What you need to know about this loan:
- Loan Amounts Offered: $1,500 – $20,000
- Loan Terms (monthly): 24 – 60 months
- Payment methods: Online, mobile app, in-person, phone, mail
- Interest rate: Fixed APR from 18.00% to 35.99%
Pros
- Accepts bad credit: Ideal for borrowers with low or no credit score.
- Same-day funding: Money available as fast as 1 hour after closing.
- Secured and unsecured options: Choose to back your loan with a car for better rates.
- Real human support: Available online, by phone, or at a local branch.
- Fixed monthly payments: Easy to budget with transparent terms.
Cons
- High APRs: Rates are higher than average, especially for unsecured loans.
- Origination fees: Fees vary by state and may reduce the net amount received.
Why Choose OneMain Financial for Your Loan?
Applying for a personal loan at OneMain Financial offers many advantages compared to banks like Wells Fargo, SoFi, Upstart, Marcus by Goldman Sachs, and Upgrade.
Unlike Wells Fargo, OneMain does not require an excellent credit score, making it more inclusive for people with limited credit history.
Compared to SoFi, which only works with borrowers with strong credit, OneMain is a better fit for those with lower scores who need urgent funding.
Upstart uses AI to evaluate applications, which may be unpredictable — OneMain offers human interaction and branch-based service.
While Marcus offers no secured loan option, OneMain lets you apply using your car as collateral to improve your chances and conditions.
Upgrade offers fast funding, but OneMain can match it — with potential for money in hand just one hour after your loan is approved and signed.
How to Apply for Your OneMain Financial Loan
Getting started is easy — check your eligibility without affecting your credit score. Choose your terms, submit required documents, and get your funds fast.