When you submit your application, you’ll likely receive a loan decision within 10 minutes. Depending on your credit and the requested loan amount, OneMain Financial may require you to provide some form of property as collateral to secure the loan.Īll of OneMain Financial’s loans have fixed interest rates, and there are no prepayment penalties if you choose to pay off the loan early. Instead, OneMain Financial uses the information on your application to determine your eligibility for a loan and what type of loan to offer you. You don’t get to choose which kind of loan you apply for. OneMain Financial issues both secured and unsecured personal loans. Types of Personal Loans Offered By OneMain Financial According to the company, 89% of Americans live within 25 miles of a OneMain Financial branch. It’s headquartered in Evansville, Indiana, but it has branches in 44 states. With 10.3 million customers, OneMain Financial is one of the largest installment loan lenders in the country. OneMain disburses loans in as little as one business day after an applicant is approved, so it could be a good choice if you have an emergency expense and need money quickly. Prospective borrowers applying for a secured loan and using their property as collateral may qualify for lower rates or a larger loan amount. The company issues both secured and unsecured loans. It primarily serves non-prime customers the majority of OneMain personal loans are issued to borrowers with scores of 619 or below.Ĭustomers can borrow between $1,500 and $20,000 through OneMain Financial and have up to five years to repay the loan. OneMain Financial is a personal loan lender that allows customers to apply for loans at one of its branches or online. Another option that may be offered is taking a smaller loan. If that’s the case, you may need to apply for a secured loan with collateral instead.
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