What will my loan repayments be?

The size of your repayments depends on how much money you want to borrow and the length of time you choose to pay your loan back. Harmoney’s default payment schedule is monthly, but you can make payments as often as you want, and pay as much as you want, as long as the monthly minimum is met.

When you get your quote, you will be assigned a credit grade that sets the maximum loan amount you’re approved for and the interest rate that will apply. You’ll also see what your repayments will be for a 36 or 60 month loan term.

How is my interest rate calculated?

During the assessment of a loan quote or application an interest rate is assigned according to Harmoney's credit scorecard, based on your current individual circumstances. Lower risk borrowers receive lower interest rates than higher risk borrowers. It's important to note that a person's circumstances may change over time - and this is reflected in the interest rate they receive when they apply to borrow.

Find out more about our interest rates

How is the cost of my loan calculated?

The cost of your loan is calculated by the loaned sum + interest + any fees that are incurred through loan administration. Our loan repayment calculator gives you quick estimate on what you’ll have to pay.

Find out more about our fees

Try our debt consolidation calculator

Debt consolidation can make managing loans easier by bringing them together under a single monthly payment with a single interest rate. Use Harmoney’s debt consolidation calculator to get an estimate of how quickly you could pay off your debts.

Try our debt consolidation calculator now

Early loan repayment period

You can repay your loan ahead of the repayment schedule without any penalties or fees. If you have questions about how to calculate paying the remainder of your loan then get in touch with the Harmoney team via customerservice@harmoney.co.nz.