OneMain Financial: Personal Loans Review

  33,043 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   33,043 Reviews

trustpilot-stars

TASHA W

15 hours ago

trustpilot-stars

Great experience!

t was a very brief process and the agent was very informative and helpful!


SHARRY MYERS

15 hours ago

trustpilot-stars

They did everything I needed done

They did everything I needed done, and very professional and polite.


MAUMEA L

15 hours ago

trustpilot-stars

Gina was a big help for me to assist me…

Gina was a big help for me to assist me with my loan. It’s was easy to work with her I appreciate her help.


OMOTAYO B

16 hours ago

trustpilot-stars

Onemain is not a trusted loan company.

Onemain is not a trusted loan company.


BRIAN A

16 hours ago

trustpilot-stars

I have needed Onemain twice and there…

I have needed Onemain twice and there service has been great. My agent Was great as well .


SHWANDA C

16 hours ago

trustpilot-stars

The process was very quick and easy the…

The process was very quick and easy the only hold up was on my behalf submitting documents that could not be read. Otherwise on their end everything was wonderful. I actually got approved for more than I thought I would. I would truly recommend them.


CLIFTON B

18 hours ago

trustpilot-stars

Quick and efficient service

Quick and efficient service. Very helpful and flexible with adjusting to meet your needs.


DUNCAN

18 hours ago

trustpilot-stars

Best service ever!

Danesia (sorry for spelling errors) was absolutely incredible! She walked me through the entire process and got me more funds than I expected. Thanks to One Main our expensive credit card debt is now gone! One low easy payment per month is all they ask.


EDWIN P

19 hours ago

trustpilot-stars

Thanks a million

The service at One main Financial was great , the staff was quick and to the point . Elsa kept in contact with me from beginning to end . I had a great experience, thanks a million


CHRISTINE J

19 hours ago

trustpilot-stars

This is my second loan with OneMain

This is my second loan with OneMain. I love the easy process and everyone is always friendly. Debra was so helpful and knowledgeable. I will use OneMain again.


JACQUELYN W

19 hours ago

trustpilot-stars

The service and concern was great.

The service and concern was great.


CHRISTIANNA M

20 hours ago

trustpilot-stars

I had an excellent experience with the…

I had an excellent experience with the Belmont office in NH. The ladies there were very helpful and did everything to help me with my loan. They knew answers to my questions without a problem. I would absolutely go through them again for another loan. Everything was explained in detail with examples clear to the point. Thank you all for your help.


MAMIE P

20 hours ago

trustpilot-stars

My experience with OneMain Financial…

My experience with OneMain Financial was great! People were welcoming and gave me the opportunity to choose what I wanted.


CLIFFORD W

20 hours ago

trustpilot-stars

Extremely pleased

Professional service courteous representative, its much appreciated. Thanks!


GERIANNE S

20 hours ago

trustpilot-stars

I would like to take this time to thank…

I would like to take this time to thank you guys for helping me out in my time of need I appreciate all the good help I got thank you very very much I deeply appreciate it


RUDOLPH C

20 hours ago

trustpilot-stars

They were there when I needed them no…

They were there when I needed them no questions asked no embarrassing questions or any hard obstacles I highly recommend this company especially if you don't have the greatest credit.


KARMEN B

20 hours ago

trustpilot-stars

Great thanks to the team

Great thanks to the team, loan was quick .


ROSE GARCIA

21 hours ago

trustpilot-stars

It was an easy process and I really…

It was an easy process and I really appreciated that your company lent me the funds I needed. Thank you for them great service.


JACQUELINE S

21 hours ago

trustpilot-stars

The loan process was quick and…

The loan process was quick and efficient and I am very grateful


MARY BETH JARRELL

21 hours ago

trustpilot-stars

I was extremely well satisfied with the Asheboro one Main office and the ladies of the office

I was extremely well satisfied with the staff. They had helpful information and the entire loan process was stress-free. I will recommend this branch to anyone I know of that are looking to get a loan.


THOMAS K

21 hours ago

trustpilot-stars

TOTAL PROFESSIONALS !

TOTAL PROFESSIONALS !


RICHARD L

21 hours ago

trustpilot-stars

Very good service!!

Very good service!!


A. BROWN

21 hours ago

trustpilot-stars

Courteous informative representative

Courteous informative representative. She promised to have me in and out quickly & she did exactly what was promised.


AMANDA COATS

21 hours ago

trustpilot-stars

Kay was exceptional she was nice and…

Kay was exceptional she was nice and made the process seamless and this was the fastest I have ever completed business!!! Thanks Kay in Morrow GA


BRIAN B

21 hours ago

trustpilot-stars

Ginger and Megan were very helpful…

Ginger and Megan were very helpful throughout and made this loan happen for my family! Thank you!


MICHAEL C

21 hours ago

trustpilot-stars

My experience was very pleasant

My experience was very pleasant, and quick. My Loan agent was helpful and very knowledgeable with a detailed explanation of each aspect of the loan process. Thank You,


KRISTY F

21 hours ago

trustpilot-stars

They were awesome 😊

They were awesome 😊


COURTNEY HODGE BEST

21 hours ago

trustpilot-stars

Great to work with!

Great to work with!


RODRIZGUS R

22 hours ago

trustpilot-stars

Great experience

Great experience, Thanks Mrs. Amy


CHRISTOPHER R

22 hours ago

trustpilot-stars

Give these folks a call

Friendly, patient and accommodating loan officers that work to get you the best possible financing at rates within your budget. Vicky, Victoria and the rest of the team in Martinsburg are the best!


LEONARD S

22 hours ago

trustpilot-stars

The person who helped me was good at…

The person who helped me was good at her job.


SHARI W

22 hours ago

trustpilot-stars

Thank you all for your efforts

Thank you all for your efforts. Very greatful.


JAMI L

22 hours ago

trustpilot-stars

Very friendly

Very friendly


MARY SAPP

23 hours ago

trustpilot-stars

Customer service was excellent and very…

Customer service was excellent and very quick due to items being in beforehand. Observed how personal and professional with other customers they will always have me as customer and will definitely recommend others great experience 5 star service,


CHARLES B

23 hours ago

trustpilot-stars

One Main loan

The agents that I worked with for excellent they were friendly and knowledgeable and they did a great job thank you very much.


MELISSA C

23 hours ago

trustpilot-stars

Thanks so much to Chris!

Thanks so much to Chris at the Morganton location on East Fleming! Her and her associate Melissa really helped me through the long process!


CHRISTINA H

23 hours ago

trustpilot-stars

Excellent Customer Care

Thanks so much for the patience, kindness and efficient service- I truly appreciate it!


NICHOLE R

23 hours ago

trustpilot-stars

Lebanon, PA office

The staff at the Lebanon, PA office were AMAZING! I put my application online on a Sunday night, called the office Monday morning and picked up my new car on Wednesday. amazing service and attentiveness!!


RUSSELL E

23 hours ago

trustpilot-stars

Maggie was very helpful and…

Maggie was very helpful and informative!!!!!!!!!!!!!!!!!!!


ERROL BAILEY

23 hours ago

trustpilot-stars

One main os absolutely outstanding for…

One main os absolutely outstanding for services, especially in an emergency, no problem at all. Only draw back is the large interest rate charged to obtain loan... yes I understand they go that extra step to help, so I guess an interest rate is needed to back up their risk.. I am greatful for that extra hand in helping me out of dilemma 🙏 that I am truly greatful and now to keep my credit in a immanagable situation... again greatful 🙏..


A. W.

23 hours ago

trustpilot-stars

Everything was prompt Professional and…

Everything was prompt Professional and unbelievably smoothly Comfortable. Michelle is Fantastic!!—AW


AALIYAH

23 hours ago

trustpilot-stars

Great experience

Great experience. Nice easy process to go through.


JOYCE R

23 hours ago

trustpilot-stars

Everyone I spoke with was amazing

Everyone I spoke with was amazing, very helpful and respectful.


HOUANE L

03 August, 2021

trustpilot-stars

Awesome thanks for every

Awesome thanks for every


JULIA

03 August, 2021

trustpilot-stars

Amazing service

Amazing service Quick easy and so helpful Amy is amazing


GARY DELGADO

03 August, 2021

trustpilot-stars

Carmen and Andrea were awesome and the…

Carmen and Andrea were awesome and the process was so efficient and fast!!! Thank you!!!


MARK D

03 August, 2021

trustpilot-stars

They made it easy helped with questions…

They made it easy helped with questions very good customer service and support


ARNOLD J

03 August, 2021

trustpilot-stars

Very helpful in dealing with this old…

Very helpful in dealing with this old fart. I'm not up to date on Technology. Thanks JC for your help. Bud Juenger.


TINA T

03 August, 2021

trustpilot-stars

Being in the same business my…

Being in the same business my expectation is probably high. But Francesca at the Woodstock location is one of those talented people I’ve seen in the loan business. Quick to get back with a response ,very helpful going over everything in detail. This is where I will keep my business


VALERIE S

03 August, 2021

trustpilot-stars

I think Rachel was Awesome

I think Rachel was Awesome

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