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    Stilt Team (Edited )

    A personal loan on H-1B is difficult with banks and credit unions. They consider people on visas as high financial risk and deny them loans even if applicants have high income and a good savings rate. They may want to see a co-signer before considering you for a loan - even then, a personal loan is generally given at a higher rate because of the implied risk that this person will leave the country.

    Most visa holders don't have a U.S. cosigner and they have a limited credit history. It is important to find a loan at a reasonable rate while on a visa.

    If you are a visa holder with limited credit history, then your options for a good personal loan are limited. Most lenders would want to look at a 6+ year credit history to consider you for a personal loan. These lenders don’t consider your comprehensive profile to give you better rates.

    There are many companies like Lending Club, Prosper, AvantLendUpLoanDepot, etc. that can give you a personal loan through an online application. But their rates are generally high - e.g. average APR on Avant is 30% which is mainly targeted at people with imperfect credit.

    If you are looking for something that considers your comprehensive profile other than just credit history, take a look at our company - Stilt. We provide personal loans to people with limited credit history.

    About Stilt:

    Stilt provides loans to international students and working professionals in the U.S. at rates lower than any other lender. Visit us at https://www.stilt.co. If you have any questions, send us an email at team@stilt.co.

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