Get a loan of up to $100,000 with competitive rates to meet your financial goals.

Taking out a personal loan can be a big commitment and requires research before you can decide on fees and rates. Whether you’re looking for a loan for a new car, home renovations, or another large expense, Wells Fargo may offer a personal loan that fits your needs.

What personal loans does Wells Fargo offer?

Wells Fargo offers three types of personal loans: unsecured loans, secured loans and secured lines of credit. An unsecured loan doesn’t require collateral, while a secured personal loan and line of credit require that you use a Wells Fargo CD or savings account as insurance.

A secured loan or credit line might be more appealing because it can minimize risk, and therefore attracts lower APRs than an unsecured loan will. You can finance a purchase, consolidate debt, repair your home or even cover unplanned expenses with a personal loan.

Before taking out a loan or line of credit, make sure that it’s financially feasible for you to repay it. Failing to make regular payments can hurt your creditworthiness and cost you much more in the long run.

Compare personal loan offers from other lenders

How might I benefit from a personal loan from Wells Fargo?

Wells Fargo personal loans have a number of advantages:

• Get your funds quickly. In a hurry to get on with those renovations? With any of Wells Fargo’s personal loan options, you can get your funds as quickly as one business day following approval and your acceptance of the loan’s terms.
• Options matter. Local area branches allow you face-to-face assistance. If you’d prefer to do your banking online, Wells Fargo’s website allows you to complete your application, check your status and even make payments from the comfort of your own home.
• 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.

What to watch out for with Wells Fargo personal loans

Personal loans — especially loans for large amounts — can end up costing much more than the principal. Even with the best APR, loans can end up costing thousands of dollars more than the initial loan.

• Good to excellent credit preferred. If you have less-than-stellar credit and you want to get a personal loan, you may not qualify for one through Wells Fargo.
• High loan amounts. Borrowing more than you need leads to paying more than you should. You may be able to get a loan of up to $100,000, but that doesn’t mean you need that much.
• Consolidation troubles. Getting all of your debt into one place can be helpful. But if you’re transferring it from a credit card to a personal loan, you run a certain risk. Freeing up space on a credit card can lead to the same issue as borrowing too much — overspending. Make sure that you take steps to keep your debt down after consolidation.

Am I eligible for a personal loan with Wells Fargo?

Once you’ve make the choice to take out a loan, be sure you meet the following criteria:

• You must have good or excellent credit.
• You must be at least 18 years old.
• You must be an American citizen or a permanent resident of the US.
• You must be able to show that you have enough money to pay back the loan.

What information do I need to apply?

To apply for a Wells Fargo personal loan, click “Go to site.” Applying requires that you provide some personal information, including:

• Your full name, date of birth, Social Security number and 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.

A selection of Wells Fargo personal loans you can apply for

Loan Type	Max. Loan Amount	Starting APR
Wells Fargo Personal Loans	$100,000	6.99%–23.99%	More
Wells Fargo Business Loans	$100,000	6.50%–22.99%	More
Wells Fargo Student Loans	$120,000	6.17%–11.26%	More
Wells Fargo Auto Loans	$300,000	3.88%–24.24%	More

I got a personal loan from Wells Fargo. Now what?

Once you’re financed through a Wells Fargo personal loan, it’s time to keep on top of your new credit.

• Easily make payments online. Avoid the post office by making one-time payments through your Wells Fargo account online. You can also call, mail or make your payments at a Wells Fargo branch.
• Set up automatic payments. Avoid late and returned payment fees by scheduling automatic deductions from your Wells Fargo account.

Bottom line

Unsecured and secured personal loans and secured lines of credit all have their advantages. While secured options typically offer lower APRs, you’ll need have collateral for approval.

A personal loan can help you take your next big financial step. Consider comparing your personal loan options to make sure you’re getting the best loan for your needs.

Have more questions about Wells Fargo personal loans?

• Do I need an existing Wells Fargo account to apply?

  No. But if you have an existing account that qualifies, you could receive a discounted APR.

• How long does the entire process take once I’ve submitted my application?

  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.

• What are the minimum and maximum loan terms?

  You can get a loan for as little as one year and as long as five, depending on how much you borrow.