How do I qualify for a OneMain Financial personal loan?

There are several things we consider when reviewing your loan application and determining whether you qualify for a personal loan.

Where you live: You need to be a resident of the United States and at this time, we do not accept applications from residents in Alaska, Connecticut, Massachusetts, Nevada, Rhode Island, Vermont or Washington, D.C.
How old you are: : You need to be at least 18 years old. The minimum age in Alabama and Nebraska is 19 years old.
Your financial history: Except in limited circumstances, to qualify you cannot have filed for bankruptcy.
Your financial situation: You need to have the ability to make the monthly payments required to pay off your loan. That money can come from work income, retirement income, Social Security income, military pay or other sources.
Your loan purpose: You can use a OneMain Financial loan for debt consolidation, personal, family or household purposes, such as home improvements and repairs, auto and truck repairs, vacation and travel expenses, medical bills, household bills, and unexpected expenses. OneMain Financial loans cannot be used for college, university or vocational expenses, including required equipment and supplies, for any business or commercial purpose, to purchase securities, or for gambling or illegal activities.
What is my rate based on?

The fixed rate for your loan is based on a number of factors, including:

  • Your income
  • How much debt you currently have
  • Your credit score
  • Your payment history on current and past debts

There are a number of documents that you'll need when applying for a personal loan. After our loan specialists review this information and if you are approved for a personal loan, we'll let you know what fixed rate you qualify for and what your fixed payment would be for the loan.

If you decide a personal loan is not the option for you, you can cancel for any reason and return the money within 7 days of opening a new loan with the 7 Day Satisfaction Commitment. No penalties. No questions. The 7 Day Satisfaction Commitment does not apply to renewals.

How much do you need to reach your goals?

Loan offers are subject to credit approval and other restrictions and requirements may apply. OneMain Financial loan proceeds cannot be used for college, university, or vocational expenses, including tuition, fees, and required equipment and supplies; for any business or commercial purpose; to purchase securities; or for gambling or illegal activities. The actual loan amount and rate you qualify for will depend on your ability to meet our credit criteria including credit history, income and debts.

Have questions?

If you have questions about what you need to qualify for a personal loan, you can get the answers you need online, by phone or at your local branch. We're ready to help!

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