OneMain Financial Personal Loans Review

Name: OneMain Financial
Item: OneMain Financial
Rating: 3.4
Author: Denny Ceizyk

Written by

Denny Ceizyk

Edited by

Katie Lowery, CFHC

Updated on August 28, 2026

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At a glance

Find my rate

with Bankrate

3.4

Bankrate Score

Availability

5.0

Affordability

3.8

Customer Experience

4.7

Transparency

4.6

Full methodology

Bankrate take: OneMain Financial offers secured and unsecured personal loans with fast funding. It accepts borrowers across the credit spectrum, including those with bad credit, but you can expect high interest rates and fees.

Lender Details

Loan amount

$1,500–$30,000

APR from

11.99%–35.99%

Term lengths

24-60 months

Funds available in

Potentially as soon as the same day if approved before noon; can be deposited by ACH in up to 2 business days

In the news

In May 2023, the CFPB ordered OneMain Financial to pay at least $10 million to consumers for deceptive and misleading practices regarding its optional add-on products. Because of this, we’ve subtracted one point from OneMain Financial’s Bankrate Score.

OneMain Financial is also currently facing a multistate lawsuit for junk fees and add-on products. If OneMain Financial settles the case or is found guilty, it will be assessed an additional 1-point penalty that will be subtracted from its Bankrate Score.

OneMain Financial is best for same-day bad credit loans

Borrowers in a financial crunch may access loan funds the same day they apply for a personal loan with OneMain Financial. Most lenders require at least a business day before funds are disbursed.

This lender doesn’t have a minimum credit score requirement, which means you may qualify for a loan with a score below the 600 minimum set by other bad credit lenders. If the rate on an unsecured loan doesn’t meet your needs, you can offer your vehicle as collateral for a secured loan. In fact, a lien against your vehicle may be required to access larger loan amounts.

OneMain Financial personal loan purposes

Funds from a OneMain Financial personal loan can be used for anything from paying for an emergency car repair to consolidating high-interest debt. Like most personal loan lenders, you can use a OneMain Financial loan for nearly any (legal) purpose.

However, the lender prohibits using personal loan funds for college or trade school tuition, business purposes or to invest in the stock or crypto market. These are fairly standard restrictions in the personal loan market.

Where OneMain Financial stands out

Same-day funding possible: You could have OneMain Financial personal loans funds the same day you apply, assuming you apply early in the day and qualify for funding. Most personal loan lenders require at least one business day to disburse funds.
Can add a co-applicant to help you qualify: OneMain Financial works with bad-credit borrowers, but if your income is too low or you have too much credit card debt to qualify on your own, you can apply with a creditworthy co-borrower. Applying with a second person can boost your approval odds and may unlock lower rates, but remember that your co-borrower is equally responsible for repayment.
Secured loan options are also available: If you own a newer car outright, OneMain Financial is one of only a few lenders that allows you to use it as collateral for a personal loan. Your rate may be lower than an unsecured loan. Keep in mind that if you fail to repay the loan as agreed, the lender may repossess your vehicle to settle your debt.

Where OneMain Financial falls short

Higher start rates than other bad credit lenders: Though OneMain cut its rates in early 2026, you’ll still pay at least an 11.99% rate for a personal loan at OneMain Financial. Other lenders offer lower APR options if your score is in the fair or good credit range.
Smaller loan amount maximums: OneMain Financial borrowers are limited to a $30,000 maximum loan amount, less than the $35,000 or more offered by other bad credit lenders. Borrowers in some states are limited to even smaller loans — in Maine, for example, the most you can borrow is $7,000.
More expensive fees than other lenders: Loan origination fees range from 1% to 10% of the amount you borrow, potentially making OneMain a pricey loan option. You may also pay a late payment fee, a non-sufficient funds fee and fees related to getting a secured loan on your vehicle.

OneMain Financial customer resources

Customer support

Customer service is available Monday through Friday from 8 a.m. to 8 p.m. ET. There are dedicated customer service numbers for help with current customers, new loan applications and OneMain Financial’s mobile app.

Customers can also email a question and receive a reply within one to two business days, according to the lender’s website. You can apply online, over the phone or in person at one of the over 1,300 branches throughout the country.

Digital experience

OneMain Financial customers can manage loans from the company’s online app. It’s available on Google Play and the App Store with a rating of 4.2 and 4.5 out of 5 stars from the 5,500 and 6,000 user reviews, respectively. The website also offers a resources tab with helpful explainer content about different types of personal loans as well as financial calculators and guidebooks that cover a variety of personal finance topics.

How this lender compares

3.4

Bankrate Score

APR from

11.99%–35.99%

Loan Amount

$1,500–$30,000

Term Length

24-60 months

Min Credit Score

Not disclosed

Compare rates

on Bankrate

4.5

Bankrate Score

APR from

9.95%-35.99%

Loan Amount

$2,000-$35,000

Term Length

24-60 months

Min Credit Score

550

Read our review

on Bankrate

3.9

Bankrate Score

APR from

34.00%-99.99%

Loan Amount

$1,000-$10,000

Term Length

6-60 months

Min Credit Score

Not disclosed

Read our review

on Bankrate

OneMain Financial vs. Avant

OneMain Financial’s same-day funding option for qualified borrowers makes it a quicker cash option than Avant, which takes one business day or more to fund. Both Avant and OneMain Financial work with bad-credit borrowers, but you must have a score of at least 550 to qualify with Avant.

However, if you have good credit, Avant is a much less expensive option. Well-qualified Avant borrowers could receive a rate as low as 9.95%, versus OneMain’s high starting rate of 11.99%. You can also borrow larger amounts from Avant: up to $35,000.

Read our full Avant review

OneMain Financial vs. NetCredit

OneMain Financial gives you much more borrowing power at significantly lower rates than NetCredit. You’re limited to a $10,000 loan with NetCredit and may pay rates as high as 99.99%, compared to a $30,000 maximum loan amount with a rate range of 11.99% to 35.99% at OneMain Financial.

If you don’t qualify for a OneMain Financial loan, NetCredit could be a worthy option to avoid reliance on predatory payday loans.

Read our full NetCredit review

Do you qualify for a OneMain Financial personal loan?

You’ll need to document your income and expenses, and your credit report will be pulled to finalize your loan offer. There are also some unique qualifying requirements for OneMain Financial personal loans.

To qualify for a secured loan, your vehicle must be ten years old or newer, meet undisclosed value requirements, be titled in your name and have valid auto insurance.
OneMain Financial loans aren’t available in Alaska, Arkansas, Connecticut, District of Columbia, Massachusetts, Rhode Island, Vermont or U.S. territories.

While OneMain Financial generally offers loans between $1,500 and $20,000 to qualifying borrowers in eligible states, the amount you can borrow depends on your state of residence. Some states have higher loan minimums: Alabama ($2,100), California ($3,000), Georgia ($3,100), North Dakota ($2,000), Ohio ($2,000) and Virginia ($2,600). Similarly, some states have lower loan maximums: North Carolina ($11,000), Maine ($7,000), Mississippi ($12,000) and West Virginia ($13,500).

How to apply for a personal loan with OneMain Financial

Get a quote. You can prequalify and get a preliminary offer within minutes without affecting your credit score.
Add information and finalize your application. Prepare to provide proof of income and identity with items like a pay stubs and a government ID. If you’re applying with a co-borrower, you’ll need to provide the same information for them. And if you apply for a secured loan, you'll also need to provide details about your car.
Review the loan details. Read the final terms and conditions carefully and ensure you understand your repayment obligations before signing the loan contract. If you start your application early enough in the day, you could have your funds by that afternoon.

How Bankrate rates OneMain Financial

Overall score	3.4	Explanation
Availability	5.0	Same-day funding options with co-signer flexibility
Affordability	3.8	Higher starting rates and smaller maximum loan amounts than other bad credit lenders
Customer Experience	4.7	Highly rated app for online users and over 1,300 stores for borrowers that prefer in-person service
Transparency	4.6	Credit requirements not listed online, but fully discloses rates and fees on website
Penalty	-1.0	OneMain Financial paid $10 million to consumers after a CFPB lawsuit.

Methodology

Bankrate's trusted personal loans industry expertise

Read our full methodology

years in business

lenders reviewed

loan features weighed

900

data points collected

Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:

Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also considered whether prequalification was available, as all these factors are key for consumers to make an informed decision.

When a lender has entered a consent decree, been assessed a penalty in a case brought by a federal regulator or in a certified, federal class-action lawsuit, or has received a federal judgment for harming borrowers within the past three years, we deduct one point for each penalty received from its total Bankrate Score.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

OneMain Financial Personal Loans Review

The Bankrate promise

At a glance

Lender Details

Loan amount

APR from

Term lengths

Funds available in

In the news

OneMain Financial is best for same-day bad credit loans

OneMain Financial personal loan purposes

Where OneMain Financial stands out

Where OneMain Financial falls short

OneMain Financial customer resources

Customer support

Digital experience

How this lender compares

OneMain Financial vs. Avant

OneMain Financial vs. NetCredit

Do you qualify for a OneMain Financial personal loan?

How to apply for a personal loan with OneMain Financial

How Bankrate rates OneMain Financial

Methodology

Bankrate's trusted personal loans industry expertise

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