OneMain Financial: Personal Loans Review

  35,601 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   35,601 Reviews

trustpilot-stars

CHAD D

19 hours ago

trustpilot-stars

Great customer service

Great customer service, so easy!!


ALAN H

20 hours ago

trustpilot-stars

I was completely at ease with my loan…

I was completely at ease with my loan agent. She was courteous and full of knowledge to all my questions I had. in my past I had a loan I paid off with OneMain a few years back. This company was comforting to my loss in my family at that time. No questions to the kindness and assistance and the compassion this company has towards their customer.


CRADLYN BROWN

22 hours ago

trustpilot-stars

One main financial staff was very…

One main financial staff was very polite and gorgeous very helpful and I was able to do business with them I would recommend anyone to use one main financial


CONSUMER

23 hours ago

trustpilot-stars

Excellent service in today’s times

Company goes above and beyond for their customers. One Main is always a great experience when you need them. 5 stars !!!


BEVERLY Y

23 hours ago

trustpilot-stars

One Main Review:

One Main Review: Contacted Staff at One Main and they were very helpful.


D. D. K.

20 October, 2021

trustpilot-stars

They were amazing and helped us…

They were amazing and helped us throughout everything and then some!!! Customer service was above and beyond!!! We ended up being able to get a bigger loan because of their efforts!!!


IAN W

19 October, 2021

trustpilot-stars

What a great experience

What a great experience. Simply the easiest way to get financed. They had the best customer experience I've ever had. Thank you


JONATHAN B

19 October, 2021

trustpilot-stars

Great customer service

Easy quick process


DEIDRE T

19 October, 2021

trustpilot-stars

Tank was super helpful

Tank was super helpful! He is the best!


ERMA B

19 October, 2021

trustpilot-stars

My experience with One Main was easy

My experience with One Main was easy, fast,and very comfortable and satisfying. Thankyou One Main.


PAWARES T

19 October, 2021

trustpilot-stars

I have a good understanding of all…

I have a good understanding of all aspects of the term and conditions that come with this personal loan, the financial help that I get from this branch in Springfield was great....just couples item..that I would like to mention 1.check has to be deposit in your bank...bank of America won't cash it...they say it was too big and they wouldn't tell you what are the limits. 2.process was a little bit too long...other wise this would be excellent. I have to say over all was great thanks to Sara she is good at explaining in detail.


ROBERT F

19 October, 2021

trustpilot-stars

My experience with one main was…

My experience with one main was awesome. The loan was easy no complications what so ever. The customer service was warm and nice. This One Main branch in Chula vista on broadway was the best loan experience that I ever had. I was in and out in no time and I didnt have a appointment. They was nice enough to take me since I did a preapproval online. They get 5 stars cause not only was it quick, painless and easy but I was in and out in no time. Thanks One Main I plan on using you more in the future if I need another loan.


PERSONAL CHEF

19 October, 2021

trustpilot-stars

Fast and easy

Fast and easy. All things explained and answered any questions. Make sure to know that you are aware of all that’s going on before you sign on the dotted line.


LINDA J

19 October, 2021

trustpilot-stars

Had a good experience at branch office

Had a good experience at branch office. Every thing flowed and was done in one days time.


LINDSEY T

19 October, 2021

trustpilot-stars

Highly Recommend

This is my third loan with One Main and I just continue to have nothing less than exceptional customer service.


DANIEL C

19 October, 2021

trustpilot-stars

Service was GREAT just think I should…

Service was GREAT just think I should have a better interest rate...


SAD CUSTOMER

19 October, 2021

trustpilot-stars

Does not meet promotional expectations

Sadly below the surface there is not much Customer Service. 2 stars for good surface Congenial Service. Local and National customer support for your unexpected needs come far short of what is advertised or falsely posted in 5 star reviews. Just another high interest loan company for profit. Do not refer OneMain to a friend. You will owe them an apology.


PATRICIA D

19 October, 2021

trustpilot-stars

Was so glad yall could help us we were…

Was so glad yall could help us we were out of options. Thank you so much.


BARBARA W

19 October, 2021

trustpilot-stars

Everything went well with this…

Everything went well with this experience my loan officer worked really hard to get me the help I needed. Thank you


MIGUEL V

19 October, 2021

trustpilot-stars

Very easy process

Very easy process, very clear, Very helpful Thanks again


CUSTOMER

19 October, 2021

trustpilot-stars

Effortless Transaction, highly recommended

Ms. Jessica Pettit was very efficient and within a few hours she got all the process done and the money was in my account before the end of the day. I highly recommend working with One Main's regional office in McHenry County, Illinois.


SUSAN A

19 October, 2021

trustpilot-stars

Extra cash made easy

Kevin helped me through application and saw it through to the end… very professional and knowledgeable.


CHRISTINE

19 October, 2021

trustpilot-stars

Great service and very helpful and very…

Great service and very helpful and very easy to understand the process would highly recommend


LISA C

19 October, 2021

trustpilot-stars

Really Worked With My Father and I To…

Really Worked With My Father and I To Help Meet Our Financial Needs and Gave us Multiple pay back options to meet our needs! Thumbs up!


MELODY R

19 October, 2021

trustpilot-stars

Thank you so much.

Thank you so much.


JOSEPH W

19 October, 2021

trustpilot-stars

Thanks guys,I really appreciate your…

Thanks guys,I really appreciate your service great job well done Thanks about


BECKY

19 October, 2021

trustpilot-stars

The Redding branch is awesome!

The Redding branch has professional, qualified, friendly, and honest people working for the client. I have used them before, and that is why I chose to come back again. I got my money the same day I applied!


CYNTHIA

19 October, 2021

trustpilot-stars

Fast and hassle free

I'm surprised at how hassle free the process was .. My rep was nice and made me comfortable with the virtual process that I struggle to trust..


SUSIZETT COLBERT

19 October, 2021

trustpilot-stars

Staff was kind,treated us…with kindiness,esp Trina

Staff was kind,treated us wonderful.Trina was super!! she took care of our needs with such care.Made sure we understtod every little piece of paperwork. Thank you sooo much!!


MICHELLE T

19 October, 2021

trustpilot-stars

Danielle was fantastic to work with

Danielle was fantastic to work with, she made the process very easy. I am very pleased with my loan experience. Would definitely recommend to others.


KELLY W

19 October, 2021

trustpilot-stars

One main is very easy to work with

One main is very easy to work with. Pain free transaction and would recommend for anyone with less than perfect credit.


DEBORAH M

19 October, 2021

trustpilot-stars

I was approved for a loan

I was approved for a loan. I was told you have 7 days to cancel the loan with no issues. Well, I called 2 days after I accepted the loan to cancelled. I asked if I could return the loan money deposited in my account and was told yes but I needed to return the car payoff money as well. I inquired further of how to do that. I was informed that a stop payment could not be done. I would have to intercept the check mailed to the previous lender. I was told the previous lender could not mail it back and all of this needed to be done within the 7 day window. No further guidance was provided and I felt overwhelmed. I asked when would the check arrive to the lender, I was told “ummm we don’t know.” So, things aren’t as easy as they said it would be. I feel I was mislead and their policy of the 7 days was false advertisement. I am now stuck with paying off a loan that i no longer want. I changed my mind and was told before I signed the documents I had this option. I was emailed that I could cancel at anytime during the 7 days. So don’t believe the 7 day rule…it’s a lie!!! I updated my comment because it wasn’t clear. But I hope this provides some clarity. I will pay this loan i am stuck with in less than 6 months and will never do business with one main ever again and will not recommend due to this company being deceptive.


SHERRI C

19 October, 2021

trustpilot-stars

Thanks for everything it was a nice…

Thanks for everything it was a nice experience


CHRISTOPHER A

19 October, 2021

trustpilot-stars

Hailey was very helpful

Hailey was very helpful. OneMain had a higher interest rate than the offers I received from other loan companies but OneMain had a local office and that was why I did business with them.


SILVESTER W

19 October, 2021

trustpilot-stars

Excellent thanks

Excellent thanks


LAURIE G

19 October, 2021

trustpilot-stars

Kalispell Office is Gold

The folks at the One Main in Kalispell, MT are wonderful. They are thorough, professional, timely and considerate. I am very grateful to have found this terrific company!


STEVEN L

19 October, 2021

trustpilot-stars

Awesome quick service

Awesome quick service, very helpful to get the assistance I needed


LOUIS S

19 October, 2021

trustpilot-stars

Loan and loan officer

John Harris your loan officer was outstanding. He was efficient articulate that with other customers with dispatch while working with me and has my full attention. He did a great job!


WILLIE

19 October, 2021

trustpilot-stars

Great process walked me though no…

Great process walked me though no problems thanks Onemaine


DAVID R

19 October, 2021

trustpilot-stars

Awesome experience with my Lender.

Awesome experience with my Lender.


WILLIAM NEAL

19 October, 2021

trustpilot-stars

29.0 % interest …is this usury ?

Still confused on how they can charge 29.0% interest on a 3000.00 loan in Florida ?


INAS H

19 October, 2021

trustpilot-stars

Brenda was an excellent loan officer…

Brenda was an excellent loan officer and presented my options in a clear and concise manner.


JULIE

19 October, 2021

trustpilot-stars

Easy super fast process

Easy super fast process! Isabel is really great at her job!


KARL M

19 October, 2021

trustpilot-stars

Jasmine did excellent job

Jasmine did excellent job. She made it very easy. She is a jem. Thank you Karl Mcfrederick


IMELDA D

19 October, 2021

trustpilot-stars

OneMain helped me pay off some of my…

OneMain helped me pay off some of my debts, and bringing down some monthly payment to one


MCKINLEY D

19 October, 2021

trustpilot-stars

The young lady who handled my account…

The young lady who handled my account was very helpful and understanding of what I was going through. She stopped to listen to me and went well out of her way to remove the “itch” of panic from my system. Where the two banking institutions that I have been dealing with for more years than I care to remember, would not even consider me for what I was asking for, one of them said,” you are living on 64.134% of your income now so we can’t help you at this time!!!!” I can’t thank you and her enough for the faith and patients to help me in my time of need and I do/will recommend this institution to anyone else who has a need for your services!!!!…🙏🏿💯👍🏿🙌🏿


DEE B

19 October, 2021

trustpilot-stars

Fast

Fast ...friendly...professional...


CALLIE L

19 October, 2021

trustpilot-stars

My experience with One Main Financial…

My experience with One Main Financial was excellent. Carol was so very nice and helpful. I would definitely recommend them to all my friends. Thank you so much.


TERESA G

19 October, 2021

trustpilot-stars

Very pleased that they helped me

Very pleased that they helped me. Very friendly and answered very question I had. Thank you.


DEBRA M

19 October, 2021

trustpilot-stars

The representatives I worked with were…

The representatives I worked with were very pleasant. The stayed on top of things and were very thorough fast and efficient. I appreciate OneMain Financial giving me the opportunity of their acceptance. Thank you.

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