Considering a OneMain Financial personal loan? You’re in luck. They offer both unsecured and secured personal loans with no origination or early payoff fees. The company’s online application makes the process simple, but you’ll still have to go into a branch to verify your identity and discuss your loan offers. The entire process should take about two business days, and you can expect to have your loan funds within a few days.
OneMain Financial offers secured and unsecured personal loans
OneMain Financial provides a range of loans to suit different needs. Its online application form requires applicants to provide a few personal details, such as the amount they wish to borrow, the reason for the loan, and their bank account information. Upon approval, the loan can be funded within one to three business days. The only thing the lender does not disclose is its credit score requirements. However, you must be 18 or older with a valid SSN or immigration visa. OneMain also offers a loan with a speedy approval, but it requires borrowers to present documents as proof of income, employment and expenses.
In addition to unsecured loans, OneMain also provides secured loans for people with less-than-perfect credit. Its low credit score requirement and ability to offer low-interest rates make OneMain a good choice for those seeking a personal loan with a low credit score. Applicants are advised to check OneMain Financial’s terms and conditions before applying, and if the terms work, they should apply for a loan.
It has a seven-day satisfaction guarantee
If you are looking for a personal loan and have bad credit, OneMain Financial may be the right company for you. OneMain offers both unsecured and secured loans with large loan amounts and long payoff periods, but their interest rates are high. This review is not sponsored or commissioned by OneMain Financial, and we do not endorse or recommend any company. While we believe this company is a good choice, we do not recommend it.
While the rates are high, OneMain Financial offers a satisfaction guarantee if you are not happy with the service. If you are not happy with your loan, you can simply cancel it within seven days of taking it out. OneMain Financial does not reveal the minimum credit score for approval, but if you are unsure, you can contact a loan officer over the phone for more information. OneMain Financial will consider your credit score and other factors in deciding whether or not to give you a loan.
It has no origination fees
OneMain Financial personal loans may not be right for everyone, but they are a great option for people with bad credit. The company offers both unsecured and secured loans, as well as large loan amounts and long payoff periods. Beware of high APRs and high origination fees, however. This OneMain Financial personal loan review was not sponsored or commissioned by the company, and does not reflect their views.
However, OneMain does charge late payment fees. They vary in price depending on your state, but the fee can be anywhere from $5 to $30 per late payment. The fee may also be a percentage of the monthly payment, ranging from 1.5% to 15%. It is important to note that late payment fees will vary depending on state law, so make sure you understand the fine print. OneMain also does not penalize early repayment.
It offers no early payoff fees
OneMain Financial offers no early payoff fees on its personal loans, which means you can repay your loan at any time. The lender charges late-payment, non-sufficient-funds and other fees, but varies by state. OneMain Financial offers personal loans of $1,500 to $20,000 with payoff periods of 24 to 60 months. While the company does not list any specific minimum income or age requirements, applicants must be a US citizen or permanent resident. They also accept cosigners.
It accepts collateral
Although OneMain Financial does not require any collateral, it is a good option for people with bad credit. In addition to accepting collateral, this lender offers a seven-day cancellation policy. This lender does not require a vehicle as collateral, but it does accept other forms of collateral. OneMain Financial does not require an active-duty military member to pledge their vehicle as collateral. The company’s website allows borrowers to complete a quick application online, and the process takes just two minutes. It does not affect the credit score.
Another option for borrowers who don’t qualify for unsecured loans is to use collateral to secure a personal loan. While this option is not appropriate for everyone, many lenders consider it the best option for some individuals. Using collateral increases the chances of getting approved for a loan, and it allows you to qualify for a higher amount. However, make sure you review the terms of the loan carefully before applying. You can even use your vehicle as collateral.