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Unlike many large banks, Wells Fargo has a number of loan options that cover a variety of needs. With competitive rates, no origination or early repayment fees and online tools to help you manage your loan, you’ll likely find a decent deal on your loan. But you’ll need good to excellent credit for most of its options, and smaller loans aren’t an option.
Wells Fargo offers both secured and unsecured loans for every phase of life.
Many of Wells Fargo’s loan options come with an APR discount of 0.25% when you sign up for automatic payments. This can sharply reduce the total cost of your loan, but you’ll want to be sure you can afford regular payments before you sign up for this program.
Wells Fargo personal loans | Varies | $100,000 | 5.99% to 24.49% | |
Wells Fargo business loans | Varies | $100,000 | 6.25% to 22.99% | |
Wells Fargo Auto Loans | 680 | $300,000 | Varies | |
Wells Fargo Student Loans | Varies | $120,000 | 4.8% to 11.26% | |
Wells Fargo Mortgages | 620 |
Everyday Loans
Home Loans
Vehicle Loans
Business Loans
Although the exact benefits depend on the type of loan you borrow, Wells Fargo offers a few outstanding features for all its loans.
Wells Fargo is an established name, but that doesn’t mean it doesn’t have flaws.
Wells Fargo offers competitive APRs that range from 1.00% to 23.99%, depending on the loan type, repayment terms and your credit. Your cost may also depend on whether you opt for a secured or unsecured loan.
There’s no origination fee, and you can prepay without incurring harsh penalties or steep fees. With some loans, you’ll pay an annual fee of $25 and late and returned payment fees of $39 if you can’t pay on time or your payment doesn’t go through.
The total cost of the loan will depend on how much you borrow and your interest rate. Before you agree to a loan contract, read it carefully to learn the final amount you’ll be paying at the end of the term.
Wells Fargo isn’t accredited by the BBB and isn’t rated. However, borrowers have plenty to say — there are nearly 500 negative reviews and almost 3,500 complaints filed against it. The most recent reviews state problems with fees and the approval process, while the complaints stated that they had problems with their accounts and were unable to get satisfactory responses from any of the Wells Fargo representatives they spoke with.
It receives similar scores from Trustpilot. Over 75% of reviews rated it as “bad,” and it only has a 1.5 out of 10. People state that Wells Fargo is “greedy,” has closed accounts for no reason and that its team does little to help customers who have a problem.
Backed by more than 160 years of reputation and service, Wells Fargo has a longstanding history within the US. Its website is easy to use and encrypted to safeguard your private personal and financial information. However, with a number of negative customer reviews pointing to the opposite, you may want to consider other lenders before you borrow from Wells Fargo.
The process will vary based on the loan you select, but in general, you can apply online or at a local branch. When you’re ready to begin, be sure you have the following information nearby:
You’ll need to meet the following basic criteria to apply for a loan with Wells Fargo:
Keep in mind that each loan may have other, more specific requirements you’ll need to meet to qualify.
Wells Fargo was founded in 1852 and has been offering its banking services since. However, with recent government actions and numerous complaints filed against the company, its reputation has taken a dip. But since it’s one of the few banks that offers personal and student loans, you may want to weigh the pros and cons carefully when you’re ready to borrow.
Wells Fargo offers multiple of loan options for every need. Whether you’re looking to grow your business, pay for school, get a car or remodel your home, Wells Fargo may be able to help you fund your next big venture. But before you decide on a loan, be sure to compare other lenders to make sure you’re getting the best deal.
A Wells Fargo auto loan could provide you with the financing you need to get the car of your dreams. Learn more about the rates, terms and restrictions.
A Wells Fargo business loan could provide you with the capital to grow and expand your business. Find out how much you can get and what you need to apply.
A Wells Fargo personal loan could provide you with the financing you need to make the next big step in your life. Learn more about the rates and terms.
I would like a loan to install a septic system
Hi John,
Thanks for your comment and I hope you are doing well. You can apply for a personal loan with Wells Fargo loans for your septic system and the first step to getting a loan is to review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
On our page, you will see a portion of the page that says “How do I apply for a loan with Wells Fargo?” and “eligibility requirements”. Before submitting an application, make sure you have all of these ready before applying.
Hope this helps and feel free to reach out to us again for further assistance, we’re here to help!
Best,
Nikki
Best,
Nikki