OneMain Financial: Personal Loans Review

  37,636 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   37,636 Reviews

trustpilot-stars

JULIA EVANS

22 January, 2022

trustpilot-stars

I drive many miles a day for work and…

I drive many miles a day for work and needed to quickly empty my bladder before signing the documents today but the lady at the Broken Arrow, OK location said her bathroom was not for public use due to COVID. She was not even our lender. Steven, our lender, said I could use the restroom. But she spoke up and said, “UM…remember that email that came out a while back?” So before I could sign my papers, I had to leave and look for a place to use the bathroom. It was almost 4:45 and she knew if I was not back by then, I was not going to get my loan. She is pretty wrong for that. I made it back with four minutes to spare.


ROSIE DUNN

21 January, 2022

trustpilot-stars

True Dedicated Employee

I hope this review is seen by customer service representative at OMF so that Justin Mendoza receives notice that I as a customer really really appreciated that he would not let me give up on resetting my online account. He was well spoken, patient, professional, and would not give up on getting my account back for me to see online. I said after about 15 minutes, Justin I'll try some other time and he politely said, no matter how long it takes I will figure it out and get you back online. Justin did just that 😊 I give Justin 10 stars 🌟.


AMOS C

21 January, 2022

trustpilot-stars

Everything was great!

Everything was great!


CUSTOMER

21 January, 2022

trustpilot-stars

Top notch Excellent customer service

Top notch Excellent customer service


TONYA B

21 January, 2022

trustpilot-stars

Loan process was quick and easy…

Loan process was quick and easy personally it was quite easy quick and the lady that handled my loan was very professional and very nice my credit is not great but no judgment was made which is very rare thank you I will be using one main financial in the future


CUSTOMERANGIE

21 January, 2022

trustpilot-stars

I had a great experience with One Main…

I had a great experience with One Main Finacial. I believe it was Michelle that helped me and she was very pleasant throughout the whole process.


MARYANN RIZZO

21 January, 2022

trustpilot-stars

very unhappy with my…

very unhappy with my experience.....after three days of sending them all the information they wanted......they told me i was approved and the money would be sent to my debit card the next day.....i received nothing and when i finally spoke to someone on the phone (not the person) I was dealing with I was told I was denied with no explanation.....by the way I have excellent credit and i'm employed full time.


JAMES F

21 January, 2022

trustpilot-stars

Comfort

I was quite surprised how things went!!! I s was totally expecting a certain level of being uncomfortable but it wasn’t that way at one main!!! Very grateful with the way they made me feel!!! Thanks


A RIDE

20 January, 2022

trustpilot-stars

The process was quick and easy and they…

The process was quick and easy and they even offered alternative options to better fit my needs.


MARCELLE SIMS

20 January, 2022

trustpilot-stars

I am not tech savvy

I am not tech savvy, just recently bought A Smart Phone not familiar with all the nuances regarding this technology. I have never did an electronic loan application. Courtney was great 👍 she talked me thru it.Overall it was a very pleasant experience.


VICTORIA K

20 January, 2022

trustpilot-stars

Best Experience Ever

Best Experience Ever From start to finish my experience with OneMain was nothing short of exceptional. Nick was super informative with the options I had available and we found one that fit my needs and my budget.


YONA G

20 January, 2022

trustpilot-stars

Excellent customer service

Excellent customer service. Very professional.


FLOYD GREVE

20 January, 2022

trustpilot-stars

Absolutely the best

The staff at the branch office I went to was very inviting and casual. They made us feel like we were people and not just a number. We were treated with respect and dignity. The loan officer we had was very knowledgeable and polite. The branch manager even introduced herself and made sure that we were being taken care of and that we understood the loan process and products. All in all I couldn't be happier or more pleased with every step of the loan.


SCOTT CRUMLEY

20 January, 2022

trustpilot-stars

OneMain has always been there for our…

OneMain has always been there for our financial needs. The staff is exceptional, courteous, helpful and knowledgeable. Tremendously tremendous!!


LORI YEARICK

20 January, 2022

trustpilot-stars

Best company ever!!!!

One Main has always helped me when I need it most. The staff at One Main are extremely friendly and very helpful with any questions or concerns I may have. I would definitely recommend One Main for your financial needs. They are a very trust worthy and honest company.


LABNGLIDERMOM

19 January, 2022

trustpilot-stars

Always a Great Experience

I have had loans with One Main before - so when I knew I was going to need another loan, they were the first option on my list. Bobbi is always helpful and attentive and as usual my experience was fantastic! I applied, was approved and signed all paperwork electronically on a Friday - I had funds by Tuesday. Excellent experience overall!


MARIA

19 January, 2022

trustpilot-stars

Great experience!

So thankful for the quick and easy loan process. Friendly staff who are well trained too!


KATHY SMITH

19 January, 2022

trustpilot-stars

Make them your first call

One Main was awesome to deal with. Reviewed options and explained everything. Gabby from the Bound Brook Branch was great to sea with.


JULIE GRISWOLD

19 January, 2022

trustpilot-stars

This was a great place and everyone…

This was a great place and everyone knew that they were doing. Very friendly


JEROME H.

19 January, 2022

trustpilot-stars

These folks found a loan that fit me…

These folks found a loan that fit me and my situation perfectly.


FRANCES SLOAN

19 January, 2022

trustpilot-stars

Staff was very knowledgeable & helpful

Staff was very knowledgeable & helpful. Work you on your income basis.


KJ

19 January, 2022

trustpilot-stars

Outstanding service!!!

Outstanding service!!!


JULIE WISE

19 January, 2022

trustpilot-stars

Great customer service

Excellent service


RICARDO L

19 January, 2022

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great customer service she explained 👏…

great customer service she explained 👏 step by step thank 😊 you much


MARK P

19 January, 2022

trustpilot-stars

very nice experience

very nice experience. I was even offered more money than i needed.


WENDY S

19 January, 2022

trustpilot-stars

Susan was amazing and really knew her…

Susan was amazing and really knew her stuff. I felt welcomed and all my questions were answered. I am impressed and have recommended you to several friends!


JULIE W

19 January, 2022

trustpilot-stars

They were very helpful

They were very helpful, attentive, accomodating and quick.


BUDDY VISSER

19 January, 2022

trustpilot-stars

Outstanding

Great people to work with. They are very helpful.


JUDYRICHFIELD

19 January, 2022

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Johanna made it very easy and quick…

Johanna made it very easy and quick ,thank you


JAMES H

19 January, 2022

trustpilot-stars

Steve did an awesome job of making the…

Steve did an awesome job of making the whole experience smooth and painless. His demeanor was professional as well as personal and efficient.


VIVIAN H

19 January, 2022

trustpilot-stars

You guys are the best

You guys are the best! Nobody likes having to take out a loan just to get by, but you go out of your way to do the best for your customers. Fast, friendly, and helpful. Thank you, stay safe and God bless ❣


DONNA T

19 January, 2022

trustpilot-stars

I was very satisfied with my experience…

I was very satisfied with my experience with the loan application process from my first call with Brooke Hill, until I came to sign papers, and finish all of the paperwork. She was very friendly, helpful and made the process pain free. She's doing a great job and everything came together so fast, and i was so satisfied with everything. She needs to be commended for the great job she's doing for customers. I will definitely tell others about the Marion office and Brooke and refer people there and keep you all in mind, when I need a loan in the future.


CHRISTY

19 January, 2022

trustpilot-stars

I have always been treated with respect…

I have always been treated with respect by the One Main staff. Megan has always been very professional and knowledgeable in helping me with my loan needs. I really appreciate the help!


COSMOND D

19 January, 2022

trustpilot-stars

One main is pretty much guaranteed to…

One main is pretty much guaranteed to help you when in need,no hassle or long wait. You apply today and get the funds within hrs. The people on the team are very friendly and make you feel at home.


DOLLY KAY

19 January, 2022

trustpilot-stars

They were very helpful and friendly…

They were very helpful and friendly service


FRANK C

19 January, 2022

trustpilot-stars

Stephanie made it real easy and fun…

Stephanie made it real easy and fun thank


MRS F.

19 January, 2022

trustpilot-stars

My experience

I really enjoyed it, she was very polite, fast, friendly and courteous. She did her job to the T.


EM FROM FL

19 January, 2022

trustpilot-stars

GREAT SERVICE

The staff is friendly, efficient and very knowledgable. I really appreciate all their assistance.


ELAINE SELKOWITZ

18 January, 2022

trustpilot-stars

Kayla was very helpful and made the…

Kayla was very helpful and made the process Completely simple and understanding.she was a pleasure to work with.


FRANCIS W

18 January, 2022

trustpilot-stars

Thanks for giving me a chance

Thanks for giving me a chance, looking forward to take care of my part


DEBORAH J

18 January, 2022

trustpilot-stars

Great service and friendly staff.

Great service and friendly staff.


CYNTHIA K

18 January, 2022

trustpilot-stars

applied for loan

applied for loan, received loan, and got payments I can live with. Can't beat that with a stick. Thank you OneMain!!


DENNIS M

18 January, 2022

trustpilot-stars

you are a little high priced but you…

you are a little high priced but you are great. linwood at the store in waynesboro va is great


JEANETTE JONES

18 January, 2022

trustpilot-stars

Always a quick and easy experience.

Always a quick and easy experience.


BERNICE

18 January, 2022

trustpilot-stars

Great service and professionalism

Great service and professionalism


DR. BUTLER

18 January, 2022

trustpilot-stars

Unfortunately they were unable to help…

Unfortunately they were unable to help me. No problem. They told me congratulations I was approved they just needed to verify income. I tried explaining special circumstances the agent Adriana was not willing to to take time to listen. This is a zero based credit agency. Thankfully I was able to move to an agency based on credit and get an approval and they considered all income and was considerate of all income as it is still based on me and my previous work years. 5 days vs 1 day and I never had to chase the other company down for an answer. Dr. B


CARLA GONZALEZ

18 January, 2022

trustpilot-stars

It was fast easy and secure

It was fast easy and secure, very nice experience. Thank you


CLARK W

18 January, 2022

trustpilot-stars

Very fast

Very fast. The people are great.


FATIMA LY

18 January, 2022

trustpilot-stars

Great experience

Quick response, very professional and efficient. Easy and simple paperwork


STEVEN F

18 January, 2022

trustpilot-stars

Candy was extremely helpful in helping…

Candy was extremely helpful in helping me through the process and explained everything I needed to know

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