OneMain Financial personal loans review March 2019 |

OneMain Financial personal and auto loans review

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An online and in-store lender with reasonable turnaround time.’s rating: 3.6 / 5.0


OneMain Financial has been helping people with loan solutions since 1912. With a large network of branches, it provides personalized loan solutions and one-on-one local services. Although you won’t have access to the largest loan amounts out there, you’ll be able to get your loan quickly — saving you time.

Product NameOneMain Financial Personal and Auto Loans
APR16.05% to 35.99%*
Min Loan Amount1500 (subject to state minimum size restrictions)
Max. Loan Amount$30,000
Loan TermTypically from 2 to 5 years
RequirementsLoan 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.

What types of loans does OneMain Financial offer?

OneMain Financial offers unsecured and secured personal loans that can be used for a variety of purposes, including debt consolidation, home repairs, travel costs and unexpected bills. It works with a “no surprise” approach. Your interest rate, payment and loan term will all be fixed.

Loan decisions are made after OneMain Financial reviews your application. Acceptance or denial is based on your financial situation, credit score and ability to pay back the loan. Depending on your state of residence, you may be able to get a loan between 1500 (subject to state minimum size restrictions) and $30,000. Higher loan amounts may be available to highly qualified applicants who can provide collateral.

Some states have minimum loan amount restrictions. Residents of California must borrow at least $3,000. If you’re a resident of Georgia and not a current customer, you must borrow at least $3,100.

What makes OneMain Financial unique?

OneMain Financial hasn’t forgotten its roots in traditional banking experience. It offers fair, affordable loans along with financial education to help you plan for the future, and it accepts applicants who may not have the best credit.

Unlike many other providers, OneMain Financial allows you to receive your loan as a prepaid card or as a direct deposit into your bank account. In addition, the loan process isn’t completely online. If you’re preapproved, you’ll be able to meet with someone face-to-face to discuss your loan and finalize your application.

Compare OneMain Financial to other top loan providers

Rates last updated March 19th, 2019

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Name Product Product Description Min. Credit Score Max. Loan Amount APR
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
5.34% to 35.99% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit.
3.99% to 35.99% (fixed)
Upgrade Personal Loans*
Affordable loans with two simple repayment terms and no prepayment penalties.
7.99% to 35.89% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
6.95% to 35.89% (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
5.99% to 16.49% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
34% to 155% (Varies by state) (fixed)
Best Egg Personal Loans
A prime lender with multiple repayment methods.
640 FICO®
5.99% to 29.99% (fixed)
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
3.84% to 35.99% (fixed)

Compare up to 4 providers

Benefits of OneMain Financial personal and auto loans

  • Fast turnaround. If approved before noon on a business day, you could receive your funds the same day. A OneMain loan specialist can provide additional information about funding options and funds availability.
  • Secured loans available. You have the option to apply for a secured loan with collateral, which may result in a larger loan amount.
  • Poor credit applicants considered. 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.
  • 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.
  • Multiple branches. The company has nearly 1,700 branch locations in 44 states.

*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.

What to watch out for

  • Loan purpose restrictions. OneMain Financial loan proceeds can’t be used for postsecondary education expenses, business or commercial purposes, to purchase securities or for any gambling or illegal expenses.
  • Stiff penalties for late payments. If you miss or make a late payment on a loan, you could pay high late fees. If you continue to miss payments and default on a secured loan, you risk losing your collateral.
  • State availability. OneMain Financial doesn’t operate in the following states: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont and Washington D.C. If you live in one of those states, you’ll have to look elsewhere for a loan.
  • Must complete process at a branch. If you’re looking for a loan that’s completely online, you’ll want to compare other lenders. Even if you apply online, OneMain Financial requires borrowers to visit a branch to get funding.
  • Full coverage insurance required for collateral. If you take out a secured loan, OneMain Financial requires you to have full coverage on the vehicle you use as collateral.

What does the Internet have to say about OneMain Financial?

OneMain Financial is a Better Business Bureau (BBB)-accredited company with an A+ rating based on factors like business practices and advertising. It has and over 1,200 reviews as of July 2018, 80% of which are positive. It also scores a 9.1 out of 10 on Trustpilot, based on over 3,600 reviews.

Positive notes include the excellent customer service offered by the employees at individual locations and the quick turnaround for approval. Negative notes include the borrower not understanding the full information about a loan before signing, problems with OneMain Financial releasing vehicle titles after the loan has been paid and problems with credit reports not being immediately updated after customers paid off the loan.

Is OneMain Financial legit?

Yes. OneMain Financial is a legit business that has been providing loans and other credit-related products to more than 10 million customers for more than 100 years. It safeguards your personal and financial information through website encryption protected by Norton Security. It also has a standard Privacy Policy that outlines how your personal information is used by the company.

How to apply for a OneMain Financial

Once you’ve confirmed you meet OneMain Financial’s eligibility criteria, you can start the application online or at a local branch. If you apply online, you’ll still have to complete the process at a branch location to get the funds.

Eligibility criteria:

  • At least some established credit history.
  • Be a US citizen or permanent resident.
  • Meet your state’s minimum age requirement.

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.

Bottom line

OneMain Financial can be a good fit for people who have a credit score of 600+ but may have dings on their credit report from other factors. Before making a final decision regarding a loan, make sure to look at all of your options and read the fine print and browse your other personal loan options so you know you’re making a positive financial decision. If this lender isn’t the right choice for you, consider other loans like OneMain Financial.

Frequently asked questions

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★★★★★ — Average

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★★★★★ — Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

Aliyyah Camp

Aliyyah Camp is a publisher helping folks compare personal, student, car and business loans. Prior to joining Finder, she ran her own personal finance blog and wrote for numerous finance sites. Aliyyah earned a BA in communication from the University of Pennsylvania. She regularly attends industry conferences to stay in the know about market changes that can affect consumers. When she's not helping people with their personal finances, you can find her at the movies or going for a run outdoors.

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US Personal Loans Offers

Important Information*
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

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4 Responses

  1. Default Gravatar
    CocoaJune 12, 2017

    I’m asking you guys to please help me! By looking at my background, I did’t make the right choices in life (in late payments and minimum payments monthly), cause my Credit being ruined. Now I understood for awhile (Months later), in order to pay your bills on time and send more than the minimum I will go far. I’m asking and begging you to help and loan me $22,000? $1, 000 or $2, 000 isn’t really helping because of Doctor bills, money towards my caf and other bills I owe. I need to start over and Not making the same mistake Again.

    • Default Gravatar
      LiezlJune 18, 2017

      Hi Cocoa,

      Thanks for reaching out. Just to confirm, though, you have reached – a comparison website and general information service, not actually OneMain Financial.

      If you want to apply for a personal loan, please contact OneMain Financial directly. Please make sure you confirm that you meet the eligibility criteria before you submit your application.

      Alternatively, you can check this page for other lenders who might offer you a loan. Better still, speak to a personal loan broker who can help you find a suitable lender.

      I hope this has helped.

      Kind regards

  2. Default Gravatar
    StephanieJune 3, 2017

    Are there any loans for immigration purposes?

    • finder Customer Care
      HaroldJune 19, 2017Staff

      Hi Stephanie,

      Thank you for your inquiry.

      A guide here might be helpful for you.

      I hope this information has helped.


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