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Home improvements loan

Stress-free renovation loans

Personalised rates from 6.99%¹

Won’t affect your credit score

Canstar winner 5 years in a row
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Finance your home renovation with less worry

Get a renovation loan up to $50K and bring your vision to life

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With no need for quotes from tradies, we can approve your home improvement loan quickly and get your renovation started.

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Get your home improvements loan approved online and start turning your renovation dreams into reality.

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At Harmoney, our home improvement loans are unsecured so don’t put your assets at risk.

100% online renovation loan

Step 2. Get your quote

We’ll send you a personalised quote containing your loan term, interest rate and repayment plan for your approval.

Step 3. Get your money

Once we get the go-ahead from you, we’ll collect some final details and should have your approved loan to you within 24 hours.

Step 1. Get to know you

We just need a few personal financial details and some information on what you need for your home improvement plans.

What we offer

$2K - $50K

Loan limits
3 or 5 years

Loan terms
$200 or $450

Establishment fee

Early repayment fee
  • All loans are unsecured
  • Rates from 6.99% p.a. – 24.69% p.a.¹
  • Your rate is fixed for the life of the loan
  • You can repay weekly, fortnightly or monthly
  • Establishment fee of $200 for loans under $5,000 ²
  • Establishment fee of $450 for loans $5,000 and over ²

Find out more about our rates and fees

Home improvement loans customised to your needs

With a renovation loan from Harmoney you are one step closer to achieving your home improvement goals.

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Most loans are fully funded within 24 hours of approval, meaning you can get to work almost immediately.

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100% ONLINE – 24/7

Complete your application online anytime and be done in minutes.

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Your fair, personalised interest rate will be calculated based on your individual credit assessment.


Common renovation loan questions

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Why use a personal loan instead of increasing the mortgage?

Low interest rates associated with mortgages can be tempting, but borrowers need to consider the loan term as well as the rate. Miscalculating can cost thousands of dollars in extra interest paid when a long-term loan is involved.

If you’re considering topping up your home loan to pay for renovations, read our post How extending your mortgage can hurt and why it can be more cost-effective to use a personal loan:

Will I need to put up my property or vehicle as security?

No. All Harmoney loans – including our home improvement loans – are unsecured, so you won’t need to put up collateral for your loan.

Can I use a home improvements loan for DIY projects?

Yes, a home improvement loan is well suited to the home handyperson and DIY projects. You can use your renovation loan to buy materials, purchase or hire tools or hire tradies and other professionals such as an electrician, plumber, engineer or architect. It’s up to you how you want to bring your vision to life, and a renovation loan can help to make that happen.

What can I use a home improvements loan for?

The options are as varied as your creative vision. Whether you want to renovate the kitchen or bathroom, add a new room onto the house or improve your outdoor area with landscaping, paving, a new pool, shed or garage – if you have the vision, we’d love to help you bring it to life.

Quick renovation loan estimate

Get an estimate of rates and repayments on your home renovation loan with our quick personal loan calculator.

About home improvement and renovation loans

Whether you’re looking to update your kitchen, add value to your property or landscape your garden, a renovation loan can help you achieve your goals sooner. Here are some things you need to consider before applying for a loan.

What is a home improvement and renovation loan?

A home improvement and renovation loan is a type of personal loan which you can use to finance home improvement projects, whether it’s DIY or a large-scale professional operation.

Common reasons people take out renovation loans include kitchen renovations, home repairs, putting in swimming pools, bathrooms renovations and solar panel and water tank installations.

What types of home improvement loans are available?

Unsecured personal loans

An unsecured personal loan does not require you to offer up an asset as security, which means your home, car and other assets are not collateral when you take out this type of loan.

All Harmoney loans are unsecured.

Secured personal loans

Secured personal loans require an asset to be put forward as security to guarantee the loan. In the case of a renovation loan this could be the house itself or another asset like a vehicle. If the loan is defaulted, the asset is repossessed by the loan company.

Harmoney does not offer secured personal loans.

Mortgage finance

Homeowners are often tempted to borrow extra money on their mortgage to finance renovations. While it may seem cost effective to use the low-interest rate mortgage, the savings are often negated by the far longer term of the loan when compared with a short-term personal loan.

For more information read our article on comparing interest cost and interest rate.

Things to consider about home improvement loans

What repayments can you afford?

Before applying for your home improvement loan, take a moment to consider the repayments and decide how much you can realistically afford to pay per month. As reputable lenders, Harmoney assesses your finances and takes the utmost care to ensure you can afford to repay your loan.

You can use our free personal loan calculator to get an idea of how your repayments will look to help with budgeting and planning your renovation project.

How flexible is the loan?

Harmoney loans have either three-year or five-year terms, and we know a lot can change in that time. Unlike other lenders we do not charge extra fees for paying back your loan early, so if you are able to free yourself from debt sooner than you at first thought we think that’s great.

Paying back your loan early reduces the overall cost of your renovation loan as you avoid accruing extra interest.

How much do you need to borrow?

We encourage you to consider your budget carefully before applying for a home improvement loan, as borrowing too much or too little can make things harder for you. Borrowing more money than you need means paying extra interest, while not borrowing enough money can leave you unable to finance your renovation properly.

If you require extra money, you may be eligible to take advantage of a top-up loan, which will allow you to borrow more money on top of your current loan. You’ll need to have been making regular payments on your loan for at least six months and have maintained good credit. Our team can discuss your top-up options with you.

Kick off your renovation project today

Whatever your renovation project is, we can help make it happen.

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Whether you’re upgrading, downsizing or getting ready to sell, a renovation loan can give you the means to achieve your home improvement goals.

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We're real people and here if you need us

If you need help, just give us a call on 0800 427 666 or jump on to live chat and one of our more than 30 specialists will be there to lend a hand.

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Terms and conditions

1. Subject to approval and funding. Harmoney’s interest rates range from 6.99% p.a. to 24.69% 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. 99% of loan applications are funded within 24 hours of loans terms being accepted (based on loans submitted in 2018).

2. Establishment fee of $200 for loans from $2,000 to below $5,000 and $450 for loans from $5,000 to $50,000. Fixed rates range from 6.99% p.a. to 24.69% p.a. on 36 to 60 month terms, with no early repayment penalties.