About Us - OneMain Financial (2024)

FAQs

About Us - OneMain Financial? ›

OneMain is a lender that remains committed to providing people access to responsible credit. In 2022, we served 2.6 million customers. By providing responsible access to credit, we are helping customers make progress toward their financial goals for today and tomorrow.

We provide personal and auto loans from $1,500 to $20,000. We provide financial tools, education and resources to improve customers' financial health.

Most personal loan lenders require credit scores above 660 to apply, but OneMain Financial doesn't have a minimum. Potential for a small loan. You can get a loan for as little as $1,500, which is lower than what many lenders offer. Get your loan quickly.

OneMain makes personal and auto loans from $1,500 - $20,000. Not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance.

Our community-building initiatives support our mission to improve the financial well being of hardworking Americans.

It is not difficult to get a personal loan from OneMain Financial because you need a credit score of 600 or higher to qualify, according to third-party sources.

The costs: Although OneMain Financial has more flexible eligibility requirements than many lenders, it also has higher costs. The APR range starts at 18.00% and may include an origination fee up to 10%. While better than alternatives like payday loans, the cost is still high.

OneMain doesn't charge any prepayment penalties, so if you want to pay off your loan early, you can. You won't be penalized with a fee as you would with some lenders.

We require a first lien on the eligible vehicle which must be titled in your name, have valid insurance, and meet our valuation, also known as “loan-to-value,” requirements. Typical collateral: cars, trucks, and motorcycles, but we can consider other titled vehicles like boats, RVs, and trailers.

How much would a $7000 loan cost per month? ›

The monthly payment on a $3,000 personal loan will depend on the loan term and the interest rate. For example, the monthly payment on a two-year $3,000 loan with an annual percentage rate (APR) of 12% would be $141.22. The monthly payment on a $3,000 loan with a six-year term and an APR of 12% would be $58.65.

The monthly payment on a $4,000 loan ranges from $55 to $402, depending on the APR and how long the loan lasts. For example, if you take out a $4,000 loan for one year with an APR of 36%, your monthly payment will be $402.

OneMain in its present form is the result of Springleaf Financial's acquisition of OneMain Financial (formerly CitiFinancial) from Citigroup in November 2015, with OneMain becoming the surviving brand.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired OneMain Holdings, Inc.

Your money is still insured by the FDIC, and you can withdraw money via debit card, check or ATM.

Sometimes you change your mind. And that's okay. Which is why we give you 7 days to cancel your loan if you still have the funds — no questions asked. Just tell us you want to cancel, then return the money, within 7 calendar days from the date on your loan agreement.

If you've been served with a lawsuit from OneMain Financial, it is extremely important you do not default or ignore the summons. The collector can have wages garnished, bank accounts levied, and liens filed against your car or home.

State Licenses: OneMain Financial Group, LLC (NMLS# 1339418) - CA : Loans made or arranged pursuant to Department of Financial Protection and Innovation California Finance Lenders License. PA : Licensed by the Pennsylvania Department of Banking and Securities.

OneMain Financial has violated the Telephone Consumer Protection Act (TCPA) on multiple occasions, and there have been several class action lawsuits filed against the company.