Interest rates and fees
Fair, risk-based interest rates
Total transparency, no sneaky business
Last updated on October 7, 2020
At Harmoney, we’re 100% open and transparent about our rates and fees.
Our rates range from 6.99% p.a. to 25.69% (Comparison rate 7.79% p.a. to 26.65% p.a.)
We assess your current financial circumstances and then assign you a rate, so you pay based on your individual circumstances not everyone else's.
Get your rate
If you’re thinking about getting a loan, you can check what interest rate will apply to you through our no obligation loan application.
- During the loan application, you'll provide us with some financial information, including access to review your credit files.
- Based on an assessment of this information, we’ll assign you an interest rate.
- Then you'll be able to decide whether you want a loan at the interest rate provided.
Cost of borrowing
To help you understand the total cost of interest over the term of your loan, you can download a detailed Excel sheet or PDF which shows the total cost of borrowing for a range of example loans.
The documents include 3 and 5 year terms for loan rates and limits.
Borrowers who maintain their regular repayment schedule will not be charged any fees beyond the one-off Establishment Fee. We also don't charge any early repayment fees, so you can pay your loan off early without any penalties, plus there are no ongoing monthly account fees.
Harmoney charges an up front, one-off Establishment Fee of:
$275 for loans of below $5,000 or;
$575 for loans of $5,000 and above.
The Establishment Fee is added to the approved loan amount requested, and paid to Harmoney on settlement of the loan.
If your loan is not successfully funded, you will not be required to pay an Establishment Fee.
If a borrower's repayment is dishonoured, a $15 fee will be charged to the borrower's account for the additional administration required to re-process the payment. The fee will be due with the borrower's next payment.
If enforcement action is required against a borrower, any legal and associated third party costs incurred will be charged to the borrower account. The costs charged are due in the borrower's next payment.
Archived rates and fees
Terms and conditions
1. Subject to approval and funding. Harmoney’s interest rates range from 6.99% p.a. to 25.69% p.a. (Comparison Rate 7.79% p.a. to 26.65% p.a.) and are offered based on the individual borrower’s credit assessment according to Harmoney’s credit scorecard. In order to be approved and list your loan you must meet Harmoney’s credit criteria and responsible lending requirements. Fees, charges, terms and conditions apply.
2. Comparison rate of 7.79% p.a.to 26.65% p.a.is based on an unsecured personal loan of $50,000 over 5 years. WARNING: The comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs, fees, government charges like stamp duty, and cost savings are not included in the comparison rate but may influence the cost of the loan.
3. Establishment fee of $275 for loans up to $5,000 and $575 for loans $5,000 and over. Fixed rates range from 6.99% p.a. (Comparison Rate 7.79% p.a.) to 25.69%(Comparison Rate 26.65% p.a.) on 36 to 60 month terms, with no early repayment penalties.
4. To apply you need to be 18 years or older. Be an Australian citizen, Permanent resident or New Zealand citizen. Be a full-time or permanent part-time employed. Have handy your photo ID documents such as Australian drivers licence and passport. Have a clear credit file with no defaults, judgements or bankruptcies. Require a minimum $2,000 loan.