A personal loan is one way to take care of the range of expenses life can bring your way - from debt consolidation to vacations to medical costs. A personal loan from OneMain offers fixed rates and fixed payments. The rate you qualify for depends on various factors including credit history, income and other financial obligations. Need more details? Find out how OneMain loans work.
The whole loan process was very quick and easy. No hassles at all. I needed money quickly for home repairs that needed to be completed quickly and they were there. *
From the moment I walked in the door I was treated with such hospitality and kindness. I have never had such a great experience getting a loan! It was painless and done very quickly. I would use them again in the future. *
* These customer testimonials reflect individuals’ personal experiences, so you may not have the same results. The testimonials were submitted for Springleaf, which has changed its name to OneMain.
Personal loans can either be secured or unsecured:
A secured loan requires collateral as part of the loan terms. Collateral is a personal asset pledged by the borrower such as a car or other valuable property. The value of the collateral may influence the loan terms offered.
Unsecured personal loans do not require collateral from the borrower. These loans typically bring a higher risk to the lender, and as a result, the interest rates are traditionally higher than secured loans.
Borrowers should also be aware that without collateral, some lenders may place higher emphasis on credit score and income to approve a loan. Lenders may also request collateral after an application is submitted in order to approve a loan.
To learn more, please read our blog: What's the Difference Between a Secured and Unsecured Loan?
Personal loans are different from credit cards in several ways:
To learn more, please read our blog: Personal Loans vs. Credit Cards - A Closer Look
Looking for more information? Check out our FAQs.
OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university, or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal activities
†Loan approval and actual loan terms depend on your ability to meet our standard credit criteria (including credit history, income and debts) and the availability of collateral. Loan amount is also subject to state specific maximum or minimum size restrictions. APR’s are generally higher for loans not secured by a vehicle.
Some vehicles may not be used as collateral, including those used commercially or with branded titles (such as salvage). Additional loan size limits may apply to loans secured by discontinued vehicle models. We may refuse your collateral offered if it does not meet our criteria.
Active duty military, their spouse or dependents covered by the Military Lending Act (“MLA”) may not pledge any vehicle as collateral.
CA: OneMain Financial Group, LLC and OneMain Financial Services, Inc. and OneMain Consumer Loan, Inc. – Loans made or arranged pursuant to Department of Business Oversight California Finance Lenders License. NH: OneMain Financial Group, LLC - NMLS # 1339418 and OneMain Consumer Loan, Inc. - NMLS # 937358. PA: OneMain Financial Group, LLC and OneMain Financial of Pennsylvania, Inc. and OneMain Consumer Loan, Inc. – Licensed by the Pennsylvania Department of Banking and Securities. RI: OneMain Consumer Loan, Inc., Rhode Island Licensed Lender and Licensed Small Loan Lender.
For residents of the State of Washington only: OneMain Financial Group, LLC - Consumer Loan Company License - NMLS # 1339418, OneMain Financial of Washington, Inc. - Consumer Loan Company License - NMLS # 36167, OneMain Consumer Loan, Inc. - Consumer Loan Company License - NMLS # 937358 and OneMain Financial Services, Inc. - Consumer Loan Company License - NMLS # 1056. Click here for the NMLS Consumer Access Database.