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Personal loans Home improvements

Home improvement loans

Start turning your house into a home.

Fixed interest rates from 6.99% p.a. to 19.99% p.a.(plus an establishment fee of $150).¹

Won’t affect your credit score

Canstar winner 7 years in a row
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Finance your home renovation with less worry

Get a renovation loan up to $70K and bring your vision to life.

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

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

What our customers say

5.0 Thank you so much, Harmoney; you helped us out of a tight spot when we got an unexpected house repair. Highly recommend Harmoney new zealand
5.0 I've ran out of $$ while still on my vacation!!! Need some to tie me over till I return home.

Hopefully, this will come through soon. But the process was less stressful.

Thanks Harmoney
new zealand
5.0 Always been absolutely fantastic service. No issues. No hang ups. You pay your instalments and build your credit rating and Harmoney will be there in the times you need them. new zealand
5.0 Thanks for the quick but thorough process with the result being a favourable outcome for our renovation plan. new zealand
5.0 Thank you so much. We are able to purchase the items for our house now. Fast, Effective and Efficient!. I love it! new zealand
5.0 Nice & easy, didn't feel embrasssed about applying as all done in the comfort of my home. Didn't have to explain why I needed to do what I did which was a relief. , new zealand
5.0 Extremely grateful to Harmoney staff and lenders. I feel important, valued, and worth the investment for my home improvements.
Thank you very, very much for being so kind.
new zealand
5.0 Great to be able to consolidate debt so easily (due to my high credit score rating), all of it done online. This is the 3rd time I have done this and it seems to get easier each time as I get more experienced at filling out all the information required.

Repayment schedule is more than reasonable and I'll have plenty of opportunity to pay back the full loan with my house due to be sold at the end of 2023. This debt consolidation will give me more opportunities for home improvements before I sell so I am really likely to make back all my money (including interest repayments) long term. It's certainly one of the safest financial decisions I have made in my 40 years of banking etc.. (i.e. I am 60 years old)

Additional Comments (post-loan completion)
Thanks hugely for funding my most recent loan consolidation. There are lots of reasons why I did this through Harmoney:

Firstly, I was able to borrow money from Harmoney that I could not get from my bank even though my credit rating was 1000. I can understand their cautious approach as an owner/occupier but their approach didn't benefit me. The reality is that I'll be selling my home in 2.5 years anyway and I needed to take some calculated risks financially to do that anyway. The term of my loan with Harmoney is 5 years so it's going to be pretty satisfying to pay all the money back - $40 000 at the beginning of 2024.

Secondly,the ease with which all of this can be done online. True, I am a digital technology teacher and therefore familiar with dealing with most of the questions but what I was not prepared for was the speed of the whole process.It's quite sobering how fast credit checks and bank accounts can be completed when done with digital technologies

Thirdly, I quite liked the fact that I didn't have to front up to a bank mortgage broker face-to-face as it's a lot of avoidable emotional energy that I don't want to spend there (and it's never pleasant getting a 'no' to both parties).

Fourthly, if my application failed here with Harmoney, few would know - my bank would be none the wiser anyway - but the same learning would still have taken place for me which in turn would have helped me set new goals anyway, financial and otherwise.

I'm still not close to my financial goals for my lifetime but I'm still a lot further ahead than most my age in planning and providing for my retirement. Investing in my ChCh house will certainly help bring it up to a better standard when I'll be selling it in 2.5 years (Christmas 2023)

Thanks again for financing this and I am quite sincere in this. The reality is that no bank would have advanced this money for me and you are the best of all the NZ lenders that I have dealt with in my time as an almost 60 year old.

Canterbury, New Zealand
5.0 Never easier to consolidate loans in the comfort of your home with no phone calls. new zealand
5.0 Thank you mum will be so happy with her renovations New Zealand
5.0 Impressive. I've used your lending services before and it really has been as very smooth indeed.

I guess I felt a little frustrated that I was not able to include the $640 that I was earning each week through tenancies at the (one) house I own (that's an additional income of $33280 before tax). I gave it several attempts through your portal but just couldn't seem to do it. In the end I gave up and just crossed my fingers that my current income (teacher's salary) was going to be enough to get me over the line - and it was!

Phew; a really amazing feeling tbh
New Zealand
5.0 Thank you Harmoney, this was a stress free and also hassle free especially if you work fulltime. Will definitely use this again at times of need. I am able to move into my new home without that added stress!! Highly recommend!! New Zealand
5.0 Thank you absolutely appreciate what Harmoney has given me now I can renovate my homes to increase valuation thank you so much... New Zealand
5.0 Harmoney is really easy to deal with and we appreciate the progress we're able to make on our home renovations with no fuss. The staff are super friendly and helpful too. Many thanks. New Zealand
5.0 Excellent process and your interest rates are very competitive, I would definitely relook at using your services in the future for further consolidations and house renovations. New Zealand

100% online renovation loan

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.

2. Get your quote

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

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.

What we offer

$2K - $70K

Loan limits
3, 5 or 7 years

Loan terms

Establishment fee

Early repayment fee
  • Fixed interest rates from 6.99% p.a. to 19.99% p.a.¹
  • Establishment fee of $150
  • You can repay weekly, fortnightly or monthly
  • Your rate is fixed for the life of the loan
  • All loans are unsecured

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

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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.

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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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 online 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 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 loan terms being accepted (based on loans submitted in 2021).