OneMain Financial Review

Is this the loan company for you?

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  • Good variety of repayment options
  • Can cancel loan after applying


  • Cannot open accounts completely online
  • Interest rates on loans are high

What You Need to Know

There are a variety of ways to repay your OneMain Financial loan. You can make payments through automatic electronic transfers or one-time electronic transfers. You can pay with your debit card, in a branch location, or by mailing in a check. OneMain allows you to pay over the phone or through the app. You can also pay cash on your loan through PayNearMe services. This is a free service at participating locations. Those include CVS, 7-Eleven, Casey's General Store, and Family Dollar.

If you open a loan with OneMain Financial and change your mind, you can cancel your loan. OneMain gives you seven days to change your mind. If you want to cancel the loan, you must decide within those seven days. Then you must return the money and sign a cancelation form.

OneMain Financial loans are not opened entirely online. You start the loan application online. To complete the application, you must visit a branch location. OneMain has locations in 44 states across the U.S. They have over 1,600 branch locations.

The interest rates for OneMain loans are high. Even the lowest interest rate offered is much higher than other loan rates. OneMain personal loans can help you rebuild your credit. This is one of the reasons the interest rates are higher. The interest rate you receive depends on your qualifications.

Qualifications to Apply for OneMain Financial Loans

Useful Information About OneMain Financial Loans

History and Achievements

OneMain started in 1912 in Maryland. In 2011, the name changed to OneMain Financial.

Today OneMain Financial serves customers in 44 states across the U.S., with headquarters in Indiana. They serve 15 million customers in over 1,600 branch locations with more than 10,000 employees. OneMain has over $20 billion in assets.

Frequently Asked Questions

Can I apply for a loan entirely online?

No. You can start the loan application online. To complete the process, you must visit a branch location.

What is the lowest my credit score can be?

The minimum credit score depends on other factors, including income and credit history.

What is the smallest loan amount available?

The minimum loan amount is $1,500 with OneMain Financial.

What is the largest loan amount available?

The maximum loan amount is $20,000, depending on your qualifications.

What are the loan term lengths?

OneMain Financial offers term lengths in 24, 36, 48, or 60-month terms.

Are the interest rates competitive?

The interest rates are higher because they serve those trying to get their credit back in order. The interest rate you receive depends on your qualifications.

Are the interest rates fixed?

Yes. OneMain Financial offers fixed interest rates for their personal loans.

What types of loans are available?

OneMain Financial offers loans for vacations, debt consolidation, and home improvements. You can use the money for weddings, moving expenses, boats, and cars. Their website lists other options for loan uses.

What information do I need to apply for a loan?

OneMain will ask for your personal information. This information includes a valid SSN, driver's license or passport, and proof of income. Other information may be necessary, depending on your qualifications.

How long does approval take?

OneMain will approve your online application. Once you have that approval, you will finish your application in a branch location.

How long will it take the money to enter my account after approval?

Receiving your money through direct deposit can take one business day. You can also pick up the check when you finish opening the loan in a branch location.

If I have been denied a loan before, how long do I have to wait to apply again?

You can reapply on the same day. If you do not qualify for a OneMain Financial loan, you can reapply with a co-applicant.

What are the payment options to repay my loan?

OneMain offers a variety of ways to repay your loan. You can pay by mail, through the app, over the phone, or in a branch location. Make payments through automatic electronic withdrawals, online, or with your debit card. You can pay cash at local retailers through PayNearMe.

Can I pay my loan off early?

Yes. OneMain does not charge a fee for paying your loan off early.

Is my information secure?

OneMain offers security measures that comply with federal laws. Their computers have safeguards. Their buildings and files are secure.

Does this loan company offer a mobile app?

Yes. OneMain offers a mobile app. You can make your loan repayments through the app.

How do I contact customer service?

Contact OneMain Financial through email or over the phone. Their hours are Monday through Friday, 7 a.m. to 7 p.m. CT. You can follow OneMain on Facebook, Instagram, LinkedIn, Twitter, and YouTube.

Bank Contact Information

OneMain Financial