Wells Fargo Personal Loan Review
Wells Fargo personal loans have many positives, including high loan amounts, a lack of fees, and low rates. Wells Fargo offers personal loans between $3,000 - $100,000, with APRs ranging from 7.49% - 23.74%. That’s one of the lowest minimum APRs available and a fairly low maximum compared to many competing lenders. Wells Fargo’s unsecured loans have $0 origination fees, too. While there is a $39 late fee (after 10 day grace period) late fee, you get a 10-day grace period after a missed payment to avoid it.
Another advantage of borrowing from Wells Fargo is that they serve people throughout the U.S. They have over 4,900 branches where you can apply in person with a credit specialist. And while Wells Fargo has had a past scandal involving opening fraudulent accounts, that didn’t have anything to do with their personal loans.
Wells Fargo Personal Loan Review Highlights
- Wells Fargo personal loan rates: 7.49% - 23.74% APR
- Loan amounts: $3,000 - $100,000
- Origination fee: $0
- Late fee: $39 late fee (after 10 day grace period), after 10-day grace period
- Payoff timelines: 12 - 84 months
- Funding timeline: Up to 3 business days for approval and 1 additional business day for delivery of the funds.
- Wells Fargo personal loan credit requirements: Reportedly 660 but not officially disclosed.
- ID requirements: You must be a U.S. citizen or permanent resident. You can apply using either a Social Security number or Individual Taxpayer Identification Number.
- Co-signers Allowed? Yes. Only some lenders allow people to apply with a co-applicant. Wells Fargo is one of them.
- Pre-qualification: You can’t pre-qualify for a Wells Fargo personal loan, but you can estimate your rates with Wells Fargo’s calculator.
Wells Fargo is one of the largest banks in the U.S., and they’re well-known for having a wide range of personal banking products, including credit cards and mortgages. But you shouldn’t discount their personal loans. Wells Fargo offers some worthwhile terms for people with fair credit or better. Below, you can see how WalletHub rates Wells Fargo in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Wells Fargo Ratings by Category
Terms: 4.6 / 5
Requirements & Application: 4.8 / 5
Reviews & Transparency: 3.3 / 5
Overall Score: 12.7 / 15
These scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.