OneMain Financial
check_circle VerifiedFormerly known as CitiFinancial, OneMain Financial has been offering financial solutions since 1912 and has nearly 1,600 local branches in 44 states. Springleaf Financial acquired OneMain Financial in 2015 and the combined companies are now known as OneMain.
OneMain Financial offers personal loans from $1,500 - $20,000, with term lengths of 24, 36, 48, or 60 months available. Funds are available as early as the same day, if you apply by noon.
- Loan use — Auto loan or personal loan
- Loan amounts — $1,500–$20,000
- Term lengths — 24–60 months
- Annual Rate — 18.00%–35.99% (As of June 2020)
- Minimum credit score — Not provided
- Origination fee — $25 to $300, or 1% to 10%, depending on your state
Potential borrowers can check to see if they are pre-qualified by filling out a quick form online. The form requires the basic information to do a soft credit check, including your name, monthly income, and the last four digits of your social security number. Checking for loan offers will not affect your credit score.
The lender's customer base is extremely satisfied with OneMain Financial's services and highlight quality customer service, attentive staff, and a simple loan application process.
Want to read more OneMain Financial reviews like the one below? Click here to see what else consumers are saying about the loan provider.
Customer Review: Eddie from Utah
"My experience with OneMain Financial was an extremely positive one. It helped clear up some financial messes, with a structured repayment plan. They were flexible and while they had rules to follow, they still treated you like a human being. They helped the one time and it made all the difference."
The Good
- Availability
- Same-Day Funds
- Fixed Rates and Fixed Payments
- No Prepayment Penalties
- Industry Pioneer
- Minimum Loan Amount
- Secured Loan Available
- Loan Payment Options
- OneMain Financial Reviews
Availability
OneMain Financial has nearly 1,700 branches in 44 states, providing a large portion of the country with the opportunity to take advantage of its services.
Additionally, OneMain Financial offers three ways to apply for personal installment loans or auto loans: online, over the phone, or in person. It is one of only a few loan companies to offer three application options, as many newer providers only offer an online option. For those customers who like a personal touch, OneMain can provide it.
Same-Day Funds
After discussing your particular case with a professional, qualified loan processor, you can receive your loan offer and money as soon as the same day — if you are approved by noon.
OneMain loan proceeds may be disbursed by check, Automated Clearing House (ACH) deposit, or a prepaid card. Receipt and availability of loan proceeds vary based on the funding option selected. Potential borrowers may contact a OneMain loan specialist for additional information about funding options and funds availability.
Fixed Rates and Fixed Payments
OneMain Financial loans have fixed rates and fixed payments, so you never have to worry about being bombarded with higher interest rates or increased monthly payments.
When you receive your official loan offer, it will stay the same for the length of the repayment term. This allows borrowers to plan ahead and be fully prepared for their personal loan payments. Please remember that if you don't make your monthly payment on-time or within your applicable grace period, late fees and NSF fees from your financial institution will still apply.
No Prepayment Penalties
Unlike many other personal loan lenders, OneMain Financial does not charge a prepayment fee if you choose to repay the loan earlier than the due date requires. This allows borrowers to save a great deal of money in interest charges if they decide to do so.
Industry Pioneer
Originally established in 1912 under the name Commercial Credit, OneMain Financial touts itself as a pioneer in the finance industry. Just four years after its founding, the company began offering installment loans for automobiles, which was an exciting new phenomenon at the time. Since 1944, the company has been operating a credit insurance unit known as OneMain Solutions. As such, the company is an experienced player in the financial services industry.
Minimum Loan Amount
OneMain Financial allows you to borrow as little as $1,500, which is relatively low for a personal loan lender. Many financial institutions require minimum loan amounts closer to $5,000 or more. This is useful for borrowers who are looking to take out smaller personal loans.
Secured Loan Available
Many personal loan lenders only offer unsecured loans. OneMain Financial, however, offers secured and unsecured loans. This means you have the option to offer up collateral to help qualify for a loan or simply to receive a lower annual percentage rate (APR).
Offering secured and unsecured personal loans helps this lender cater to a larger number of borrowers and gives them more loan options to work with. This is also useful for borrowers who have a less-than-excellent credit score, don't have enough credit history on their credit report, or have a higher debt-to-income ratio. A secured loan gives lenders the guarantee they need to ensure the borrower is a reliable customer.
Loan Payment Options
Many personal loan companies have set monthly payment options. With a OneMain loan, you can make loan payments by automatic checking account withdrawal, debit card, check, money order, and more. Options vary, depending on whether you make a payment online, over the phone, in the mail, on the OneMain mobile app. Customers can also make a one-time payment with the PayNearMe service at Family Dollar, CVS, 7-Eleven, and Casey's General Store locations.
OneMain Financial Reviews
With hundreds of reviews, OneMain Financial has a high star-rating from consumers, demonstrating a satisfied customer base. Positive reviews note excellent customer service, a simple loan application process, and quick payment. If you want to learn more about the customer experience with this lender, browse OneMain Financial reviews below.
The Bad
- Limited Max Loan Amount
- State Borrowing Limitations
- Not for Excellent Credit
- Not Best for Debt Consolidation Loans
Limited Max Loan Amount
OneMain Financial personal loan options max out at $20,000 for personal loans, which is relatively low compared to maximum loan amounts offered by other online lenders in the industry. (However, borrowers do have the option to take out $30,000 with OneMain if the loan is for a car.)
On the other hand, OneMain Financial also has a lower minimum loan amount than most lenders, which creates more opportunity for borrowers who are looking for smaller personal loans.
State Borrowing Limitations
OneMain Financial is not available in every state. Unfortunately, if you are outside of the company's service area, you will be unable to use OneMain Financial as your lender.
Not for Excellent Credit
What's your credit score?
This consumer loan company is more geared towards borrowers with poor credit than excellent. This is clear by the fact that a minimum credit requirement is not provided, its personal loan APRs are more similar to credit cards than personal loans that only want good credit borrowers.
While borrowers with excellent credit will likely be better suited towards a loan elsewhere, borrowers with less-than-perfect credit, and possibly even bad credit, may be accepted for a loan with OneMain, if they are able to meet lending requirements and use a vehicle as collateral. Acceptance is not guaranteed for everyone. Larger loan amounts require a lean on a vehicle ten years old or less, that meats value requirements. APRs are higher on unsecured personal loans.
Not Best for Debt Consolidation Loans
OneMain's loan service isn't for everybody. One example of this is people looking to manage credit card debt with a personal consolidation loan.
When people consolidate debt, it is usually for credit cards with high interest rates. To save money, you need to have a debt consolidation loan with a lower annual percentage than you have on your credit cards. Otherwise, there is no point. The personal loan rate at OneMain starts in the teens and goes up to 35.99%. This APR includes origination.
This means that OneMain Financial interest rates are more similar to credit card rates than what many people think of as personal loan rates.
In the United States, loans over 35.99% cannot be advertised as personal loans. So, unless you are looking to consolidate a payday loan or similar debt, OneMain may not be the best option.
The Bottom Line
OneMain Financial allows consumers to apply for a personal loan online, over the phone, or in person, making the process simple and convenient for many individuals. The company, which is a pioneer in the financial industry, can provide borrowers with funds as early as the same day. The lender does not charge prepayment fees, so borrowers can pay off their OneMain Financial loan anytime they'd like, even if it's well before the due date. This allows borrowers to save money in interest charges and gives them more versatility in their loan options.
With a high star rating from consumers, this lender is known for its excellent customer service, simple application process, and quick funds availability.
Read OneMain Financial reviews below to learn more about the personal loan provider and its customer satisfaction.
*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: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. 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.
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User Reviews
Star Rating
245 Reviews
Review Breakdown
Sentiment Criteria
Jim
My loan was a success, Precious was great to work with and made it as smooth as possible. I would recommend Precious and OneMain to anyone needing a loan of any kind. Thanks again, Jim
Sherri Bernal
I never would have imagined how easy, fast and friendly the staff were in getting us the funds we needed, we were in need of a debt consolidation loan, as our credit card usage was quite high due to my spouse having to make several trips from 4 hrs to get back surgeon for several procedures done before finally having to have back surgery. With gas, motel, food, etc it got very expensive. But, within an hour or so of getting the necessary paper work faxed to One Main Financial, we were approved. We called to set up the appt to sign the paperwork and receive our money was beyond expectation. I will definitely refer friends and family to One Main Financial, when they are in need of a loan. Great customer service.
David
Onemain is a great place to help with loans to get what you need and in a timely manner, I've had two loans with onemain and both experiences went well and I received the loan before I left the office.
Chandra Nicole (MyChandraNicole)
(Wayne, Michigan) Listen...if you have ANY other options, ANY, DO NOT do this to yourself. I took this secured "auto refinance" loan to pay off the remaining balance at the end of a loan through Toyota Financial for a car I purchased new. I had this balance because of extensions due to Family Leave, etc, so rather than worry about Toyota coming for the car, I refinanced what I owed and paid Toyota off (i.e. $3500). Everything was smooth sailing, the interest rate was high, but I bit the bullet with the intention of paying extra and paying OneMain off early. I had the loan less than a year, when about a month ago I had an accident and the car, was deemed a total loss by my insurance company. This being my first accident, and following my insurance company's instructions, went to get a copy of the Title to mail to my Insurance company. At Secretary of State ( SOS), I was informed that One Main had put all kinds of roadblock to prevent me from getting a copy of the title. When I called One Main to inform them of the intent of the Insurance Company to pay off the balance...their whole attitude changed. The Manager was speaking to me like I was trying to do something shady and illegal AND I definitely told him about himself...then he tried to clean up his words saying they have never had to speak with a customer about an insurance payoff, blah, blah, blah.... And how they give a promise to release a lien once payment is made... Mind you, I'm just trying to follow the guidance of my insurance company. Fast forward to today, September 9, 2016...One Main is paid off, they sent the release to my insurance company instead of to me. My adjuster sent me a copy of the release so that I could take to SOS. I get to SOS , to get a copy of the title, with the release statement in hand and One Main has yet stipulated that the Title could only be mailed. Don't do it! If you have any other options... Toyota didn't even put all these stipulations on the title and I financed my car brand new! Don't do it.
Tim Harper
One Main really came through saved me financially. Thank you One Main!!!
Andres fernandez
Emergency loans same day. Friendly service.
Toby Turman
Fast decisions, fast closing and funding with no pressure.
Claudia Marshall
when i thought i was down and out, they came shining through. excellent service and made me feel like i mattered.
Miguel
Great service they were there when I needed them
Don Nash
Their top notch and very knowledgeable and experienced
Greg
Excellent customer service, very helpful.
Terra McLaughlin
One Main Financial was helpful to me at a time when I needed extra cash to pay off some bills. The loan gave me assurance that I could get ahead. The staff was courteous, professional and I would highly recommend them to family and friends.
Christina
I have been a one main customer for over a year now and each time I have visited the office the staff at the cape may court house office have been extremely fiendly very kind to my niece and were just an overal great people who work there
Tita N.
Very helpful team. Great and positive experience every single time I went. I love it!
Geraldkowalk
I was always kind courteous and helpful. Explained everything in detail. A me sure that I got the most out of the money that I was receiving.
Rebecca L
Customer Service is great. Ease of process is great
Linda Adkkins
OneMain Financial was excellent in the process of my loan! It was fast with no waiting. The staff were very courteous and helpful!
M.L. Howard
My experience was excellent and the Republican was very knowledgeable, polite and most helpful to inform me what information I needed to assist me in my loan application process.
Lorraine Ingram
OneMain Financial went above and beyond my expectations! I even qualified for a loan amount exceeding what I had originally requested. I recommend them for your loan needs. They were very information and helpful throughout my process.
Debby Willis
OneMain Financial is a fantastic place to get a loan. Not only did I get a loan but it was for more than I was asking for. I will now use OneMain as my financial loan company from now on. I was able to pay off several of my bills and now my credit is improving. It is a great place to go for a loan.
Anthony
We had a great experience with the entire staff. We were treated well. Everything was explained to us including optional policies; death, disability, etc.
Angela Suthard
I had a very satisfying and professional time in getting my load approved everything was explained very well and was very satisfied.
Keith Broga
The people at one main financial was great to deal with and the process was quick and easy.
George Lutz
I found OneMain Financial to be very professional, and will recommend it to anyone with complete confidence that they will be satisfied. Sincerely, George Lutz
Scott
great friendly people who were willing to help with all my needs.
Alisha
I use One Main in Athens. Alabama. They have helped me with two loans. I have found them very good to work with. I build a privacy fence and now I have a loan for help with a budgeting issue. I called and Linda listened to my needs and helped me find a solution to help me and budget friendly. I love the online bill pay and to look at my account. The flexibility and ability to borrow money on my own after a divorce has been made easier with One Main. Gives me a great opportunity for my credit strength and borrowing money without a cosigner. The only negative, the interest rate is a little higher .
Rod M.
I found them online by searching to help improve my credit score, after being turned down from various places. One Main took a chance and I am grateful. Was not hard to get I would recommend them to anyone that wants to help improve their score too. Thank you Tammy in the Huntington WV office you are GREAT!
Marian
Just an overall great compnany. Patient with customers and explained all the information.
Andrea B.
This company has been very helpful in a time of need. They provided me with solid financial solution with the benefits of bettering my credit and monitoring of my credit score on a monthly basis included in the service. They are very friendly and professional and i recommend this company to anyone that may need a loan.
Linda Joyce Harris
FANTASTIC SERVICE!!! It was fast and the loan officer was friendly and help me to get the loan I needed to remodel my new home.
Kim Coats
This is a great company.. they gave me a chance to rebuild my credit when no else would.. I love the people in the office in Greenville Mississippi.. just a great overall experience Kim Coats
Tiffany shields
My father passed away on July 19. We went to the funeral home the 20th. The director was super sweet. He recommended David from the Kendeville Branch. We got the loan that day and everything was fine. We had reassurance that my dad was going to be laid to rest. The funeral happened on the 25th of happened. Today is the 4th of August the loan company then sent my dad a paper saying he was eligible for 7400 dollar loan signed by the same Davide that closed my moms loan the 20th. This was 15 days after the loan was closed. I called and tried to get in touch with David. The secretary said he was on vacation. Then she went to talk about it was their solitation dept. that sent it to us. This is rude and inconsiderate. I will be making a complain to the BBB because he wasnt in the loan companys system. He never had a loan through them. The loan did not have his name on it at all. They did not disclose that they will be buying your familys information from a third party to solisitate to them to try to get their business. She apologized and said she would put in a request for them to stop sending him loan paper work. Then she proceeded to tell me that it takes usually up to 3 months for them to fix it so he will stop recieving these. My mother was hurt that she had to take out a loan to begin with and then they couldn't mention that they would be getting your familys personal information and soliciting to them for 3 months after a request is asked for them to stop. How long would it be if a request wasnt made is a question that is also running through my head.
Kevin Chambers
Everyone was vary helpful They made it easy to get my loan
Charles Lewis
one man has the best people they are courteous they care they are willing to go out of their way to help and once I pay off my loan I will even go back and borrow again
Jacqueline Brice
It's always a pleasure working with Nate. He's eager to provide the best solution to the situation with no surprises. I look forward to working with him and the One MainFinancial team in the future!
roy silva
excellent people to deal with.
Suzie
I found OneMain Financial to be a very easy, proficient process. The availability to fill the application out on line allows for flexibility needed. Within less than one hour after filling out the application, I was instructed to contact OneMain via phone as the customer representative had a few more questions to ask me and completed my application process. Then within an hour I was contacted and informed my loan was approved and to come into the office to fill out the paperwork. I went in after work and filled out the paperwork and left with my loan check.
FELIPE GARCIA
HELLO ! My name is Felipe , Please excuse my writing. Never wrote a review before. Well to start with I would like tooTHANK those who helped me aquire the loan. The folks at ONEMAIN , were very PLEASANT, KNOWLEDGEABLE AN made me feel WELCOMED. They took the time to answer my questionsand explained everything , where , I was able to understand clearly. I WOULD RECOMMEND ONEMAIN TOO ANYONE. AGAIN , THANK YOU VERY MUCH.
Delia Lechtenberg
We have used one main several times and always treated well. They are very fair and non judgmental.
Margarita Ortiz
Exceptional customer service. They explained everything to me and answered my questions about rebuilding my credit. They also said if I had any questions or concerns to come back in and they would help me. non stressful and put my needs first!
Regina
I got my money the day that I went in to the store to apply. Everything was fast and easy, and my payments are reasonable. I love that I can pay off early with no disadvantages!
RC
Everyone was professional and friendly, making it more comfortable to review my debt and come to a debt consolidation plan.
D Britt
The staff was very helpful and worked to get me the loan that suited my needs.
DEE CLAWSON
The professionals at One Main Finance were very helpful, friendly and understanding in applying for my loan. You can't go wrong with One Main.
Kathy Wojtanik
I was greeted and the person told me there name, and how can we help you today? They never made me feel bad about having to borrow for so many bills.. they tried different ways to help get the loan. When I got it they explained everything , the interest charge, the due date, the life ins, etc
DAVID BACON
One main has been very accommodating, by finding the loan options that suit my personal needs and explaining the details to me.
Michael T Kacer
When I Needed a loan they were there and talked with me about my needs and told me how they could best help me and they were really wonderful to work with ... they made it fast and easy there close to where I live and always available when I have needed help too. I would tell anyone that needs help to go to ONE MAIN First and talk with them .....
robert poirier
great people to work with
Wanda
They were all great and helpful
Tabitha or Keith Murphy
Very Helpful and very professional