The Application Process

Before you can list your personal loan in the Marketplace, you must first put in an application to Harmoney. We assess each application and give each approved Borrower a personalised quote, including interest rate and borrowing limit. You then have 60 days to decide whether to list your personal loan or not.

How to list a personal loan in the Harmoney Marketplace


Before you can list your loan in the Harmoney Marketplace we need to complete a quick assessment. This is a legal requirement, but it's also for your protection - both to ensure that you can afford the loan, and also to ensure no one is attempting to borrow money under your name without your permission. This process is 100% online, so you can complete it without leaving the couch! The steps are:

Create an account


Once you've used the Personal Loan Estimator to choose how much you would like to borrow (and what for) you need to create a Harmoney account. All we need is a name, active email address, and a password.

You will then be sent an email to the address provided asking you to verify your email.

Simply click the button in the email and you will be re-directed back to our site, where you will be prompted to create a Security Question - this is what we'll use to verify you if you ever forget your password.

Step 1: Verify your identity

cond approval

First we need to verify your identity and check it against the New Zealand credit bureaus, this is a legal requirement (to ensure you're not bankrupt etc), but it also ensures no one can apply under your name without your permission.

For this step in the application process you will need:

  • A valid New Zealand Drivers License, or
  • A valid New Zealand Passport.

Approval should only take a minute to come through, so don't go anywhere!

Step 2: Verify your income

credit sense

Next we need to verify your income. We do this by assessing your bank statements from the last three months.

To process your application as quickly as possible, we use Australasia’s leading secure online bank statement retrieval service - Credit Sense. This process does not give Harmoney access or control over your bank accounts; it simply retrieves an electronic copy of your bank statements.

If you wish to skip this step, you will have to verify your income and identify via another step later in the application.

Step 3: Verify your Financial Details


We're almost there! We just need to know about your financial assets and liabilities. This will help us determine how much you can comfortably afford to borrow. For this stage we will need to know:

  • All income sources
  • Assets (e.g. house, investments, savings etc.)
  • Liabilities (e.g. credit cards, personal loans etc.)
  • Mortgage or Rent (Note: this should not be listed in liabilities)

From here, your application will be sent away for final approval, and you will be notified by SMS message and email. You may also add a Co-Borrower at this stage in the process. Click here to learn about Co-Borrowers.

Step 4: Payment Protect


Once your personal loan has been approved, you will be given a Loan Offer page, which shows you how much you can borrow and what your personalised rate it. You don't have to accept straight away, in fact you have 60 days in which you can come back and submit it to the marketplace at any time.

You are also offered the chance to add Payment Protect to your loan. This is a repayment waiver which offers you financial protection in case of involuntary redundancy, bankruptcy, disability, terminal illness, or death.

Click here to learn more about Payment Protect.

Step 5: List your personal loan


That's it! Once you have accepted the offer, you can list your personal loan in the Marketplace. But before you do, you are given the chance to tell the Investors why they should fund your loan.

In a way, this may be the most important step in the process; this will appear as the hero piece of your listing in the marketplace, so don't leave it blank!

Additional steps that you may need to complete

Netverify - an alternative to Credit Sense


If you choose not to use Credit Sense, we will need to verify your identity and income through an additional stage.

To verify your identity we use an online system called 'Netverify'. This is an automated system that requires you to provide a photo of your ID, plus have access to a webcam so we can use facial recognition software to authenticate the ID.

To verify your income, you will still need to provide us with 3 months worth of bank statements, which you can upload as a PDF.

Click here to return to Step 2.

Adding a Co-Borrower


You have the opportunity to add a Co-Borrower to your application. This essentially means that two people are applying for the personal loan instead of one.

If you choose to add a Co-Borrower to your personal loan application, they will have to go through a similar verification process (e.g. ID, income, financial details). They will also have equal liability in regards to the terms of the loan.

Click here to return to Step 3.

Quick Estimate

I want to borrow ...
My credit history is ...
Estimated repayments*
3 yr term
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5 yr term
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Total cost of borrowing
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Total repayments
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Interest rate*
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*Based on a 5 year term. Subject to approval and funding. Harmoney’s interest rates range from 6.99% p.a. to 29.99% 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.