OneMain Financial: Personal Loans Review

  34,666 Reviews on Trustpilot

OneMain Financial Snapshot

OneMain Financial is the largest lending-exclusive financial institution in the United States. With approximately 1,600 branches spread throughout 44 states, the company offers affordable, safe, and transparent loans to millions of Americans.

Personal loans are often granted for debt consolidation, household bills, medical expenses, home improvements, and auto purchases.


OneMain Financial Spotlight

Best For
Those with lower credit scores who need a smaller loan

Marketplace or Direct Lender
Direct lender

Loan Types
Debt consolidation, home improvement, medical bills

Loan APR
18% to 35.99%

Repayment Terms
24 to 60 months

Summary

OneMain Financial is a direct lender who offers personal loans across 44 states. Their loans range from $1,500 to $20,000, which are quite small compared to the most popular lenders in the US. However, OneMain Financial allows borrowers between 24 and 60 months to pay off loans.

One of the main downsides of OneMain Financial personal loans are the high minimum interest rates, which start at 18%, while many other lenders start around 6% to 9%. OneMain’s maximum APR is 35.99%.


Loan Types

OneMain offers personal loans that can either be secured or unsecured, which means you can put up collateral through a secured loan like a vehicle title or a home. Other collateral options could be a boat, camper, or RV.

However, if the borrower defaults on the loan, OneMain could keep the collateral as repayment. The main benefit of a secured loan is that it’s a lot easier to qualify than a secured loan. It’s also much more likely to guarantee you a lower interest rate on your loan.

In a few states, OneMain Financial’s borrowing limits for unsecured loans are much less than $20,000. In the state of North Carolina, the unsecured loan amount is limited to $7500.


Personal Loan Rates & Terms

OneMain offers loans that range anywhere from $1,500 to $20,000. The personal loans only carry fixed annual percentage rates, or APR. The APR can range from 18% to 36.99% which can depend on your creditworthiness.

Your interest rate quote is based on multiple factors, including your income, debt, credit history, and amount of collateral (if you’re applying for a secured loan). The amount you’re requesting and your repayment terms (24 to 60 months) also impacts your interest rate.

One major benefit to using OneMain Financial is that they don’t technically disclose a minimum credit score required to be eligible for a loan. This means even if you have less than ideal credit or a limited credit history, you may still be able to qualify for a loan. If you are in this boat, you’ll most likely be required to put up some form of collateral which would offset your less than ideal credit or limited credit history.

Something different about OneMain Financial compared to other lenders is that it charges an origination fee that’s built into monthly payments. Typically speaking, an origination fee is charged upfront at a set percent.

For instance, with other lenders, if they charge an origination fee of 5% on your loan of $10,000, once your loan is approved, $9,500 will be transferred to your bank account instead of the complete $10,000.

With OneMain, let’s say you’re charged a 4% origination fee. If you secure a $10,000 loan at 18%, your monthly payments over a 60 month period would be $196.66. Instead of paying a $400 up front, it would bring your monthly total to $203.33 per month.

OneMain’s origin fees vary from state to state. It’s important to note that you won’t be penalized for paying off your loan early.


OneMain Financial Pros

  • Doesn’t require a minimum credit score
  • Great customer service
  • In-person help
  • 1,600 branches
  • Offers joint and secured loans
  • Funds loans by the next business day
  • Origination fee is built into monthly payments

OneMain Financial Cons

  • Higher rates compared to other lenders
  • Charges an origination fee
  • Smaller loans (capped at $20,000)
  • Larger loans require collateral.
  • You have to visit a branch to complete your application

OneMain Financial Application Process

In order to apply for a OneMain Financial personal loan, simply fill out the quick application online which includes the following steps:

1. Visit OneMain Financial’s website and start the online application. You’ll enter your basic personal information.

2. Submit your desired loan amount, the purpose, your net monthly income, employment information.

3. You’ll receive an instant response with more information on your loan details.This is a soft credit pull so there won't be any impact to your credit.

Once you’ve been approved for a loan and you agree to the terms, you’ll then go into a OneMain Financial branch for an in-person interview with a loan specialist. They will verify your identity and financial information before finalizing the loan. If you need to provide collateral for the loan, now is the time to bring it.

They will then perform a “hard” credit check to verify your details and it will impact your credit score. Then, the loan will be transferred to your bank the next business day.


Customer Support

OneMain Financial has some of the best customer service of any lending company in the US. Not only do they have free financial education resources online like a blog, FAQ, and more, but they also have a mobile app to manage your loan.

You can reach them by phone or email.

Plus, something that sets OneMain apart from other lenders is the fact that they have physical locations across the US. This means if you want to ask questions or inquire about a loan in-person, you can visit one of 1,600 branches across 44 states.


Final Thoughts on OneMain Financial

So, should you use OneMain Financial to access a personal loan?

Overall, OneMain Financial is one of the best lenders in the US. In fact, they’re the biggest financial institution in the US dedicated to lending exclusively.

However, OneMain Financial isn’t right for everyone.

They have high minimum interest rates on their loans. Plus, they also have some of the lowest maximum loans available for borrowers.

But, where OneMain Financial shines is their friendliness to those with less than ideal credit or little credit history.

Even though interest rates are higher and loans are smaller, they cater to those who don’t have the best credit which means higher odds of qualifying for a loan. They don’t have a minimum credit score requirement since they allow applicants to put up collateral on their loans such as their car, boat, or RV.

OneMain also offers some of the best customer support of any lending company in the US, which means you’ll likely get the help you need regardless of your situation.


FAQ

What requirements does OneMain have when applying for a loan?

Before you finalize your loan with OneMain, you’ll be asked to provide proof of the following documents:

  • Proof of residence (i.e. driver’s license, utility bill, lease)
  • Valid, government-issued ID (i.e. passport or driver’s licence)
  • Proof of income (i.e. pay stubs or tax returns)

You may be asked to provide further documentation on a case by case basis.

How will the loan be transferred to me upon approval?

You can choose to receive your loan either by:

  • Direct Deposit: The funds are transferred directly into your checking or savings account.
  • In-person: You can receive a check at your local OneMain branch.

See Disclosures

One Main Financial Customer Testimonials

Excellent   34,666 Reviews

trustpilot-stars

JANISE

9 hours ago

trustpilot-stars

I received a follow up call first thing…

I received a follow up call first thing in the morning after filling out the online application the night before. Such wonderful helpful people!


CHARLES T

9 hours ago

trustpilot-stars

So far so good we'll have to wait & see

So far so good we'll have to wait & see


MARIA M

17 hours ago

trustpilot-stars

Receive great help thanks 😊

Receive great help thanks 😊


PAULA F

19 September, 2021

trustpilot-stars

Needed money in a hurry for a sick dog…

Needed money in a hurry for a sick dog with cancer. Was so relieved that we were qualified for a loan that fit out budget that wasn't set with horrible stipulations.


LINDA

19 September, 2021

trustpilot-stars

Very friendly staff,and very…

Very friendly staff,and very fast..easy easy..thank you


MYRTLE C

18 September, 2021

trustpilot-stars

Great Service Agent

Agent was amazing.


JORGE LUIS

18 September, 2021

trustpilot-stars

The attention the person gave was very…

The attention the person gave was very good and the approval was quickly


CHEVANNE W

17 September, 2021

trustpilot-stars

The thing that impress me the most is…that they don't judge you by your credit acore.

The thing that impress me the most is that they don't judge you by your credit score. That's just wonderful. Denis from the Gaithersburg brach is absolutely wonderful. He worked miracle and had it not been for him I would not apply for the loan but I thank God he was knowledgeable and he care about you financial help. I felt helpless before I called the office and I am so grateful he was on the other end of the call. Thx Dennis.


RENAE WILKINS

17 September, 2021

trustpilot-stars

I had a very good experience

I had a very good experience. Very helpful, efficient and had my loan in 1 day. Very easy and simple. The person I work with was so Personable and friendly. I highly recommend.


MICHELLE

17 September, 2021

trustpilot-stars

Loans quick answers and approval odds

Thankyou for making life much easier in a very stressful time .when families are struggling


ANTHONY H

17 September, 2021

trustpilot-stars

I am very pleased with OneMain…

I am very pleased with OneMain Financial. I was treated with so much respect and courtesy during my interactions with them. I would definitely recommend their services to anyone seeking for financial assistance. I have been working on my credit, and it seemed that no one was interested in assisting me with debt consolidation.. I am truly grateful and thankful for OneMain. The Knightdale Branch in North Carolina is the best.


DARLENE B

17 September, 2021

trustpilot-stars

Kevin was really helpful

Kevin was really helpful


RANAE RAY

17 September, 2021

trustpilot-stars

The best company to conduct business

The best company to conduct business , that is the best and only way to say it. Thank you again oneMain


DAVID

17 September, 2021

trustpilot-stars

the staff was great and helpful they…

the staff was great and helpful they also told me my credit score in a year or 2 i want to buy a new car or SUV to travel and do more photography


BILLY SUTTON

17 September, 2021

trustpilot-stars

Thank you for vour Help!

Thank you for vour Help!


JOSEPHINE C

17 September, 2021

trustpilot-stars

It was such an easy and fast process

It was such an easy and fast process. Thanks to Veronica, it was all taken care of and we were very pleased.


CHRISTINE R

16 September, 2021

trustpilot-stars

Bob in Pittsburg

Bob in Pittsburg, Kansas was awesome. Very friendly and professional. Explained everything that he was doing step after step all through the entire process and if there was something he would not go any further until we did understand it. Will definitely refer friends and family.


JOHN S

16 September, 2021

trustpilot-stars

Great

Great. Professional. Seamless. I highly recommend One main financial.


S SUTTON

16 September, 2021

trustpilot-stars

Happy Customer

Excellent company to do business with with, very professional, personable and knowledgeable staff.


BENTLEY G

16 September, 2021

trustpilot-stars

It always goes smoothly and fast

It always goes smoothly and fast. I have no complaints whatsoever.


LAURIE H

16 September, 2021

trustpilot-stars

It was a simple and professional process

It was a simple and professional process


EDWARD A

16 September, 2021

trustpilot-stars

Staff was extremely friendly

Staff was extremely friendly, helpful and efficient!


MRS WILLIAMS

16 September, 2021

trustpilot-stars

One Satisfied Customer

Keisha Calhoun was an excellent representative to work with on getting my loan. She made the whole process so easy and convenient. She provide great customer service. Keisha was fast, friendly and very knowledgeable on all the information that was shared with me. Thanks, EW


ROY

16 September, 2021

trustpilot-stars

this is a scam and fraud company cause…

this is a scam and fraud company cause for the last 5 yrs they have turned me down even when i could make the payments. they are also violate the federal title 18.251 law of racketeering influence corruption act of 1962 , 1974 , 1982 also the clayton act of 1894 antitrust also the sherman act of 1904 and the 1964 civils right act of 1964


JOSEPH C

16 September, 2021

trustpilot-stars

Top Notch all around

It was a pleasant & easy transaction doing business. Very knowledgeable associate who deserves a lot of credit. No problems from them & very smooth process. Kind, caring, courteous & definitely worth using.


EDWARD H

16 September, 2021

trustpilot-stars

I gave one to financial and a+ For the…

I gave one to financial and a+ For the eagerness and professionalism and your ongoing communication with me I’ll get them assign of excellence in the bottom of my heart. Sincerely yours Edward horn for a job well done you have a great team.


JOYCE G

16 September, 2021

trustpilot-stars

Excellent customer service and very…

Excellent customer service and very easy to work with.


BRITTANY COZART

16 September, 2021

trustpilot-stars

Excellent company and staff!

My OneMain representative called at the perfect time to see if I needed any more funds. Yes…I did! And was planning to call her. She quickly and easily got me all the information I needed and helped me get the funds that I needed during a difficult time. Fast, friendly, and a blessing. Thank you!!!


MICHELLE F

16 September, 2021

trustpilot-stars

Monica was great

Monica was great! Very patient while I was trying to sign my documents online and my phone was slow and had a bad connection. She was very understanding and professional.


MARY ELLEN M

16 September, 2021

trustpilot-stars

You have always been there to help me…

You have always been there to help me when I need cash . Alicia in your Kingston Pa office is amazing . Please give her a raise or some sort of recognition , thank you . Mary ellen Morris


SHAWNA W

15 September, 2021

trustpilot-stars

Tulsa Howard not only got me what I…

Tulsa Howard not only got me what I needed, but got me what I qualified for! I ask for $2500 & walked out with $10500. You have a true asset of an employee!


CAMILLA R

15 September, 2021

trustpilot-stars

They're the BEST

They're the BEST ! Quick friendly service and funded to your account over night.


JEREMY C

15 September, 2021

trustpilot-stars

Okay the people were amazing especially ms anna

Okay the people were amazing but the dealership that got me approved through one main not so much and I had to use them instead of going to a different dealership was not something I was very happy with they had a purchase order on a vehicle and were told because of the holidays the loan couldn’t be completed till Wednesday but was fully approved and everything I had an appointment 12 noon to sign all the paperwork and they sold the car to someone else out from underneath me I didn’t want to use this dealership after that but had to so for future applications it would be a major improvement if that could be something you aloud also make Anna was super super nice and very fun promote her


SHERRIL BEASTON

15 September, 2021

trustpilot-stars

I got help when I really needed it

I got help when I really needed it, and with a pleasant experience and personnel. What more could you ask for, I was really happy with Melissa and all of her knowledge.


BRAD J

15 September, 2021

trustpilot-stars

The process online was quick and easy

The process online was quick and easy. Came to the office for my appointment and was out before I knew it.


SUSAN

15 September, 2021

trustpilot-stars

They are having issues with their…

They are having issues with their website, they been calling and calling for loan payment, I gave it to one of the woman to post , only to find out it was never put in the system, and they keep calling and bothering me , when this could been taken care that day" not good financial services, ..." Shame on this business "..


ROGER STAMPER

15 September, 2021

trustpilot-stars

i just say tks for your help Michael

i just say tks for your help Michael


PAULA M

15 September, 2021

trustpilot-stars

Quick

Quick, friendly. Lovely people


MARK R

15 September, 2021

trustpilot-stars

The staff in West Burlington Iowa is…

The staff in West Burlington Iowa is the most amazing group of people to work with. It is alway a pleasure to work with them. Kind Regards,


ZSILLAUNA O

15 September, 2021

trustpilot-stars

OneMain financial has never failed me…Love one main financial

OneMain financial has never failed me in my time of need, The staff is very supportive and go above and beyond to help you through the process.


DAKESHIA O

15 September, 2021

trustpilot-stars

Fast and professional

Fast and professional


DIANE K

15 September, 2021

trustpilot-stars

Very welcoming and helpful.

Very welcoming and helpful.


DONNA S

15 September, 2021

trustpilot-stars

Everyone I talk to was very nice and…

Everyone I talk to was very nice and helpful.


JOAN T

15 September, 2021

trustpilot-stars

All questions answered

All questions answered. Very good experience and quick same day deposit in account.


CYNTHIA

15 September, 2021

trustpilot-stars

I was happy to be able to get in and…

I was happy to be able to get in and out within reasonable time. The folks there are very nice.


CHRIS VERNAGALLO

15 September, 2021

trustpilot-stars

A pleasant experience

I was very pleased with the entire experience I had with OneMain. They were professional , helpful and respectful. I would recommend them to anyone looking for a loan to bridge a gap.


KATHY S

15 September, 2021

trustpilot-stars

Ashley was great

Ashley was great . She was knowledgeable and very professional . She got back to me in a timely manner and got my loan taken care of for me .


SALVADOR P

15 September, 2021

trustpilot-stars

I had a great experience

I had a great experience, Mercedes helped me through every step, she was very helpful and and attentive. Great service and good rates, I'd honestly get another loan just because of her!


AMETA W

15 September, 2021

trustpilot-stars

Very smooth process and very nice staff

Very smooth process and very nice staff


SPICE

15 September, 2021

trustpilot-stars

I had an excellent experience with OneMain Financial.

I had an excellent experience with OneMain Financial. Calls were pleasant with the representatives and all documents were handled electronically and were easy to complete. I had the money I needed in 24hrs. of completing the paperwork. Here, you get what you ask for, no more and no less. Excellent service. I would recommend OneMain to any and every one.

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