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Wells Fargo personal loans review

Loans in a large range of amounts — but only existing customers can apply online.’s rating: 3.8 / 5.0


Bottom line: Current Wells Fargo customers can benefit from loyalty discounts and an online application. Otherwise, you’ll have to speak to a representative about your options — and won’t get as good a deal.


Min. Loan Amount$3,000
Max. Loan Amount$100,000
APR5.74% to 20.99%
Interest Rate TypeFixed
Min. Credit ScoreVaries
Late Fee$39
Loan Term1 to 7 years
Turnaround TimeAs soon as 1 business day
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  • Large maximum loan amount of $100,000
  • No origination fee
  • 0.25% to 0.5% APR discounts available
  • Coapplicants accepted


  • Good to excellent credit required
  • Online applications limited to current customers
  • High maximum interest rate of 20.99%

Wells Fargo personal loan rates, fees and terms

Wells Fargo offers loans of $3,000 to $100,000 with a term of 1 to 7 years. But while its rates start at a relatively low 5.74%, you may be charged an APR up to 20.99% — a high rate for borrowers with good to excellent credit.

Your total cost will depend on how much you borrow, what rate you qualify for and your preferred loan term. You may also qualify for an APR discount between 0.25% to 0.5% if you sign up for automatic payments from an eligible checking account.

You can use our calculator to estimate your monthly payments and get a better idea of what you might pay for a personal loan from Wells Fargo.

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Wells Fargo relationship discounts

How much of a relationship discount you get depends on the type of Wells Fargo account you already have. To qualify for a relationship discount, you must sign up for automatic payments from that account. But unlike some other banks, there’s no minimum amount of time the account must be open before the discount can apply.

Accounts eligible for a 0.5% discount

  • Wells Fargo Prime Checking
  • Wells Fargo Portfolio Checking
  • Private Bank Checking account
  • Private Bank Interest Checking Account

Accounts eligible for a 0.25% discount

  • Wells Fargo Everyday Checking
  • Wells Fargo Preferred Checking
  • Clear Access Banking
  • Complete Advantage Checking
  • Crown Banking Checking
  • Custom Management Checking
  • Opportunity Checking
  • Premium Membership Checking
  • Way2Save Checking
  • Wells Fargo at Work Checking
  • Wells Fargo College Checking

How Wells Fargo compares to other lenders

Here’s how Wells Fargo compares to two other lenders that offer a suite of services to meet most financial needs — and have online applications for all borrowers. LightStream is the online lending arm of Truist Bank. And SoFi is one of the first online lenders to apply for a bank charter.

Wells Fargo personal loans

LightStream personal loans


Finder rating 3.65 / 5


Finder rating 4.83 / 5

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5.74% to 20.99%



Loan Term

1 to 7 years

Loan Term

24 to 84 months

Loan Amount

$3,000 to $100,000

Loan Amount

$5,000 to $100,000

Min. Credit Score


Min. Credit Score

Good to excellent credit

How to qualify

To qualify for a personal loan from Wells Fargo, you need to meet the following criteria:

  • Good to excellent credit
  • Ability to repay the loan
  • Wells Fargo checking account for online applicants

Wells Fargo reviews and complaints

BBB accreditedNo
BBB customer reviews1.08 out of 5 stars, based on 322 customer reviews
BBB customer complaints3197
J.D. Power rankingRanked #5 in JD Power 2021 customer satisfaction
Trustpilot score1.4 out of 5 stars, based on 509 customer reviews
Customer reviews verified as of15 July 2021

Wells Fargo receives all-around poor ratings from its customers. While the recent reviews don’t focus on its personal loan products, many complain about poor customer service — a problem you may encounter when you borrow.

How the application works

You can apply for a personal loan by filling out a quick form online if you already have an account. Otherwise, call a Wells Fargo representative to discuss your options at 877-526-6332.

While turnaround times vary, it typically takes Wells Fargo anywhere from a few minutes to two hours to reach a decision. If approved, it can take as little as one business day from the time you accept your loan and when you receive your funds.

After you sign your loan documents, remember to sign up for automatic payments from an eligible Wells Fargo account — if you have one. Otherwise you won’t receive the rate discount.

What sets it apart

The main draw of Wells Fargo personal loans is the convenience of applying for a loan through your own bank. While the relationship discount can be a bonus, most lenders offer a 0.25% discount to anyone who signs up for automatic payments, regardless of where they bank.

If you don’t have a Wells Fargo account or aren’t interested in using yours for repayments, another lender might be a better choice.

CD and savings secured loans

Wells Fargo also has a secured personal loan option that uses your CD or savings account as collateral. You can borrow between $3,000 to $250,000 for up to 10 years — APR is fixed for the entire loan term.

However, Wells Fargo doesn’t list its rates online. And unlike its unsecured personal loan option, you’ll pay a $75 origination fee.

The exact amount you can borrow will depend on the value of your collateral. Reach out to Wells Fargo to discuss the application process and what you’ll need to apply.

3 more loans from Wells Fargo

There are quite a few loan options offered by Wells Fargo, including:

Wells Fargo business loans

Not stated

$5,000 to $100,000

6.25% to 22.99%

Wells Fargo student loans



4.8% to 11.26%

Wells Fargo auto loans




Don’t have the best credit? Compare other options with our guide to personal loans.

Frequently asked questions

See other personal loan options

Use this table to compare more personal loan options available online.

1 – 5 of 5
Name Product Filter Values APR Min. Credit Score Loan Amount
Best Egg personal loans
7.99% to 35.99%
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
Credible personal loans
3.99% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Upstart personal loans
5.6% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
SoFi personal loans
7.99% to 23.43%
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
LendingClub personal loans
6.34% to 35.89%
$1,000 to $40,000
A peer-to-peer lender offering fair rates based on your credit score.

Compare up to 4 providers

Personal loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Wells Fargo’s personal loans are ideal for existing customers looking for large loans and quick turnaround. You can fill out an application online, and if approved, may be able to receive your funds the next business day. It offers loans up to $100,000 with low starting rates compared to other lenders out there. And you might be able to score a discount off your interest rate if you have a qualifying Wells Fargo account and sign up for autopay.

But you need to have good to excellent credit to qualify. It also might not be a good option if you don’t already have an account with the bank — you’ll have to visit a branch in person to apply. Borrowers with good credit might want to look elsewhere, as well. Because of its high maximum APR, you may be able to find a better deal with another lender.

Not sold on Wells Fargo? You can compare your other options before signing up.

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  1. Default Gravatar
    October 19, 2018

    I have a loan with Wells Fargo and it will be paid off next month . I would like to know if I can get another loan same amount of money

    • Default Gravatar
      October 22, 2018

      Hi Doris,

      Thanks for your inquiry!

      Generally, you can get another loan with the same lender if you have good income and good credit score and other eligibility criteria which lender or bank will ask. Also, your previous loan must be paid off first before getting a new one.

      Speak with your current lender and ask how you could go about applying for another loan. Should you need further assistance, feel free to reach out to us again.



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