OneMain Financial Review

ByBestmoney StaffFeb. 08, 2021

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In a Nutshell

OneMain Financial is a subsidiary of OneMain Holdings, Inc., a publicly traded financial services company founded in Baltimore in 1912. It specializes in providing unsecured and secured personal loans to consumers across America. It operates online and in branches around the country. As of the end of 2019, it had more than 1,500 branches in 44 states.


  • Trusted, hundred-year old lender
  • Excellent customer service reviews
  • Flexible repayment options


  • High minimum APR
  • Loan must be signed in branch

OneMain Financial at a Glance

Direct lender or marketplace? Direct
Loan types Unsecured and secured personal loans
Loan amount $1,500 - $20,000
Repayment terms 24-60 months*
APR 18.00% - 35.99%**
Suitable for Borrowing from a trusted brand

OneMain Financial OneMain Financial Visit OneMain Financial

Suitable For?

Not many personal loans lenders can claim to have the level of experience and trust OneMain Financial has. With OneMain Financial, you get a lender with more than a century’s experience serving the American public. What’s more, it has an almost-perfect Trustpilot rating from 20,000+ reviews – with 95% of people rating it excellent or great. That alone is enough to consider OneMain Financial for your next loan.

Range of Loans on Offer

OneMain Financial specializes in secured and unsecured personal loans. Automobiles are the usual collateral for secured loans. Its unsecured personal loans are installment loans with fixed interest rates that you can use for many purposes.

Application Process & Requirements

The process of applying for a personal loan from OneMain Financial is fairly straightforward. You can apply online or in branch, although a branch visit is a requirement once approved.

Here are the 3 steps to getting a personal loan:

  1. Complete an online application. Provide personal, employment, and financial information to apply.
  2. Meet with your loan specialist. If approved, you’ll have to visit a branch in your local area to verify your identity, income, expenses, and employment.
  3. Sign and receive your funds. After reviewing and accepting the loan terms, you’ll sign your loan documents and receive the funds.

APRs, Loan Amounts & Repayment Terms

The great thing about OneMain Financial is they’re completely transparent about the loan amounts, APRs, and terms. The downside is their lowest rates aren’t all that competitive. If you have good or even very good credit, you can probably find a competitive rate here. But if you have excellent credit, then you should look elsewhere for market-beating rates.

Here are the key figures:

  • Loan amount: $1,500 - $20,000 (higher minimums and lower maximums apply in some states – see OneMain Financial website for full details)
  • APR: 18.00% - 35.99%*
  • Term lengths: 24, 36, 48, or 60 months*

Privacy & Security

OneMain Financial is a subsidiary of OneMain Holdings, Inc., a NYSE-listed company. As such, it is subject not only to consumer lending standards but also to the strict laws imposed by the SEC on public financial services companies. To protect your personal information from unauthorized access, OneMain Financial says it uses security measures that comply with applicable law. These include computer safeguards and secured files and buildings.

Help & Support

As mentioned earlier, OneMain Financial has an excellent 4.8/5 Trustpilot score from more than 22 thousand reviews. It doesn’t get much better than that. To enquire about a personal loan from OneMain Financial, use the quote request form or contact form on its website. Alternatively, use the ‘branch search’ tool on the OneMain Financial website to find a branch in your area.

How OneMain Financial Compares

APR18.00% - 35.99%*
5.99% - 20.69% (with AutoPay)
Min credit scorePoor +
Good +
Loan amounts$1,500-$20,000
Loan term24-60 mo.
24-84 mo.
Suitable forBorrowing from a trusted lenderBorrowing on excellent credit

The most obvious advantage OneMain Financial has over online only lenders is its experience. While OneMain Financial doesn’t have the lowest APRs, it makes up for this with strong customer service and attention to your individual credit profile. Unlike some of the top online lenders, OneMain Financial serves borrowers with less-than-excellent credit, making it a solid choice for anyone unable to qualify for a top rate elsewhere. 


Aside from personal loans, what else does OneMain Financial offer?

Currently, OneMain Financial also offers loans secured by motor vehicle collateral like an automobile.

What are the payment methods?

You can make your loan payment online, in-branch, by mail, or by phone. Cash payments may be made at select retailers. OneMain also offers the Direct Pay program that deducts your payments automatically from your checking or savings account.

Where does OneMain Financial have branches? It has branches in 44 states. The only states where it doesn’t operate are: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, and Vermont.

How soon will you receive the funds? Electronic funds will normally arrive within two business days. If your receive your funds by check, it may be available the same day if you are approved by noon.


When you borrow money, you want to know you’re dealing with someone you can trust. OneMain Financial provides a high level of trust backed by excellent customer service ratings and more than a century’s experience as a lender. It offers competitive rates to anyone with good-to-average credit.

Physical Address

OneMain Holdings, Inc.

601 N.W. Second Street

Evansville, IN 47708-1013

OneMain Financial OneMain Financial Visit OneMain Financial


*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: Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. 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 27,908
TrustPilot is the world’s most powerful review platform, free and open to all.
  • author
    a day ago
    OneMain has been a very good and no…

    OneMain has been a very good and no hassle form of needed help for things that are necessary and wanted in our household. The staff is genuinely kind, efficient and professional. I recommend them quite often.


  • author
    Elisa K
    a day ago
    Very easy and helpful

    Very easy and helpful. They answered all my questions and concerns. Will do business again with you.


  • author
    a day ago
    I was struggling after the crazy year…

    I was struggling after the crazy year 2020 brought and being newly separated from my husband. I wanted to ensure that the separation would not financially impact my children and the two elders I care for daily. One Main financial was exactly what I needed. I was able to get completely caught up on my bills and set some money aside for a mini vacation with my girls this summer. Their patience and calm demeanor made the process easier than I imagined. The process was quicker than I hoped. I will recommend!


  • author
    Sylvia C
    2 days ago
    Very pleasant and professional…

    Very pleasant and professional experience. Exceptional customer service from beginning to end. I recommend you to my friends and family. Thank you.


  • author
    2 days ago
    Gisele was very knowledgeable great…

    Gisele was very knowledgeable great customer service


OneMain Financial