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OneMain Financial: Personal Loan Review

Updated: August 3, 2022

The basics

Estimated APR

18% - 35.99%

Min. Credit Score


Max. DTI Debt to Income Ratio


Origination Fees

1% - 10%

Late Penalties

$5 to $30

Prepayment Fees


Good for: Fast funding

Our verdict

OneMain Financial can be a good option for consumers who might be in a tight spot, whether that be their need for a secured loan or joint application. The lowest APR is in the high-teens, however, you'll have to pay an origination fee.

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Beyond the basics

Fixed rates

Fixed payments

Personalized service

No prepayment penalty

Loan Amounts

$1,500 to $20,000

Loan Terms

24, 36, 48, 60 months

Time to Funding

1 business day

Full review

Lender description OneMain Financial is a lending-exclusive financial company that offers three different loan products: unsecured personal loans, secured personal loans, and auto loans.

Best used for

  • Debt consolidation
  • Home improvement
  • Life events
  • Recreation
  • Auto loans

Pros & cons

  • Possible same-day funding
  • Allows cosigners or co-borrowers
  • Secured loans available
  • High starting APR and APR caps
  • Charges origination fee

Most suitable for

  • Consumers who need a cosigner or co-borrower
  • Consumers seeking secured loans

How to qualify OneMain Financial does not provide specific requirements but considers the following when determining a consumer's eligibility for personal loans: financial history, credit history, income and expenses, loan purpose, whether they have filed for bankruptcy, and state of residence.

How to apply You can check for a pre-qualified offer online. You'll need a copy of a valid, government-issued ID, social security card, proof of residence, and proof of income to finalize the loan.

Footprint OneMain Financial loans are available in every state except Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, and Vermont.

Loan example A $6,000 with a 24.99% APR and 60 month term, your payments would be $176.07 per month.