Wells Fargo Personal Loan Review

Wells Fargo Personal Loan is offered by Wells Fargo Bank, a bank founded in 1852 and based in San Francisco, CA. Wells Fargo Personal Loan is available in 50 states (and Washington, DC).

• APRs starting at 5.49%. Rate is quoted with autopay discount*. Personal loan interest rates typically range between 5% and 36%. The starting rates for Wells Fargo Personal Loan are on the lower end of the spectrum.
• Fast access to funds. In some cases you can get your money within 1 business day.
• Large loan amounts. You can apply for loan amounts of up to $100,000 with Wells Fargo Personal Loan.
• Hard credit pull required. You can't check your rates or see if you prequalify for Wells Fargo Personal Loan without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
• No origination fee. Wells Fargo Personal Loan does not charge a loan origination fee.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Wells Fargo Personal Loan.
• Super long loan terms. Wells Fargo Personal Loan offers loan terms of up to 84 months. Most personal loans have a maximum term of 60 months.

What interest rates and personal loan terms does Wells Fargo Personal Loans offer?

Wells Fargo Personal Loans has lower than average interest rates for lenders reviewed on SuperMoney.

What fees does Wells Fargo Personal Loans charge?

What do you need to qualify for Wells Fargo Personal Loan?

Wells Fargo Personal Loan does not have or does not disclose a minimum annual income eligibility requirement. Wells Fargo Personal Loan will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Wells Fargo Personal Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Wells Fargo Personal Loan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Applicants must have an active and valid personal checking account
• Recent pay stubs
• Proof of income
• Driver's license
• Government issued photo ID
• Proof of identity
• Proof of citizenship or residence permit
• U.S. tax identification number

What is the estimated funding time for a personal loan via Wells Fargo Personal Loans?

Wells Fargo Personal Loans will typically approve (or deny) a loan application within 1 hour and fund loans within business day of approval.

Does Wells Fargo Personal Loan report your account activity to credit bureaus?

Yes, Wells Fargo Personal Loan reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.