Wells Fargo offers tailored financing for just about every life stage.
Apply for both secured and unsecured personal loans with Wells Fargo. Secured loans require collateral, but generally come with lower interest rates than unsecured. If you don’t have collateral, you can still receive a discount if you have an existing relationship with Wells Fargo.
With some Wells Fargo personal loans, you can receive your money in as little as one business day after approval. When you need financing in a hurry, you can count on getting your funds quickly.
What types of loans does Wells Fargo offer?
- Personal loans. Wells Fargo offers personal loans that don’t require collateral. Your creditworthiness and the loan amount and term will determine your APR. These loans can be used for almost anything.
- Student loans. Both undergraduate and graduate loans can be paid using private student loans through Wells Fargo. You can also consolidate multiple loans into a single one.
- Auto loans. You can purchase a new vehicle or refinance one you already own.
- Business loans. Emergency repairs, one-off expenses, expansions and remodels are all legitimate uses for a business loan with Wells Fargo. These loans can range from one- to six-year terms, with both secured and unsecured options.
- Other loans. If you’re looking to purchase a home or remodel, Wells Fargo has options. Your credit history, loan type and term will determine your APR.
A complete list of Wells Fargo’s current loan offerings
- Personal loan
- Private student loan
- Private consolidation student loan
- Graduate student loan
- Refinance mortgage
- Home equity line
- Home improvement loan
- Auto refinance
- New car loan
- Used car loan
- Private car loan
- Leased car loan
- Unsecured business loan
- Equipment express loan
Compare Wells Fargo to alternative online lenders
Why should I consider taking out a loan with Wells Fargo?
- Great rates. Rates, terms and monthly payments are fixed. With excellent credit, your rates can be as low as 6.99%, making your payments more affordable. Sometimes you’ll be offered discounts.
- Quick access to funds. If your application is approved and you accept the terms of the loan, funds may reach your account in as little as one business day.
- Minimal fees. With some loans, you’ll pay a $25 annual fee, but there are no origination fees and you won’t get dinged for prepayment.
- Online account management. Complete and submit your application online if you’re already a Wells Fargo customer. Once you get your loan, you can view your balance and make payments online.
- Payment options. If you’re a Wells Fargo checking or savings account holder, you can have your payments automatically deducted from your account. You can also make payments online, in person at your local Wells Fargo branch, by phone or by mail.
- Discounts for qualifying customers. If you have a qualifying existing relationship with Wells Fargo and set up automatic payments through a Wells Fargo deposit account, you can receive a discount of up to 0.50%.
How much will a Wells Fargo loan cost?
Wells Fargo offers competitive APRs that range from 1.00% to 23.99%, depending on the loan type, repayment terms and your creditworthiness.
There’s no origination fee, and you can prepay without incurring 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.
Are Wells Fargo loans safe?
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, offering customer support and encryption to safeguard information.
If you’re having trouble or have questions, contact customer service by phone, by live chat or at a Wells Fargo branch.
How do I apply for a loan with Wells Fargo?
You’ll need to meet the following requirements:
- You must have a good to excellent credit.
- You must be at least 18 years old.
- You should be an American citizen or a permanent resident of the US.
- Your income and assets must support your existing debt obligations and the loan amount.
Applying requires that you provide some personal information:
- Your full name, date of birth, Social Security number and a valid form of ID, such as your driver’s license or passport.
- Your home address, email address and phone number.
- Details about your employment.
- Details about your income and expenses.
Benefits and drawbacks of Wells Fargo loans
- Transparent rates. Fixed rates and repayments mean knowing exactly what you’re going to pay each month. Discounts lower the cost and duration of the loan.
- Borrow what you need. With loans of up to $100,000, you can finance even the biggest ventures.
- Creditworthiness in check. Access your FICO credit scores for free through Wells Fargo.
- Get funds fast. After approval, you can receive your funds within one business day.
- Annual fee. There’s an annual fee of $25 for a personal or secured line of credit.
- Credit requirement. Though it’s not shown online, Wells Fargo favors those with good to excellent credit ratings.
- Minimum amount. If you’re looking for a smaller loan, Wells Fargo may not be the best option. The minimum personal loan amount is $3,000.
Wells Fargo offers plenty of personal loan options. Whether you’re looking to grow your business, pay for school, get a car or even remodel your home, this bank can meet your needs.
But before you decide on any loan, be sure to compare other lenders to make sure you’re getting the best deal.