Secured vs. Unsecured Loans

If you're thinking about borrowing money to consolidate debt, pay medical bills or make auto or home repairs, you may be considering a personal loan. To help you make the choice that's right for you, here are some things you should know about personal loans.

There are two common types of personal loans, secured and unsecured. You can use the money you borrow with either type of loan for a range of expenses:

Home improvements
Auto or truck repairs
Debt consolidation

What's the difference between a secured and unsecured loan?

Choose the time of the month when your loan is due and how to pay.


You can choose your monthly loan payment due date, which can make your payments fit more comfortably into your budget and cash flow. To make paying your loan as convenient as possible, there are five ways you can pay—online, by mail, AutoPay, by phone or at your local branch.

We're ready to answer your questions.


We're here to answer any questions you have about your loan. Whether you want to know more about the loans we offer, need help completing your application or want to know what you need to qualify for a personal loan, we have the answers. Get in touch with us online, by phone or at your local branch.

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.

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