Wells Fargo Personal Loan Review
- APR (with relationship discount)
- 6.74% – 26.49%
- Eligibility and access: 4/5
- Cost to borrow: 4.5/5
- Loan terms and options: 4.2/5
- Repayment support and tools: 5/5
Wells Fargo Bank loans stand out for their unusually wide range of loan amounts and repayment terms that can help you customize your loan to fit your schedule and budget. That said, you’ll need to be a Wells Fargo accountholder for at least 12 months before you can qualify.
- Competitive rates: Starting rates for Wells Fargo Bank personal loans are currently some of the lowest on the market. Wells Fargo also caps rates at 26.49% — well below the 35.99% maximum that many other lenders charge. The lower your rates, the less you’ll spend on your loan.
- Both short and long loan terms: Wells Fargo offers one of the widest loan term ranges on the market, allowing customers to choose between saving money on interest with a short-term loan and stretching out payments across an extra-long loan term.
- Wide range of loan amounts: While many lenders restrict how much you can borrow, Wells Fargo offers both large and small loans. Still, keep in mind that lenders typically reserve large loans for people with high credit scores and incomes.
- No upfront fees or prepayment penalties: Wells Fargo doesn’t charge an origination fee (a one-time fee taken out of your loan before the lender sends it to you) or a prepayment penalty for making early payments.
- Fast funding: Wells Fargo could transfer your money to your account as soon as the same day you sign the loan paperwork.
- Only available to accountholders: You’ll need to be a current Wells Fargo customer with an open Wells Fargo account for 12 months before you can qualify for a loan.
- Best for Wells Fargo customers: Wells Fargo personal loans come with low rates, no upfront fees and customizable terms — all features that could help you save money on your loan. If you already bank with Wells Fargo, it’s a no-brainer to check your personal loan rates here.
Wells Fargo pros and cons
Wells Fargo personal loans come with several benefits, but there are a few cons worth considering. Here’s what you need to know.
Pros
- Rates capped at 26.49% (competitor rates often max out at 35.99%)
- Flexible loan amounts and terms
- Get money as soon as the same day
- No upfront fees
- Allows due date changes
Cons
- Must have a Wells Fargo account for at least 12 months to qualify for a loan
- No joint loans
- No info on minimum credit or income requirements
Wells Fargo’s low rates and lack of fees can help you keep the cost of borrowing down, and you could even snag a discount for setting up automatic payments from a qualifying Wells Fargo checking account. You won’t sacrifice speed, either — you could see your money in your account as soon as the same day you sign.
And since Wells Fargo loans come with competitive rates and flexible terms, it’s well worth your time to check your rates with no damage to your credit (also known as prequalifying for a loan) on the Wells Fargo website.
But Wells Fargo loans aren’t available unless you’ve had a Wells Fargo account for at least 12 months. Plus, it’s hard to predict whether you’ll qualify since Wells Fargo doesn’t publish minimum loan eligibility criteria — but you can check with no impact to your credit score.
Wells Fargo requirements
Wells Fargo doesn’t publish minimum credit score or income requirements for personal loans. Here’s what we know about what you need to qualify for a Wells Fargo loan:
| Required information |
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| Additional documents (requested/required as necessary) |
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| Other requirements | Must be a current Wells Fargo customer with an open checking or savings account for at least 12 months |
It’s uncommon for banks like Wells Fargo to publish minimum credit score and income criteria. Learn more about personal loan eligibility requirements and how to boost your odds of approval.
If Wells Fargo’s loan options won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with Wells Fargo
Check your rate
You’ll enter basic personal details about yourself and your loan, and Wells Fargo will show you your potential rates — usually on the same day — if you qualify. You can either manually fill in a Wells Fargo personal loan form or sign into your Wells Fargo account to speed up the process.
Apply for a loan
If you like the rates you see, you can choose from your loan options and submit a personal loan application to see your final rates. You may need to submit additional documents to verify your identity, income, address or employment. Wells Fargo will then do a hard credit pull and send you a final loan offer if you qualify.
Sign your loan agreement
You can review your loan agreement and sign it to close on your loan. Wells Fargo will send your money as soon as the same day you sign your loan paperwork.
How Wells Fargo compares to other personal loan companies
Even if you believe Wells Fargo aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how Wells Fargo stacks up against similar personal loan lenders.
| Lender | Wells Fargo Bank | Discover | SoFi |
|---|---|---|---|
| LendingTree’s rating | 4.4/5 | 4.6/5 | 4.8/5 |
| Minimum credit score | Not specified | 720 | 620 |
| APRs | 6.74% – 26.49% (with relationship discount) | 7.99% – 24.99% | 8.74% – 35.49% (includes discounts) |
| Loan amounts | $3,000 – $100,000 | $2,500 – $40,000 | $5,000 – $100,000 |
| Repayment terms | 12 to 84 months | 36 to 84 months | 24 to 84 months |
| Origination fee | None | None | 0.00% – 7.00% (optional) |
| Funding timeline | Get money as soon as the same day you sign for your loan | Get money as soon as the next business day | Get money as soon as the same day |
| Bottom line | Compared to competitors Discover and SoFi, Wells Fargo Bank offers the lowest starting rates and most flexible loan amounts and terms. That said, Discover and SoFi don’t charge late fees, while Wells Fargo Bank does. | Like Wells Fargo Bank, Discover skips origination fees — it even offers smaller loans. But Discover has the highest disclosed credit score minimum of the three — so steer clear unless you have good to excellent credit. | SoFi offers loan amounts and terms that are almost as flexible as Wells Fargo Bank’s on a similar funding timeline. |
How we rated Wells Fargo
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
Wells Fargo doesn’t publish minimum income or credit score requirements. However, you can see if you’re eligible by prequalifying on the Wells Fargo website — this won’t impact your credit.
Yes, you can check personal loan rates without impacting your credit on the Wells Fargo website. Learn more about how to get a Wells Fargo loan.
Wells Fargo’s current personal loan interest rates are 6.74% – 26.49% (with relationship discount). Compare Wells Fargo rates with average personal loan rates across different credit bands.
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