Loans
OneMain Financial Personal Loan review: how does it work and is it good?
Our ultimate OneMain Financial Personal Loan review will help you discover what makes them unique. Borrow up to $20,000!
Advertisement
OneMain Financial Personal Loan: A solid option for joint and secured personal loans
Our OneMain Financial Personal Loan review is here to assist you in choosing the best loan option!
How to apply for OneMain Financial Personal Loan
Understand how to apply for a OneMain Financial Personal Loan here! Enjoy direct payments for debt consolidation! Keep reading for more!
With their flexible terms and competitive rates, a secure loan with them can be very beneficial. So keep reading now to understand your options for this loan!
- APR: 18.00-35.99%;
- Loan Purpose: Major expenses, debt consolidation, emergency costs, and more;
- Loan Amounts: $1,500 – $20,000;
- Credit Needed: None;
- Origination Fee: $25 to $500 or 1% to 10%;
- Late Fee: $5 to $30 or 1.5% to 15% of the amount paid;
- Early Payoff Penalty: N/A.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Advertisement
What is the OneMain Financial Personal Loan?
OneMain emphasizes the borrower’s capability to pay back their loan. Even though interest rates may be high, it can still approve applicants with poor credit scores.
Plus, it has fast funding, so you get your loan within 1-2 business days after final approval.
However, this lender is unavailable in AK, AR, CT, MA, RI, VT, or Washington, D.C.
Terms and fees
OneMain Financial offers personal loans of up to $20,000 for credit scores of all types over terms of 2-5 years.
However, this convenience comes with fees, including:
- Origination Fee: $25 to $500 or 1% to 10%;
- Late Fee: $5 to $30 or 1.5% to 15% of the amount paid.
The origination fee can be a hassle if you don’t calculate it carefully. There are other reasonable options out there.
Advertisement
Secured Loan
If you want to secure your loan with collateral, this lender accepts vehicles (10 years old or newer) such as:
- A car;
- Boat;
- Motorcycle;
- Or RV.
You will need to provide an appraisal before approval.
Joint options
It’s available if you need extra help getting approved for the amount requested.
Advertisement
Change payment date
You can also choose your monthly payment date, allowing flexibility when managing monthly expenses.
Direct payment for debt consolidation
Finally, direct Payment for debt consolidation loans is offered, which helps ensure payments are made on time each month.
Things you should keep in mind
OneMain Financial Personal Loans can have high-interest rates, depending on the borrower’s credit score and other factors.
Additionally, no APR is given during pre-qualification, so it can be difficult to know exactly what rate you will pay until after application submission.
Is the OneMain Financial Personal Loan good?
If you want a secure loan, this might be a good option. However, some features can be costly. Learn about its pros and cons below.
Pros
- You can choose and change payment dates;
- Joint and secured loans;
- Direct payments for debt consolidation;
- Funding in 1 or 2 business days.
Cons
- High rates compared to competitors;
- Origination fee;
- Pre-qualification doesn’t show rates.
Does OneMain Financial check credit scores?
With no minimum credit score requirement, even if your credit is an issue, OneMain Financial offers a secured loan option that requires collateral.
Want to apply for the OneMain Financial Personal Loan? We will help you!
Secure your loan with OneMain Financial Personal Loan with flexible payments. How to do it? Keep reading to understand the application process.
How to apply for OneMain Financial Personal Loan
Understand how to apply for a OneMain Financial Personal Loan here! Enjoy direct payments for debt consolidation! Keep reading for more!
Trending Topics
Application for the Upgrade card: how does it work?
Learn how to get your new credit card even if you don't have a credit score. Enjoy the benefits of having an Upgrade credit card.
Keep Reading
Shop Your Way Mastercard® review: up to 5% cash back
Explore the benefits of the Shop Your Way Mastercard® in our review – a no-annual-fee rewards card that earns you points on gas and dining!
Keep Reading
Is the U.S. headed for a housing crisis?
Could a housing crisis be on the horizon for the United States? Find out what factors could lead to one and how it would impact the economy.
Keep ReadingYou may also like
Learn to apply for a Discover Student Loan
Learn how to apply for a Discover Student Loan and get full cost of attendance, plus forbearance options in times of hardship.
Keep Reading
Blaze Mastercard® Credit Card Review: The best tool for building credit
Discover the good and bad of Blaze Mastercard® Credit Card for Building Credit – An honest review to assist in your decision. Read on!
Keep Reading
Learn to apply easily for True American Loan
Apply for the American Personal Loan: The step-by-step that will get you started today. Keep reading to find out more!
Keep Reading