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What happens after my personal loan is approved?

  • Writer: Harmoney
    Harmoney
  • 17 hours ago
  • 2 min read

Congratulations! Receiving approval for your personal loan is an exciting milestone. With Harmoney, the process doesn't stop there—it continues with a few simple, seamless steps to get your funds and set you up for successful loan management.

Because our process is 100% online, there's no need for any paperwork or in-person meetings. Here is what you can expect after you receive your approval notification.

Step 1: Sign Your Loan Agreement

After your loan is approved, you will be presented with a digital loan agreement that outlines all the terms and conditions.

  • What to do: Carefully read through the agreement, including your personalised interest rate, loan amount, and repayment schedule.

  • The next step: If you are happy with the terms, you will digitally sign the agreement to formally accept the loan. This is a secure and legally binding process.


Step 2: Get Your Money

Once you have signed your loan agreement, the loan is submitted for funding.


  • Timeline: The funding process is very fast. Most loans are funded within 24 hours of submission. After funding, you can typically expect the money to appear in your bank account within 1-3 business days, depending on your bank's processing times and whether an extra audit is required. We will send you a notification once the funds have been successfully transferred.


Step 3: Manage Your Repayments and Dashboard

After you have received the funds, the loan management begins. Harmoney's process is designed to give you control from a single online dashboard.


  • Repayment Setup: You will have already chosen your preferred repayment frequency (weekly, fortnightly, or monthly) during the application process. This will be automatically set up to ensure you stay on track.

  • Harmoney Dashboard: Your online dashboard is your hub for everything to do with your loan. You can log in at any time to:

    • View your loan balance and transaction history.

    • See your next repayment amount and date.

    • Access your loan documents.


Step 4: Ongoing Flexibility

A key benefit of a Harmoney personal loan is the flexibility it offers throughout the loan term. You have the freedom to:

  • Make extra payments: Add extra money to your loan at any time to pay it off faster.

  • Pay off your loan early: There is no penalty or fee for paying off your loan in full ahead of schedule.


If you have any questions at any stage after your loan is approved, our customer service team is ready to assist you.

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