Wells Fargo Personal Loan – Rates, Terms & Apply Online

In need of financial assistance for a big expense or debt consolidation? Wells Fargo Personal Loan could be a good option for you. They offer loans ranging from $3,000 to $100,000 with repayment terms between 12 and 84 months.  This allows you to customize the loan to fit your specific needs and budget. Plus, Wells Fargo boasts competitive fixed interest rates and even offers an interest rate discount if you set up automatic payments from a qualifying Wells Fargo account. They also waive origination, closing, and prepayment fees, making it a potentially attractive loan option.

Wells Fargo Personal Loan

However, it’s important to remember that, like any loan, it’s crucial to carefully consider the terms before applying.  Be sure you can afford the monthly payments and factor in the total interest you’ll pay over the life of the loan. Also, Wells Fargo does require you to have an open account with them for at least a year to be eligible. So, weigh the pros and cons to see if a Wells Fargo Personal Loan is the right choice for you.

Learn about Wells Fargo personal loan, including rates, terms, eligibility requirements, and how to apply online.

What is a Wells Fargo Personal Loan?

A Wells Fargo personal loan is an unsecured loan that provides a lump sum of cash directly deposited into your checking account. You can use the loan funds for various purposes, including:

  • Debt consolidation
  • Home improvement projects
  • Major purchases
  • Medical bills
  • Unexpected expenses

Features and Benefits of Wells Fargo Personal Loans

Wells Fargo Personal Loans offer a compelling combination of features and benefits that can make them an attractive option for borrowers.  Here’s a breakdown of what makes them stand out:


With loan amounts ranging from $3,000 to $100,000 and repayment terms stretching from 12 to 84 months, Wells Fargo allows you to tailor the loan to your specific needs and budget.

Competitive Rates

They boast competitive fixed interest rates, and you can qualify for an even better rate by setting up automatic payments from a qualifying Wells Fargo account.

Minimal Fees

Unlike some lenders, Wells Fargo waives origination fees, closing fees, and prepayment penalties, saving you money upfront and throughout the life of the loan.

Eligibility Criteria for Wells Fargo Personal Loans

While the features of Wells Fargo Personal Loans might be appealing, there are specific criteria you need to meet to be eligible. Here’s a breakdown of the key factors Wells Fargo considers:

  • Existing Customer: This is a big one – Wells Fargo Personal Loans are only available to existing Wells Fargo customers. If you’re not already a customer, you’ll need to open an account before applying for a loan.
  • Account Tenure: On top of being a customer, you’ll also need to have an open Wells Fargo account for at least 12 months before applying for a personal loan. This establishes a credit history with the bank.
  • Creditworthiness: While Wells Fargo doesn’t disclose the minimum credit score requirement, they do consider your credit history when evaluating your application. Having a good credit score will likely improve your chances of approval and potentially qualify you for a lower interest rate.

Interest Rates on Wells Fargo Personal Loans

Interest rates on Wells Fargo personal loans vary depending on your creditworthiness, loan amount, and repayment term. Generally, you can expect rates to fall within a range of 5.99% to 29.99% APR.

Fees Associated with Wells Fargo Personal Loans

There may be an origination fee associated with your Wells Fargo personal loan, typically ranging from 1% to 6% of the loan amount. Additionally, a late payment fee might apply if you miss a payment deadline.

How to Apply for a Wells Fargo Personal Loan

You can apply for a Wells Fargo personal loan online, over the phone, or by visiting a Wells Fargo branch. The application process is generally straightforward and can be completed in a short amount of time.

Here’s a step-by-step guide:

  1. Gather Documents: Collect documents verifying your income, employment, and identity.
  2. Choose Your Loan Option: Select the loan amount and repayment term that aligns with your needs.
  3. Complete the Application: Provide accurate information about your financial situation.
  4. Await Approval: Wells Fargo will review your application and notify you of their decision.
  5. Funding and Repayment: Upon approval, you’ll receive your loan funds and begin making monthly payments according to the agreed terms.


What is the interest rate for Wells Fargo personal loans?

Interest rates on Wells Fargo personal loans vary depending on your creditworthiness, loan amount, and loan term.  Generally, borrowers with good or excellent credit will qualify for the most competitive rates. You can check Wells Fargo’s website or speak with a loan representative for current rates.

How long does it take to get approved for a Wells Fargo personal loan?

In some cases, you may receive an approval decision on the same day you apply. However, the typical processing time can take up to several business days.

Can I use Wells Fargo personal loans for any purpose?

Wells Fargo personal loans can be used for various purposes, including debt consolidation, home improvement projects, unexpected expenses, and major purchases. However, they typically cannot be used for financing education or business ventures.

What are the fees associated with a Wells Fargo personal loan?

There may be an origination fee associated with your Wells Fargo personal loans.  Be sure to ask about any fees upfront before finalizing your loan.


A Wells Fargo personal loan can be a valuable tool for financing various needs. By understanding the eligibility requirements, interest rates, and repayment terms, you can decide if the Wells Fargo personal loans is the right fit for your financial situation. Remember to compare rates and terms from multiple lenders before making a decision.