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8.49% to 24.49% (with relationship discount)
$3,000 to $100,000
Undisclosed
- Large maximum loan amounts
- Discounts for current customers
- Established brick-and-mortar lender
- No origination fee or prepayment penalty
- Significant late fees
- History of mismanaging customer information
- No online applications for non-customers
Wells Fargo Personal Loan are a good choice if you need a significant amount of cash, as you can borrow up to $100,000 with the lender. However, if you're not a current customer, you can't apply for a personal loan without visiting a branch.
- Loan amounts range from $3,000 to $100,000
- Term lengths range from 1 to 7 years
- Rate discounts to customers who have a checking account with the bank and who make their loan payments automatically through that account
- Non-customers must apply by visiting a branch and talking with a banker
- Loans made by Wells Fargo, member FDIC
Who is a Wells Fargo Personal Loan Best For?
Wells Fargo Personal Loan is best for borrowers who already have an account with the bank, as it offers discounts to current customers who pay their loans through their consumer checking accounts. It earned spots in our guides to the best debt consolidation loans and the best home improvement loans thanks to the variety of loan options on offer. Additionally, borrowers who want in person service at a brick-and-mortar lender might find Wells Fargo is their best choice.
Wells Fargo Personal Loan Details
Wells Fargo Personal Loan amounts range from $3,000 to $100,000 and can be paid back over one to seven years, depending on what terms you and the lender agree to. It's also in our guide to the best low interest personal loans.
You can get your money as soon as the next business day with Wells Fargo depending on when your application is approved. Wells Fargo won't charge you origination fees or prepayment penalties, but the lender may stick you with a up to $39 late payment fee.
While Wells Fargo Personal Loans are offered in all 50 states, it doesn't have branches in 14 states. States where branches aren't available are Ohio, Michigan, Kentucky, West Virginia, Missouri, Oklahoma, Louisiana, Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Hawaii.
This may pose a problem, as only current customers qualify to apply for loans through Wells Fargo's online portal or by phone. If you aren't a customer, you have to apply by visiting a branch and talking with a banker.
To contact customer support, call the lender Monday through Friday, 7:00 a.m. to 7 p.m. CT, or message the company's chatbot on its personal loan webpage. Wells Fargo has a well-reviewed app that has received 4.8 out of 5 stars on both Apple store and the Google Play store.
You can receive your money as soon as the next business day after you apply and your loan is approved.
Wells Fargo Personal Loan Pros and Cons
| Pros | Cons |
Established brick-and-mortar lender. If having a well-established lender is important to you, Wells Fargo is one of the oldest and largest institutions you can use. Other large banks like Chase and Bank of America don't offer personal loans. | A history of mismanaging customer information. Wells Fargo has been at the heart of numerous scandals over the past several years, including creating fake bank accounts to meet sales goals, predatory lending practices to minorities, and overcharging customers on home and auto loans. |
Relationship discounts. Instead of the more common auto-pay discounts offered by lenders to anyone who sets up automatic payments on their loans, Wells Fargo offers discounts to current customers who pay their loans through their consumer checking accounts. | Discounts only available for customers. Unlike the auto-pay discounts offered by many other lenders, Wells Fargo only offers rate discounts to customers who have a checking account with the bank, and who make their loan payments automatically through that checking account. |
Large loan amounts. You can borrow up to $100,000 with Wells Fargo, which is significantly higher than many other comparable lenders. For example, you can borrow up to $35,000 with Discover and $40,000 with Marcus Personal Loan. | No online applications for non-customers. Only current customers are eligible to apply for loans through Wells Fargo's online portal or by phone. Non-customers must apply by visiting a branch and talking with a banker. |
No origination fee or prepayment penalty. You won't have to worry about origination fees with Wells Fargo. Origination fees are taken out of your overall loan proceeds. Additionally, you can pay off your loan early if needed. | Hefty late fees. Wells Fargo will charge up to $39 late payment fee. Other personal loan lenders don't charge any late fees. |
How to Apply for a Wells Fargo Personal Loan
You'll need to meet the following requirements to apply for a personal loan with Wells Fargo:
- Meet the legal adult age requirement for your state
- Provide a valid Social Security number or Individual Taxpayer Identification number
- Have a physical US address
After verifying you qualify, here are the next steps to follow:
1. Check your rate. Wells Fargo allows borrowers to prequalify for its loans by applying through its website — though you'll have to be an existing customer to apply online. If you're not a customer, you'll need to visit a branch and talk with a banker to apply. You'll be able to get your rate without impacting your credit score. You'll need to input your name, email address, state of residence, desired loan amount and purpose, and other information.
2. Look over your loan offerings and choose the one that makes sense. After you submit your initial information, Wells Fargo will send you potential loan terms. A shorter term length means bigger monthly payments — but you'll save more in interest. You'll need to send in a formal application, which may also require additional documents, like W-2s, pay stubs, or bank statements.
3. Confirm your loan terms and plan for repayment. After you sign the document accepting your loan terms, your loan will be approved and funded. Make sure you've added your loan payments into your budget.
8.49% to 24.49% (with relationship discount)
$3,000 to $100,000
Undisclosed
- Large maximum loan amounts
- Discounts for current customers
- Established brick-and-mortar lender
- No origination fee or prepayment penalty
- Significant late fees
- History of mismanaging customer information
- No online applications for non-customers
Wells Fargo Personal Loan are a good choice if you need a significant amount of cash, as you can borrow up to $100,000 with the lender. However, if you're not a current customer, you can't apply for a personal loan without visiting a branch.
- Loan amounts range from $3,000 to $100,000
- Term lengths range from 1 to 7 years
- Rate discounts to customers who have a checking account with the bank and who make their loan payments automatically through that account
- Non-customers must apply by visiting a branch and talking with a banker
- Loans made by Wells Fargo, member FDIC
Wells Fargo Personal Loan Frequently Asked Questions
Wells Fargo is one of the largest banks operating in the US with more than $1.8 trillion of assets. However, it has been the subject of several controversies in recent years, and regulators have ordered the bank to pay billions in fines and restitution for a range of violations.
Wells Fargo offers personal loans to existing customers. It has some of the best debt consolidation loans and the best home improvement loans available.
Wells Fargo personal loan interest rates range from 8.49% to 24.49% (with relationship discount). The rate you're offered will depend on your credit score, income, and other factors.
No, you will not pay a fee when you take out a personal loan from Wells Fargo.
Wells Fargo doesn't disclose its minimum credit score for its personal loans.
Wells Fargo may offer loans with bad credit, but it depends on your individual situation — including your income. The only way to know if you qualify is if you apply.
Wells Fargo lets you borrow up to $100,000.
Wells Fargo Personal Loans Competitors
Wells Fargo Personal Loan vs. Discover Personal Loan
You can borrow up to $100,000 with Wells Fargo, which is a much higher maximum loan amount than a Discover personal loan. If you need a larger personal loan, Wells Fargo may be a better option.
Wells Fargo's repayment terms range from one to seven years, while Discover's terms range from three to seven years. If you want a shorter term length — and to save money on overall interest in the process — Wells Fargo may be the choice for you.
A distinguishing feature of Discover is its 30-day money-back guarantee on its personal loans. If you decide within 30 days of receiving your loan that you no longer want it — perhaps you found a better rate elsewhere — you can return the funds via check and won't be charged any interest. Wells Fargo doesn't have a similar unique perk.
Wells Fargo Personal Loan vs. Upstart Personal Loan
Approval on Upstart Personal Loan isn't dependent solely on credit scores. For people who have struggled with credit in the past, Upstart will factor in a few other pieces of information for a better shot at approval.
Upstart also can charge origination fees up to 8%, while Wells Fargo doesn't charge any origination fees. See the best lenders offering personal loans with no origination fee.
8.49% to 24.49% (with relationship discount)
$3,000 to $100,000
Undisclosed
- Large maximum loan amounts
- Discounts for current customers
- Established brick-and-mortar lender
- No origination fee or prepayment penalty
- Significant late fees
- History of mismanaging customer information
- No online applications for non-customers
Wells Fargo Personal Loan are a good choice if you need a significant amount of cash, as you can borrow up to $100,000 with the lender. However, if you're not a current customer, you can't apply for a personal loan without visiting a branch.
- Loan amounts range from $3,000 to $100,000
- Term lengths range from 1 to 7 years
- Rate discounts to customers who have a checking account with the bank and who make their loan payments automatically through that account
- Non-customers must apply by visiting a branch and talking with a banker
- Loans made by Wells Fargo, member FDIC
Wells Fargo Trustworthiness
The Better Business Bureau, a nonprofit organization focused on consumer protection and trust, gives Wells Fargo an F grade. The BBB measures companies by evaluating businesses' responses to consumer complaints, honesty in advertising, and transparency about business practices.
The BBB gives Wells Fargo an F rating because of the business' failure to respond to 25 complaints and government actions against the business. Most recently, the Consumer Financial Protection Bureau in December 2022 ordered Wells Fargo to return $2 billion to customers and pay a $1.7 billion penalty for legal violations involving auto loans, mortgages, and deposit accounts. The bank illegally charged fees and interest penalties on auto and mortgage loans. Additionally, it misapplied payments to those loans for many customers.
If Wells Fargo's history bothers you, you may want to consider other options on Insider's list of the best personal loans.
Why You Should Trust Us: How We Rated Wells Fargo Personal Loans
We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan's terms, so they have less of an impact on the overall rating.
See our full ratings methodology for personal loans for more details.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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