OneMain Financial: Personal Loans Review

  35,779 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   35,779 Reviews

trustpilot-stars

EGYPT50 HOTKITTY

9 hours ago

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Same great service as usual

Same great service as usual. Thanks for your help.


WHITT MCWILSON

11 hours ago

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As a repeat customer found friendly and…

As a repeat customer found friendly and knowledgeable associates willing to assist in securing an Affordable Loan


BRYAN R

11 hours ago

trustpilot-stars

Great service agents

Great service agents


CYNTHIA BIVINS

11 hours ago

trustpilot-stars

Excellent service also fast

Excellent service also fast. Kashi helped out tremendously. Thank you


RANDY K

12 hours ago

trustpilot-stars

Customer service was great

Customer service was great, I really appreciate you helping me with my financial situation thank you


NIKA ANDERSON

12 hours ago

trustpilot-stars

Applying was easy and the staff member…

Applying was easy and the staff member made the process smooth. Never was judged on credit and felt welcomed. Staff was friendly and atmosphere in all very professional.


LINDA HUGHES

13 hours ago

trustpilot-stars

Very good and friendly people

Very good and friendly people


SUSAN P

13 hours ago

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I was greeted as soon as I walked in…

I was greeted as soon as I walked in the door. Everyone was very friendly. The service was very good.


JAMES

13 hours ago

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I really have enjoyed working with Ms Olga Morena

I really have enjoyed working with Ms. Olga Morena. She has gone all out to help me secure a loan for myself to pay some lingering medical bills. I'll always remember her efforts to help me. Thank you Ms. Morena!


MYRIAN DIAZ

13 hours ago

trustpilot-stars

Onemain financial was very helpful

Onemain financial was very helpful. They answered all my questions and explained everything step by step. They even got me more money than what I have applied for. Really satisfied.


CUSTOMER

13 hours ago

trustpilot-stars

Monica at the Prescott Valley location…

Monica at the Prescott Valley location is truly amazing. She is understanding and goes up and beyond to help anyone out. Her customer skills truly shows her heart and because of her we continue to do business with your company. She deserves the recognition of being an outstanding representative of your company.


CAROL MCWHORTER

13 hours ago

trustpilot-stars

I have been dealing one main for a few…

I have been dealing one main for a few years now no problem at all. Very kind and understanding for your needs.


TISHA

14 hours ago

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Ms.Brenda Was So Nice Compassionate…

Ms.Brenda Was So Nice Compassionate Very Patient Need More Like Her


JANNA T

14 hours ago

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I had a wonderful experience with my…

I had a wonderful experience with my loan. Olga Martinez bends over backwards to explain everything you need, paperwork, loan paperwork interpretation and had it done in 24 hours. Totally stress free for me! I'm sure you pay your employees well, that's why you have good help. I think Olga should get a Christmas bonus! Good help is hard to find.


TONY B

15 hours ago

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OneMain Financial has been a big help…

OneMain Financial has been a big help for me. I highly recommend them for your financial needs.


RICHARD O

15 hours ago

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I had a unexpected expense from IRS. They helped when needed.

I had a unexpected expense from IRS. The One Main staff worked patiently and diligently to help avoid serious problem. Again they came through when help was really needed. Thank you very much.


DONALD B

15 hours ago

trustpilot-stars

Professional and Helpful

My agent Brenda was very professional, yet personable, and made the process manageable. I was able to get a plan that helps me get back in to control. Thanks


ILKA COLON

16 hours ago

trustpilot-stars

My spouse has done 2 loan with this…

My spouse has done 2 loan with this company in previous years and it went well.. Company gave my spouse a call to offer him a new loan but this time around we dealt with different people and they did not have it together .. They said it was double check information but they kept ask questions that he had already answer and asking for bills that we can not provide because we are new owners to the home so we have no bills yet .. Like he didn't understand why company call him if they were just gonna give him the run around ...


LINDA S

16 hours ago

trustpilot-stars

OneMain was very helpful to me when I…

OneMain was very helpful to me when I the money. And I didn't have to bring in 100 an 1 proof so hats off to them and the people are friendly and helpful.


MIRIAN S

17 hours ago

trustpilot-stars

Amazing .very fast service

Amazing .very fast service


DEBORAH B

17 hours ago

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Evaluation

I have been looking for a good loan company that would work with me and my income. He was just great.


BENJAMIN

17 hours ago

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Awesome and quick service

Awesome and quick service, Hector super helpful!!!


KENNETH S

17 hours ago

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I had a very good review

I had a very good review. The computer slowed down on her but that was my only complaint. The ladies were very nice and I like how they worked together. I really appreciate how the agent worked to get my approval so fast. I want to thank that entire staff. I do not know if it's against company policy but I am go by and offer to buy them lunch. This is a very good and dedicated crew here at the Palestine Branch. Thank you.


KEITH WASHINGTON

17 hours ago

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It was a process that was easy and…

It was a process that was easy and fast, got the money, got my car in the shop and I'm seriously happy now tat things are back o track.


MARIO G

17 hours ago

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Was Very Pleased with the service

Was Very Pleased with the service. Want to give a Very Big Thank You to Kristi. She made our visit Very Pleasant. She was also Very Informative and helpful. She had everything ready to go. We were in and out with an antsy 5 month old who was ready for a nap. We will definitely be back, and recommend to our family and friends.


MARYANNE

17 hours ago

trustpilot-stars

I was assisted by Ebony in the Fort…

I was assisted by Ebony in the Fort Mill SC office and she was amazing ! So patient and kind!


KIELDA LOUIS

17 hours ago

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Great communication alsome service…

Great communication alsome service prefect timing.


MARK WASHBURN

17 hours ago

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Thank full

They were great from the beging to the end


JOHN M. RANDOLPH

18 hours ago

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I can't say enough how professional

I can't say enough how professional, knowledgeable, and helpful they are at your Jasper, IN store. I have been a customer for a long time and they always come through. Thanks, John & Cathy Randolph


ANTHONY D

18 hours ago

trustpilot-stars

Thank You

Thank you One main Financial for giving me a chance with my first personal loan after a long uphill battle of slowly raising my credit score. I didn't think I would be approved for the unsecured loan but you proved me wrong. The process was painless and quick. My local Sr Loan Specialist Rodriccas Hammock was a total professional explaining all the details of the contract. Commendable!!!


KIMBERLEY F

18 hours ago

trustpilot-stars

They made the process of getting our…

They made the process of getting our financial needs super easy and quick.


BEATRIZ VERA

18 hours ago

trustpilot-stars

I am always afraid to apply for help…

I am always afraid to apply for help because it is easy for people to treat you with less than the dignity you deserve. This did not happen with OneMain Financial. They worked with until they found a solution to my need. KUDOS!!!


DEBRA BRAUN

18 hours ago

trustpilot-stars

Easy to do Business with

Easy to do Business with


JENNI G

18 hours ago

trustpilot-stars

Shaleesh (in Portland) is a rock star

Shaleesh (in Portland) is a rock star. Super courteous, professional, and efficient. I love how helpful and warm her vibes were. Thanks, guys!


LASHONA R

19 hours ago

trustpilot-stars

Satisfied Customer

Fast and Easy Process and such an amazing staff.


MARIO M

19 hours ago

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I applied for a loan

I applied for a loan, and within two hours I was approved, and two hours later the money was in the bank. The staff was very professional.


ALIN P

19 hours ago

trustpilot-stars

I think both your manager and assistant…

I think both your manager and assistant manager are very professional. They are very helpful to help me to get a loan. I was very please with their assistant. Best Alin


CATHERINE G

19 hours ago

trustpilot-stars

Best experience ever with a loan

Best experience ever with a loan, truly straight forward. I’m happy to be doing business with them.


TONYA KING-HORNE

19 hours ago

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Agent made my experience very simple…

Agent made my experience very simple and easy. She was very good with making my time her first priority.


RAMON S

19 hours ago

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It was a good experience thank you

It was a good experience thank you


MICHAEL R. NAPOLI

19 hours ago

trustpilot-stars

Eileen Rodriguez is so AMAZING.

Eileen Rodriguez is so AMAZING. Michael R Napoli


DAPHNE M

19 hours ago

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Too much going back and forth with…

Too much going back and forth with needing documents.


ROBERT

19 hours ago

trustpilot-stars

They took me step by step!

They took me step by step!


MELANIE D

19 hours ago

trustpilot-stars

My loan officer Sherry makes the whole…

My loan officer Sherry makes the whole process so easy and quick. I’ve used their service many times because she really takes care of my needs. Mahalo Sherry!!


AARON M

19 hours ago

trustpilot-stars

Brian was very helpful and he took…

Brian was very helpful and he took time to explain everything ! Very nice


DAVID L

20 hours ago

trustpilot-stars

The branch rep provided a easy…

The branch rep provided a easy professional experience, the transaction was seamless.. Great atmosphere, friendly staff..


CONNIE MARIE CESENA

20 hours ago

trustpilot-stars

Irene was absolutely fantastic

Irene was absolutely fantastic. Everything was practically done once I got there as I was able to provide the documents needed prior to my appointment. She is very professional and definitely knows what she is doing. I remember her from previous experience with OneMain Financial.


SHARON

20 hours ago

trustpilot-stars

Stephanie is always so helpful & kind

Stephanie is always so helpful & kind. She makes the process so much easier.


ROBERT Z

20 hours ago

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Quick easy and professional

Quick easy and professional


FLORA B

20 hours ago

trustpilot-stars

I'm always taken care of at the Little…

I'm always taken care of at the Little Elm Office. Good staff and fast on what they do!

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