finder US
US
AU
NZ
UK
CA
HK
SG
MX
US
AU
NZ
UK
CA
HK
SG
MX
Advertiser Disclosure

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Wells Fargo personal loans review

Aliyyah Camp
Aliyyah Camp
Last updated:  

Wells Fargo offers loans up to $100,000 for borrowers with excellent credit.

finder.com’s rating: 3.8 / 5.0

★★★★★

  • Best for existing Wells Fargo customers looking for money fast.
  • Pick something else if you don't have the best credit.

$100,000

Max. Loan Amount

5.24% to 20.24%

APR

Varies

Min. Credit Score

Details

Product NameWells Fargo Personal Loans
Min. Loan Amount$3,000
Max. Loan Amount$100,000
APR5.24% to 20.24%
Interest Rate TypeFixed
Min. Credit ScoreVaries
Late Fee$39
Minimum Loan Term1 year
Maximum Loan Term7 years
Turnaround TimeAs few as 1 business day(s)

Expert review

Aliyyah Camp

Review by

Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.

Expert review

Wells Fargo’s personal loans are ideal for existing customers looking to borrow money fast. You can fill out an application online, and if approved, you might 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.

Not sold on Wells Fargo? Compare your other options below.

First, am I eligible?

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

  • You must be able to show that you can pay back the loan.
  • You must be at least 18 years old.
  • You must be a US citizen or a permanent resident.

What personal loans does Wells Fargo offer?

Wells Fargo offers three types of personal loans: unsecured loans, secured loans and lines of credit.

  • Unsecured loans. With loan amounts up to $100,000 and no annual fee, an unsecured loan could be useful for consolidating debt or covering a large expense. No collateral means you minimize your personal risk.
  • Secured loan. Secured loans use your Wells Fargo CD or savings account as collateral for your loan. This can keep your interest rate lower so that you can spend less on the money you borrow.
  • Lines of credit. Lines of credit can be unsecured or secured. You’ll have access to your credit limit whenever you need it, and only pay interest on the amount you borrow.

Wells Fargo’s personal loan options have fixed rates, while its line of credit has a variable rate and an annual fee of $25.

Pros

  • Competitive rates starting at 5.24%
  • Large maximum loan amount of $100,000
  • No origination fee
  • 0.25% customer relationship and autopay discount
  • Secured and unsecured options available
  • Coapplicants allowed

Cons

  • Good to excellent credit required
  • Need to apply in person if you’re not a Wells Fargo customer

Compare other personal loan providers

Updated March 30th, 2020
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
Credible Personal Loans
3.99% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Check my rate
View details
Fiona Personal Loans
Fiona Personal Loans
4.99% to 35.99%
Good to excellent credit
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
Check my rate
View details
Monevo Personal Loans
Monevo Personal Loans
3.49% to 35.99%
450
$50,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
Check my rate
View details
Even Financial Personal Loans
Even Financial Personal Loans
4.99% to 35.99%
550
$100,000
Get connected to competitive loan offers instantly from top online consumer lenders.
Check my rate
View details
Upgrade Personal Loans
Upgrade Personal Loans
6.98% to 35.89%
600
$50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
Check my rate
View details
PenFed Credit Union Personal Loans
PenFed Credit Union Personal Loans
6.49% to 17.99%
650
$25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
Check my rate
View details
SoFi Personal Loans
SoFi Personal Loans
5.99% to 18.64%
680
$100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
Check my rate
View details

Compare up to 4 providers

Personal lines of credit from Wells Fargo

If you’d rather not borrow a term loan, Wells Fargo also offers lines of credit of $3,000 to $100,000 for eligible account holders. There are no balance transfer or cash advance fees. You only pay a $25 annual fee for each year your line of credit is active. Interest rates are variable and range between 10.00% to 21.50%, and some Wells Fargo customers may even qualify for a rate discount of 0.25%.

The application process is similar to that for personal loans. You’ll need to have details about yourself, your employment and your income ready as well as know how much you want to borrow. If approved, your funds may be available as soon as the next business day.

How do I apply?

To apply for a personal loan from Wells Fargo, follow these steps:

  1. Visit Wells Fargo’s personal loans page and click Apply Now.
  2. Sign in to have your application prefilled with your personal information.
  3. Enter any additional information about your employment, income or assets.
  4. Read Wells Fargo’s disclosures and submit your application.

What information do I need to apply?

Applying for a personal loan from Wells Fargo requires that you provide some personal information, including:

  • Social Security number
  • Government-issued picture ID
  • Details about your employment
  • Details about your income and expenses

More about Wells Fargo loans

What happens after I apply?

While turnaround varies, it typically takes anywhere from a few minutes to two hours for a decision to be reached. If approved, it can take as little as one business day from the time you accept your loan to get funded.

How do repayments work with Wells Fargo?

Payments are due monthly, and you can make repayments online and set up automatic payments through your Wells Fargo account. A line of credit payment will be due on the months you carry a balance. You should expect to pay an annual fee of $25 for your line of credit, and you may incur additional fees if you fail to make a timely payment towards your loan.

4 more loans from Wells Fargo

NameMin Credit ScoreMax Loan AmountAPR
Wells Fargo Personal LoansVaries$100,000 5.24% to 20.24% Read review
Wells Fargo Business LoansVaries$100,000 8% to 22.99% Read review
Wells Fargo Student LoansVaries$120,000 4.8% to 11.26% Read review
Wells Fargo Auto Loans680$300,000 Varies Read review

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

Frequently asked questions

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.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.

2 Comments

  1. Default Gravatar
    Doris
    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

    Reply
    • Avatarfinder Customer Care
      nikkiangco
      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.

      Regards,

      Nikki

      Reply
Go to site