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BFN suggests and reviews loans to get the best percentage rate, OneMain Financial is one of the lenders that will provide personalized rates to pre-qualify you. Pre-qualifying won’t affect your credit score.

Pros & Cons


  • You can choose your payment date.
  • Secured and joint loans are available
  • You can fund a loan in one business day or less
  • Direct payment to creditors for debt consolidation loans


Full Review | OneMain Financial

OneMain’s loan is more expensive than other online loans. However, they offer some consumer-friendly features, making them an attractive option for those borrowers who might not be able to get a loan elsewhere.

OneMain is the best option for borrowers who are:

  • Fair or poor credit (689 FICO score or lower).
  • You can add collateral to your application or a co-borrower, which could help reduce the rate.
  • You need the money fast.

OneMain is the only one that stands out

OneMain allows borrowers to use OneMain to add a co-applicant or vehicle to a loan application. Both options can increase borrowers’ chances of getting approved and getting a lower rate than they would if they applied independently. A secured loan will require that the motor vehicle be appraised and insured.

You can choose and change your payment dates: Borrowers have the option to pick their payment date at the time they sign a loan agreement. This is provided it’s within 45 calendar days of when they accepted the offer. They can also change the payment date once more times during the loan terms.

The lender offers fast funding: One of the few lenders can approve a loan application within 24 hours. The time it takes for a loan to be funded can vary between lenders. Onemain Financial offers student loans.

Branch access: OneMain has branches in all 44 states that offer personal loans. Although a borrower may apply for a loan online, meeting with a loan officer at a OneMain branch is possible.

Seven-day cancellation policy: Borrowers have seven days to cancel their loan and change their minds without making payments. Many lenders do not offer this feature.

OneMain is not enough

OneMain does not offer an autopay discount. This discount can be up to 0.5 percent and encourages borrowers who use autopay to make timely payments.

Origination fee: OneMain loans include origination fees. This is not uncommon for online lenders. The origination fee in some states is a flat fee between $25 and 0. In other states, it is 1% to 10% of the loan amount. These flat fee amounts are often higher than other origination fees.

OneMain may offer credit insurance. This insurance can be used with either secured or unsecured loans. This insurance increases the loan costs. It may not be required if the borrower already has life insurance. Before purchasing credit insurance, it is worth learning about the pros & cons.

How to get a OneMain loan

OneMain Financial personal loans do not disclose all of its requirements but state that it focuses on applicants’ ability to meet their monthly financial obligations, including rent or mortgage payments, while still affording the loan. You can obtain an unsecured loan depending on your credit history and credit standards. Loan amount 1,500 to 20,000.

The lender does not have a minimum credit score requirement because it does not rely on credit scores to determine whether someone is eligible. It uses its underwriting system for applicants’ credit information and alternate data.

According to a spokesperson, three of the most important aspects of a Onemain Financial personal loan application are credit stability, repayment ability, and collateral. They will receive a rating they deserve.

OneMain won’t approve applicants without a credit bureau file. It also says that it is difficult for borrowers not to get approved if they have very poor credit histories.

Here are the OneMain personal loans average borrower and loan amounts:

  • net income: $45,000.
  • loan amount: $10,000
  • loan term: 5 Years
  • APR: 25%

Example: A $10,000 three-year loan would result in a $399 monthly payment. The APR is 25.3%. The total interest paid by the borrower on this loan would be $4,364.

How to obtain a OneMain loan

BFN Pre-Qualification

BFN suggests comparing loans to get the best rate. OneMain is one of the lenders that will provide personalized rates to pre-qualify you. Credit cards. Pre-qualifying won’t affect your credit score. Obtain loan amount 1,500 20,000. Prepare your bank account for loan proceeds of credit card and debit cards.

OneMain Financial loan is your best loan options

Submit your financial, personal, and employment information to OneMain Financial personal loans website. An email will be sent to you with the decision.


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Author D Laidler

I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go.  I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.

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A personal loan is a medium term loan with a fixed interest rate that is repaid in equal monthly payments and it's usually limited to 24 months. Loan offers and eligibility depend on your individual credit profile. Our lenders can help you obtain as much as $3,000 depending on the lender, your state and your financial situation.

The owner and operator of is not a lender and is not involved into making credit decisions associated with lending or making loan offers. Instead, the website is designed only for a matching service, which enables the users contact with the lenders and third parties. The website does not charge any fees for its service, nor does it oblige any user to initiate contact with any of the lenders or third parties or accept any loan product or service offered by the lenders. All the data concerning personal loan products and the industry is presented on the website for information purposes only. does not endorse any particular lender, nor does it represent or is responsible for the actions or inactions of the lenders. does not collect, store or has access to the information regarding the fees and charges associated with the contacting lenders and/or any loan products. Online personal loans are not available in all the states. Not all the lenders in the network can provide the loans up to $3,000. cannot guarantee that the user of the website will be approved by any lender or for any loan product, will be matched with a lender, or if matched, will receive a personal loan offer on the terms requested in the online form. The lenders may need to perform credit check via one or more credit bureaus, including but not limited to major credit bureaus in order to determine credit reliability and the scopes of credit products to offer. The lenders in the network may need to perform additional verifications, including but not limited to social security number, driver license number, national ID or other identification documents. The terms and scopes of loan products vary from lender to lender and can depend on numerous factors, including but not limited to the state of residence and credit standing of the applicant, as well as the terms determined by each lender individually. 


APR (Annual Percentage Rate) is the loan rate calculated for the annual term. Since is not a lender and has no information regarding the terms and other details of personal loan products offered by lenders individually, cannot provide the exact APR charged for any loan product offered by the lenders. The APRs greatly vary from lender to lender, state to state and depend on numerous factors, including but not limited to the credit standing of an applicant. Additional charges associated with the loan offer, including but not limited to origination fees, late payment, non-payment charges and penalties, as well as non-financial actions, such as late payment reporting and debt collection actions, may be applied by the lenders. These financial and non-financial actions have nothing to do with, and has no information regaining whatsoever actions may be taken by the lenders. All the financial and non-financial charges and actions are to be disclosed in any particular loan agreement in a clear and transparent manner. The APR is calculated as the annual charge and is not a financial charge for a personal loan product. 

Late Payment Implications

It is highly recommended to contact the lender if late payment is expected or considered possible. In this case, late payment fees and charges may be implied. Federal and state regulations are determined for the cases of late payment and may vary from case to case. All the details concerning the procedures and costs associated with late payment are disclosed in loan agreement and should be reviewed prior to signing any related document. 

Non-payment Implications

Financial and non-financial penalties may be implied in cases of non-payment or missed payment. Fees and other financial charges for late payment are to be disclosed in loan agreement. Additional actions related to non-payment, such as renewals, may be implied upon given consent. The terms of renewal are to be disclosed in each loan agreement individually. Additional charges and fees associated with renewal may be applied. 

Debt collection practices and other related procedures may be performed. All the actions related to these practices are adjusted to Fair Debt Collection Practices Act regulations and other applicable federal and state laws in order to protect consumers from unfair lending and negative borrowing experience. The majority of lenders do not refer to outside collection agencies and attempt to collect the debt via in-house means. 

Non-payment and late payment may have negative impact on the borrowers’ credit standing and downgrade their credit scores, as the lenders may report delinquency to credit bureaus, including but not limited to Equifax, Transunion, and Experian. In this case the results of non-payment and late payment may be recorded and remain in credit reports for the determined amount of time.