![]() ![]() Formally submit an application and await approval. You'll get an estimated monthly payment and APR range.Ģ. You'll also enter your name, Social Security number, and income history. You'll also need to request a loan amount. Choose if you're applying for an individual or joint loan, a secured or unsecured loan, and your loan's purpose. Fill out personal information on OneMain's website. See our ratings methodology for personal loans » How to Apply for a OneMain Financial Personal Loanġ. Funding through LendingClub will take at least four business days, according to the lender's site, giving OneMain's same-day funding another advantage. LendingClub doesn't offer a secured loan option, which could give OneMain an advantage for anyone who wants to lower their interest rate with collateral. Avant fees could be lower, as this lender caps its origination and administrative fees at 4.75%, while OneMain's fees could go up to 10%, or $500 depending on your state. With interest rates starting higher, borrowers who qualify with LendingClub could get lower rates from Avant or OneMain.Īvant could be a stronger option than OneMain due to OneMain's higher interest rates. LendingClub's minimum 600 credit score requirement might leave some borrowers out. ![]() Additionally, a minimum credit score requirement of 580 might exclude some borrowers. ![]() OneMain Financial and Avant have similar loan terms and loan amounts, but borrowers looking for same-day funds might find that OneMain has an advantage. *While Avant does not charge an origination fee, it does charge an administration fee of up to 4.75%. In contrast, Avant's personal loans start at 9.95% APR.Ĭompare loan options and get your rates today. High starting interest rates. Interest rates for OneMain's personal loans range from 18.00% to 35.99% APR.Flat fees range from $25 to $500, while percentage-based fees range from 1% to 10% of the loan's value. OneMain charges an origination fee on loans, which can either be a flat fee or percentage-based, depending on what state you live in. You may be able to get your loan on the same day that you apply with OneMain Financial. Potential for a small loan. You can get a loan for as little as $1,500, which is lower than what many lenders offer. Most personal loan lenders require credit scores above 660 to apply, but OneMain Financial doesn't have a minimum. OneMain Financial Personal Loans Pros and Cons OneMain Financial Pros The best personal loan for you depends on your credit score, which will determine what you qualify for and can lower your rate. You may want to consider another company if you have a good credit score, because you can get lower rates elsewhere. The bottom line: OneMain Financial's personal loans are a solid option for borrowers who have low credit scores. See rates and fees for details and restrictions at. Loans made by OneMain Financial Group, LCL.Term lengths of 24, 36, 48, or 60 months.You may be able to get your loan on the same day that you apply. ![]()
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