OneMain Financial: Personal Loans Review

  37,488 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   37,488 Reviews

trustpilot-stars

S. SHADE

17 hours ago

trustpilot-stars

Very helpful very informative

Very helpful very informative. Agent was not impatient she was helpful and gave advice.


VALERIE H

17 January, 2022

trustpilot-stars

Great customer service.

Great customer service.


BRENDA BROWN

15 January, 2022

trustpilot-stars

It was good experience ,didn't have any…

It was good experience ,didn't have any problems . We thank you for the help and appreciate it very much. Thank you again.


ALFRED L

15 January, 2022

trustpilot-stars

Excellent service with Carolyn.She had…

Excellent service with Carolyn.She had explained everything thoroughly.Very good customer service .


FRED SCHOFIELD

15 January, 2022

trustpilot-stars

Korey with the main office in Indiana…

Korey with the main office in Indiana was an Outstanding representative for One Main Financial. He is very knowledgeable, patient, understanding and had a genuine concern for what i wanted and needed. He explained all the paperwork and the process to me and is a very smart individual. I sensed he cared and that always makes a great representative and Sales person. The funds where actually deposited to my account the next day.


LAURA K

14 January, 2022

trustpilot-stars

Broke down auto

My auto broke down and I had to get a new one. With many credit cards I was worried about paying a car loan. I thought if I could pay the credit cards up I would have money for the car payment and would be able to pay one bill easier by consolidating without worrying all the time.


JERRY POWELL

14 January, 2022

trustpilot-stars

My car blew the motor and I needed…

My car blew the motor and I needed money fast and one main was there for my begging holler,hands bown your are the best


TINA SMART

14 January, 2022

trustpilot-stars

Life after Covid

Covid lockdown had just ended! No more Uber for me! I needed a car! My credit wasn't so good. One main was there for me and again at Christmas! Thank you OneMain


GINN GERRA

14 January, 2022

trustpilot-stars

I got my loan fast and easy with One…

I got my loan fast and easy with One Main Financial . This was one of the easiest loans I've ever gotten . Thank you OMF !


CAROLYN BROWN

14 January, 2022

trustpilot-stars

Easy Application Process

Easy Application Process! After Providing Documentation of Income, A Check Was Deposited The Next Day.


MARQUIS MURRAY

13 January, 2022

trustpilot-stars

At The time of need OneMain financial was there .The Staff Provided Me with excellent service quick and easy Thank you OneMain Financial 💪🏾

At The time of need OneMain financial


DENISE A

13 January, 2022

trustpilot-stars

I was a very happy with my decision to…

I was a very happy with my decision to choose you. The experience was great


TARA FOERSTER

13 January, 2022

trustpilot-stars

SHADY....NO REFERAL BONUS HONORED

My friend went and refinanced and consolidated with one main financial. He told me I should do the same so the next day I did for almost 20 grand. Quick and simple. Here's my issue...he should've gotten the $100 for sending me there but HE DIDN'T . First they gave the excuse that I signed my loan before him ( I signed the same day 3 hours before him because he works). so then they were going to give it to him but then Shane wouldn't answer the phone. Now they say because mine was a payoff? it doesn't count??? Come on!! They're making almost 10 grand between us in interest and they can't honor their $100 referral bonus??? RIP OFF How can ya trust this company now? So petty


SONI

12 January, 2022

trustpilot-stars

Thank you so much for making this…

Thank you so much for making this transaction so easy. I would definitely recommend your services!!


SALLY EMBRY

12 January, 2022

trustpilot-stars

Tanya Crelia out of Texas was wonderful…

Tanya Crelia out of Texas was wonderful I had been calling for days bc I cold not up load photos after 20+ calls this gal stepped in an saved the day cutos to Tanya, the person who trained her an Texas y’all got it together an your boss should look into a promotion for ya!💛


SAM

12 January, 2022

trustpilot-stars

My experience with One main Financial…

My experience with One main Financial was awesome!!! My representative Miss shorty I hope I got her name right was just fabulous she took the time to go through all my options and explain to me the differences. It is awesome to have someone take your time and explain all the details I definitely give her a five-star truly a professional in this field and I have not met many. On top of that One main Financial had the best option for me for I have checked out others, they are fair and their rates and the monthly payments are very affordable that includes all the options to protect myself if something should happen the extra insurance my payment's still under $100 a month I would truly recommend One main Financial to anyone who needs a little extra help but are extremely fearful of the high interest rates my credit was not the best but they work with me and they made it happen!! Thank you so much One main Financial it came in right on time at a difficult time again thank you for looking at me as a person and not just so much as a credit score.


MARY G

12 January, 2022

trustpilot-stars

It was fast with excellent service

It was fast with excellent service. Ebony was great. Very eazy to get done. Safey 1st here with sanitizer and mask. Thanks, Mary


PATRICIA P

12 January, 2022

trustpilot-stars

My representative was excellent

My representative was excellent. I would have preferred not to come into the office and completed everything on line but he was great.


JASON W

12 January, 2022

trustpilot-stars

Awesome

I was helped and everything went so smoothly. I defend will be using this company with other parts of my life in the future.


REBECCA S

12 January, 2022

trustpilot-stars

Friendly

Friendly, fast and professional !Great experience


MANUEL ALLISON RODRIGUEZ

12 January, 2022

trustpilot-stars

One main financial as good as it gets

These guys are Awesome in every aspect of the process. Does not take long at all. I Would recommend them to anyone needing a loan.


LETICIA GRANT

12 January, 2022

trustpilot-stars

OneMain Financial was very professional…

OneMain Financial was very professional and Efficient. A great experience would recommend to friends and family. Thank you!!


DARLENE C

12 January, 2022

trustpilot-stars

Great Experience

Great Experience. Looking for a Fresh Start. One Main Financial


TONI THORNOCK

12 January, 2022

trustpilot-stars

Very nice and easy with friendly staff

Very nice and easy with friendly staff


TERRI

12 January, 2022

trustpilot-stars

This transaction was done quickly and…

This transaction was done quickly and professionally.


VALERIE G

12 January, 2022

trustpilot-stars

Christie was a blessing!

I’ve used OneMain in the past and hoped my experience this time would be as good. I was not disappointed. Christie helped me and my mom every step of the way, she was informative and she explained everything in way to make sure my mom, who is 82, could understand it all. She was very personable and made us feel comfortable and welcome. Our experience was fantastic and I really appreciate Christie for her kindness.


MIKE BECK

12 January, 2022

trustpilot-stars

Everything was a great experience

Everything was a great experience


ELEANOR S

12 January, 2022

trustpilot-stars

Very impress and satisfied.

Very impress and satisfied.


CAMERON KELLY-JOHNSON

12 January, 2022

trustpilot-stars

Pushy & Rude

Pushy rude, never stop calling or emailing even after you've told them no.


LYDIA LOZOYA

12 January, 2022

trustpilot-stars

Any time I have a need for extra funds…

Any time I have a need for extra funds they’re always available especially last minute loan request. And same day direct deposits!.👍🏼


TERESA U

12 January, 2022

trustpilot-stars

The representative was friendly and…

The representative was friendly and explained everything the whole process was easy.


BOBBY W

11 January, 2022

trustpilot-stars

Courteous and professional service!

Courteous and professional service!


MARCUS B

11 January, 2022

trustpilot-stars

Michelle was an absolute joy to work…

Michelle was an absolute joy to work with. This the second time I have gone to her for my financial needs. Michelle is very understanding, easy to get along with and always has my best financial interest in mind. Two thumbs up! Thank you!


LEAH C

11 January, 2022

trustpilot-stars

Loan made easy

It was an easy and fast transaction. The agent thata helped as out is very helpful and efficient.


JASON

11 January, 2022

trustpilot-stars

They are just the most caring people…

They are just the most caring people and go out of there way to help you the best experience I have had


CAROL S

11 January, 2022

trustpilot-stars

My experience was great

My experience was great. The document loading was so easy. More finance companies should use this.


KRAZY BATZ

11 January, 2022

trustpilot-stars

Check & double check the application to documents

I was very pleased with the agents & was approved for my loan, then upon closing the loan the dropped my loan amount by 1/2. I was ready to take their offer until the agent asked me if I had any questions, so I asked her what was the reasoning behind the lower amount. She broke it down for me & they had me me getting paid from my job at less than 1/2 of what I make a month. So she recalculated the right income & my off came out to be $500 short of what I was originally approved for. Overall I’m very happy & would of given 5 stars if it wasn’t for the wrong amounts of my income to what they offered. Thankfully I asked that question so everything was corrected while I was on the phone. So One Main Agents please listen to the answers & type the info in correctly & double check all the documents you ask for to what you type while doing the application process then double check it before you give approved loan amounts & all other info that goes with it before asking the person to choose their loan options! Thank You for listening & giving me a chance to build my credit! I look forward to being a client!


HANS K

11 January, 2022

trustpilot-stars

great and fast service

great and fast service


JOHN P

11 January, 2022

trustpilot-stars

Very good experience

Very good experience. Tiffany did an awesome job to meet our requirements


KATHY TEVELSON

11 January, 2022

trustpilot-stars

One Main Financial was very…helpful

One Main Financial was very informative, and ensured that I was contacted when I had questions or issues.


MELISSA C

11 January, 2022

trustpilot-stars

One Main Financial is awesome!

I have used One Main Financial a few times. Each time, I have had an amazing experience dealing with the staff. They have been extremely friendly, helpful, and informative. The process has been extremely easy. I would recommend One Main Financial to all of my friends and family.


HAMILTON

11 January, 2022

trustpilot-stars

OneMain Connection

OneMain Connected me about the improvements to my credit standing and presented an offer to reduce the monthly payment. I took the opportunity and within a short time I was processed with a new lending deal, rate reduction, employment protection and funds in savings. Not bad for the new year!


ANGEL P

11 January, 2022

trustpilot-stars

My experience was very great

My experience was very great. The customer service was excellent and I will recommend this company to anyone who may need help.


ALIYAHSMOM

11 January, 2022

trustpilot-stars

Very professional and easy to work…

Very professional and easy to work with...easy and affordable payments. My second loan process was a breeze.


BERNARD H

11 January, 2022

trustpilot-stars

Very professional

Very professional


IRENE M

11 January, 2022

trustpilot-stars

The staff at One Main Financial are…

The staff at One Main Financial are always friendly. They have always been there for my financial needs. Thank You.


NINA HAMILTON

11 January, 2022

trustpilot-stars

Hank was very helpful and courteous

Hank was very helpful and courteous. I highly recommend One Main.


DOLORES SHIPLEY

11 January, 2022

trustpilot-stars

EVERYONE in the Danville office is…

EVERYONE in the Danville office is super nice, helpful... Any time I've needed extra money they have always been there for me. Thank You!!


ADRIEN P

11 January, 2022

trustpilot-stars

They were respectful and super helpful…

They were respectful and super helpful in getting me the loan I needed in a timely manner.


ANGEL B

11 January, 2022

trustpilot-stars

I mean so far so good

I mean so far so good. I got my money quick fast and easy. Painless process.

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