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.
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.
You will be redirected to another website
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.
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.
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!
Suzana Brito
Trending Topics
Auto Credit Express review: how does it work and is it good?
Find out how to get an auto loan with specialists in bad credit. Read on to an Auto Credit Express review and learn more.
Keep Reading
Application for the Capital One Savor Cash Rewards Credit Card: how does it work?
Learn how to apply for the Capital One Savor Cash Rewards Credit Card and get unlimited cash back on dining, entertainment, and more!
Keep Reading
Blue Cash Preferred® Card from American Express review
Do you need a cash-back card for your daily expenses? Know how to get one in this Cash Preferred® Card from American Express review. Read on!
Keep ReadingYou may also like
NetCredit Personal Loan review: how does it work and is it good?
Is a loan for bad credit for anyone? That's what we'll discuss in this NetCredit Personal Loan review. Enjoy free financial education!
Keep Reading
Cheap Sun Country Airlines flights: find flights from $39,99!
Get the scoop on what to expect before you book Sun Country Airlines cheap flights. Save a lot on your next trip! Read on and learn how!
Keep Reading
Group One Platinum Card application: how does it work?
Learn how to apply for the Group One Platinum Card in easy steps. You can qualify for this card with no credit check! Read on for more!
Keep Reading