offers loan options that are a little more flexible compared to other lenders. Repayment terms run between 24 months and 60 months and OneMain Financial also allows borrowers the option to secure the loan with collateral in order to potentially receive an interest rate on the lower end of the lender’s range. Plus, borrowers can actually choose the date their monthly payments are due and have the option to apply with a co-applicant.
And on top of all that, there is a little more flexibility when it comes to how much you can borrow — you can apply for as little as $1,500 and as much as $20,000. This makes OneMain Financial seem like an attractive option for people who need to borrow smaller amounts of money.
The origination fee is on the higher end: either a fixed fee between $25 and $500 or up to 10% of the loan amount, depending on which state you live in. And while there aren’t any penalties for paying off the loan early, there is a late fee that will run you $30 or up to 15% (depending on your state).