How It Works

Before you close your loan, OneMain will need you to provide the following documents:

• A copy of a valid, government-issued ID (e.g. driver’s license or passport)
• Your Social Security card
• Proof of residence (e.g. a driver’s license with your current address, a utility bill, or a signed lease)
• Proof of income (e.g. paystubs or tax returns)

We may ask for additional items based upon your unique situation. Ready to apply? Start your loan application today.

On average, from the start of the application to the receiving of funds, the process takes about one day. The amount of time may vary, however, based on what time you submit your application, the number of documents required in order to approve your application, and how long it takes to receive those documents, among other factors.

Average lengths of time for the online application process (may vary depending on your circumstances):

• Completing the application and receiving a decision: Less than 10 minutes*
• Signing the agreements and receiving funds: By the next business day after approval

* May take longer depending upon the amount of time required for the verification process.

Ready to apply? Get your loan application started today.

You may choose to receive your loan in one of the following ways:

• By direct deposit ‐ Get your funds deposited directly into your checking or savings account.
• In person ‐ Receive a check at the branch during the loan closing.

Start your loan application now and get funds as early as the next day after approval! Apply now.

There are several ways to make a payment.

Please choose the most convenient option for you:

• Online

  You have two options to pay online:

  • To make a one-time payment: go to the  Make a Payment page. Be sure to have your OneMain account number, Social Security Number and a blank check ready.
  • To make recurring payments through Direct Pay: Log in to your OneMainFinancial.com account and complete the steps for enrolling in Direct Pay
  Forms of payment accepted online:
  • ACH transfer (from your checking or savings account)
  • Debit card* (please note that debit card payment is not available for Direct Pay)

• In a branch

  Visit any OneMain branch to make a payment.

  Forms of payment accepted in a branch:
  • Cash
  • Debit card*
  • Personal check
  • Payroll check
  • Government check
  • Cashier check
  • Traveler’s check
  • Third party personal check
  • Money order
  • Bank draft
  • Insurance draft
  • ACH (Automatic Clearing House)

• By Phone

  You have two options to pay by phone:

  • Call Customer Service at  1-800-961-5577
  • Call the OneMain branch that services your loan

  To find the number of the branch that services your loan, refer to your monthly statement. You can access your monthly statement through your  OneMainFinancial.com account.

  Forms of payment accepted by phone:
  • ACH (checking or savings account)
  • Debit card*

• By Mail

  Send a check made out to OneMain Financial to the PO Box listed on your monthly statement. You can access your monthly statement through your OneMainFinancial.com account.

  Preferred forms of payment by mail:

  • Personal check
  • Cashier check
  • Money order

  If you would like additional information on payments by mail, please contact your local branch.

• By OneMain Mobile App

  Download the OneMain Mobile app, available for iOS and Android. Once installed, click “Make a Payment” and follow the instructions provided.

  Forms of payment accepted by phone:
  • ACH (checking or savings account)
  • Debit card*

• At any Walmart Service Desk

  Take your loan account number to a Walmart Service Desk to make a CheckFree payment.**

* Please note there is a fee of $2.95 assessed by our third party payment processor, ACI, for every debit card transaction. This fee is assessed separately from your loan payment and will be shown separately on your debit card statement as "ORCC Payment Convenience Fee.”

** Walmart charges a fee of $1.00 - $1.50 for each OneMain loan payment made at a Walmart service desk.

A precomputed loan is a loan where the interest for the term is calculated when the loan is made. The interest is included in the account balance. Because interest is calculated when the loan is made and not as payments are made, the interest is "precomputed".

A precomputed loan is made up of the amount borrowed (also called the amount financed), plus precomputed interest, plus any prepaid finance charges. Prepaid finance charges are loan fees charged in addition to interest. Examples include an origination fee and an administrative fee. The amount financed and loan fees are called the "principal".

As payments are received, the account balance goes down by the amount of the payment. Payments are not applied separately to principal and interest because the account balance already includes both principal and interest.

If a precomputed loan is paid off early, all of the precomputed interest may not have been "earned". The earned interest will be calculated based on how long it took to pay off the loan. The unearned interest is then refunded by subtracting it from the account balance. The payoff amount is the remaining account balance plus any unpaid fees and charges, like late charges.

There are different methods for calculating the interest refund. These include the Rule of 78s or the actuarial method. Prepaid finance charges are usually considered earned at the time of the loan, so there is no refund if the loan is paid off early. Refer to your loan agreement to see the method for calculating the refund and if you are entitled to a refund of prepaid finance charges.

Interest on a daily simple interest loan is calculated by using the daily simple interest method. This means that interest accrues on a daily basis on the amount of the loan (current outstanding principal balance) from the date the interest charges begin until you repay the loan. The daily simple interest method counts the number of days between the date your last payment is received and the date your current payment is received. To avoid paying additional interest, you should regularly and consistently make your standard monthly payment amount on or before your payment due date.

For more information, download a comprehensive review of how daily simple interest works. Included is the calculation used to determine the interest on a daily simple interest loan and various examples to illustrate how different payment patterns can affect unpaid accrued interest.