OneMain Financial: Personal Loans Review

  35,459 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   35,459 Reviews

trustpilot-stars

MARLENA G

22 hours ago

trustpilot-stars

I highly recommend One main great…

I highly recommend One main great customer service never a long wait time everyone very knowledgeable. Tracy super awesome I talk to her as if i know her for years . She's very understanding. You can tell she absolutely loves what she do. I'm very thankful. Could've came at a better time .. Thank you guys


JAMES J

18 October, 2021

trustpilot-stars

Quick

Quick ! and Easy ! - Thanks !


GRETCHEN O

18 October, 2021

trustpilot-stars

From the very beginning

From the very beginning, OneMain staff has been wonderfully supportive and professional. I have renewed my loans more than once because I trust them to have my interests at heart and to take good care of me. This last time was actually my best experience so far! I don't remember the name of the young man who helped me, but he was fantastic!


ROSALINA L

17 October, 2021

trustpilot-stars

Excellent customer with the person take…

Excellent customer with the person take care of me


JAMES S

17 October, 2021

trustpilot-stars

One Main Reply

As usual I am very pleased with the help and assistance that OneMain Has given me throughout the years. When in need of a Loan One Main has always come through. Whenever I'm in need of a loan I'll always turn to One Main. Sincerely James B.Sabol


CUSTOMERCHEEYL

17 October, 2021

trustpilot-stars

I just love the amazing

I just love the amazing, professional staff. My agent helped me very much. I had a smile on my face upon leaving. Thanks Clarksville office


RAYNA SPEIGHT

17 October, 2021

trustpilot-stars

Amazing

Amazing, fast and affordable. Me and my husband had fair credit and they approved us for a 15000$ loan which allowed us to get rid of a car payment and get ahead. Great, communicative staff who were understanding and helpful.


AUDREY S

17 October, 2021

trustpilot-stars

This is a great company to work with…

This is a great company to work with for a loan. They are professional and are very understanding about the needs of their customers. I received my loan within a couple of days. One Main is awesome!


MARJORIE H

16 October, 2021

trustpilot-stars

Super service and prompt payment

Super service and prompt payment


CAROLYN GREEN

16 October, 2021

trustpilot-stars

Excellent assistance-would highly recommend!!

Excellent assistance and very polite & professional-the loan was seamless through this company-I would definitely recommend them highly!


JESUS G

16 October, 2021

trustpilot-stars

Customer service very nice and helpful.

Customer service very nice and helpful.


MICHAEL GALLAGHER

15 October, 2021

trustpilot-stars

Onemain is a great place to get a loan…

Onemain is a great place to get a loan !! Don’t hesitate . Get the help you need !!


JUDY CONOVER

15 October, 2021

trustpilot-stars

My experience with one main financial…

My experience with one main financial was very professional and I was treated with respect and kindness I would tell everyone to go there thank you very much one main financial


GEORGE C

15 October, 2021

trustpilot-stars

Have never had a problem with Cortney

Have never had a problem with Cortney, always gets me the best deal and doesn't pressure me on loans I don't want


FERNANDA CORNIEL

15 October, 2021

trustpilot-stars

It is not real

It is not real, you apply through Credit Karma to an offer that is pre-approved without having to put the car under warranty, then they call you to tell you that you must put the car as warranty and a higher rate. This is not real at all, one thing is what they sell for credit karma and another what they want to offer you.


VIRGINIA C

15 October, 2021

trustpilot-stars

My experience at your store was great

My experience at your store was great. The women who helped me was kind and helpful and very knowledgeable.


MARY ANN

15 October, 2021

trustpilot-stars

Staff was very friendly and…

Staff was very friendly and professional Very please of the new set up and loan deposit the next day. I will recommend my friends coworkers and family to contact the loan office that I went to


RHONDA RAY

14 October, 2021

trustpilot-stars

I use to love 1 main and all the people…

I use to love 1 main and all the people but now they changed there website and the code has to be emailed instead of texted and it's a pain


DARCY B

14 October, 2021

trustpilot-stars

The woman that helped me was very nice

The woman that helped me was very nice, she made me feel at ease when I didn't think I would qualify for my loan. This is a great place to go get a loan with top of the line customer service!


JENNIFER R

14 October, 2021

trustpilot-stars

One main was awesome

Quick fast and helpful


MICHAEL D

14 October, 2021

trustpilot-stars

Entire process was simple

Entire process was simple, quick, and efficient. Was use again without hesitation.


ANGELA SALEH

14 October, 2021

trustpilot-stars

Simply awesome!!!!

I needed money within 4 days....I tell you... the one main rep that helped me was a complete angel . She really helped me and went ABOVE AND BEYOND when it came to my loan. She never judged me and she wanted me to have my loan in a timely manner. I wish life was as eager as she to make sure I was totally satisfied!!!!!!!!! She's a gem to the company!!! Thank you One Main!!


WILL SCOTT

14 October, 2021

trustpilot-stars

I don't mind giving feedback

I don't mind giving feedback, but why do you think anyone has the time to sit and fill out alllllllll these questions. I suggest getting it down to 10- 15 questions TOPS. I ONLY KEPT GOING JUST TO GET TO THIS PART


SANDRA C

14 October, 2021

trustpilot-stars

Love it

Love it😘😘😍😍😍😍😍😍😍😘😘😘😍😍😍


LISA J

14 October, 2021

trustpilot-stars

Fast and easy.

Fast and easy.


R. BEHLKE

14 October, 2021

trustpilot-stars

Devon was awesome and I'm very…

Devon was awesome and I'm very impressed with the great friendly service.


KENNETH J

14 October, 2021

trustpilot-stars

Quick and easy and very understandable

Quick and easy and very understandable


KENNETH I

14 October, 2021

trustpilot-stars

Ms Niki

Ms. Niki was again outstanding she took my needs and concern and put me in a position to resolve my request . She is a outstanding service provider Thank you Niki


FREDERICK G

14 October, 2021

trustpilot-stars

Everything was done professionally by…

Everything was done professionally by our rep. Jessica and she did a great job explaining everything. I would recommend this to everyone in need of a loan.


RFLO

14 October, 2021

trustpilot-stars

Amazing customer service

Amazing customer service, attention to needs, fair terms and great opportunity for new borrowers.


MARY K

13 October, 2021

trustpilot-stars

The service was outstanding

The service was outstanding, fast, quick, didn’t require a lot of processing time. The people were as nice as could be worked to get u the best deals. Very helpful. Awesome


DEBBIE

13 October, 2021

trustpilot-stars

Great Experience

It was such a pleasure to work with Jessica at One Main Financial. Process was quick, and easy. Everything explained and received money quickly.


MR. CURLEY

13 October, 2021

trustpilot-stars

Courtney was great!

Courtney was great! She explained my options, provided additional helpful information and handled my loan process over the phone. I didn't even have to go into a branch office.


STEPHANIE R

13 October, 2021

trustpilot-stars

I have done 2 loans with OneMain…

I have done 2 loans with OneMain Financial and both experiences have been beyond exceptional! If you are looking for a local banking experience where you are treated like family, this is the place to go. Both loans went so smooth and fast, I had my money the same day! Definitely highly recommend OneMain Financial!


JACOB C

13 October, 2021

trustpilot-stars

Great experience

Great experience. Our loan officer, Brandon, was easy to work with, informative and courteous.


TAMARA G

13 October, 2021

trustpilot-stars

This amazing company has helped me out…

This amazing company has helped me out twice in the last two years. The process is so easy and the transfer of money into my account is shocking fast. The agents will work around your needs: need a specific monthly payment, date the bill is due, etc. I highly recommend Onemain to anyone shopping for a loan now.


LAVERNE S

13 October, 2021

trustpilot-stars

The employees were friendly

The employees were friendly, professional and the whole loan experience was quickly done - everything was explained in detail - would recommend this establishment.


COLET H

13 October, 2021

trustpilot-stars

Your customer service person was very…

Your customer service person was very knowledgeable and polite would definitely recommend you all.


NORMA E

13 October, 2021

trustpilot-stars

Best Loan Company

Teresa was awesome. She was extremely helpful and went above and beyond. I will do business with them again in the future.


SANDRA

13 October, 2021

trustpilot-stars

ANNABELLA

THE REPRESENTATIVE ANNABELLA WAS EXTREMALLY HELPFUL I HAD MANY QUESTIONS WHICH WERE ANSWERED QUICKLY SHE WENT OUT OF HER WAY TO GET THIS DONE SO COULD RECEIVE MY MONEY THE FOLLOWING DAY.


JENNIFER N

13 October, 2021

trustpilot-stars

Angela

Angela, in Wallace, is always helpful and accommodating. She is willing to answer any and all questions.


TIMOTHY W

13 October, 2021

trustpilot-stars

A great experience

Fast and friendly less then one hour


PATRICIA D

13 October, 2021

trustpilot-stars

Wouldld have to say that they were very…

Wouldld have to say that they were very friendly and complete with the information. Patricia A Davis


DEBORAH HARRIS

13 October, 2021

trustpilot-stars

OneMain was there in the time of need.

OneMain was there to assist and support me with the help I needed. Thank you so much!!


LINDA F

13 October, 2021

trustpilot-stars

Service was very slow

Service was very slow. I applied for loan on Monday and never hear back from anyone. On Tuesday I called and the lady was rude with me and said someone would call me back I tried to tell her that's what was said on Monday. Tuesday evening I went up to the and was told to come back on Wednesday and the manager would close on my loan. He never gave me a time until I called at 1:00 to see if it was another delay and he said he would meet with me at 4:30. I have had loans there before but never with so much delay and no calls back. The manager said it was because they were so short handed and so busy. I had a water leak and water was running for 3 days.


JOHN B

13 October, 2021

trustpilot-stars

The whole process of the loan was…

The whole process of the loan was excellent. Best customer I have ever encountered!


MISS KAY 🌹

13 October, 2021

trustpilot-stars

Happy, Happy, Happy

I must express just how happy I am with One Mein Financial as a whole! It couldn't have been any eaiser for me! You people done the leg work & I signed the papers & wala....money in the bank!!! Thank You All & I will tell my friends about One Mein & how easy the process was!!! Sincerely, Miss Kay 🏝


GLORIA L

13 October, 2021

trustpilot-stars

Great experience

Great experience. Very professional and well explained. Have been a customer for a while and the staff is always helpful and supportive in the process.


TERRY WATSON

13 October, 2021

trustpilot-stars

Great customer service

Wow, what amazing customer service. The transaction was quick , informative , and easy to understand . My service provider was great she took me through the steps and courteous the whole time. Would recommend One Main Financial 10 stars here when I needed them. Thank you. Terry Watson.


LINDA L

13 October, 2021

trustpilot-stars

OneMain Financial made it very easy to…

OneMain Financial made it very easy to get a loan. I was surprised at how fast it was, and they certainly offered a good interest rate.

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