0 Great & very quick service australia
5.0 Great service , quick and painless australia
5.0 Great Service, Polite workers who helped when I was stuck, will use again australia
5.0 The staff is always friendly & helpful - the whole experience is great australia
5.0 Its unreal, i cant believed how fast and efficient the service, i was hesitant at first as i hate the hassles of applying in the banks but Harmoney is great. Definitely will stay with u from now on. Thank you australia
5.0 Great company australia
5.0 I really appreciate the staff taking the time to review your situation, assisting in getting other supporting documents and most importantly trying their best to get a positive overcome. This customer experience is not available with other providers. Well done Harmonry. Keep up the great customer service. australia
5.0 Great and easy to use services australia
5.0 Amazing, so quick, so easy! Great to deal with, thank you Harmoney. australia
5.0 Great and easy australia
5.0 Great experience australia
5.0 Just a great company australia
5.0 So easy and great to do everything online. australia
5.0 Customer service has been great. Efficient process. australia
5.0 Really impressed, application process was very easy and the interest rate is great. australia
5.0 Wow! australia
5.0 Great experience and to deal with.
Very friendly and only to happy to help.
5.0 Great experience.. So much better than everything else I've used before.. Quick and easy australia
5.0 The application process was much faster than other lenders and there was someone to answer any questions I had. Great website and service australia
5.0 Staff support has been great. Thank you. australia
5.0 The platform is great and the service is excellent. australia
5.0 great australia
5.0 Great to deal with australia
5.0 What great service australia
5.0 Great australia
5.0 Happy with my outcome now I have consolidated my debts and only have the one repayment .. australia
5.0 Harmoney, my heartfelt thanks for approving my top-up loan to help consolidate my debts. My financial hardship throughout the pandemic will become a little easier due to your compassionate response to my application. I will definitely recommend your services to family & friends if the situation arises. australia
5.0 easy fast and great company australia
5.0 I found my loan application very easy and super fast great work guys will highly recommend use australia
5.0 Great efficient service thank you australia
5.0 Great experience. So easy, quick and loved how someone was there to answer all my questions. Would definitely recommend! australia
5.0 Great service australia
5.0 Great australia
5.0 Great! australia
5.0 Great, easy! Lower interest rate and consolidated all debt australia
5.0 Fast & efficient service - will recommend to friends australia
5.0 Really great australia
5.0 A great follow up experience based on a previous acknowledgment to be able to access additional funds in support of my business initiatives. australia
5.0 Great services, nice and easy application. Fair interest rate australia
5.0 Great people to talk to Tas, australia
5.0 just great service and a great company australia
5.0 Fast and great customer australia
5.0 Super quick and easy, very great service australia
5.0 Great service australia
5.0 Great Service, very help staff , highly recommend Harmony for any business owner. australia
5.0 Great fast and efficient outcome australia
5.0 Easy communications via email, quick assessment and turnaround, thank you for the consolidation assistance! australia
5.0 Great service and easy promps australia
5.0 The website process is so simple, I personally liked that I did not need to speak to a consultant. I was concerned about providing bank details to a computer but it made it such a great experience. Overall very happy australia
5.0 very easy to apply and fair decision! would definitely recommend to friends and family australia
5.0 Great process! Easy, fast and simple australia
5.0 Great service and easy promps australia
5.0 Absolutely great , efficient and very fast approval. Tysm harmony. australia
5.0 Great Experience australia
5.0 Very great service very easy to use australia
5.0 Great response time australia
5.0 All went well thank you and a big pat on the back for Paulina who was a great help. australia
5.0 Great service australia
5.0 Your a great friendly company to do business with australia
5.0 The experience with this site has been great, nobody understood what I was trying to do while it was understood straight away.
Thank you so much!
5.0 Great experience so far when applying for my loan. australia
5.0 quick, fast, easy and a great deal! australia
5.0 Lenny is great, he listens to what I am looking for and fixed the issue the next day, the IT team fixed it fast and now the process is complete, Happy customer :) australia
5.0 I could not recommend Harmoney enough! Staff are very helpful and great customer service, great communication. Very easy process to complete loan application. I can’t fault at all. 10/10 australia
5.0 Harmoney has been a great help to me in achieving my goals, they are very professional and helpful with clear and fair terms and great products. Many thanks to the harmoney team. australia
5.0 Thank you for helping me. My experience with your loan company has been great and much appreciated. australia
5.0 It’s been great australia
5.0 Great quick service australia
5.0 Super quick, wow. Quicker than the Big 4 bank I've been banking with for 20plus years. australia
5.0 Thanks this will be a great help moving forward for my family and myself. australia
5.0 Great Australia
5.0 transaction so easy. thankyou. debt stress relieved Australia
5.0 Great service Australia
5.0 Great service Australia
5.0 So far it has been easy. I can't believe the ball is moving as quick as it is. Definitely will recommend to family and friends. Australia
5.0 Great service Australia
5.0 This was incredibly easy, fast and just a great service. I love that someone is there on Livechat to help through the process if you have questions! Australia
5.0 Great loan provider with friendly and caring staff! I highly recommend using harmoney. Australia
5.0 Really good, I may review further loans and consolidation with you in the near future.. Australia
5.0 Had a holiday planned and unexpectedly has large bills to pay and had to use holiday money saved. This service was quick and fantastic and took the stress off me with good repayments and low rates. Great service. Australia
5.0 Great 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.

Personalised rates icon v24

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

Time icon v8

Most loans on Harmoney are fully funded within 24 hours.

100 online icon v10
100% ONLINE – 24/7

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

Common debt consolidation questions

View more
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.

Car icon v15

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

Find out more

Education icon v3

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

Find out more

Debt con icon v15

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

Find out more

Holiday icon v13

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

Find out more

Business icon

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

Find out more

Medical icon v16

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

Find out more

Wedding icon v13

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

Find out more

Renovation icon v14

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

Find out more

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.

Customer service m wide min v3