OneMain Financial debt consolidation loan, reviewed
OneMain Financial lends $1,500 to $30,000 online or in its branches, secured or unsecured. Its rates, fees and the trade-off.
$395 to $594 a month with OneMain Financial on $15,000 over four years
$489 a month to clear the same $15,000 on 24% cards in four years
| APR range | 11.99% to 35.99% |
|---|---|
| Loan sizes | $1,500 to $30,000 |
| Terms | 24 to 60 months |
| Fee | Flat $25 to $500, or 1% to 10%, by state |
| Bank average, 24-month loans | 11.9% |
A OneMain Financial debt consolidation loan replaces several card payments with one fixed payment. It has branches and takes fair credit, but its rates start at 11.99% and a secured loan puts your car at stake.
Below are its rates, sizes and fees from its own disclosure, and who it suits.
Rates and loan sizes
OneMain lists fixed APRs from 11.99% to 35.99% on loans of $1,500 to $30,000 (OneMain Financial).
Terms run from 24 to 60 months. Its starting rate is above the 11.9% bank average (Federal Reserve G.19).
Credit score needed
OneMain publishes no score minimum. It makes both secured and unsecured offers.
A secured loan uses something you own, such as a car, as collateral. Miss payments and you can lose it.
Fees
Its origination fee is either a flat $25 to $500 or 1% to 10% of the loan, depending on your state (OneMain Financial).
How the money reaches your cards
You can apply online, by phone or in one of its more than 1,300 branches. Money can arrive as soon as 1 hour after closing.
Who the OneMain Financial debt consolidation loan fits
It fits fair credit, a balance under $30,000, and someone who wants to sit down in a branch.
It is a poor pick if you can qualify for an unsecured loan under 11.99%.
Complaints about OneMain Financial are public in the CFPB database: 2,365 personal loan complaints under OneMain.
Other choices
Put a OneMain Financial offer next to two others before you sign. The best loans page lists all 16 lenders with their fees.
Run the offer through the debt consolidation calculator to see the payment next to what your cards cost.Compare OneMain Financial with
Lender APR Loan sizes Fee 
PenFed6.39% to 17.99% Up to $50,000 No origination fee 
LightStream9.99% to 23.94% with autopay $5,000 to $100,000 No origination fee 
Discover6.99% to 24.99% $2,500 to $40,000 No origination fee 
Wells Fargo6.74% to 26.74% $3,000 to $100,000 No origination fee 
SoFi6.99% to 35.49% $5,000 to $100,000 Optional fee of 0% to 7% 
LendingClub5.96% to 35.99% $1,000 to $75,000 Origination fee of 0% to 8% 
Reach Financial5.99% to 35.99% $3,500 to $40,000 Origination fee of 0% to 8% 
Achieve6.25% to 35.99% $5,000 to $50,000 Origination fee of 1.99% to 9.99% 
Upstart6.3% to 35.99% $1,000 to $75,000 Origination fee, 8.15% in Upstart’s own example loan 
Best Egg6.99% to 35.99% $2,000 to $50,000 Origination fee up to 9.99% 
Upgrade7.74% to 35.99% $1,000 to $50,000 Origination fee of 1.85% to 9.99% 
Happy Money8.95% to 35.99% $5,000 to $50,000 Origination fee set by amount, term and credit 
Prosper8.99% to 35.99% $2,000 to $50,000 Origination fee of 1% to 9.99% 
Avant9.95% to 35.99% $2,000 to $35,000 Administration fee up to 9.99% 
Universal Credit11.69% to 35.99% $1,000 to $50,000 Origination fee of 5.25% to 9.99%
Related topics
- Personal loan for debt consolidation
- Wells Fargo
- Payday loan consolidation
- Debt consolidation loan calculator
About this lender
What are OneMain Financial’s rates?
Fixed APRs from 11.99% to 35.99%.
Does OneMain require collateral?
Not always. It makes secured and unsecured offers; a secured loan puts the collateral at risk.
Does OneMain have branches?
Yes, more than 1,300, and you can also apply online or by phone.
Check your OneMain Financial offer today
You hold a OneMain Financial offer, or you are about to apply. The fee and the term change what it really costs. Call and a specialist goes through the offer line by line against your cards.