OneMain Financial Review

BySarah PritzkerDec. 31, 2020
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In a Nutshell

OneMain Financial is a leading service provider in the personal loans industry. It offers a range of personal financial loans and is known for providing loans to non-prime customers. The company prides itself on its simple application process and quick provision of service. OneMain Financial ensures customers have easy access to a customer service representative to make informed and financially secure decisions.


  • Offers fixed rates and fixed payments
  • Over 1500 locations in 44 states
  • Long-term loans available


  • An origination fee may be charged
  • High APR compared to companies offering similar service
  • Additional fees, such as late payment, may be charged

OneMain Financial at a Glance

Direct lender or marketplace? Direct lender 
Loan types Debt consolidation, life events, recreation, home projects, and auto loans
Loan amount $1,500-$20,000
Repayment terms 24, 36, 48, or 60 months
APR 18.00%-35.99%*
Minimum credit score n/a (OneMain Financial uses their own internal scoring system)
Suitable for Non-prime borrowers

OneMain Financial OneMain Financial View Rates

Suitable For?

OneMain Financial is a direct lender with over 1,500 locations nationwide to serve its customers. Covering a wide variety of personal loan specialties, OneMain Financial also offers auto loans, auto refinancing loans and auto repair loans. Taking into account the interest rates offered (18.00%-35.99%) and the variable repayment terms, ranging from 24-60 months, customers can customize their loan to fit their needs. That being said, OneMain Financial is recommended for borrowers that need non-prime credit products. 


OneMain Financial aims to assist its customers with securing financial stability and does away with the need to rely on car-dealership loans. As well as offering quick and simple loans, the company makes resources such as financially informative articles available. It also offers a free application to check if the customer prequalifies. Included in the company's perks and benefits are highlights such as:

  • A network of branches throughout the US
  • Quick turnaround on loan application
  • Fixed payments and fixed interest rates
  • Allows joint applicants

Application Process

OneMain Financial's application process is simple and easy. Prospective borrowers fill out an online application form, or the application can be handled via phone or by visiting a branch office. The form involves providing basic personal, employment, and financial information. In order to complete the initial application, the customer needs to provide a copy of a government-issued ID, their proof of income, and proof of residence. Additional items may be requested, depending on the individual circumstances of the customer. The application is then processed.

If the initial application is approved, the borrower will be contacted by a local specialist to schedule an in-person appointment at a local branch. The borrower is generally required to come to the branch in order to verify the information provided and finalize the process. Where no local branch is accessible, the company is willing to accommodate the customer.

Loan Types and Terms

OneMain Financial offers personal loans for debt consolidation, life events, recreation, home projects, and auto loans. The auto loans provided include auto refinance, auto repair, car purchase, and cash-out refinance loans. The company uses the vehicle in purchase loans as collateral.

  • The range of loan amounts is $1,500-$20,000
  • APRs from 18.00%-35.99%
  • Loan terms ranging between 24-60 months 
  • Origination fee may be charged 
  • The company may charge additional late or governmental fees

Repayment Options

The loan term options can vary, with a difference of 12 months between each option. The minimum term offered is 24 months, and the maximum is 60 months. Late fees will be charged for late payments, which can range from a flat amount to a percentage of the customer's monthly payment.

How Safe Is It? 

With your personal information, safety is always a priority. OneMain Financial utilizes several security measures when handling your personal information including third party verification software and secure safeguards to protect your interests. More on OneMain Financial’s privacy policies can be found here

Help & Support 

Customer support can be reached via the company’s website or via telephone at (800) 742-5465 for general account support. This line is available from Monday through Friday between 7:00 AM and 7:00 PM CST.


OneMain Financial is a veteran of the industry, with over 100 years of experience providing loans to customers. Its exemplary customer service ensures a quick turnaround, and the application process is easy and manageable.

OneMain Financial OneMain Financial View Rates

Physical Address

OneMain Holdings, Inc.

601 NW. Second Street

Evansville, IN 47708-1013


*Example Loan: If you borrowed $6,000 with a 24.99% APR and 60 month term, your payments would be $176.07 per month. This example is based on an average customer with good credit.

Terms & Conditions: 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 $400. 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.

OneMain Financial customer testimonials

ExcellentReviews 27,258
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  • author
    Elsie Browne
    17 hours ago
    I was thoroughly pleased with the whole process…

    I was thoroughly pleased with the whole process . The loan officer Idealt with was very know;edge, as well as very politewith me and was very professional If and when I ever nee d more money I would use this company again. My only complaint would be the loan rate.


  • author
    David S
    18 hours ago
    Always awesome service.

    Always awesome service.


  • author
    Yvonne S
    21 hours ago
    Very good service and very prompt

    Representative at Valparaiso, In. office was excellent.


  • author
    Anthony C
    2 days ago
    Overall experience was great but...

    Overall experience was great. This is not the first time I had trouble with my bank account. Fidelity is my bank. I have a checking account number that is 17-digits. Most systems accept 17-digit account numbers but OneMain does not. Therefore, not only could I not receive funds via ACH, I also cannot setup automatic payments. This is a bothersome issue. Please update your systems to the 21st century!


  • author
    2 days ago
    I appreciate the customer service…

    I appreciate the customer service deliver by Mike, he is very understandable and courteous.


OneMain Financial