OneMain Financial: Personal Loans Review

  43,647 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   43,647 Reviews

trustpilot-stars

TERENCE SMITH

13 hours ago

trustpilot-stars

guy at the westbury branch was very…

guy at the westbury branch was very helpful and a real proffesional thank you for all your help guy.


PAMELA JONES

14 hours ago

trustpilot-stars

Terrific and Fast

Sorry that it has taken me a couple of weeks to submit this review...My Rep. Melissa at the Southside Blvd. branch in Jacksonville, Fla. was polite and knowledgeable. I talked to her on the phone on a Wednesday and the funds were applied to my checking account the next day Thursday....I needed the extra funds for car repairs...


ROBERT CANSELO

14 hours ago

trustpilot-stars

Excellent customer service

Very professional, efficient , and was willing to help me any possible I needed


LINDA SHELTON

15 hours ago

trustpilot-stars

Working with OneMain Financial was a breeze

Working with OneMain Financial was a breeze. Within hours, I knew if I would be approve and the amount. I felt secure in giving my information, which was an easy process. And I love that the loan can be paid early, with no penalties. I have a low credit score, due in part to not having enough credit and had been denied by so many, that I almost gave up hope, until now. I highly recommend OneMain Financial if you are looking to build credit.


MICHAEL H

15 hours ago

trustpilot-stars

Jessica Alvarez is Awesome!

Jessica Alvarez is Awesome! she is thoughtful, intelligent, and just really great at her job. I always feel important when i work with her. TOP NOTCH!!


TODD

15 hours ago

trustpilot-stars

Couldn’t have been easier

Couldn’t have been easier. Thank you!


VERGARA DE LIMA, JOSE R

15 hours ago

trustpilot-stars

Although I appreciate your cooperation, please help me with the payment to Oportun ASAP !!

Although I appreciate your collaboration I think there are things to improve, from the moment I submit my online application I was never called to follow up on my application. Only more than a week later I had to go to the nearest office of One Main Financial and there I was put in telephone contact with Danisha who advised me during my process. However, I received an email, then another and then another with more and more requirements than they needed to study my application instead of sending a single one with everything they needed in such a way that one can prepare and send it all together from the beginning. Finally after two weeks and having to be the one who took the initiative to call and follow up on my request they finally made the transfer to my bank account. I am concerned that a direct payment is still pending that you were left to make to Oportun with whom I had a loan and that payment has not been made and they are charging me days of delay when it was assumed that One Main Financial would make the payment the same day that they made the transfer to me. Thank you


PAUL LOPEZ

16 hours ago

trustpilot-stars

Good bisness

Good bisness


JOYCE BUTTS

16 hours ago

trustpilot-stars

The lady that helped me was very nice…

The lady that helped me was very nice and knowledgeable and answer all my questions.


CLARENCE BANKS/THANKING MAIN

16 hours ago

trustpilot-stars

I WAS 100% SATISFIED WITH HOW MS

I WAS 100% SATISFIED WITH HOW MS. CATRINA HANDLE ME AS A CUSTOMER. SHE HANDLED,AND EXPLAINED EVERYTHING WHERE I COULD UNDERSTAND.SHE WAS VERY VERY PROFESSIONAL AND DIDN'T DRAG THE APPOINTMENT ON TOO LONG. THANK YOU!


BILL

16 hours ago

trustpilot-stars

The whole experience was great

The whole experience was great! It was a very easy process and they walk you through it. We have used them in the past and will continue use them in the future.


ANN LINDSLEY

16 hours ago

trustpilot-stars

Very good Experience

The lady that helped me was very nice and explained everything in detail. She also answered all my questions and was a pleasure to speak with. Not a quick process.


RHONDA RAWSON

16 hours ago

trustpilot-stars

It was easy to apply on line

It was easy to apply on line! I applied over the weekend. On the next business day I received a phone call where we finished the process and the loan funds were available the next day. I’ve had previous experience with OneMain Financial all the way back to when they were Citifinancial and I’ve always received excellent customer service. I recommend OneMain Financial as the place to consolidate any debts a person may have, who is looking to consolidate.


SHIRLEY CUTHBERTSON

17 hours ago

trustpilot-stars

My experience was good

My experience was good. I will recommend this company to family and friends.


SHORTY MORRIS

17 hours ago

trustpilot-stars

FAST & EASY & FRIENDLY

FAST & EASY & FRIENDLY


MARY ESCUDERO

17 hours ago

trustpilot-stars

The manager was amazing

The manager was amazing! At Escondido office by Target on valley parkway and his employee @ best customer service!!


JENNIFER

17 hours ago

trustpilot-stars

I really appreciate the he…

I really appreciate the help that you provided for me, the workers was very professional customer service was excellent and I would recommend your company to others. Thanks again.


JONATHAN COLEMAN

18 hours ago

trustpilot-stars

Smooth and easy process with a friendly…

Smooth and easy process with a friendly team.


LISA SCHIFFMAN

18 hours ago

trustpilot-stars

The process working with the Cathedral…

The process working with the Cathedral City office was easy and pleasant. The only problem had to do with the software in loading documents. Thank you. Lisa Schiffman


LEROY WILLIAMS

18 hours ago

trustpilot-stars

It's A Pleasure Doing Business With You!

The Representative I dealt with was knowledgeable, polite, professional and very helpful


ORA MORGAN

18 hours ago

trustpilot-stars

My experience was great my rep did…

My experience was great my rep did everything to make sure I was help and I thank you all for being able to help me in a time Like this


ARVILEE BRANCH

18 hours ago

trustpilot-stars

They have always shown respect n…

They have always shown respect n customer service to the T,


ALEJANDRO PICAZO

18 hours ago

trustpilot-stars

Excellent customer service!!!

Thank you for the opportunity and for going above and beyond. Marisol had the patience to wait for me to locate all my proper documents and after 3 weeks waiting for me to locate them, she got me approved and deposited the same day. Thank you.


BETTY RUMLEY

18 hours ago

trustpilot-stars

I was very pleased with my experience…

I was very pleased with my experience with your team. They answered all my questions in a timely manner. I will tell all my friends about you.


ELLEN

18 hours ago

trustpilot-stars

I can’t thank Hannah enough for helping…

I can’t thank Hannah enough for helping me through the loan process. I needed to get my car fixed and some bills paid off and on a fixed income I didn’t think I would qualify. Hannah was so kind and helpful. OnMain Financial has been great to work with. Thank you so much and a special thank you to Hannah.


PATRICIA M

19 hours ago

trustpilot-stars

This was an easy process

This was an easy process, just took longer than I thought. Everyone was very nice and helpful


SUSAN HOMINIUK

19 hours ago

trustpilot-stars

Good reviewer

Good reviewer


TIM

19 hours ago

trustpilot-stars

Excellent service in a timely manner

Excellent service in a timely manner. Extremely helpful always explains your contract and leaves no stones unturned. Thanks One Main Financial


JANET JACOBS

20 hours ago

trustpilot-stars

unbelieveably smooth

unbelieveably smooth


PAMELA PAGAN

20 hours ago

trustpilot-stars

Billy did a great job and my experience…

Billy did a great job and my experience was smooth and quick. Thank you for always being there. 🙏🏽❤️


FRANCESCA GRASSI

20 hours ago

trustpilot-stars

Lack of employees?

I started out speaking with Rebecca who you could tell was a newer employee as she was very timid on the phone. Given this wasn't my first experience with One Main, I expected a smooth transaction as I had before. I spoke to her on Monday and never received a call back from her or anyone at the Scarborough branch. I called several times and left messages but no replies. I called the Augusta branch Wednesday as I just wanted to find out what was going on and they told me they could see approval options in the system and I should call back the Scarborough office after 4:30 and perhaps someone would answer. After being left hanging for 2 days with no return calls from anyone in the office, I completed the transaction with Derrick who mentioned Rebecca was no longer with them. Apparently no one listens to the messages in the general mailbox. This is generally a smooth process but perhaps the lack of employees hindered the great service I had in the past. Both Derrick and Tony who assisted me with signing the closing documents were knowledgeable and made up for the lack of service I received from Rebecca.


JEFFREY KIRBY

20 hours ago

trustpilot-stars

Everything was great

Everything was great. Yvette was awesome, and I got my loan processed during my lunch break! Amazing.


JOSHUA LOSINGER

20 hours ago

trustpilot-stars

Great people great attitudes.

Great people great attitudes.


ROZENA K

21 hours ago

trustpilot-stars

My experience was awesome I actually…

My experience was awesome I actually learn how to do my own emailing and send information without the help of my son Thanks to your wonderful employee....He was Professional.... Patient.... Courteous.... I'm a very satisfied customer


DEBRA WELLS

21 hours ago

trustpilot-stars

Extremely good service

Extremely good service. The entire olffice was friendly and helpful


JEFFERY HAGIN

21 hours ago

trustpilot-stars

Fast

Fast, informative, and very professional. I highly recommend this financial institution to everyone


SYLVONDA GAINES

21 hours ago

trustpilot-stars

Great customer service

Service was great and also had different options. Closing was fast and everything was explained very well. Will definitely use again and refer othets


SUSAN APPLING

21 hours ago

trustpilot-stars

EASY

I had a super easy and smooth experience. Ali answered all my questions and made everything much easier than I expected.


ANDRIA MANCE

21 hours ago

trustpilot-stars

The ladies were so helpful and friendly.

The ladies were so helpful and friendly.


CUSTOMER

21 hours ago

trustpilot-stars

Brittany was extremely patient and…

Brittany was extremely patient and helpful. Hope she stays there.


EVERLEANER ALLEN

21 hours ago

trustpilot-stars

Service was professional and the staff…

Service was professional and the staff was very friendly and helpful.


MICHAEL

21 hours ago

trustpilot-stars

overall,fine

overall,fine. took a little to long to gather info. as i had a current loan,but still o.k.


CIERRA DAVIS

22 hours ago

trustpilot-stars

Fast easy service

Fast easy service. Mr. Johnny in the Northport location helped me every step of the way!!!! Thank you Mr. Johnny!


KIM PAUGH

22 hours ago

trustpilot-stars

This was very easy & the loan officer…

This was very easy & the loan officer was very helpful


M. ABDULHAQQ

22 hours ago

trustpilot-stars

The agents were courteous and very…

The agents were courteous and very knowledgeable. My loan request was handled very quickly and efficiently. This was a wonderful experience for me.


EFREN DOMINQUEZ

22 hours ago

trustpilot-stars

muchas gracias x darme la oportunidad…

muchas gracias x darme la oportunidad de tener el credito que estaba buscando, Dios les bendiga siempre


MAYRA DIAZ SALAZAR

22 hours ago

trustpilot-stars

Excelente

Experiencia muy buena Profesional y excelente en el trato y la solución a mi problema. Gracias.


MICHAEL MOYLE

22 hours ago

trustpilot-stars

Needed money they made it happen

Needed money they made it happen, very nice people, couldn't of asked for better experience


ANGELA RUPPE

22 hours ago

trustpilot-stars

I was encouraged to apply for…

I was encouraged to apply for additional money when I called to tell them I was going through financial problems and couldn't make that months payment. I submitted everything asked. I was told to come in and sign the papers. All looks good!!! I get there and I'm denied. I should of been told over the phone. I got off work early. I had my injured husband get out of his sick bed. It was not a good thing. Highly disruptive and disappointing.


MICHAEL MAGEE

22 hours ago

trustpilot-stars

Great people to deal with!

I was supposed to be doing this deal over the phone but my work schedule got in the way and they had no problem with that and took me in person last minute of the day! That helped me out a lot! This is my 3rd loan with OneMain and I always recommend you to everyone!

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