Is OneMain Financial a direct lender for personal loans?

To apply for a OneMain Financial personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for a OneMain Financial Personal Loan

1. … read full answerCheck for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for a OneMain Financial personal loan. It doesn't hurt your credit. You can check for pre-qualification on the OneMain Financial website or WalletHub's pre-qualification tool.
2. Enter your personal information on the application. OneMain Financial requires the following personal information on the application: your full name, home address, email address, phone number, date of birth and Social Security number.
3. Enter your financial information on the application. OneMain Financial requires the following financial information on the application: your monthly net income and source of income.
4. Double check the application for accuracy. To ensure that your OneMain Financial personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
5. Submit your application. OneMain Financial will typically provide a decision on your application within 1 to 14 business days.

If you are approved for a OneMain Financial personal loan, you will generally receive the funds within 1 to 3 business days after approval. After that, it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.

Yes, OneMain Financial does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

OneMain Financial's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.

It's worth noting that some people may be uncertain about whether OneMain Financial does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.

If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include Opploans, Integra Credit and NetCredit.

It is not very difficult to get a personal loan from OneMain Financial because they offer personal loans for people with credit scores as low as 600-650+. Other OneMain Financial personal loan requirements include being at least 18 years old, having an SSN, and having enough income to afford monthly loan payments.… read full answer

OneMain Financial Personal Loan Requirements

• Minimum Credit Score: 600-650+ credit score
• Age: 18+ years old
• Residency: U.S. citizen, permanent resident, or visa holder
• Identification Type: SSN or passport

Once you make sure you've met all the requirements for a OneMain Financial personal loan, you should have a good chance of approval. However, the exact interest rate you receive will depend on factors such as your credit score, income, and debt.

You can use WalletHub's free pre-qualification tool to see if you're likely to get approved and what rates you could get. Plus, it won't hurt your credit.