Wells Fargo Personal Loans Review (2026)

Our take on Wells Fargo

Wells Fargo personal loans have low rates, making them an excellent choice for Wells Fargo customers with very good or excellent credit. The lowest rate of 6.74% includes a discount for autopaying from a qualifying Wells Fargo account, and Wells Fargo charges no origination fees, closing fees, or prepayment penalties.

Other standout features include same-day credit decisions, repayment periods up to seven years, and loan amounts up to $100,000. Many lenders cap loan amounts at $50,000 and set five-year maximum repayment terms.

Unfortunately, loans are only available if you’ve been a Wells Fargo customer for at least 12 months, so the bank isn’t a good fit if you bank elsewhere. The $3,000 minimum borrowing limit also makes Wells Fargo a poor choice for small loans.

Wells Fargo personal loan features

Who (or what) is Wells Fargo best for?

• Best for Wells Fargo customers: You can only apply for a Wells Fargo personal loan if you’ve been a customer for at least a year. Wells Fargo's advertised rates also assume you'll take advantage of a relationship discount between 0.25% and 0.50% — depending on the type of checking account you have — by setting up autopay. 
• In-person support: With more than 4,000 Wells Fargo branches across the U.S., borrowers benefit from in-person support, which many online-only lenders don't offer.
• Also great for emergency expenses: Many customers get their cash the same day. That makes Wells Fargo personal loans useful for immediate expenses. 

Who is Wells Fargo not best for?

Wells Fargo isn’t a good option if:

• You bank elsewhere: If you haven't been a Wells Fargo customer for at least a year, you won’t be eligible for a personal loan.
• You have bad credit: Wells Fargo doesn’t disclose a minimum required credit score, but big banks tend to have strict lending criteria. If you have credit issues, consider applying with a local credit union or an online lender that offers bad credit loans instead.
• You need a small loan: If you need a loan smaller than $3,000, you’ll need to look for a lender offering smaller loans. 

Pros and cons

Details on the pros

• Competitive rates: Wells Fargo offers APRs as low as 6.74% after a relationship discount. Few other lenders can beat that starting rate. Wells Fargo's maximum rate of 25.99% is also lower than many other lenders.
• No origination fee: Wells Fargo doesn’t charge an origination fee, which is a one-time fee that many personal loan lenders deduct from the initial loan proceeds to cover loan processing costs and lender risk. 
• Loan amounts up to $100,000: While many lenders cap loan amounts at $50,000, Wells Fargo offers personal loans up to $100,000 so you can fund more expensive goals.
• Fast funding: Many borrowers qualify for same-day funding directly to a Wells Fargo checking account. 
• Option to change your due date: Wells Fargo allows you to change your payment due date by calling customer service, so you can pay at a time that makes sense for you. 

Details on the cons

• Wells Fargo customer requirement: You're not eligible for a Wells Fargo personal loan unless you've been a bank customer for at least 12 months.
• Late payment fees: Wells Fargo charges a $39 fee for late payments. While late fees are common and avoidable, a few lenders don’t charge them, including SoFi. 
• High minimum loan amount: Wells Fargo personal loans aren't a good option for small expenses because of the $3,000 minimum borrowing requirement. 
• Limited repayment options for small loans: While Wells Fargo offers a wide range of repayment options, including seven-year terms, for personal loans above $5,000, loans under $5,000 have a maximum three-year repayment term. 
• Bad credit borrowers may not qualify: Wells Fargo doesn’t disclose a minimum credit score, but borrowers with bad credit are unlikely to qualify for a personal loan. You can prequalify without impacting your credit score to find out if you'll be approved. 

How to qualify for a Wells Fargo personal loan

Wells Fargo limits loan eligibility to bank customers. While the bank doesn’t publicly disclose specific personal loan eligibility criteria, you must provide certain details when applying, including your:

• Social Security number
• Date of birth
• Citizenship status
• Contact info
• Employment information
• Gross monthly income
• Monthly housing payment
• Loan purpose
• Desired loan term and amount

Wells Fargo personal loan purposes

You can use a Wells Fargo personal loan for almost any expense, including: 

You generally can’t use personal loan funds to buy a house, and you should check your loan agreement for other possible restrictions. For example, most personal loan lenders don’t allow you to use the money you borrow to pay for college expenses. 

Wells Fargo personal loan fees and penalties

Wells Fargo doesn’t charge an origination fee or prepayment penalties. The bank does charge a $39 late payment fee.

Wells Fargo company details and history

Wells Fargo was founded in 1852 and has grown into the fourth-largest commercial bank in the nation by consolidated assets. While the bank is headquartered in San Francisco, California, Wells Fargo offers in-person support at over 4,000 branches spread across 36 states and Washington, D.C.

The FDIC member bank offers a wide range of financial products and services beyond personal loans, including checking and savings accounts, certificates of deposit, credit cards, home loans, auto loans, and business financing. 

Contact information

Wells Fargo allows you to manage your loan using the website or the Wells Fargo mobile app. You can also make an appointment at a local branch to get help from a banker or use live chat during business hours.

To reach a customer support representative by phone, call one of the phone numbers below.

• For help opening an account: 1-877-526-6332 (Mon - Fri, 8am - 7pm CT)
• Personal loan servicing: 1-877-269-6065 (Mon - Fri, 7am - 7pm CT)

You can also reach Wells Fargo’s personal lending department by mail at the address below:

Wells Fargo Bank, N.A.
Attn: Credit Bureau Operations
PO Box 71092
Charlotte, NC 28272