OneMain Financial vs SoFi

The short version

OneMain Financial and SoFi sit at opposite ends of the personal-loan market. OneMain is a direct installment lender with more than 1,300 branches, no published minimum credit score, and an approval approach built around your overall credit history and the income you have left after monthly expenses. SoFi is a bank-chartered lender built for larger loans, with no published minimum credit score either, but a soft-pull rate check and an optional origination fee rather than one every borrower pays.

APRs, as of September 2026, run 11.99% to 35.99% at OneMain and 6.49% to 35.49% at SoFi. OneMain’s origination fee varies by state — a flat $25 to $500 or 1% to 10% of the loan — while SoFi’s fee is optional and its cost isn’t published on the pages we checked. OneMain tops out at $30,000 over 60 months; SoFi lends up to $100,000 over as long as 84 months, but its $5,000 minimum rules it out for a smaller need that OneMain’s $1,500 floor can still cover.

Rates and fees

OneMain’s published range is 11.99% to 35.99% APR, and most loans carry an origination fee — either a flat $25 to $500 or 1% to 10% of the loan, depending on your state — deducted before the money reaches you, with no prepayment penalty. SoFi’s published range is 6.49% to 35.49% APR, with the floor rising the longer the term you choose; SoFi’s origination fee is optional rather than automatic, and some members see loan options with no fee at all while others can choose one in exchange for a lower rate. SoFi doesn’t charge late fees or a prepayment penalty either.

Take a $10,000 loan over 36 months at the midpoint of each lender’s published range to see the same math applied evenly.

OneMain, 23.99% APR (midpoint of 11.99%-35.99%), using the midpoint of its 1%-10% percentage-fee range (5.5%). OneMain’s fee varies by state and can also be a flat $25 to $500 instead of a percentage; this example uses the percentage midpoint. The fee is $550.00, so you’d receive about $9,450.00 in cash. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time: a payment of about $370.70 a month, total payments of about $13,345.20, and a total cost of roughly $3,895.20 over the $9,450.00 you actually received. These are our own amortization figures, not a lender quote.

SoFi, 20.99% APR (midpoint of 6.49%-35.49%). SoFi’s origination fee is optional and its cost isn’t published, so — matching the no-fee path SoFi’s own rate-page example uses — we’re assuming no fee here. An APR already includes the origination fee by definition, so on a loan with no fee at all, we simply amortize the full $10,000 you receive at 20.99% APR over 36 months. That comes to a payment of about $376.70 a month, $13,561.20 total paid, and a total cost of about $3,561.20 in interest. If you’re offered SoFi’s fee option instead, your cash in hand would be lower and your true cost higher than this figure shows. These are our own amortization figures, not a lender quote.

On this comparison, OneMain’s monthly payment comes out slightly lower only because you’d be repaying $9,450 of cash received rather than $10,000; SoFi’s lower midpoint APR and assumed-no-fee path produce the lower total cost — though SoFi’s actual cost depends on whether you’re offered the fee option at all.

Who qualifies

OneMain doesn’t publish a minimum credit score; it says approval depends on your overall credit history and how much income you have left after monthly expenses. Its published requirements are being at least 18 (19 in some states), showing photo ID and proof of residence, and documenting a verifiable source of income, plus an in-person or virtual verification appointment for many applicants.

SoFi doesn’t publish a minimum credit score either. It says eligibility depends on your financial history, credit score, and monthly income versus expenses among other factors. SoFi’s published requirements are being the age of majority in your state; US citizenship, eligible permanent residence, or non-permanent resident alien status, including DACA recipients and asylum seekers; being employed, having sufficient income from another source, or a job offer starting within 90 days; and living in a state where SoFi is authorized to lend. Checking your rate with either lender is a soft pull that doesn’t affect your score. On availability, OneMain doesn’t originate loans in Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont, or Washington, D.C.; SoFi doesn’t publish a list of excluded states, saying only that restrictions, a higher minimum loan amount, or a lower rate cap may apply depending on where you live.

Speed and funding

OneMain says money can be available within an hour of closing through its SpeedFunds debit card, or in one to two business days if you’re paid by check or ACH, though many applicants still need a branch visit first. SoFi calls its version Same Day Funding: most borrowers get funds the same day when the loan is approved and the agreement is signed by 5:30 p.m. Eastern on a business day, though SoFi is explicit that this target isn’t assured every time and that delays can happen.

Where each one wins

• OneMain — a $1,500 minimum loan, well below SoFi’s $5,000 floor, for a smaller need.
• OneMain — a secured loan option using a vehicle as collateral, which typically lowers the rate.
• OneMain — more than 1,300 branches for in-person support.
• SoFi — a soft-pull rate check alongside a lower APR floor (6.49% versus OneMain’s 11.99%) as of September 2026.
• SoFi — a much higher loan ceiling ($100,000 versus OneMain’s $30,000) and terms up to 84 months.

Bottom line

If you need a smaller loan, want a secured option, or would rather work with a branch in person, OneMain’s lower minimum and physical network make it the one to check first. If your credit is strong and you need a larger loan with a soft-pull rate check up front, SoFi’s higher ceiling and optional fee are worth comparing. Origination fees and prepayment penalties is worth reading before you compare offers with different fee structures. Read the full OneMain review and SoFi review, then start a loan request to see what you might actually qualify for.