Get $20,000 Instant Loan with Bad Credit | One Main Financial Personal Loan Review 2022

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OneMain Financial Overview

One Main Financial offers personal loans from $1,500 to $20,000 with a very low credit score. In fact, at One Main Financial, you don’t need any kind of credit score to qualify. According to reviews based on the internet One Main Financial sees whether the borrower is able to repay the loan amount within the given time. 

If you are able to pay the loan then they will approve you for the loan, So please read the article to understand what is the OneMain Financial criteria for qualification for their loans. 


  • Loan amount starting from $1,500 – $20,000
  • There is no credit score requirement by OneMain Financial.
  • At OneMain Financial Co-signers are accepted.
  • At OneMain Financial Borrowers can get prequalified with a soft credit check.{alertSuccess}

  • OneMain Financial do Charges a originaiton fees.
  • High APR than Average ( 18% to 35.99% ). {alertError}

OneMain Financial Personal Loan

OneMain Financial is an online lender that offers personal loans in nearly 44 states in the united states. The states which can not apply for the OneMain Financial Personal loans are AK, AR, CT, MA, RI, and VT. 
OneMain Financial offers personal loans from $1,500 to $20,000 with an APR from 18% to 35.99% with a repayment term of 24 – 60 months.

Annual Interest Rate (APR) and Fees

The Interest Rate of OneMain Financial is very high compared to other lenders in the market. The APR of OneMain Financial is from 18% to 35.99%. The reason OneMain Financial has a high APR is that they also approved loans of people with bad credit.

Minimum Credit Score Required

According to OneMain Financial, there are no such criteria of credit score requirement. They look for different factors for approving your loan. So there is no requirement of an ideal credit score.

If you have a good credit score then the chances of you getting a low APR is high and if you have a bad credit score then you’ll get a high APR. 

If you have a good credit score then you should not apply for this lender as there are other lenders in the market who will likely give you a personal loan with a very low APR. 

What is the qualifying factor of OneMain Financial loans?

OneMain Financial focuses on applicants’ ability to meet their monthly financial obligations — including mortgage or rent payments and other debt payments — and still, afford the loan.

Offered Loan Amount

OneMain Financial Offers you a personal loan amount between $1,500 to $20,000. They offer less amount than other lenders in the market. But the chances of getting approval from here are more than other lenders because of high APR and  Low credit score requirements.

Eligibility Criteria 

There are some basic requirements you should fulfill before taking a bad credit loan. Here is the list :
  1. You should be at least 18 years old
  2. You must a valid ID Proof or social Security number
  3. You must be a United States citizen or a permanent resident
  4. You Should have a post-tax  income of more than $1,000 
  5. You must have a valid active us bank checking account
  6. You have to provide a valid email address and a phone number

Required Documents

  • Valid Identity Proof.
  • Have to provide a DOB.
  • Valid current mobile number and Email id.
  • An active American bank account.
  •  A social security number

Repayments Terms

The repayment term is 2 to 5 years according to OneMain Financials. There is no pre-payment penalty

Example of the OneMain Financial loan

For example,  If you get a three-year, $10,000 loan with an APR of 25.3% would have a monthly payment of $399. A borrower would pay $4,371 in total interest on that loan.

How to apply for OneMain Financial

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  • Just go to the website of OneMain Financial. After you’ll be asked to enter the amount you want as a personal loan and you have to specify the reason for the loan.
  • Then you will be redirected to a page where you have to fill out an application form with all your personal details and employer details, every detail with regards to a loan. 
  • Then a soft credit check will be performed on your credit score which will not affect your credit score at all. 
  • After you qualify for the loan then you will be represented with a loan agreement where the APR, and payback period will be given there along with your loan amount. 
  • Please read all the documents carefully before you apply for this loan. 


One Main Financial personal loans are best for people who have a very bad credit score and they are not getting the loan anywhere else. These people can try to get a loan from one main financial. The people who need a cosigner can also get approval from this lender. The people who want to get their loan from visiting a branch by person, for then also this loan lender is best. 

Editorial Note:  MakeHelpOf does not receive any commission from any website or third-party advertisers. This is just a review article based on consumers’ experiences from the internet. It’s accurate to the best of our knowledge when it’s posted. Please read all the information carefully before you make any decision. {alertInfo}