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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

OneMain Financial's pay off


Repayment of loan

OneMain Financial offers various ways to pay off your loan. You can proceed with your payback through ACH, online, in a branch, by mailing your check, OneMain Mobile App, or participating retailers. Online repayment can be one-time or by recurring payments through Direct Pay.

Conditions of Loan Extension

You can extend your loan payment by contacting your local OneMain branch to help you with the procedure. OneMain Financial has a late payment policy with a 7 to 15 days grace period. You may also change your due date and ask for a loan delay to stop repayments without penalties, but it will result in a lower credit score.

Early Payoff

Paying off your personal loans early will not incur you a prepayment penalty. You can make a one-time payment for the remaining sum to pay off your loan early or make a one-time payment to your regular monthly payment.


How do I make a payment on OneMain Financial?

OneMain Financial makes it easy to pay off your loan. You can make monthly payments on your loan via the internet, in your local branch, by phone, through the mail, or using the OneMain Mobile App with your registered account. Direct Pay is another option for making one-time or recurring payments.

What happens if you don't pay back OneMain Financial?

If you don’t fulfill your obligation to pay back your loan, it will usually result in a bad credit score, and you won't qualify for the best loan options in the future. If you continue to neglect your obligations over a long time, OneMain Financial can file a lawsuit for a breach of contract and may require you to pay off using your salary.

Is there a penalty for paying off the OneMain Financial loan early?

You can pay off your personal loan early at any time, and OneMain Financial will not charge you a prepayment fee.

Can OneMain Financial sue you?

Yes, OneMain Financial can hire a lawyer to sue you for breach of contract. Please do not disregard the case; you may have grounds. If you default, the institution may take your salary or even take you to court.

Financial products

OneMain Financial
Personal loan
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™

Effective interest rate on the product

up to 35.99%

Loan term for the financial product

24-60 months

Calculate loan payments in OneMain Financial

OneMain Financial calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

Enter the desired loan amount

1500 $
20000 $
Loan term

Specify the loan term for the calculation


What to focus on before applying for a loan with OneMain Financial

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between OneMain Financial and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All OneMain Financial’s reviews by September 2022
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