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What are the Interest Rates for a Harmoney Personal Loan?

  • Writer: Harmoney
    Harmoney
  • Sep 9
  • 2 min read

When you’re looking for a personal loan, the interest rate is one of the most important factors. At Harmoney, we don't offer a single interest rate for everyone. Instead, we provide a personalised, fixed interest rate that is tailored to your unique financial situation.


This approach ensures that we are lending responsibly and that you get a rate that is fair for you. When you get a quote from us, the interest rate you see is the rate you'll pay for the entire life of your loan, offering you certainty and peace of mind.


How Your Personalised Interest Rate is Determined

Our technology uses an intelligent, data-driven approach to assess your risk profile. This allows us to provide a competitive rate based on your individual circumstances. The key factors that influence your personalised interest rate include:


  • Your Credit Score and History: We review your credit file to see your history of managing debt. A higher credit score generally indicates a lower risk, which can lead to a lower interest rate.

  • Your Income and Expenses: We securely look at a read-only snapshot of your bank statements to understand your income and spending habits. This helps us ensure the loan repayments are affordable for you.

  • The Loan Amount and Term: The size of the loan and the length of the repayment term (e.g., 3, 5, or 7 years) also play a role in determining your final interest rate.


Because our rates are personalised, the only way to know your exact interest rate is to get a quote.


The Difference Between a Personalised Rate and a Generic Rate

Many lenders advertise a broad range of interest rates, but only a small percentage of customers may be eligible for the lowest rate. This can be frustrating for borrowers.


At Harmoney, the rate you see in your quote is a guaranteed rate that is specific to you. It's a key part of our commitment to being a transparent and fair lender.


What to Consider Beyond the Interest Rate

While the interest rate is a significant factor, it's just one part of the total cost of a loan. You should also consider:

  • Fees and Charges: Check for establishment fees, administration fees, or early repayment fees. Harmoney is transparent about all fees, which are included in your quote, and we never charge a fee for early repayment.

  • Repayment Flexibility: Look for the option to make extra repayments without penalty, which you can do with Harmoney, as this allows you to pay off your loan faster and save on interest.


You can learn more about our specific fees and charges on our dedicated Personal Loan Fees page.


The best way to compare your options and find the right loan for you is to look at the total cost of the loan, including all interest and fees. You can find independent loan comparisons on sites like Sorted.org.nz and Canstar New Zealand.



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