OneMain Financial: Personal Loans Review

  36,712 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   36,712 Reviews

trustpilot-stars

MICHELLE

01 December, 2021

trustpilot-stars

Fast friendly service

Fast friendly service, gave me options and explained everything greatly, would definitely recommend One Main.


HELENA P

01 December, 2021

trustpilot-stars

Excellent service

Excellent service. Thanks


NICHOLE P

01 December, 2021

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Laurel from the Monroeville office is…

Laurel from the Monroeville office is simply the best!! So friendly and helpful every time I call her! Loan process is fast and easy!


LASARAH

01 December, 2021

trustpilot-stars

This was our first time coming here and…

This was our first time coming here and when I tell you me Rick did his thing!!! He so awesome and helpful and willing to help you along the way!! I recommend anyone that comes to onemain financial ask for mr rick!! Thanks again Mr rick for all you’ve done to help me and my family..


DAVID J

01 December, 2021

trustpilot-stars

I was very pleased with everyone there…

I was very pleased with everyone there at the 410 office. Very helpful and kind.


MARY R

01 December, 2021

trustpilot-stars

I was treated very well I will always…

I was treated very well I will always tell others about One Main very sweet people


ERIC F

01 December, 2021

trustpilot-stars

Lisa was very professional and…

Lisa was very professional and knowledgeable. The process was smooth and seamless. Thank You


FOR YOUR ORDER

01 December, 2021

trustpilot-stars

Excellent customer service!!!!

Excellent customer service!!!!


MELISSA T

01 December, 2021

trustpilot-stars

It's always a great experience doing…

It's always a great experience doing business with OneMain!


KEITH D.V.

01 December, 2021

trustpilot-stars

An easy

An easy, pleasant experience that saved me over $250.00 a month. The loan agreement took less than an hour to complete, and the loan money was deposited the next day. Highly recommended.


ANGELA W

30 November, 2021

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I'm grateful for the opportunity thank…

I'm grateful for the opportunity thank you guys


GARY B

30 November, 2021

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I do believe this was the easiest,the…

I do believe this was the easiest,the less painful loan process i've ever been trough.good job one main


KELLIE T

30 November, 2021

trustpilot-stars

Friendly Associates

They always go above and beyond to help customers. They also try to get you over to the same person you’ve already been working with so you can feel more comfortable. They don’t keep anything hidden from you; they tell you everything you need to know.


MARCIA D

30 November, 2021

trustpilot-stars

Very easy application process and…

Very easy application process and approval.


REBECCA L

30 November, 2021

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Tracey made the whole process extremely…

Tracey made the whole process extremely easy. Everything was explained and all my questions were answered in a completely understandable way. I recommend Main One to anyone looking for a loan , or to refinance or consolidate any existing loans.


MEAGHAN LONG

30 November, 2021

trustpilot-stars

Everything was quick professional and I…

Everything was quick professional and I was able to get what I needed. The staff was friendly and helpful.I would be happy to recommend one main to any of my family and friends.


JOHN S

30 November, 2021

trustpilot-stars

My experience at OneMain was fantastic.

My experience at OneMain was fantastic.


KENNETH C

30 November, 2021

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Thank you so much one main

Thank you so much one main , your agent was wonderful in helping me acquire my loan. Thank you for my long awaited financial opportunity.


ANDRE B

30 November, 2021

trustpilot-stars

Hi I just want to thank Onemain…

Hi I just want to thank Onemain Financial for helping me out through this time in allowing me to have extra money for Christmas I really think the young lady that help me but all the young ladies that work there are super super nice and I would like to wish him a merry Christmas and a happy New Year’s


SANDRA N

30 November, 2021

trustpilot-stars

my…my experience

Rosa was very helpful and so nice to my dad and I. She made fresh coffee for my dad and a cold drink for me. All together the experience with one main financial was excellent.


CYNTHIA T

30 November, 2021

trustpilot-stars

Judy at the Glen Burnie office was very…

Judy at the Glen Burnie office was very helpful throughout the process.


DOROTHY PIPES

30 November, 2021

trustpilot-stars

I was helped immediately

I was helped immediately. The person who helped me was caring, polite and compassionate. She treated me as a human cane that put me at ease. I didn’t feel embarrassed as some agents make you feel asking personal guestions. She called me to tell me that I had been accepted for a loan with such a friendly hello and yes. I would happily recommend Main Financial.


CW

30 November, 2021

trustpilot-stars

Great

Great. Wait was entirely too long. I still can’t draw down my documents.?


WILLIE W

30 November, 2021

trustpilot-stars

Great service recommend anyone for…

Great service recommend anyone for y'all good service


FLORENCE H

30 November, 2021

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AWESOME

AWESOME, VERY HELPFUL, PATIENTS AND GREAT CUSTOMER SERVICE


WINDY ELTHORP

30 November, 2021

trustpilot-stars

was great at first due to giving a loan…

was great at first due to giving a loan out even with high interest rates.. problem was when you go to pay off the loan early they still charge interest on the loan. I was told due to the state the loan was taken out of Is why..but even after speaking to a rep from the actual company they said there was nothing they could do.. that $200. Interest they charged for paying it off early could had been used for Christmas for my grandson we adopted..And they just repeat themselves over and over how there is nothing they can do about it other then make you pay extra for paying them off sooner!


AMV

30 November, 2021

trustpilot-stars

It was an easy process

It was an easy process. Anne is very helpful and knowledgeable. Thank You


LEE RATLIFF

30 November, 2021

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I had a good experience with my loan…

I had a good experience with my loan manager no problem


SHARON J

30 November, 2021

trustpilot-stars

Wonderful people to work with

Wonderful people to work with! Very helpful and fast deposit!


CHARLIE Z

30 November, 2021

trustpilot-stars

The service was professional and…

The service was professional and courteous. The Loan was easily understood. The time from initial start of loan to finish was rather fast considering the factors involved.


TYRONE B

30 November, 2021

trustpilot-stars

2 word loved it

2 word loved it, helped me out alot


LAVONNE VICHLACH

30 November, 2021

trustpilot-stars

Staff is both professional and…

Staff is both professional and personable. The entire process runs through completion in about an hour. Customers are treated with compassion and respect.


JOANN ANNACCONE MARVEL JOY

30 November, 2021

trustpilot-stars

Awesome thank you so much it was…

Awesome thank you so much it was awesome agent was very helpful. Thank you so much everything was great agent was so nice and helpful


ARCIDES R

30 November, 2021

trustpilot-stars

Great work for me and great job…

Great work for me and great job opportunity etc….


EDWARD S

30 November, 2021

trustpilot-stars

Easy process .

Easy process .. no anxiety no pressure


NORMA G

30 November, 2021

trustpilot-stars

I would like to thank Zoila & Dedra for…

I would like to thank Zoila & Dedra for their assistance with the application. Zoila explained all the paperwork and made it easy and understandable. I will definitely recommend One Main Financial to family & friends. Thanks


HECTOR G

30 November, 2021

trustpilot-stars

It was a better experience than

It was a better experience than, the previous one I had with the branch manager Ed.


KISHA J

30 November, 2021

trustpilot-stars

They have helped me in so many ways and…

They have helped me in so many ways and because of the loan and experience my children will have a Christmas and a chance to have a home in the coming year.


DIANA C

30 November, 2021

trustpilot-stars

Very Friendly and helpful.

Very Friendly and helpful.


CIN

30 November, 2021

trustpilot-stars

This is our 2nd loan

This is our 2nd loan, wonderful experience, and Angie our representative was absolutely wonderful! Professional and Thorough .


ROBERT M

30 November, 2021

trustpilot-stars

Santana was great

Santana was great, she had everything ready and was very informative.


LATEACHA W

30 November, 2021

trustpilot-stars

It good deal good time for me start…

It good deal good time for me start paying looking for start paying everything early


MICHAEL M

30 November, 2021

trustpilot-stars

Took me literally all day at their location.

I called the location to start my loan literally minutes after they opened at 9:03 am. Sat in their parking lot until 10:30 since they were apparently in meetings. When I didn’t get a call back I called them to hear that the person handling my loan was on the other line and they would have him call me back. I continued to sit in the parking lot and wait. Every half hour I called back until I finally reached someone at 1:30 pm. They stated it would be just another minute and they would contact me to get started. I continued to call every half hour until 3pm when I got frustrated and walked in. They started my loan then told me to go wait outside again since another customer had just walked in and needed their attention. I went back outside and waited until 430 when I came back in. They finally finished my loan at 530pm. I literally sat at one main my entire day. I had to drive 65 miles to get there. Then 65 miles home. Not my best loan experience. They wouldn’t even let me use their restroom when I told them I’d been waiting literally seven hours for service.


PHIL

30 November, 2021

trustpilot-stars

I appreciate One Main

I appreciate One Main, but this last time was very frustrating. I had a scheduled time and though I was there early, my loan officer was very late getting to me. Then during our time, they were not only working with me. It was not the level of customer service I have had in the past.


CARMEN P

30 November, 2021

trustpilot-stars

The agent was kind enough to wait for…

The agent was kind enough to wait for me to get to the office because I was unable to download the documents and she greeted me with open arms. It was an excellent experience. Thank you


GEORGE B

30 November, 2021

trustpilot-stars

It was great

It was great I would go back and they are good people


ELLIS

30 November, 2021

trustpilot-stars

Fast and easy as always

Fast and easy as always. Great experience with no hassle.


MARY R

30 November, 2021

trustpilot-stars

Had a leasant experience no hassle the…

Had a leasant experience no hassle the loan office was very nice


PAM

30 November, 2021

trustpilot-stars

Sonya was excellent

Sonya was excellent! So patient and helpful.


LARRY W

30 November, 2021

trustpilot-stars

I was in need of a little bit of…

I was in need of a little bit of financial assistance and this was achieved through my local one main financial office. I had a previous loan through them and they were able to refinance it and add enough money to fulfill my needs. Great service in a short period of time. Thanks for you assistance, Larry Woods

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