Last Updated: 04/18/2025
SuperMoney User Recommendation Score -37
Mostly not recommended41 total votes
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Highlights
Community Rating
Mostly not recommended
APR (Fixed APR)
18% - 35.99%(Verified 06/21/2024)
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Amount Range
$1,500 - $20,000
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Loan Term (Months)
24 - 60
Number of Reviews
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. One Main Financial are available in 44 states.
Key Takeaways
- APRs starting at 18%. Personal loan interest rates typically range between 9% and 36%. The starting rates for OneMain Financial Personal Loans are on the higher end of the spectrum.
- Fast access to funds. If approved, OneMain Financial will send the money in as little as 24 hours.
- Prequalified rate. You can check your prequalified rate at OneMain Financial with a soft pull that will not affect your FICO or VantageScore.
- Origination fees of 1% to 10%. This is on the high end for lenders on SuperMoney's database. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money to borrow.
- Cosigner required. Applicants must have a cosigner to complete an application.
One Main Financial Pros & Cons
| Pros | Cons |
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One Main Financial FAQ
What interest rates and personal loan terms does One Main Financial offer?
One Main Financial has higher than average interest rates 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?
Personal loan amounts start at $1,500 and go up to $20,000
What is the maximum loan term you can get with One Main Financial?
One Main Financial offers loans with terms of up to 60 months.
| 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 $500 One Main Financial deducts the origination fee directly from your personal loan amount, 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 a late payment fee if you miss one of the regularly scheduled 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.
| Origination Fee | 1% - 10% |
| Prepayment Fee | No |
| Late Payment Fee | $5 - $30 |
What do you need to qualify for OneMain Financial Personal Loans?
OneMain Financial Personal Loans does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher. OneMain Financial Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by OneMain Financial Personal Loans.
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 or other government photo ID
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
|
| Credit Score | N/A |
What is the estimated funding time for a personal loan via One Main Financial?
One Main Financial will typically fund loans within 1 to 7 business days of approval and clearing necessary verifications.
Does OneMain Financial Personal Loans report your account activity to credit bureaus?
Yes, OneMain Financial Personal Loans reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does OneMain Financial perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. One Main Financial allows you to check your rates with a soft credit pull.
Are OneMain Financial Personal Loans legit?
OneMain Financial was founded in 1912, it is a well-established company that has been in business for 114 years. OneMain Financial Personal Loans is mostly not recommended by SuperMoney community users.
OneMain Financial Personal Loans Disclosure: Not all applicants will be approved. 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). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. 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. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. 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 $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; 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. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600.
Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
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.
SuperMoney Disclosure: SuperMoney.com 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 One Main Financial
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.
Hours of Operation
Sunday
Closed
Monday
5:00AM - 5:00PM
Tuesday
5:00AM - 5:00PM
Wednesday
5:00AM - 5:00PM
Thursday
5:00AM - 5:00PM
Friday
5:00AM - 5:00PM
Saturday
Closed
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly don't recommend this product, giving it a user recommendation score of -37, or 2.3 on a 5-point rating scale.
-37
-1000+100
No one recommends
Everyone recommends
OneMain Financial Personal Loans Community Reviews
Would you recommend OneMain Financial Personal Loans to your friends?
PH
Patrick H.
Apr 24, 2022
May or may not recommend
I have nothing but great experiences speaking too and working with the customer service representatives at my local branch. They are super polite and nice, they took the time to explain everything I needed to know about the loan and my financial needs. The downside of course happens to be the high interest rates and amount of time it takes to pay down the loan. However just like any other ...Show More
Katrina O.
Mar 8, 2022
May or may not recommend
Every time me or my husband has applied there's either something that makes them say no OR they want a serious collateral (car deed, house deed, etc.) even for $1000 despite constant pre-approval offers and having it plastered all over that almost everyone is approved.
Amy H.
Feb 23, 2022
May or may not recommend
I loved my experience with OneMain. I was able to get a rate, both in monthly payment and interest, that allowed me to afford to make some improvements on my home.
JL
Jamie L.
Feb 22, 2022
May or may not recommend
OneMain was able to get me the personal loan I needed at a rate I could manage. Their interest is a little high, but compared to their competitors they were still the most affordable.
JB
Jennifer B.
Feb 13, 2022
May or may not recommend
I am on my second loan with OneMain Financial and it will be the last. While the application process is very easy (approved with minimal number of documents), the interest rate is outrageous. You do not get any break with this company, even for being a repeat customer and making payments in a timely manner. The customer service experience is not standardized between branches of this company ...Show More
Sophia D.
Jan 20, 2022
May or may not recommend
Terrible company! They always send offers in the mail, and when I called to ask about it, the customer service agent was rude and unprofessional. I didn't sign up for the loan, and they haven't sent any offers since.
JH
Jade H.
Jan 3, 2022
May or may not recommend
I took a loan out with OneMain Financial years ago and two years later I ended up working for a local office as a temp. It is easy to get a loan here. It isn't easy for most to pay it back. They are good at finding you and ensuring that you pay them back. It can honestly get a little annoying, but if you pay them ...Show More
Sarah D.
Aug 20, 2021
May or may not recommend
I tried to get a loan with OneMain a few times and was denied each time....seems you have to have 10000% perfect credit, which many folks don't anymore.
Boris N.
Jun 3, 2021
May or may not recommend
I have used this company before and they are quite greedy. Their APR is high and they work with a bunch of third parties that keep calling you even when you decline to take a loan from them.
Youram J.
May 6, 2021
May or may not recommend
Yes, I would recommend OneMain, when visited the bank, the staff was very friendly, active and helpful. They guided terms and conditions while applying for loan.
You can get the money within two or three days. They have unique categories to protect your loan like if you are sick they will cover my loan. I'm glad that I got this opportunity.
WS
Warda S.
Feb 24, 2021
May or may not recommend
I would never recommend OneMain loans. They have crazy interest rates and I’m seriously tired of their mails for pre approved loan offers. They can give you loan even if your credit score is not good and you have no other option. In other words they trapped you. So I recommend you to not accepting their any offer for your critical time. They are using you for their benifits instead ...Show More
Justina G.
Feb 24, 2021
May or may not recommend
It was a long process with a few bumps in the road. The hardest part was getting the information to them for my loan. It took a few times for them to receive my information to process my loan and several phone calls before and after my loan was approved with some long hold times and finally got the money in my account after I gave checking account information to ...Show More
SG
Sue G.
Jan 6, 2021
May or may not recommend
You need to understand what you are signing up for with OneMain. Personal loans here are a means to an end with high-interest rates attached. The process is quite simple, and approval is quick and rather easy, even for less than stellar credit customers. Be prepared if you must make a late payment. Even if you make arrangements ahead of your late payment, they will call you repeatedly until your ...Show More
SL
Sean L.
Dec 23, 2020
May or may not recommend
OneMain sends out plenty of pre-approved letters to get you to apply for the loan but cause many complications in the final stages. The main concern is that the amount you are pre-approved for ends up being much less than advertised and the interest rate are ridiculous. The loan will help those who may have bad credit and do not have any other choice but it is not worth the ...Show More
ST
Shanekia T.
Nov 9, 2020
May or may not recommend
My husband and I used One Main last year for a personal loan. The process was easy. Although we did have to visit a branch to finalize the loan, it took no more than 30 minutes. They have a pretty decent online interface, where you are able to setup automatic payments, cancel upcoming payments if needed, and apply for additional money.
Their customer service has been excellent ...Show More
AC
Ashley C.
Nov 4, 2020
May or may not recommend
I would not recommend OneMain Financial to anyone. I was in a tight spot and applied for a personal loan of $1,000. OneMain Financial took me through the whole process like they were going to approve me, then at the last minute they tell me they couldn’t approve me because of my income wasn’t high enough, which is ridiculous because I had already applied for a loan through them a ...Show More
HS
Holly S.
Nov 4, 2020
May or may not recommend
Prior to this loan I had a payday loan, which was inconvenient for me. I was paying too much money every other week, so when I received a loan offer in the mail, I decided to check out their office that was ten minutes from my place. The staff was very friendly and helpful, and I received a higher credit line than expected. I paid off my payday loan and ...Show More
SM
Shea M.
Apr 11, 2020
May or may not recommend
I opened a personal loan with One Main Financial for the amount of $6522.67 in August of 2019 to cover medical expenses. My balance currently sits at $5810.75
Paid my March payment 17 days early ( I always pay early.) 99.98% of my payment went to interest. Paid April's payment 19 days early and 99.97% of my payment went to interest. I always just make payments early without even checking. I ...Show More
Ericka T.
Sep 2, 2019
May or may not recommend
You are only suppose to get this loan if you have less than perfect credit so I dont know why people are complaining.. I need some quick cash for emergency and everybody has turn me down except for one main financial..They interest rate is 35% which is not bad if you have bad credit. Listen I done had title loans and the interest rate be 300% interest you want to ...Show More
DW
Daniel W.
May 31, 2019
May or may not recommend
Racist ( TERRIBLE INSTITUTION ) DO NOT DO ANY BUSINESS W/ THESE PEOPLE
Showing 20 of 41 reviews
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