Wells Fargo Personal Loan – APPLY ONLINE

Wells Fargo Personal Loan stands out as an optimal choice for individuals who have an existing Wells Fargo account. In addition, this loan option provides discounts to current bank customers who opt to repay their loans through their consumer checking accounts.

Wells Fargo Personal Loan - APPLY ONLINE

With a Wells Fargo Personal loan, you can easily cover your emergency expenses and more. However, to qualify for this loan, you will need to meet certain requirements after which you can apply for the loan. Once your application has been approved, you will be funded within the next one to three business days. Read on for steps and guidelines on how to apply for this loan.

What is a Wells Fargo Personal Loan?

Wells Fargo Personal Loan is a conventional banking entity that provides a diverse selection of personal loan choices to effectively cater to customer requirements. It stands out as a top lender due to its flexibility in repayment terms. And an extensive range of personal loan amounts that customers can select from.

These loans are accessible across all 50 states, and potential borrowers have the convenience of pre-qualifying online through a soft credit check to review their loan offers.

Furthermore, Wells Fargo extends an additional financial option known as the Flex loan, designed for pre-approved customers and accessible through the Wells Fargo mobile app.

How Does It Work?

Wells Fargo Personal Loans offer a flexible range. This spans from $3,000 to $100,000, with repayment terms extending from one to seven years. However, this loan option is recognized in our guide to the best low-interest personal loans.

Upon approval, funds can be disbursed as early as the next business day, contingent on the timing of your application. Notably, Wells Fargo refrains from levying origination fees or prepayment penalties. However, borrowers should be aware of a potential late payment fee, which may amount to up to $39.

Moreover, it’s important to note that eligibility for a Wells Fargo personal loan is limited to existing customers. Additionally, customer reviews of the bank are mixed, and its track record with regulators has faced challenges.

Eligibility Criteria For Wells Fargo Personal Loans

While Wells Fargo may not provide extensive details on its loan eligibility criteria. Individuals seeking a Wells Fargo personal loan should aim to meet or be prepared to provide the following requirements:

  1. Personal information such as name, date of birth, phone number, etc.
  2. Employment status
  3. Income details
  4. Loan amount
  5. Power of Attorney
  6. Pay stubs, W2s, and tax returns
  7. Social security card
  8. Income authorization and more will be requested.

How to Apply for a Wells Fargo Personal Loan

To apply for a personal loan with Wells Fargo, you are required to meet the following criteria:

Check Rates

Wells Fargo enables you to prequalify for personal loans, allowing you to assess potential rates, terms, and loan amounts without affecting your credit score.

For non-customers, the application process for a Wells Fargo personal loan involves visiting a branch and engaging with a banker to apply. However, you can obtain your rate without any impact on your credit score.

Additionally, the required information for the application includes your name, email address, state of residence, desired loan amount, purpose, and other pertinent details.

Select your Loan Offering

After submission of your initial information, Wells Fargo will provide you with potential loan terms. Although opting for a shorter term entails larger monthly payments, it results in greater interest savings.

Moreover, you’ll be required to submit a formal application, which may necessitate additional documentation such as W-2s, pay stubs, or bank statements.

Verify Loan Information

If you decide to move forward with Wells Fargo as your lender after prequalifying for a loan, the next step involves verifying the information you provided. Also, Wells Fargo will request documents confirming your identity, address, and income.

In addition, this could include items such as pay stubs, W-2s, tax returns, utility bills, and a government-issued ID. Also, Wells Fargo will conduct a hard credit inquiry on your credit background.

This inquiry provides the bank access to your credit report and may result in a temporary drop of up to five points in your credit score.

Confirm and Close the Loan

Once you sign the document accepting the terms of your loan, the approval process is complete, and your loan will be officially approved and funded. Also, it’s crucial to ensure that you’ve incorporated your loan payments into your budget for smooth repayment.

However, if your application for a personal loan is denied, it could be beneficial to explore strategies to enhance your chances of approval. Also, key measures include boosting your credit score and cultivating your credit profile.

Why Apply For A Wells Fargo Personal Loan

Established Lender

For those who prioritize the reliability of a well-established lender, Wells Fargo stands out as one of the oldest and largest institutions available. Meanwhile, it’s worth noting that other major banks like Chase and Bank of America do not provide personal loans, making Wells Fargo a notable option in this category.


In contrast to the typical auto-pay discounts commonly provided by lenders for setting up automatic payments, Wells Fargo takes a different approach. However, the bank offers discounts specifically to its existing customers who choose to repay their loans through their consumer checking accounts.

Large Loan Amount

Wells Fargo allows borrowers to access loans with a maximum limit of $100,000, surpassing the offerings of many comparable lenders, and with repayment terms extending from one to seven years.

No Origination or Prepayment Fee

Wells Fargo provides a borrower-friendly experience by eliminating origination fees, which are typically deducted from the total loan amount. Moreover, borrowers have the flexibility to pay off their loans ahead of schedule without incurring any prepayment penalties.


How Long Does Wells Fargo take to offer a Loan?

Wells Fargo ensures a swift funding process, with borrowers typically receiving their funds within one to three business days.

Does a Wells Fargo Personal Loan hurt my Credit Score?

Wells Fargo’s approach to personal loans includes a prequalification process that doesn’t negatively impact your credit scores. By allowing you to prequalify, you can assess potential rates, terms, and loan amounts without any adverse effects on your credit score.

What is the interest rate on a Wells Fargo Personal Loan?

Wells Fargo provides a flexible range of personal loans, allowing borrowers to access funds ranging from $3,000 to $100,000. This wide spectrum caters to various financial needs and preferences.