OneMain Financial personal and auto loans review

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 NameOneMain Financial Personal and Auto Loans
APRStarting typically around 18.49%*
Min Loan Amount$1,500 (subject to state minimum size restrictions)
Max. Loan Amount$25,000
Loan TermTypically from 24 to 60 months
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.
*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.

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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Rates last updated November 20th, 2017

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Name Product Product Description Min. Credit Score Max. Loan Amount APR Requirements
Laurel Road Personal Loans
Get a personal loan with no application or origination fees and a rate discount for autopay.
680
$45,000
From 5.5% (fixed)
Must be a US citizen or permanent resident with a valid I-551 card
Even Financial Personal Loans
Get matched to the best loan offer instantly from top online consumer lenders.
580
$100,000
From 4.99% (fixed)
Must have a minimum credit score of 580+. Must be 18+ years old and be an American citizen or permanent resident.
Prosper Personal Loan
Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.
640
$35,000
From 5.99% (fixed)
Must be 18+ years old, an American citizen or US permanent resident and have a 640+ credit score.
SoFi Personal Loan Fixed Rate (with Autopay)
Borrow up to $100,000 with a competitive APR and no fees.
Good to excellent credit
$100,000
From 5.49% (fixed)
You must be a U.S. citizen or permanent resident, and 18 years or older.
LendingPoint Personal Loans
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
600
$25,000
From 15.49% (fixed)
Must have a fair credit score of 600 or better and verifiable income. Must live in a state where LendingPoint services.
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
From 5.99% (fixed)
You must be over 18 years of age, a permanent resident of the US or an American citizen and have a steady source of income.

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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

Eligibility criteria:

  • 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

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.

Yes. There is a financial calculator, money management course and travel tips available for free through OneMain Financial’s website.

You can make as many payments as you like as often as you like, but they are only due monthly.

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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.

    • Staff
      LiezlJune 18, 2017Staff

      Hi Cocoa,

      Thanks for reaching out. Just to confirm, though, you have reached finder.com – 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
      Liezl

  2. Default Gravatar
    StephanieJune 3, 2017

    Are there any loans for immigration purposes?

    • Staff
      HaroldJune 19, 2017Staff

      Hi Stephanie,

      Thank you for your inquiry.

      A guide here might be helpful for you.

      I hope this information has helped.

      Cheers,
      Harold