OneMain Financial 2026 Personal Loan Review
OneMain Financial is an option for personal loans if you have bad credit or a thin credit history.
- Have a low credit score.
- Need a joint or secured loan.
- Need to borrow more than $30,000.
- Want to avoid an origination fee
What to know about OneMain Financial personal loans
If you’re worried about a low credit score excluding you from getting a personal loan, consider applying for a loan from OneMain Financial.
Unlike some lenders, OneMain does not have a required minimum credit score. The lender told us it considers applicants across the credit spectrum, including those with bad credit or a thin credit profile.
Instead of relying heavily on credit scores, OneMain Financial says it factors in the applicant’s full financial situation, including their cash flow. The lender also offers secured loans and joint loans, which can be easier to qualify for if you don’t have a strong credit history.
OneMain Financial’s annual percentage rates start at 11.99%, which is higher than many of the lenders we review. There are also no rate discount opportunities for unsecured loans, which other lenders offer.
It’s worth mentioning, though, that OneMain caps its rates below 36%, which is the highest rate most financial experts consider affordable for a personal loan.
If you’re considering a OneMain Financial loan, I recommend you pre-qualify through NerdWallet rather than from the lender’s website. OneMain Financial told us its affiliate partners like NerdWallet show key details like your expected rates, repayment terms and monthly payments when you pre-qualify. If you pre-qualify on OneMain’s website, you’ll only see the loan amount you’re pre-qualified for and whether you’ll need to put down collateral for the loan.
Another thing to take into consideration before choosing a OneMain loan: In March 2026, 13 state attorneys general filed a lawsuit against OneMain claiming it violated consumer protection laws by allegedly misleading borrowers into getting add-on products that increased their costs.
OneMain Financial released a statement claiming that the allegations are false and the lawsuit is just re-surfacing old issues that the Consumer Financial Protection Bureau (CFPB) already reviewed and resolved.
Still, it’s always important to carefully read any loan agreement before you sign. Lenders are required to disclose loan costs before you enter into a loan agreement. If the lender can’t answer questions about why certain fees are included, walk away.
» MORE: Compare the best personal loans
What we like most about OneMain Financial
- It considers applicants from across the credit spectrum: Even if you have bad credit or a thin credit history, you may be able to qualify for a OneMain Financial personal loan. OneMain has loan specialists available to discuss your individual financial situation and what options are available to meet your needs.
- It offers joint and secured loan options: Opting for a joint loan with a co-borrower could help you qualify for a loan if you can’t on your own. Choosing to pledge collateral for a secured personal loan can have the same effect. A joint or secured loan could also help you score a lower rate or larger loan amount.
- Fast funding: OneMain provides instant approval or denial responses when you submit an application. It can fund your loan the same day if you’re approved and have the money sent to a debit card. If you opt to have the money sent via an ACH direct deposit or by check, it could take a day or two for you to get the funds.
Why OneMain Financial may not be right for you
- High starting rates: Many personal loan lenders have starting rates under 10%, while OneMain’s rates start at 11.99%. If you have good or excellent credit, you’ll likely have cheaper loan options elsewhere.
- You’ll have to pay an origination fee: A OneMain Financial personal loan comes with an origination fee that’s either 1% to 10% of the loan amount or a flat amount of $25 to $500, depending on the state you live in. Origination fees make the cost of borrowing more expensive, but they are common among online lenders.
- You can’t get a large loan: OneMain Financial offers personal loans from $1,500 to $30,000. You’ll have to choose a different lender if you need to borrow a higher amount. Many lenders we review offer loans up to $50,000 or more.
How much does a OneMain Financial personal loan cost?
The total cost of your OneMain Financial loan depends on the amount borrowed, annual percentage rate and loan term. Here is an example of how different rates affect the costs of a $10,000 loan with a 3-year term. OneMain Financial didn’t disclose the average APR range for its typical borrower, so these are just two examples within its general APR range.
APR | 15%. | 30%. |
Monthly payment | $347. | $425. |
Total interest cost | $2,479. | $5,283. |
Total loan cost | $12,479. | $15,283. |
» MORE: Use our personal loan calculator to estimate your costs
Do you qualify for a OneMain Financial personal loan?
OneMain Financial does not have a high barrier to qualify for a personal loan. It may review your current cash flow, so you should be able to show you have enough disposable income to afford a new loan payment.
Loans are not available to residents of Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont or Washington, D.C. You can pre-qualify with a soft credit pull to check your likelihood of qualifying before submitting a formal application. A soft credit pull does not impact your credit score.
OneMain Financial’s borrowing requirements
- Minimum credit history: 1 account.
- Must provide proof of identity, such as a state-issued ID, driver’s license or passport.
- Must provide a Social Security number or Individual Taxpayer Identification Number.
- Must provide proof of residency.
- Must provide proof of employment or income.
- Must not be in an active bankruptcy or have filed for bankruptcy within the past year.
» MORE: How to get a personal loan
Frequently asked questions
Q: What can I use a OneMain Financial loan for?
A: You can use a OneMain Financial personal loan for nearly anything including debt consolidation, home improvement projects, medical or dental expenses, emergencies, moving costs, traveling and more. You can’t use a OneMain Financial personal loan for higher education expenses, business expenses, investing, gambling or illegal activities.
Q: Does the lender offer direct pay to creditors for debt consolidation loans?
A: Yes, if you’re consolidating debt, you can have OneMain Financial send your loan funds directly to your creditors to pay off the balances. This saves you a step in the debt consolidation process.
Q: Does OneMain Financial have a mobile app?
A: Yes, OneMain Financial has an app where you can manage your monthly loan payments. You can also view your credit score for free using OneMain’s app.
Q: What happens if I can’t make an upcoming loan payment?
A: Contact OneMain Financial if you need to change your monthly payment date or to inquire about hardship accommodations. The lender lets you change your payment date twice during the life of the loan, but only once in a 12-month period. Other financial hardship accommodations it may offer include payment deferment or temporary payment reductions. Make sure to contact OneMain prior to missing your monthly payment, otherwise you may get charged a late fee up to $30 or 15% of your monthly payment amount.
Q: Does the lender report payments to the major credit bureaus?
A: Yes, OneMain Financial reports loan payments to Experian, Equifax and TransUnion — plus a smaller credit reporting agency called Innovis. On-time payments can positively impact your credit score, while late payments can cause your score to drop.
How does OneMain Financial compare?
 |  |  |  |  |
|---|---|---|---|---|
Est. APRFrom 11.99% to 35.99% | Est. APRFrom 6.99% to 35.49% | Est. APRFrom 5.96% to 35.99% | Est. APRFrom 7.24% to 24.89% | Est. APRFrom 7.74% to 35.99% |
Loan amountFrom $1,500 to $30,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 |
Min. credit scoreNaN | Min. credit scoreNaN | Min. credit score600 | Min. credit score660 | Min. credit score600 |
How we rated this lender
NerdWallet’s editorial team rates lenders using a rubric with five weighted categories and 29 subcategories. Here are the factors we prioritized, plus why this lender received each score.
OneMain Financial’s starting rate is in the double digits, and it charges an origination fee that can be up to 10% of the loan amount or $500.
Our Method: We review lenders’ rates and fees, plus any opportunities for rate discounts.
OneMain lets you adjust your monthly payment date and may provide you with special accommodations if you’re experiencing financial hardship. It also has a mobile app and reports loan payments to the three major credit bureaus.
Our Method: We look at factors such as customer service availability, monthly payment flexibility and whether the lender reports on-time payments to major credit bureaus.
OneMain offers joint loans and secured loans, plus it provides multiple repayment term options. But the lender does not offer loans over $30,000.
Our Method: We assess loan amount and term ranges and whether lenders offer multiple loan types or direct payment to creditors on debt consolidation loans.
OneMain Financial considers loan applicants from all credit bands and lets you pre-qualify with a soft credit check, which doesn’t impact your credit score.
Our Method: We consider how widely available and accessible the loans are and how lenders review applicants’ credit.
OneMain Financial has fast funding and a website that shares the loan amounts, rates and terms it offers. However, you don’t get much information about your individual expected loan when you pre-qualify on OneMain’s website.
Our Method: We evaluate loan approval and funding times and the lender’s transparency throughout the application process.
Read more about our ratings methodologies for personal loans.
Learn more about personal loans
