OneMain Financial Personal Loans

in Personal Loans from OneMain Financial

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OneMain Financial Personal Loans


in Personal Loans from OneMain Financial

SuperMoney Net Recommendation Score -41


This product is mostly not recommended by SuperMoney users with a score of -41, equating to 2.2 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly not recommended

8 users recommend
4 users are unsure
22 users don't recommend
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Community Rating Mostly not recommended
APR  (Fixed APR) 18% - 35.99%
Loan Amount $1,500 - $20,000
Loan Term (Months) 24 - 60 months
Number of Reviews 34

OneMain Financial Personal Loans Review

OneMain Financial Personal Loans is offered by OneMain Financial, a direct lender founded in 1912 and based in Evansville, IN. OneMain Financial Personal Loans is available in 44 states across the USA.

Key Takeaways
  • APRs starting at 18%. Personal loan interest rates typically range between 5% and 36%. The starting rates for OneMain Financial Personal Loans are on the higher end of the spectrum.
  • Fast access to funds. In some cases you can get your money within 1 business day.
  • Prequalified rate. You can check your prequalified rate at OneMain Financial with a soft pull that will not affect your credit score.
  • Origination fees of up to 10%. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
  • Cosigner applications accepted. Applying for OneMain Financial Personal Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
  • Minimum income of $10,000. You will need an annual income of at least $10,000 to apply for OneMain Financial Personal Loans, which is below average for the lenders in our database
One Main Financial Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Cosigners accepted.
  • APRs as high as 35.99%.
  • Charges an origination fee of up to 10% of the loan amount.
  • OneMain Financial Personal Loans does not report to credit bureaus.
  • Charges a late fee of up to $30.
One Main Financial FAQ

What interest rates and personal loan terms does One Main Financial offer?

One Main Financial has higher interest rates than the average for lenders reviewed on SuperMoney.

What interest rates does One Main Financial offer?

One Main Financial offers a fixed APR personal loan product that ranges from 18% APR up to 35.99% APR.

How much can you borrow via One Main Financial?

Loan amounts start at $1,500 and go up to $20,000

What is the maximum personal loan term you can get with One Main Financial?

One Main Financial offers loans with terms ranging from 24 to 60 months.

One Main Financial Interest Rates & Loan Terms
Personal Loan Amount $1500 - $20000
Loan Term 24 - 60 months
APR 18% - 35.99%

What fees does One Main Financial charge?

Does One Main Financial charge an origination fee?

One Main Financial may charge a personal loan origination fee of 1% to 10% of the personal loan amount of $25 to $400 One Main Financial deducts the origination fee directly from your personal loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does One Main Financial charge a late fee?

Yes, One Main Financial may charge borrowers a late payment fee if you miss one of the monthly payments of up to $30.

Does One Main Financial charge prepayment fees?

No, One Main Financial does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

One Main Financial Fees
Origination Fee 1% - 10%
Prepayment Fee? No
Late Payment Fee $5 - $30

What do you need to qualify for OneMain Financial Personal Loans?

Applicants with a credit score of at least 540 and up to 700 may be eligible for OneMain Financial Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for personal loans with OneMain Financial Personal Loans, applicants need a minimum annual income of $10,000 or higher. OneMain Financial Personal Loans only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via OneMain Financial Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by OneMain Financial Personal Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit
One Main Financial Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Cosigners
  • Individual Applications
  • Credit Score 540 - 700

    What is the estimated funding time for a personal loan via One Main Financial?

    One Main Financial will typically approve (or deny) a loan application within 24 hours and fund loans within 7 business days of approval.

    OneMain Financial Personal Loans Disclosure: Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07. Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $300. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600. Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. West Virginia: $14,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
    SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Message From OneMain Financial

    For over 100 years, we’ve been helping hard-working people tackle life’s challenges by providing the help you need when you need it. Our loan experts are from your community, understand your unique situation, and will treat you with honesty, dignity, and respect. Our goal is to deliver the best customer experience and empower you to take control of your finances.

    Message From Our Editor

    What We Love About One Main Financial Personal Loans

    If speed is what consumers need, One Main Financial answers the call. They don’t offer nationwide coverage or the lowest interest rates, and their approval process is quite stringent. Still, however, they’re quick with decisions and processing, and that is a win for the consumers who need it. They do work with those who have less-than-perfect credit, although you’ll pay higher interest rates as a result.

    One other thing we love is that consumers can apply with a cosigner or with collateral to access larger loan amounts, even if they’ve already applied on their own and been approved for a lower amount.

    What Could One Main Financial Do Better?

    As mentioned, One Main Financial doesn’t always have the lowest interest rates or best terms for those who have sub-par credit. This lender is designed specifically to work with people who have good credit and need quick cash. It might serve them well to improve their online processing options, too, as consumers will still need to speak with a loan officer on the phone before being approved.

    One Main Financial Backstory

    One Main Financial started all the way back in 1912, founded by Alexander Duncan as Commercial Credit. This company was a pioneer in the industry at the time, providing working capital to building contractors and manufacturers, opening branches throughout the U.S., and continuing to expand. They were known as the Travelers Group by 1998 when they merged with Citicorp to become part of CitiGroup, which then became CitiFinancial.

    In 2011, the company changed to One Main Financial, and then CitiGroup sold the OMF brand to Springleaf, who merged the company into theirs and kept the One Main Financial brand.

    The Verdict

    One Main Financial is a standard lending solution for people who need standard lending options with fast approval. Even though you have to talk to a loan officer on the phone, most loans are approved and funded quickly.


    • Headquarters
    •   601 NW 2nd Street, Ste 300
      Evansville, IN 47708
    •   Visit Site

    Other Services by OneMain Financial


      Available in 44 states
    • Alaska
    • Arizona
    • California
    • Colorado
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Virginia
    • Washington
    • West Virginia
    • Wisconsin
    • Wyoming

    Feature Breakdown

    No Prepayment Fee
    Late Fee Amount $5 - $30
    Origination Fee ($) $25 - $400
    Origination Fee (%) 1% - 10%
    Checking Account Required
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Self-Employed
    • Retired
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Cosigner
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Minimum Annual Income $10,000
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    Verification Documents Required
    • Recent Pay Stubs
    • Proof of Income
    • Driver License (or other photo ID)
    • Proof of citizenship/residence (Green Card)
    Credit Score Range 540 - 700
    Loan Amount $1,500 - $20,000
    APR (Fixed APR) 18% - 35.99%
    Loan Term 24 - 60 months

    OneMain Financial Personal Loans Community Reviews


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    This product is mostly not recommended by SuperMoney users with a score of -41, equating to 2.2 on a 5 point rating scale.


    Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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