OneMain Financial is a financial institution offering same day approve personal loans for a loan amount of up to $25,000. It does not have a strict credit score requirement so people with a low credit score can easily get approved. You only need to have a minimum credit score of 600 to get approved for the loan.
They will check and see if you are employed for the past few months. If you work at an office for an employer, you can show them your paystubs as proof of employment. Self employed people is harder to get approved for the loan since they have to answer questions about tax returns.
It is harder to get approved if your income is not fixed and likely to change from month to month. Besides, you must not have any bankruptcy record, Most states will require the borrower to be at least 18 years. If you are from Alabama or Nebraska, you must be at least 19 to fill in the loan application form.
OneMain Financial rejects application from residents of certain states like Alaska, Nevada and Connecticut. Only those who already have an established credit history can get approved for the loan. They will consider your ability to repay the loan by taking into account your monthly expenses and your monthly income.
The funds from the OneMain Financial loan can be used to pay for all kinds of expenses such as education, or cover a temporary expenses in your business. If you get approved for the loan, they will issue a check of the loan amount you apply for and send it to your address. The personal loan provided by OneMain Financial is unsecured and you don’t have to provide any collateral.
The fastest way to apply for OneMain Financial personal loan is via online application. They will perform a hard inquiry which results in deducting at least 10 points from your credit score. If you get a positive response, you will be asked to visit a branch along with documentation like driver license, paystub and any proof document that contains your mailing address.
They will attempt to first verify the documents that you have brought before asking you to put down the signature on the agreement. If everything goes smoothly, they will issue you a check in 30 minutes. Normally, you can receive the loan in the same day if you apply in the afternoon. They will issue the loan to you in the following day if you did not get approved for the loan in the same day. You can refund the loan in 14 days if you change your mind about applying for the loan. In the event that you refund the loan, you won’t have to pay any interest or penalty fee.