OneMain Financial has been helping people with loan solutions since 1912, and is a large network of local branches. The company provides personalized loan solutions, and one-on-one local services.
OneMain Financial offers a variety of repayment and term options. You can make payments by phone, online or through a local branch. The company works to provide you with money when you need it.
|Product Name||OneMain Financial Personal and Auto Loans|
|APR||Starting typically around 18.49%*|
|Min Loan Amount||$1,500 (subject to state minimum size restrictions)|
|Max. Loan Amount||$25,000|
|Loan Term||Typically from 24 to 60 months|
|Requirements||Loan approval and actual loan terms depend on your ability to meet OneMain’s standard credit criteria (including credit history, income, and debts) and if applicable, the ability to provide collateral. Collateral offered must meet OneMain’s criteria.|
OneMain Financial overview
If you need a personal or auto loan, OneMain Financial can get you funded quickly with a term that works with your circumstances. OneMain Financial personal loans can be used for a variety of purposes, like debt consolidation, home repairs, travel costs and unexpected bills.
The company works with a “no surprise” approach, and rate, payment and term are all fixed. You will know exactly when you are expected to pay off your loan.
If you have bad credit, you can still apply for a loan. In most cases, if you are approved by noon, you can receive your loan as soon as the same day. OneMain loan proceeds may be disbursed by check, Automated Clearing House (ACH) deposit, or a prepaid card. Receipt and availability of loan proceeds varies based on the funding option selected. You can contact a OneMain loan specialist for additional information about funding options and funds availability.
OneMain Financial offers loans with a fixed rate and many credit decisions are communicated the same day after the company reviews your information to determine creditworthiness and ability to pay back the loan. Depending on your state of residence, you can get a loan between $1,500 (subject to state minimum size restrictions) and $25,000. Higher loan amounts may be available to highly qualified applicants who can provide collateral. Collateral offered must meet OneMain Financial’s criteria.
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Benefits of OneMain Financial personal and auto loans
- No hidden fees. You don’t have to worry about hidden fees, rate expiration periods or early payment penalties with a loan from OneMain Financial.
- Quick funding. If you are approved by noon during a business day, you could get funding the same day. A OneMain loan specialist can provide additional information about funding options and funds availability.
- Poor credit OK. If you have a poor credit score, you can still apply for a loan. OneMain Financial doesn’t have a hard minimum credit score requirement.
More features to consider
- Loan products. OneMain Financial offers personal loans to fit a variety of needs, in addition to auto loans. The terms are clear, and typically from 24 to 60 months.
- Rates. All rates are fixed, and APRs typically start at typically around 18.49%*.
- Seven-day satisfaction commitment guarantee. If you change your mind about a loan with OneMain Financial, you have seven days to cancel. Return all loan proceeds and sign a cancellation agreement within seven calendar days from the date of the loan. You can talk to a OneMain loan specialist for more details.
- Branches. The company has nearly 1,700 branch locations in 44 states.
- Loan amount. You can borrow from $1,500 (subject to state minimum size restrictions) to $25,000. Higher loan amounts may be available to highly qualified applicants who can provide collateral. Collateral offered must meet OneMain’s criteria. Loan amounts are also subject to state specific minimum and maximum size restrictions. California minimum loan amount is $3,000. Georgia minimum loan amount is $1,500 for present customers and $3,100 for others.
- Eligibility. Loan approval and actual loan terms depend on your ability to meet OneMain Financial’s standard credit criteria (including credit history, income, and debts) and if applicable, the ability to provide collateral. Collateral offered must meet OneMain Financial’s criteria.
- Loan restrictions. OneMain Financial loan proceeds cannot be used for postsecondary educational expenses as defined by the Consumer Financial Protection Bureau’s Regulation Z, such as college, university or vocational purposes; for any business or commercial purpose; to purchase securities; or gambling or illegal purposes.
- Minimum income requirement. OneMain Financial has no minimum income requirement.
*Annual percentage rate (APR) of 18.49% represents APR for top 10% of loans booked in January 2017 through March 2017. Maximum APR is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan.
How to apply for a OneMain Financial loan
- Be a US citizen or permanent resident.
- Meet your state’s minimum age requirement.
- At least some established credit history.
You can apply for a loan online or through a branch. OneMain Financial requires the following information and documentation:
Required documents & information:
- Your full name and contact information.
- Proof of a government-issued ID, like a driver’s license or passport.
- Your Social Security number and date of birth.
- The loan amount and what you intend to use it for.
- Your employment status and income.
If you have poor credit but need money fast, OneMain Financial offers loans that can help. Before choosing OneMain Financial, be sure to compare it with other lenders.
Frequently asked questions about OneMain Financial
Is OneMain Financial safe?
OneMain Financial has provided loans to over 10 million customers, and has over 100 years of service and reputation to back it up. Your information is kept safe using SSL encryption, and all data is carefully managed. Learn more about OneMain Financial’s security protocols.
Does OneMain Financial provide any additional resources?
Yes. There is a financial calculator, money management course and travel tips available for free through OneMain Financial’s website.
How often can I make payments?
You can make as many payments as you like as often as you like, but they are only due monthly.