Best Personal Loans For Non-U.S. Citizens Of 2024

Compare Personal Loan Rates

Best Personal Loans for Non-U.S. Citizens

Best Overall Personal Loan

SoFi®

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

650

APR range

8.99% to 29.99%

with autopay

Loan amounts

$5,000 to $100,000

Compare Rates

Via Credible.com’s Website

650

8.99% to 29.99%

with autopay

$5,000 to $100,000

Editor’s Take

SoFi is an online lending platform that offers unsecured fixed-rate personal loans in every state. Founded in 2011, SoFi has extended over $50 billion in loans and stands out for allowing high loan amounts and its availability of extended loan terms.

Loans are available from  $5,000 to $100,000, making SoFi a great option for those with excellent credit who need to borrow a large amount of money. Loan amounts available may vary by the state you live in. Repayment terms range from two to seven years, making SoFi an incredibly flexible option for those with sufficient credit (minimum 650) and annual income (at least $45,000). SoFi also lets prospective borrowers submit joint applications—although co-signers are not permitted.

Approved borrowers are rewarded with comparatively low APRs. What’s more, SoFi doesn’t charge origination fees, late fees or prepayment penalties—a stand-out feature because personal loan lenders often charge origination or late payment fees at a minimum.

However, if you’re considering a debt consolidating loan from SoFi, keep in mind that the lender does not offer direct payment to a borrower’s other creditors. This means the loan proceeds will be deposited to your bank account and you’ll have to pay off your other lenders individually. The platform does offer customers a number of other perks and discounts.

Pros & Cons

• Prequalification with a soft credit check
• Funding as quickly as the same day of loan approval
• Offers direct payments to third-party creditors for debt consolidation

• High credit score requirement
• High minimum loan amount

Details

Eligibility:

• Minimum credit score required. 650
• Minimum annual income. $45,000
• Co-borrowers. Permitted
• Co-signers. Not permitted

Best for Fast Funding & Below-Average Credit

LendingPoint

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

600

APR range

7.99% to 35.99%

with autopay

Loan amounts

$2,000 to $36,500

Compare Rates

Via Fiona.com’s Website

600

7.99% to 35.99%

with autopay

$2,000 to $36,500

Editor’s Take

LendingPoint is an online lender based in Atlanta that offers personal loans to prospective borrowers in 48 states and Washington D.C.; it does not offer loans in Nevada and West Virginia. Prospective borrowers in eligible states can apply online and benefit from quick funding.

LendingPoint personal loans range from $2,000 to $36,500; Georgia loans have a minimum loan amount of $3,500. Repayment terms range from 24 to 72 months—or two to six years.

There are two main disadvantages to LendingPoint: high maximum APRs and origination fees. While you can typically avoid high APRs by maintaining a high credit score, LendingPoint origination fees (up to 10%) depend on the state you live in.

Pros & Cons

• Quick funding
• Low credit score requirements
• No prepayment penalty

• Origination fee up to 10%
• Co-signers or joint loans not permitted
• Not available in Nevada and West Virginia

Details

Eligibility: 

• Minimum credit score. 600
• Minimum annual income. $35,000
• Co-signers. Not permitted

Best for Bad Credit

Upgrade

3.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

580

APR range

8.49% to 35.99%

Loan amounts

$1,000 to $50,000

580

8.49% to 35.99%

$1,000 to $50,000

Editor’s Take

Upgrade was launched in 2017 and provides accessible online and mobile credit and banking services. Since that time, the platform has made more than $3 billion in credit available to over 10 million applicants and continues to expand its online and mobile services. Although maximum APRs are on the high end compared to other online lenders, Upgrade makes loans available to those with poor credit history.

Loans amounts, which range from $1,000 to $50,000. Upgrade has two- to seven-year terms  available. Upgrade charges an origination fee between 1.85% and 9.99% of the loan, and borrowers will encounter a $10 fee if their payment is more than 15 days late or if the payment does not go through; there are no discounts for autopay. That said, Upgrade borrowers are not subject to a prepayment penalty, so you can reduce the overall cost of the loan if you’re able to pay it off early.

Beyond offering accessible personal loans, Upgrade streamlines the lending process with a mobile app that lets borrowers view their balance, make payments and update personal information. Upgrade’s Credit Heath tool also makes it easy to track your credit score over the life of your loan.

Pros & Cons

• Low minimum credit score requirement
• Offers direct lender payoff for debt consolidation loans
• No income requirement

• High APR range
• Charges fees for late payments and insufficient funds
• Charges origination fees from 1.85% and 9.99%

Details

Eligibility: 

• Minimum credit score. 580
• Minimum income. None
• Co-applicants. Permitted

Best for Comparing Multiple Offers

Universal Credit

3.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

580

Compare Rates

Via Credible.com’s Website

580

Editor’s Take

Universal Credit is an online lending platform that offers personal loans between $1,000 to $50,000 through its partners. Repayment terms range from three to seven years.

While Universal Credit makes finding a personal loan accessible even to those with damaged credit, it comes with a few tradeoffs. First, it charges high APRs, well above the most competitive rates seen on our list. Second, Universal Credit charges a 5.25% to 9.99% origination fee on all personal loans. Because this is deducted from your loan proceeds, you’ll need to factor this in when determining your loan amount to ensure you receive the necessary amount after the fact.

Pros & Cons

• Flexible qualification requirements
• Next-day funding
• No prepayment penalty

• High APRs
• All personal loans charge a 5.25% to 9.99% origination fee

Details

Eligibility:

• Minimum credit score: 580
• Minimum income requirement: Does not disclose
• Doesn’t allow co-signers or co-borrowers

Loan uses:

• Debt consolidation
• Large expense
• Home project

Best for Loans as Low as $1,000

Upstart

3.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

300

APR range

7.80% to 35.99%

Loan amounts

$1,000 to $50,000

Compare Rates

Via Credible.com’s Website

300

7.80% to 35.99%

$1,000 to $50,000

Editor’s Take

Upstart has made a mark on the personal loan space because of its artificial intelligence- and machine learning-based approach to borrower qualification. In fact, Upstart estimates that it has been able to approve 27% more borrowers than possible under a traditional lending model. With competitive APRs, Upstart is not a top lender for borrowers who can qualify for more competitive rates. Even so, the platform’s minimum 300 credit score makes it an accessible option to those with fair credit.

Upstart also offers a pretty flexible range of loan options, with amounts ranging from $1,000 to $50,000 so you don’t have to borrow (or pay interest on) more than you really need. And, while Upstart’s loan cap is lower than some lenders—this is likely to be enough for many prospective borrowers.

Even though Upstarts three- or five-year loan terms are more restrictive than other lenders, it’s likely to be an acceptable tradeoff for applicants who might not be approved in a more traditional lending environment. Plus, it’s available in every state except West Virginia and Iowa, so it’s as widely available as many other top lenders.

Pros & Cons

• Accessible to borrowers with no credit history
• Prequalification with a soft credit check
• Ability to choose a custom payment date

• Charges an origination fee up to 12% of the loan amount
• No co-signer option
• Only offers three- or five-year terms

Details

Eligibility: 

• Minimum credit score. 300
• Minimum income. No minimum but must have a source of income
• Co-signers. Not permitted
• Co-borrowers. Not permitted

Summary: Best Personal Loans for Non-U.S. Citizens

Company	Company - Logo	Forbes Advisor Rating	Forbes Advisor Rating - Image	Minimum credit score	Current APR range	Loan amounts	Learn More CTA text	Learn more CTA below text	LEARN MORE
SoFi®		4.0		650	8.99% to 29.99%	$5,000 to $100,000	Compare Rates	Via Credible.com's Website
LendingPoint		4.0		600	7.99% to 35.99%	$2,000 to $36,500	Compare Rates	Via Fiona.com's Website
Upgrade		3.5		580	8.49% to 35.99%	$1,000 to $50,000	Compare Rates	Via Credible.com's Website
Universal Credit		3.5		580	11.69% to 35.99%	$1,000 to $50,000	Compare Rates	Compare rates from participating lenders via Forbes Advisor
Upstart		3.5		300	7.80% to 35.99%	$1,000 to $50,000	Compare Rates	Via Credible.com's Website

Can Non-U.S. Citizens Get Personal Loans?

It is possible to find a personal loan for immigrants or non-U.S. citizens. The rules and requirements vary by lender, so it’s a good idea to shop around and look for lenders that would be willing to lend to you. These lenders may include a bank, credit union or online lender.

Lenders legally can’t discriminate against you based on your national origin. However, they may have differing requirements about who can qualify for a loan. For instance, they may want to see that you’re a permanent resident or have a valid SSN, government-issued ID and mailing address in the U.S.

Some lenders will approve a loan if you have a certain type of eligible visa, such as an E-2, E-3, H-1B, J-1, L-1 or O-1 visa. If you’re a visa holder, the lender may also require that your visa extends beyond the term of the loan that you’re requesting. For instance, the lender may not approve a five-year personal loan if your visa is set to expire in three years.

Keep in mind that policies aren’t the same across the board. Each lender has its own rules, so you’ll need to find one that’s a good match for your particular situation.

What Do Lenders Look for In a Non-U.S. Citizen Applicant?

Besides reviewing your visa or residency status, lenders also look at some other factors when evaluating your application for a personal loan, including:

• Positive credit history. Lenders review your credit history to see how you’ve managed credit in the past. Late payments or defaults can be a red flag to lenders, as they indicate you might not pay back your loans. A history of on-time payments, however, will suggest that you’re not a risky candidate for a loan.
• Sufficient credit score. Lenders also check your credit score, which is a numerical representation of your credit history. On the FICO scoring model, your credit score ranges from 300 to 850. A good score starts at 670, while a very good score starts at 740 and an exceptional score starts at 800.
• Co-signer. Some lenders allow you to apply with a co-signer or co-borrower on your personal loan, especially if you can’t meet borrowing requirements on your own. A co-signer may or may not be required, but adding one could potentially help you access better interest rates.
• Steady income. You’ll need to show that you have a source of income from an employer or other source. Lenders may also look at your overall cash flow to ensure you’ll have enough money each month to pay back your personal loan.
• Qualifying DTI ratio. Similar to your income, lenders often review your DTI, or your monthly debt payments compared to your monthly income. If you’re already paying off other loans, lenders may be concerned about your ability to pay off a new loan.
• Other personal information. Finally, you’ll provide other personal details on your application, such as your identification, proof of address, and contact information.

Note: If you’re not a U.S. citizen, you may not have much credit history in the U.S. Some lenders will look at credit you’ve built in your home country to meet this requirement. A service like Nova Credit can help you transfer your credit score from your home country to the U.S.

Alternatively, you could take steps to build your credit in the U.S. before applying for a personal loan, such as becoming an authorized user on someone else’s credit card, applying for a secured credit card or taking out a credit-builder loan.

How To Get a Personal Loan as a Non-U.S. Citizen

Once you’re ready to start applying for a personal loan, follow these steps:

1. Compare lender requirements. Start the process by comparing personal loans from a variety of lenders. Check out their requirements related to citizenship or residency status, as well as any credit or income minimums.
2. Prequalify for loans. Many lenders let you prequalify for a loan by entering a few basic personal details. If this option is available, it’s a useful way to compare loan offers quickly without impacting your credit score.
3. Compare options. As you compare options, look for a loan that offers the amount and repayment terms you’re looking for, as well as a competitive interest rate and low or no fees.
4. Gather documentation. Find out what documents you’ll need to provide and start gathering them. These may include a copy of your identification, proof of income and employment and a copy of your visa or green card.
5. Submit your application. Provide all the required information, such as your personal details, contact information, loan amount and what you’ll be using the loan for.
6. Receive your loan proceeds and start repayment. Once approved, you’ll likely receive your funds as a lump sum direct deposit into your bank account. You’ll also sign your final loan agreement and start repaying your loan, usually on a monthly basis.

Tips for Comparing Personal Loans for Non-U.S. Citizens

Shopping around is always a good idea before choosing a loan. To determine which loan is best for you, look at different attributes of each offer:

• Interest rate and annual percentage rate (APR). A top priority when borrowing a personal loan is finding a reasonable interest rate. A lower rate means lower costs of borrowing. Note that APR includes both interest rate and fees, so it’s a better metric for comparing loan offers from multiple lenders.
• Low or no fees. Look for fees that could add to your costs of borrowing, such as an origination fee, administrative fee or late payment fee. These can make a loan with a low interest rate more expensive.
• Repayment term options. Repayment terms often range anywhere from one to seven years. Look for one that works with your budget and debt payoff goals.
• Monthly payments. Find what your monthly loan payments will be. With the help of a personal loan calculator, you can make sure you can afford your payments before you borrow.
• Borrower protections or perks. Find out if the lender offers any benefits that could be helpful, such as financial hardship protection or an interest rate discount for setting up automatic payments.
• Customer reviews. Read over a lender’s customer reviews before you apply to see what other borrowers have to say. Checking out reviews can also help you make sure the lender is legitimate and trustworthy.

Although you may come across payday loans without a SSN requirement, be cautious. Payday loans often have sky-high interest rates and repayment is typically short. Be wary of lenders that offer an easy, no-credit-check application process, as you may be encountering a predatory lender that’s trying to charge unreasonable fees.

Methodology

We reviewed 29 popular lenders based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the 8 best lenders based on the weighting assigned to each category:

• Loan cost. 35%
• Loan details. 20%
• Eligibility and accessibility. 20%
• Customer experience. 15%
• Application process. 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at minimum credit score requirements, whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.

Where appropriate, we awarded partial points depending on how well a lender met each criterion.

To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.

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