Loans

OneMain Financial personal loan full review

Are you looking for a loan to help you pay for some debt or another kind of emergency? The OneMain Financial personal loan can be for you! Learn more in our full review!

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by Victória Lourenço

10/02/2021 | Updated on 10/25/2021

OneMain Financial personal loan

Learn more about the OneMain Financial personal loan in our full review! Source: Wikipedia
Learn more about the OneMain Financial personal loan in our full review! Source: Wikipedia

The OneMain Financial personal loan can be a great loan option for people who do not have very high credit scores. This personal loan company can be very flexible with the payments and options it offers to its clients.

This personal loan can give you the option to choose the date of your payments. Also, there are fast loan options available. Moreover, this personal loan can help you improve your home, pay for a wedding, or even pay for some debt you might have. So, if you want to know more about this personal loan company, keep reading our full review!

APRIt ranges from 18.00% to 35.99%
LOAN PURPOSEThis loan can be used for a variety of purposes, including home improvements, weddings, debt consolidation, an emergency, and more.
LOAN AMOUNTSIt ranges from $1,500 to $20,000
CREDIT NEEDEDThere is no requirement for minimum point credit.
TERMSThe loan can be paid off in 24, 36, 48, or 60 months.
ORIGINATION FEEThe origination cost varies by state, ranging from $425 to $500.
In other states, this charge might be anywhere between 1% and 10% of the loan amount.
LATE FEELate penalties can range from $10 to $30, or 15% of your late payment.
EARLY PAYOFF PENALTYWith this loan, there is no penalty for paying it off early.

How to apply for OneMain Financial?

Are you looking for a lender that approves people with low credit? The OneMain Financial loan can be for you. Read more to know how to apply!

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How does the OneMain Financial loan work?

See how this personal loan works! Source: Gettyimages
See how this personal loan works! Source: Gettyimages

You can get your loan application approved even if you do not have a very high credit score. So, after you get approved for a loan, you can get certain flexibility in your payment dates. Also, if you need a co-signer, this personal loan offers that option as well.

You can get a personal loan from $1,500 to $20,000, and your repayment for the loan can range from 24 to 60 months. Also, you can get an unsecured or secured loan option, depending on your score.

OneMain Financial personal loan benefits

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Pros

  • You can get co-signers for your loan.
  • This lender only does soft credit checks.
  • You can get approved even with low scores.

Cons

  • You cannot use your approved loan to make payments related to business.
  • Some of the rates can be a bit higher when compared to other lenders.

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Should you apply for the OneMain Financial personal loan?

Find out if you should apply for a loan with this lender. Source: Gettyimages
Find out if you should apply for a loan with this lender. Source: Gettyimages

If you have a poor credit score and need a relatively fast loan, this can be a good option for you. However, make sure that you can pay off the fees related to your loan, so you don’t have to pay late payment fees.

Can anyone apply for a loan at OneMain Financial?

This personal loan company did not make available any specific minimum requirements for someone to apply for loans. But if you are worried about the part where they check your credit, you don’t have to because they make soft credit checks. So, if you need a loan and have a low score, you can get some loan application approves, even if you have a lower score than 660.

How to apply for an OneMain Financial loan?

It can be easy to see online if you are pre-qualified to get a loan with this personal loan company. However, you might need to do some research to understand the process a bit better. So, if you want to know more about how to apply for a loan with this company, check out our post below to find out!

How to apply for OneMain Financial personal loan?

Are you looking for a lender that approves people with low credit? The OneMain Financial loan can be for you. Read more to know how to apply!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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