Frequently Asked Questions

General

What is iLoan?

iLoan is an online lending company that offers personal loans from $2,550 to $25,000*. Our goal is to create a simple, convenient and personalized customer experience. We use third party data and proprietary analytics to review loan applications and provide approved applicants with online loans. iLoan launched in 2015 and is part of the OneMain Financial family.

*Loan approval and actual loan terms depend on your ability to meet our standard credit criteria (including credit history, income and debts) and the availability of collateral. Loan amounts subject to state specific minimum or maximum size restrictions. Collateral offered must meet our criteria. Active duty military, their spouse or dependents covered by the Military Lending Act may not pledge any vehicle as collateral. CA minimum loan amount is $3,000. CA: Loans made pursuant to a California Department of Business Oversight Finance Lenders License.

What type of loans does iLoan offer?

iLoan offers unsecured and secured personal loans in all states of operation. Secured loans require an automobile as collateral whereas unsecured does not. Securing your loan with an automobile may increase your likelihood of approval.

What if I need to provide collateral?

All collateral will undergo appraisals to determine whether it is of sufficient value. Additionally, automobiles used as collateral must be insured against physical damage for the term of the loan. Active duty military, their spouse and all dependents covered by the Military Lending Act may not pledge any vehicle as collateral.

Can I add a co-applicant (also called a co-borrower) to improve my chances of being approved or get a better rate?

We currently accept co-applicants in all states of operation except Illinois. Applying with a co-applicant that has stable income and good credit may increase your likelihood of approval. You both will complete a loan application together, and we'll review information from both of you.

What states does iLoan operate?

iLoan currently operates in:
  • Alabama
  • California
  • Delaware
  • Georgia
  • Idaho
  • Illinois
  • Missouri
  • Nevada
  • New Mexico
  • Oregon
  • South Carolina
  • Utah
  • Wisconsin

How much money can I borrow?

Minimum and maximum loan amounts vary by state, and our loans range from $2,550 to $25,000*.

*Loan approval and actual loan terms depend on your ability to meet our standard credit criteria (including credit history, income and debts) and the availability of collateral. Loan amounts subject to state specific minimum or maximum size restrictions. Collateral offered must meet our criteria. Active duty military, their spouse or dependents covered by the Military Lending Act may not pledge any vehicle as collateral. CA minimum loan amount is $3,000. CA: Loans made pursuant to a California Department of Business Oversight Finance Lenders License.

Who is OneMain Financial?

OneMain Financial (NYSE: OMF) is America’s premier responsible personal loan company. For over 100 years, the company has been providing personalized, best-in-class service at nearly 1,700 branches in 44 states. iLoan is the company’s internet lending division that provides customers the opportunity to complete the loan process entirely online. OneMain Financial has more than 10,000 team members who proudly support the communities in which they live and work. Please visit OneMainFinancial.com to learn more.

How do I contact iLoan?

You can reach our customer service team via phone or mail. Please visit our contact page for hours and contact details.

Rates and Fees

What is APR?

Annual Percentage Rate (APR) is the cost of credit, as an annual rate, that takes into consideration interest and prepaid finance charges over the term of the loan. It is a single percentage number made up of several factors including interest, fees and additional costs incurred with closing the transaction (in the case of iLoan, origination fee). The APR is usually higher than the interest rate of a loan.

What Annual Percentage Rate (APR) does iLoan offer?

iLoan APRs vary by state and range from 17.60%–35.99%, with actual APR depending on the evaluation of the applicant under our standard credit criteria (including credit history, income and debts) and the availability of collateral.

What factors impact my rates?

Your interest rates are impacted by factors such as your creditworthiness, length of your repayment term, the laws of the state in which you live and other factors.

Can I refinance my loan?

We do not currently offer refinancing of your iLoan personal loan.

Do you charge an origination or administration fee?

Yes, iLoan may charge an origination fee on all loans that are funded as permitted by state law. The amount may vary from state-to-state and will be clearly stated in your loan agreement.

Do you charge a late fee if I miss a payment?

Yes, iLoan may charge a late fee on missed payments as permitted by state law. The late fee charged may vary in form depending on your state’s laws. The loan’s late fee will be clearly stated in your loan agreement.

Does iLoan charge a prepayment fee if I pay off my loan early?

No, iLoan does not charge a prepayment fee if you choose to pay off your loan early.

Application and Funding

What do I need in order to apply?

Applicants will need proof of identity, proof of income, proof of residence, and their checking account and routing number.

What is the Identity Verification step in the application?

Identity Verification is a process that helps us protect and verify your identity. You will be presented with a series of questions that can be answered only with your knowledge.

What is Instant Income Verification?

Instant Income Verification is a free, optional service that allows iLoan to securely access a summary of your bank account in order to help us verify your income. This is an alternative to providing copies of your pay stubs or W2 tax form to verify your income and may result in a faster processing time.

Why don’t I see my financial institution when I choose Instant Income Verification?

If you don’t see your financial institution listed when you select Instant Income Verification, double check that you’re searching for the correct name by looking at the name listed on your provider’s online login site.

If you still don’t see your provider on the list, we do not currently support your provider. In this case, please choose Manual Verification and proceed to upload your documents directly to your online account.

How do you keep my information secure?

We use 128-bit SSL encryption to help protect your personal information.

How do I check the status of my loan application?

You can check the status of your loan application by logging in to your iLoan Account Home .

How long will it take to receive a decision on my loan application?

A loan decision normally takes anywhere from a few minutes to an hour from the time we receive all your application information and documents during normal business hours. It may take longer due to your specific circumstance or our current application volume.

How quickly can I get money into my bank account if approved?

Funds are deposited through Automated Clearing House (ACH) as quickly as the next business day if the application is approved, all information provided is verified and all parties have signed the loan agreement by 4 pm CT Monday-Friday.

Can I increase my loan amount?

No, once you’ve signed your loan agreement you cannot increase your loan amount.

Can I get another loan from iLoan if I already have a loan from iLoan or OneMain Financial?

You must pay off your existing loan before you are able to apply for another loan.

How long do I have to wait to reapply for a personal loan?

You must wait up to 10 days from your last payoff date before you can apply for a new personal loan, depending on which state you live in.

Why was my application declined?

An application may be declined for many reasons. You will receive a Notice of Adverse Action message within 3 days from your application decision. Please refer to this message for additional details on your application decline. You can access your messages under the Message Center tab of your iLoan Account Home.

How do I verify my email address?

To verify your email address, click on the link in the email you received asking to verify your email address. If you did not receive an email asking to verify your email address or you mistyped your email address, give us a call at 1-800-675-0200.

Satisfaction Commitment

What if I am not satisfied with my loan?

iLoan cares about our customers. To ensure we deliver that promise, we offer a 7-Day Satisfaction Commitment. If you change your mind about your loan with us, you have 7 days to cancel. Just call us and return all loan proceeds within 7 calendar days after the date of the loan agreement.

All loan funds paid at closing to customer or paid on customer’s behalf must be returned to iLoan by ACH within 7 calendar days after the date of the loan agreement. Please refer to your loan agreement for more information.

Contact iLoan at 1-800-675-0200 if you have any questions regarding the Satisfaction Commitment.

Credit Scores

How do I get a copy of my credit report?

You can request a free copy of your credit report from the major credit bureaus (Equifax, Experian, and TransUnion) once every 12 months. Please refer to FTC’s website for more information.

Will applying for a loan impact my credit score?

Yes. When you apply for a loan, you will receive a hard inquiry on your credit report. This may negatively affect your credit score; although the impact is typically minimal for one credit inquiry. Learn more about credit scores.

Do I need to earn a minimum income in order to be approved for a loan?

We do not have a minimum income requirement; however, we do require that applicants have sufficient income to repay their loan obligation and all other credit expenses, as well as have enough left over to cover their living expenses.

Can I get approved with a bankruptcy on my credit?

A bankruptcy on your credit report does not necessarily prevent you from getting a personal loan with iLoan. A prior bankruptcy will be considered, but we also look at multiple creditworthiness factors.

Repayments

How often can I make payments?

You can set up payments through your iLoan Account Home, call 1-800-675-0200, or mail in payments as often as you’d like.

How do I request a payoff amount for my loan?

You should call 1-800-675-0200 to get a payoff amount for the date you’d like to pay off the loan.

What options do I have to make my monthly payments?

We currently accept payments via:
  • Auto Pay with Automated Clearing House (ACH), the most preferred payment method
  • Individual electronic ACH payments
  • Check
  • Money order

How do I set up Auto Pay?

You can set up Auto Pay online from your Account Home or by calling us at 1-800-291-8560.

How do I set up an individual ACH payment?

You can set up an ACH payment online from your Account Home or by calling us at 1-800-291-8560.

I want to mail in my monthly payment. What address should I send it to?

All mailed payments should be sent to the below address. Be sure to include your Account Number in the memo of your check.
iLoan
PO Box 1090
Evansville, IN 47706-1090

What should I do if I can’t make my upcoming payment?

We understand that things may come up that will prohibit you from making your payment, and we will do our best to work with your situation. Call us at 1-800-291-8560.

What happens if I miss a payment?

If you miss a payment, please call 1-800-291-8560 to discuss your options with one of our loan specialists.

I cannot afford my monthly payment. Can I lower it?

We need to evaluate your unique situation to determine if you qualify for lower monthly payments. Please call 1-800-291-8560 to discuss your options.

Can I pay off my loan early?

Yes, you can pay off your loan at any time prior to the due date, and you will not be charged a prepayment fee.

Can I change my monthly payment date?

It is not currently possible to change your monthly payment date.

My Account Dashboard

How do I reset my password?

If you have forgotten the password for your iLoan account:
  1. Go to the Sign In page on iLoan.com.
  2. Click the Forgot Password link.
  3. Enter your email address.
  4. You will receive an email from iLoan with further instructions for resetting your password.
If you know your password but want to change it:
  1. Sign in to your iLoan.com account.
  2. From your iLoan Account Home, choose the Account Information tab.
  3. Go to the Change Password section and enter your current password and new password.
  4. Select CHANGE PASSWORD.

Can I make a payment from my Account Home?

Yes, you can. Once logged in to your iLoan.com account, refer to the Make a Payment section on your Account Home page to schedule an online payment or enroll in Auto Pay.

How do I upload a document from my account home?

To upload a document:
  1. Sign in to your iLoan.com account.
  2. From your iLoan Account Home, choose the Documents tab.
  3. Select the ADD ADDITIONAL DOCUMENT button and follow the upload instructions.

It won’t let me change my details on the Account Home. How do I do this?

In order to change your account details, please call us at 1-800-675-0200.

I think someone accessed my account without authorization. What should I do?

If you suspect that an unauthorized person has accessed your account, please call us immediately at 1-800-675-0200 (toll-free). You should also change your iLoan.com password immediately.