OneMain Financial does not disclose a lot of the information regarding borrower requirements. However, the lender has informed that it focuses on the applicant’s ability to repay the loan. That means meeting the monthly payments of regular every-day bills and debts, as well as being able to afford the loan. Applicants with thin or no credit history will have a hard time getting approved for OneMain Financial loans. In order to facilitate your approval, make sure you have a credit bureau file. Also, applicants must be able to provide a government-issued ID, proof of residence and proof of income.

OneMain Financial Personal Loans come in a few different forms, and some of them affect the likelihood of you being approved, as well as the rates you will have to pay on the loan. The first type of loan is an unsecured loan, where you do not need to deposit funds to secure your loan. You may also opt for a second type of loan, which is a secured loan where you add collateral (usually your vehicle) to secure your loan. The last type is a joint loan, where you can apply for a loan with a co-borrower (but not a co-signer).