OneMain Holdings
OneMain Financial
3.8
OneMain Financial offers secured and unsecured personal loans to borrowers with fair credit, with local branch locations providing in-person service.
The Bottom Line
OneMain Financial provides personal loans with APRs as low as 11.99% (subject to credit approval — full range 11.99% to 35.99%) following an early-2026 rate cut, plus loan amounts up to $10,000 for unsecured loans or more for secured (collateral-backed) loans. The platform welcomes borrowers with fair to poor credit and offers local branch locations. While rates are still higher than online-only competitors for prime borrowers and origination fees apply (up to 10%), OneMain's in-person service appeals to some borrowers. Best for those who prefer human interaction and local branch support.
At a Glance
| APR Range (subject to credit approval) | 11.99% - 35.99% |
| Loan Amount | $1,500 - $10,000 |
| Repayment Terms | 24 - 60 months |
| Origination Fee | Up to 10% |
| Secured Loans | Available |
| Co-Signer | Allowed |
| Locations | 1,900+ branches |
| APR Range | 11.99% - 35.99% |
| Loan Amounts | $1,500 - $10,000 |
| Term Lengths | 24 - 60 months |
| Origination Fee | Up to 10% |
| Funding Speed | 1-2 business days |
| Prepayment Penalty | No |
| Co-Signer | Allowed |
Physical Locations and Personal Service
OneMain's primary differentiator is their 1,900+ physical branch locations. In an era of online-only lending, OneMain offers in-person consultation and service. If you prefer discussing your loan options face-to-face or feel more comfortable in a physical location, OneMain provides that experience. This appeals to older borrowers or those uncomfortable with online processes.
Secured Loan Options
OneMain offers both unsecured and secured loans. Secured loans require pledging collateral (like a car title or savings account) but offer higher borrowing limits and slightly lower rates. This flexibility can be useful for borrowers with lower credit scores who want better rates, though it does carry the risk of losing collateral if you default.
Higher Costs
OneMain's rates (11.99% - 35.99% APR, with most approved borrowers falling in the 24%-30% range) and origination fees (up to 10%) make it more expensive than online competitors like Avant or Upstart for prime borrowers. A $10,000 loan could have a $1,000 origination fee plus thousands in interest. Before committing to OneMain, compare total costs with online alternatives.
Best For
OneMain is best for borrowers with fair to poor credit who value in-person service and are willing to pay higher rates for it. If you prefer talking to a loan officer in person or want a secured loan option, OneMain is worth considering. However, if you're price-sensitive, online-only lenders offer better rates despite fewer personal touches.
Ready to get started with OneMain Financial?
OneMain Financial offers secured and unsecured personal loans to borrowers with fair credit, with local branch locations providing in-person service.
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Pros
- Physical locations for in-person consultation
- Accepts fair to poor credit borrowers (typically 580+)
- Secured loan options for better rates
- Loan amounts up to $10,000 (unsecured) or more (secured)
- Quick funding (1-2 business days)
- No maximum credit score limit
Cons
- APR range 11.99% - 35.99%; most approved borrowers fall 24%-30%
- Origination fees up to 10%
- Late payment fees apply
- Higher overall costs than online competitors for prime borrowers
Frequently Asked Questions
What's the difference between secured and unsecured loans from OneMain?
Unsecured loans don't require collateral but have lower maximum amounts ($10,000) and higher rates. Secured loans require you to pledge personal property (car, savings) as collateral, allowing you to borrow larger amounts at slightly lower rates. The tradeoff is risking losing the collateral if you default.
Are there origination fees?
Yes, OneMain charges origination fees up to 10% of the loan amount. This means a $10,000 loan could have a $1,000 origination fee, reducing the net amount you receive. Always factor this into your cost comparison with other lenders.
Can I visit a local branch?
Yes, OneMain has over 1,900 physical locations nationwide. You can visit a branch to discuss your loan options, ask questions, and apply in person. This appeals to borrowers who prefer human interaction over online-only platforms.
What credit score do I need?
OneMain typically approves borrowers with credit scores around 580 and higher. Even with fair to poor credit, you may qualify, though rates will be on the higher end of their range.
Can I add a co-signer?
Yes, OneMain allows co-signers. Adding a co-signer with better credit may help you qualify or secure a slightly better rate. However, the co-signer is equally responsible for repayment.