OneMain Financial is an established personal loan lender offering both secured and unsecured loans. Unlike many online-only lenders, OneMain also operates a large network of physical branches, giving borrowers the option to apply online while still having access to in-person support.
OneMain offers personal loans from $1,500 to $30,000 with fixed rates and repayment terms ranging from 24 to 60 months. Borrowers can check for loan offers without affecting their credit score, and approved borrowers may be able to receive their money as soon as one hour after closing.
In this review, we’ll examine how OneMain Financial works, its rates and fees, eligibility requirements, the application process, and the main advantages and drawbacks to consider before applying.
⭐ Our Rating: 4.4/5
Best For: Borrowers who want secured or unsecured personal loan options and value access to in-person support as well as online service.
✔ Quick Highlights
- Loan amounts from $1,500 to $30,000
- Fixed rates from 11.99% to 35.99% APR
- Repayment terms from 24 to 60 months
- Secured and unsecured loan options
- Check for offers with no impact on your credit score
- Funding available as soon as one hour after loan closing in eligible circumstances
👉 Check Your Loan Options with OneMain
🔍 Check Offers Without Affecting Your Credit Score
⚡ Fast Funding Available
💰 Fixed Rates
🏦 Secured & Unsecured Options
👤 Online & In-Person Support
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Quick Verdict
OneMain Financial stands out by offering both secured and unsecured personal loans, along with the option to apply online, by phone or through its network of more than 1,300 branches. Loan amounts range from $1,500 to $30,000, with fixed APRs from 11.99% to 35.99% and repayment terms from 24 to 60 months.
Borrowers can check for loan offers without affecting their credit score, and funding can be fast once a loan is approved and closed. Eligible borrowers using OneMain’s SpeedFunds option may receive money as soon as one hour after signing, while other funding methods can take longer.
The main drawback is cost. OneMain charges origination fees where permitted, which vary by state and can range from $25 to $500 as a flat fee or from 1% to 10% of the loan amount. However, OneMain does not charge a penalty for paying a personal loan off early.
Our Verdict: OneMain Financial may be worth considering for borrowers who value flexible secured or unsecured loan options, fast funding and access to branch support. However, its APRs can be relatively high and origination fees may add to the cost, so it’s important to compare your offer with other lenders before accepting a loan.
| Overall Rating | ⭐⭐⭐⭐☆ (4.4/5) |
|---|---|
| Best For | Borrowers wanting flexible loan options and branch support |
| Loan Amounts | $1,500–$30,000* |
| Funding Speed | As soon as 1 hour after signing (eligible borrowers) |
| Soft Credit Check | ✅ Yes – checking offers doesn’t affect your credit score |
| Prepayment Penalty | ❌ No |
Pros & Cons
Like any lender, OneMain Financial has strengths and weaknesses. Understanding both sides can help you decide whether it’s the right fit for your financial needs.
✅ Pros
✔ Secured and Unsecured Loan Options
OneMain offers both secured and unsecured personal loans, giving borrowers more flexibility depending on their circumstances.
✔ Check Offers Without Affecting Your Credit Score
You can check for OneMain loan offers without affecting your credit score, allowing you to explore potential options before deciding to proceed.
✔ Fast Funding Available
Eligible borrowers using SpeedFunds may receive their money as soon as one hour after loan closing when funds are sent to an eligible bank-issued debit card.
✔ Online and In-Person Support
You can apply online, by phone or through one of OneMain’s more than 1,300 branches, which may appeal to borrowers who prefer face-to-face assistance.
✔ No Prepayment Penalty
OneMain doesn’t charge a prepayment fee, so borrowers can repay their loan early without a penalty.
❌ Cons
✖ Origination Fees Apply
OneMain personal loans include origination fees, increasing the overall cost of borrowing. The amount and fee calculation varies by state.
✖ APRs Can Be High
OneMain’s advertised fixed APR range extends as high as 35.99%, so borrowers receiving offers toward the upper end could face substantial borrowing costs.
✖ Loan Amounts Are Relatively Limited
The general advertised maximum is $30,000, and maximum loan amounts are even lower in certain states. Borrowers needing more may need another lender.
✖ Some Larger Loans Require Collateral
Larger loan amounts may require a first lien on a qualifying motor vehicle, meaning borrowers could have to secure the loan with an eligible vehicle.
✖ Restrictions on Loan Uses
Loan proceeds can’t be used for education, business, gambling, speculative investments or illegal purposes.
What Is OneMain Financial?
OneMain Financial is a consumer lender that primarily serves borrowers who may not always fit the profile targeted by traditional banks and prime online lenders. The company describes itself as a provider of credit to nonprime consumers and has served millions of customers across the United States.
One of the biggest differences between OneMain and many modern personal loan companies is its branch-based approach. Rather than operating exclusively online, OneMain has more than 1,300 physical branches, where customers can speak directly with loan specialists.
Another important distinction is that OneMain offers both unsecured and secured personal loans. With a secured loan, an eligible vehicle can be pledged as collateral, subject to OneMain’s requirements. This can give some borrowers another potential route to borrowing, although putting a vehicle up as collateral introduces an additional risk that doesn’t exist with an unsecured loan.
OneMain Financial personal loans can be used for a variety of purposes, including:
- Debt consolidation
- Medical expenses
- Home improvements
- Auto repairs
- Moving expenses
- Major purchases
- Unexpected emergency expenses
- Vacations and other eligible personal expenses
Loan amounts generally range from $1,500 to $30,000, although state-specific minimums and maximums apply in some locations. Both secured and unsecured loans are available.
The process can begin online, by phone or at a OneMain branch. Checking for offers doesn’t affect your credit score, and approved borrowers using an eligible debit card may receive funds through SpeedFunds as soon as one hour after closing. ACH funding generally takes around one to two business days. OneMain currently operates its lending business across 44 states, with personal loans unavailable in Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont, Washington D.C. and U.S. territories.
Quick Facts About OneMain Financial
| Feature | Details |
|---|---|
| Established | Over 100 years of lending history |
| Service Area | 47 states |
| Loan Amounts | $1,500–$30,000* |
| Loan Type | Secured & Unsecured Personal Loans |
| Soft Credit Check | Yes – when checking offers |
| Application Options | Online, Phone & Branch |
*State-specific minimum and maximum loan amounts may apply.
Key Features
OneMain Financial combines traditional branch-based lending with online loan management. Its main distinguishing features are the choice between secured and unsecured borrowing, fixed repayment schedules and several ways to complete the lending process.
Secured and Unsecured Loans
Depending on your offer, OneMain may provide either an unsecured loan or a secured loan backed by an eligible vehicle. Secured loans introduce the additional risk of using an asset as collateral.
Fixed Rates and Payments
OneMain loans have fixed interest rates, so the interest rate and scheduled payment won’t change during the life of the loan.
Flexible Repayment Terms
Repayment terms generally range from 24 to 60 months, allowing borrowers to balance the size of their monthly payment against the overall cost of borrowing.
Multiple Ways to Apply
Borrowers aren’t restricted to an online-only process. OneMain allows customers to begin the process online, over the phone or through its branch network.
SpeedFunds
OneMain’s SpeedFunds service can send loan proceeds to an eligible bank-issued debit card as soon as one hour after closing, providing a faster alternative to standard bank transfer funding.
Direct Branch Support
With more than 1,300 branches, OneMain offers face-to-face assistance alongside its online and telephone services — something many online personal-loan lenders don’t provide.
Online Account Management
Existing customers can use OneMain’s online account services to make payments, view account information and manage their loan after funding.
Interest Rates, Fees & Repayment Terms
Before taking out a personal loan, it’s important to look beyond the amount you can borrow and consider the total cost. OneMain’s rates and fees vary depending on the borrower, the loan and applicable state rules.
Interest Rates
OneMain offers fixed APRs ranging from 11.99% to 35.99%. The APR you receive depends on factors including your credit history, income, debts, loan amount, term and whether the loan is secured. A fixed rate means the interest rate will not change during the life of the loan.
Loan Terms
Repayment terms range from 24 to 60 months. A longer term can reduce the monthly payment, but generally means paying more interest over the life of the loan, so it’s worth comparing both the monthly payment and total repayment cost.
Origination Fee
OneMain charges an origination fee where permitted by law. Depending on the state, this can be a flat fee of $25 to $500 or a percentage-based fee of 1% to 10% of the loan amount, subject to applicable state limits. The fee is deducted from the loan proceeds.
💡 Good to know: OneMain does not charge a prepayment penalty, so making extra payments or paying off your loan early won’t result in an additional fee.
Late Payments
Late fees may apply if a payment isn’t made on time. Depending on the state, OneMain says these can range from a flat $5 to $30 or 1.5% to 15% of the delinquent payment or unpaid portion, subject to state limits. Where permitted, OneMain may also charge an NSF fee of $10 to $50 for a returned or unsuccessful payment.
How the OneMain Financial Application Process Works
OneMain lets you start the personal loan process online, by phone or at a branch. You can first check for offers without affecting your credit score before deciding whether to continue with a full application.
Step 1: Check for Loan Offers
Provide some basic personal and financial information to see whether OneMain has potential loan offers for you. Checking for offers uses a soft credit inquiry and won’t affect your credit score.
Step 2: Review Your Options
If offers are available, review the proposed loan amount, APR, repayment term and estimated payment. Depending on your circumstances, you may be offered a secured or unsecured loan.
Step 3: Complete Your Application
If you decide to proceed, OneMain may request documents to verify information such as your identity, income and residence. A hard credit inquiry may be performed as part of the full application process.
Step 4: Review and Sign Your Loan
If approved, carefully review the final loan agreement, including the APR, origination fee, monthly payment and repayment term. You’ll need to sign the loan documents before funds can be released.
Step 5: Receive Your Funds
After closing, eligible borrowers using SpeedFunds may receive their money on an eligible bank-issued debit card as soon as one hour. ACH funding generally takes around one to two business days after closing.
At a Glance
✔ Check for Loan Offers
✔ Review Your Options
✔ Complete Your Application
✔ Review & Sign Your Loan
✔ Receive Your Funds
Customer Reviews & Reputation
What Customers Say About OneMain Financial
Customer feedback for OneMain Financial is generally positive overall, particularly around customer service and the application experience. Many borrowers mention helpful staff, clear communication and a relatively straightforward process from application through funding.
OneMain also has a large network of physical branches, so unlike many online-only lenders, some customers value being able to speak directly with a loan specialist during the process.
Experiences do vary, however. Some borrowers report dissatisfaction with the interest rates offered, while others mention issues relating to loan terms, payments or communication. As with any lender, the rate and terms offered will depend on the applicant’s individual financial circumstances.
At the time of checking, OneMain Financial has a 4.6/5 Trustpilot score from more than 80,000 reviews, while its main Better Business Bureau profile shows an A+ BBB rating and an average customer review rating of about 4.3/5. Ratings can change over time.
Common Positive Feedback
- Helpful and friendly customer service
- Straightforward application process
- Fast decisions and funding for some borrowers
- Ability to speak with staff at local branches
- Clear explanations of loan options
Common Complaints
- Interest rates can be relatively high
- Loan offers may differ from initial expectations
- Some borrowers report payment or account-service issues
- Additional documentation may sometimes be required
- Approval and loan terms depend on individual circumstances
Our take: OneMain Financial receives broadly positive customer feedback, particularly for its customer service and accessible application process. Its combination of online applications and physical branches may appeal to borrowers who want more personal support, although prospective borrowers should pay close attention to the APR and overall cost of any loan offered.
Who Should Consider OneMain Financial?
OneMain Financial could be worth considering if you want a personal loan with fixed payments and the option of receiving help from a loan specialist rather than dealing exclusively with an online lender. OneMain offers both secured and unsecured personal loans, with applications available online, by phone or through its network of more than 1,300 branches.
OneMain Financial May Be a Good Choice If:
✔ You want to check for loan offers without affecting your credit score.
✔ You prefer having the option to speak with a loan specialist or visit a physical branch.
✔ You need funds for purposes such as debt consolidation, home improvements, medical expenses or other eligible personal costs.
✔ You want the option of either a secured or unsecured personal loan.
✔ Fast access to funds is important to you — eligible borrowers using SpeedFunds may receive funds as soon as one hour after closing.
💡 Good to Know: OneMain offers loans from $1,500 to $30,000, although limits vary by state and larger loans may require a vehicle as collateral. Always consider the total borrowing cost, not simply whether you qualify for the amount requested.
Who Should Consider Alternatives?
While OneMain Financial offers flexible application options and access to both secured and unsecured loans, it won’t be the best fit for every borrower. Its advertised fixed APRs currently range from 11.99% to 35.99%, so borrowers who qualify for substantially lower rates elsewhere may want to compare alternatives before committing.
You May Want to Consider Other Lenders If:
✔ You have strong credit and may qualify for a significantly lower APR elsewhere.
✔ You need to borrow more than OneMain’s standard $30,000 maximum. State-specific maximums can also be lower.
✔ You don’t want to provide collateral if the loan amount or offer available to you requires a secured loan.
✔ You want a lender offering longer repayment periods than OneMain’s 24–60 month terms.
✔ You’ve compared the total cost of borrowing and another lender offers a better combination of APR, fees and repayment terms.
💡 Good to Know: Checking offers from several lenders can help you compare the actual APR and total repayment cost available to you. OneMain lets you check for offers without affecting your credit score, so you can see what it may offer before deciding.
Final Verdict
OneMain Financial is worth considering for borrowers who value flexibility and personal support. Unlike many online-only lenders, OneMain lets customers apply online, by phone or through its network of more than 1,300 branches, and it offers both secured and unsecured personal loans.
Its loans come with fixed rates and repayment terms of 24 to 60 months. However, advertised APRs currently range from 11.99% to 35.99%, and origination fees apply, so borrowers with strong credit may be able to find a lower-cost option elsewhere.
OneMain is particularly interesting for borrowers who may not fit the profile targeted by lenders concentrating primarily on excellent credit. OneMain says it considers the applicant’s broader financial picture rather than using a single minimum credit score as its qualification standard.
Our Verdict
⭐⭐⭐⭐☆ 4.4/5
Best For:
- Borrowers across a wide range of credit profiles
- Debt consolidation
- Borrowers who value in-person support
- People who want secured or unsecured loan options
- Borrowers who need relatively fast access to funds
- People who prefer fixed rates and fixed monthly payments
Ready to See Your Loan Options?
If you’d like to see what OneMain Financial may offer you, you can check for loan options online without affecting your credit score. OneMain uses a soft credit pull at this stage, and there’s no obligation to accept an offer. If you subsequently proceed with a full application, OneMain performs a hard credit pull, which may affect your credit score.
👉 Check Your Loan Options With OneMain Financial
Disclaimer: Loan offers, APRs, fees and eligibility requirements may change over time and vary by borrower and state. Always review OneMain Financial’s latest terms and your individual loan agreement before accepting a loan.
Frequently Asked Questions
Does checking my loan options with OneMain Financial affect my credit score?
No. OneMain says checking for prequalified offers uses a soft credit pull, which does not affect your credit score. If you decide to proceed with a full application, a hard credit inquiry will be performed and may affect your credit score.
What can I use a OneMain Financial personal loan for?
OneMain personal loans can be used for many personal expenses, including consolidating debt, paying bills, handling emergencies and making purchases. However, OneMain prohibits using loan proceeds for post secondary education expenses, business or commercial purposes, speculative investments, gambling or illegal activities.
How much can I borrow from OneMain Financial?
OneMain generally offers personal loans ranging from $1,500 to $30,000, although minimum and maximum amounts vary in certain states. Larger loans may also require an eligible vehicle to be pledged as collateral.
How quickly can I receive my money?
OneMain says eligible borrowers using its SpeedFunds service with a bank-issued debit card may receive funds as soon as one hour after loan closing. Funding by ACH or check can take approximately one to two business days after closing, subject to bank deposit policies.
Does OneMain Financial charge prepayment penalties?
No. OneMain states that it does not charge prepayment penalties, so borrowers can repay their loan early without a prepayment fee.
What credit score do I need to qualify for OneMain Financial?
OneMain does not state a single minimum credit score required for its personal loans. It says it works with a wide range of credit scores and considers the borrower’s overall financial picture, including factors such as credit history, income, expenses and other eligibility criteria.
Can I check my loan options without accepting an offer?
Yes. Checking for prequalified offers does not commit you to taking a loan. You can review the available options before deciding whether you want to proceed with a full application.
Does OneMain Financial offer secured personal loans?
Yes. OneMain offers both secured and unsecured personal loans. For secured loans, eligible collateral can include vehicles such as cars, trucks and motorcycles, subject to OneMain’s requirements.
Is OneMain Financial a legitimate lender?
Yes. OneMain Financial is an established U.S. lender offering personal loans online, by phone and through a network of more than 1,300 branches. OneMain says customers have relied on the business for more than 100 years.