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Personal loans

debt consolidation LOANS

The easy way to simplify your debt

Personalised rates from 6.99%¹
(comparison rate 7.79%)²

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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 Thank you for the non-judgemental and easy application of this loan process. I am very appreciative of this opportunity to consolidate my personal loan and credit card debts into the one repayment so that I can at times pay off more and pay the loan off early. Thank you Harmoney. I am so very grateful. Vic, Australia
5.0 easy and convenient, Lenny was great on the phone Vic, Australia
5.0 Lenny was great and very helpful Thank you Qld, Australia
5.0 You are an awesome group to deal with for loans. Also great after sales service, if needed. Qld, Australia
5.0 Great customer service, very fast approval WA, Australia
5.0 Really quick and easy so far. Not having to provide pay slips and have everything automated via bank account look ups is fantastic. Great service and simple to follow the steps. All done in less than an hour. 5 stars Vic, Australia
5.0 Great so far - money in my account! No stress! NSW, Australia
5.0 great company and easy to apply thank you, there are not alot of companies out there that cater to people on a pension even though they say they will! This company is different and I like the ability to change the options anytime throughout. Thanks Harmony! NSW, Australia
5.0 Harmoney au has great customer service people who are very helpful and very easy to deal with. I would recommend Harmoney to anyone. NSW, Australia
5.0 Easy, fast and thoroughly the best process I've ever done. At first I was a bit nervous about doing everything online but it was amazing everything was a flawless process, so easy very professional and fast, will never use a bank again, the rate was very good and the terms and conditions great Vic, Australia
5.0 User friendly website and great customer service. Vic, Australia
5.0 It was the best so easy and simple it's great NSW, Australia
5.0 Great service at my finger tips. WA, Australia
5.0 Thank you
Great to find you.
Qld, Australia
5.0 A great service, fast and efficient. Highly recommended Vic, Australia
5.0 just happy to not have to worry about money and I now have a buffer of savings
don't want to be in debt like everyone else is or worry about what,s due and when
WA, Australia
5.0 Great Vic, Australia
5.0 This is the easiest loan I have ever applied for, its a great system.2nd time applying, loan was approved and in my account by the end of the day. Definately will tell others about you
Will always use you when in need.
Qld, Australia
5.0 Great NT, Australia
5.0 Great service Qld, Australia
5.0 It was great and quick NSW, Australia
5.0 Great service with user friendly tools and customer service great to talk to NSW, Australia
5.0 Easy to interact with and very straight forward. The processes were quick and well organised. Congratulations to the team for great customer service and spot on communication.

Qld, Australia
5.0 Very strong, accurate system , high professional on line system , friendly staff, good communications , great web design , easy and fast security check system .

It is a great efforts got you on the lead .

Thank you very much
NSW, Australia
5.0 This is such a quick and easy process. Super efficient. As long as all your online documents are in order it'll take maybe ten minutes for approval. I was approved and fully funded within two hours. So simple yet with great rates and terms too. Qld, Australia
5.0 I think Harmoney is a great lending platform which has quality staff who attend to your every need, thanks Harmoney appreciate your guidance throughout the application. WA, Australia
5.0 Very easy process and very quick! Great interest rate and excellent service. Highly recommended. WA, Australia
5.0 Great service great rates great product well done NSW, Australia
5.0 Great experience so far. Really easy to use. Qld, Australia
5.0 Great customer service with Lenny. All questions answered. Very happy with the whole loan process. Thankyou. NSW, Australia
5.0 Great facility, excellent website, easy process. A very sleek and professional company - service was excellent and funds received very quickly and efficiently. Very happy and would thoroughly recommend. NSW, Australia
5.0 Excellent and with great ease. NSW, Australia
5.0 Great Step by Step Process for Approvel Qld, Australia
5.0 Very easy to understand and receive the loan I was looking for, great rate as well. NSW, Australia
5.0 Fast efficient service, cannot fault in any way, so happy I managed to find someone willing to help me consolidate my debts with a very fair interest rate. Would definitely recommend to friends and family and would certainly use their services again if the need ever arose. Vic, Australia
5.0 it has been great and the response is very quick NSW, Australia
5.0 Easy to deal with and fast approvals. Great comunication thru the process of loan Qld, Australia
5.0 To date I have found the Harmony experience transparent and efficient. They were much quicker processing the loan than the major banks and staff were responsive And punctual. I would happily recommend Harmoney to friends and family. WA, Australia
5.0 Great service, Great communication, Great rates, Approval and money in my account in 3 days cant see a bank doing that, will use again.

Thank Guys
NSW, Australia
5.0 The customer service I have receive has been great. NSW, Australia
5.0 quick and easy to apply and very quick response, loan fully funded with 24 hours so happy with the whole experience. I will be recommending them to family and friends, so much better than the banks Vic, Australia
5.0 The team at Harmoney was fantastic. The service they provided was very efficient and the process was so quick that my application was approved within 2 days. I will definitely recommend Harmoney. Thank you for the great service! NSW, Australia
5.0 So fast and simple - I can get my finances and my life in a straight line now - couldn't be more grateful to the Harmoney Team.
Great communication and service.
WA, Australia
5.0 Great service Qld, Australia
5.0 Easy, quick and great experience . Thanks ! Qld, Australia
5.0 This was a straight forward and easy to follow procedure...with a great response time..would recommend Harmoney ....5 stars NSW, Australia
5.0 Great service professional and would absolutely recommend harmony to my friends and family they understood my needs and were willing to help, very friendly approach excellent staff satisfaction 10 / 10 in my book thanks harmony team. Qld, Australia
5.0 Very impressed so far. Great idea. The interest rate came back higher than expected but still a little cheaper than my bank and the service was very good. Qld, 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 6.99%¹ (comparison rate 7.79%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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100% ONLINE – 24/7

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

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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.

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.

make memories v2

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

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personalised rates v8

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

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debt free v5

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

Find out more

unsecured car v3

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

Find out more

start now

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

Find out more

simplify v9

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

wedding prepare

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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stress less v3

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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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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