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# Repay sooner with a shorter term

A shorter loan term means higher repayments but significantly less total interest. A Harmoney personal loan over 3 years costs less in total than the same amount over 5 or 7 years — and you are debt-free sooner.

The total cost of a loan depends on both the rate and the term. A {{currency_symbol}}10,000 loan at the same interest rate costs less in total interest over 3 years than over 7 years — the difference can be thousands of dollars. If your budget can handle higher repayments, a shorter term saves money. Use the calculator on this page to compare 3, 5, and 7 year terms side by side. And if your circumstances change, you can pay off a Harmoney loan early at any time with $0 exit fees.

## Available products

- [Personal Loan](/personal-loans)
- [Car Loan](/secured-loans)

## Popular purposes

- [Debt Consolidation](/personal-loans/debt-consolidation)
- [Home Improvements](/personal-loans/renovation-loan)
- [Holiday Expenses](/personal-loans/travel-loan)
- [Purchase Used Vehicle](/personal-loans/used-car-loan)
- [Purchase New Vehicle](/personal-loans/new-car-loan)
- [Business Cash Flow](/personal-loans/business-loans)

## What customers say about short term loan

4.8 out of 5 from 20,986 reviews
ShopperApproved (18,693) · Google (1,925) · ProductReview (368)

> "Easy process, no BS, approved the loan very quickly."
>
> — Rand E., 6 months ago (Google), 5/5 stars

> "able to get loan quickly and easily. Great help"
>
> — Allison F., 4 years ago (ShopperApproved), 5/5 stars

> "Very easy to apply for a loan and love that you can repay early without any fees"
>
> — Philip B., 5 years ago (ShopperApproved), 5/5 stars

> "Talk to a real person, real short waiting time. She understood what I wanted, no hassle. Recommend them to everyone"
>
> — Christina K., 5 years ago (Google), 5/5 stars

> "Harmoney got information of my assets, liabilities, my historical financial stability in addition to taking into consideration a short term financial situation. In comparison to other lenders that take a quick financial snap shot which isn't an accurate reflection of long term financial behaviours."
>
> — Bradley B., 4 years ago (ShopperApproved), 5/5 stars

> "Its been a pretty quick and easy process. Good so far, and I like the option to be able to repay extra."
>
> — Ayala T., 3 years ago (ShopperApproved), 4/5 stars

> "Fast efficient service"
>
> — Mario M., Yesterday (Google), 5/5 stars

> "Amazing experience. Friendly staff, quick turnaround times, easy and smooth application submission process. Couldn't recommend more highly"
>
> — Lisa W., 6 days ago (Google), 5/5 stars

> "Very good and very happy with the results and God bless"
>
> — Baptista L., 1 week ago (Google), 5/5 stars