OneMain Financial offers unsecured and secured personal loans that can be used for a variety of purposes, including debt consolidation, home repairs, travel expenses, and unexpected bills. How to register for the OneMain Financial personal loans?

OneMain Financial personal loans
OneMain Financial personal loans can be used for a variety of purposes

In the previous post, Info Credit Free introduces people to some of the necessary information that is useful for getting Upstart personal loans in the US, to get more information people can read the article Four STEPS to get the Upstart personal loans easily. Now, let find knowledge about the OneMain Financial personal loans in the post today.

ONEMAIN FINANCIAL PERSONAL LOANS

Just like a lot of article posts such as how to get LendingPoint personal loans, Best Egg personal loans, instant approval credit cards, small loans for bad credit…, this post about the OneMain Financial personal loans also includes some main parts. They are:

1. Some types of loans that OneMain Financial offer?

OneMain Financial offers unsecured and secured personal loans that can be used for a variety of purposes, including debt consolidation, home repairs, travel expenses, and unexpected bills. It works with an unexpected approach. Your interest, payment and loan term will be fixed.

A loan decision is made after OneMain Financial reviews your application. Accept or reject based on financial situation, credit score and ability to repay the loan. Depending on your residence status, you may be able to borrow from $ 1,500 to $ 30,000. Higher loan amounts may be available to highly qualified applicants who can provide collateral.

Some states have a minimum loan limit. California residents must borrow at least $ 3,000. If you are a resident of Georgia and not a current customer, you must borrow at least $ 3,100.

To apply for a personal loan at OneMain Financial, you will need to meet the following requirements:

  • Credit history is established
  • US citizen or permanent resident
  • Meet your state’s minimum age requirements

You can register by visiting the OneMain Financial branch or filling out an online application. Either way, be prepared to provide some important information:

  • The full name and contact information
  • Proof of government-issued, such as a driver’s license or passport
  • Your social security number and date of birth
  • Loan amount and what you intend to use it for
  • Your employment status and income

2. Some benefits and drawback of OneMain Financial personal loans

2.1. Some benefits 

  • Quick turnaround. If approved before noon on a business day, you can receive your money on the same day. OneMain’s loan specialist can provide additional information about funding options and fund availability.
  • Guaranteed loans available. You have the option to register a loan secured by collateral, this may lead to larger loan amounts.
  • Poor credit candidates consider. If you have a poor credit score, you can still apply for a loan. OneMain Financial currently has no minimum credit score requirements.
  • Satisfaction guarantee for seven days. If you change your mind about a loan with OneMain Financial, you have seven days to cancel. Return all loan amounts and sign a cancellation agreement within seven calendar days of the loan date.
  • Many branches. OneMain Financial has nearly 1,700 branch locations in 44 states.
OneMain Financial personal loans
OneMain Financial personal loans can be used for a variety of purposes

2.2. Some drawbacks

  • Limit the purpose of lending. Like many lenders, OneMain Financial does not allow its loans to be used for post-secondary education or business-related expenses.
  • Hard penalties for late payments. If you miss or pay the loan slowly, you can pay a high late fee. If you continue to miss payments and default on secured loans, you risk losing collateral.
    State availability. OneMain Financial does not operate in the following states: Alaska, Arkansas,
  • Connecticut, Massachusetts, Rhode Island, Vermont, and Washington D.C. If you live in one of those states, you will have to find another place to borrow money.
  • Must complete the process at a branch. If you are looking for a completely online loan, you will want to choose another lender. Even when you register online, OneMain Financial requires borrowers to visit the branch to receive funding.
  • Full insurance coverage required for collateral. If you borrow a secured loan, OneMain Financial requires you to have full insurance on the vehicle you use as collateral.

3. Some information about the interest and fees of the OneMain Financial personal loans

Loan amounts $1,500 – $30,000
Typical APR 16.05% – 35.99%; 9.99% minimum for secured loans
Fees Origination fee: Varies by state

Prepayment fee: None

Time to funding Same day
Repayments 2 to 5 years
Soft credit check? Yes
How to qualify
  • Minimum credit score: None; the average is 600 to 650.
  • Minimum credit history: Not provided.
  • Minimum annual income: None; average is $49,000.
  • Debt-to-income ratio: Not provided.
Best for Borrowers with bad credit, fast cash

This post is about OneMain Financial personal loans. We provide this information to offer you some of the necessary information that is useful for getting the OneMain Financial personal loans. Also if you are looking for information about the personal loans from Avant, please refer to Somethings you should know about the Avant personal loans link we just provided in the previous article. 

Hillary (Team Content) – Info Credit Free