top of page
Harmoney_Dot_Red_RGB.png

What fees and charges are involved with a Harmoney personal loan?

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

Transparency is a core part of our commitment to responsible lending. When you apply for a Harmoney personal loan, we want you to have a complete and clear understanding of the costs involved, so you can make the best financial decision for yourself.


The total cost of your loan is made up of two main components: the interest rate and any fees and charges. We are upfront about all of our fees, with no hidden costs or fine print.


Our Simple and Transparent Fee Structure

At Harmoney, our goal is to keep things simple. The fees and charges for your personal loan are as follows:


1. Loan Establishment Fee

This is a one-off fee charged when your loan is approved and it is added to your total loan amount. It covers the costs of processing your application and setting up your loan.


  • Amount: $150


2. Early Repayment Fee

This is a key part of our flexible loan offering.


  • Amount: $0

  • What this means for you: You can make extra payments at any time or pay off your loan in full ahead of schedule without incurring any penalties or additional fees. This allows you to save on interest and take control of your financial future.


3. Default and Late Payment Fees

These fees are only charged if you miss a payment. We are committed to helping you stay on track, so if you are having difficulty making a payment, we encourage you to contact us as soon as possible.


The Importance of Comparing Interest and Fees

When you're comparing personal loans, it's essential to look at the total cost of the loan, not just the advertised interest rate. Some lenders may offer a low interest rate but charge high establishment, administration, or early repayment fees that can add up quickly.


Harmoney's simple fee structure and our commitment to no early repayment fees are designed to give you greater control and clarity over your borrowing.



References:

bottom of page