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Wells Fargo personal loans: 2023 Review

Updated on Jan. 1, 2023
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At a glance

Rating: 4.4 stars out of 5
Bankrate Score
Caret Down
Rating: 4 stars out of 5
Rating: 4.8 stars out of 5
Customer Experience
Rating: 4.4 stars out of 5

About Bankrate Score

A traditional banking institution with a range of personal loan options, Wells Fargo has a variety of options to serve customers where they are.

Loan amount $3,000 - $100,000
APR from 6.99% - 23.24%
Clock Wait
Term lengths 12 - 84 months
Wells Fargo is best for serving customer needs.

Best for serving customer needs

Wells Fargo has a variety of options available for personal loans, making them the best lender for serving customer needs. They can be flexible with repayment terms and customers can choose from a wide range of personal loan amounts to apply for. Additionally, customers gain peace of mind by incurring no fees when they open a personal loan with Wells Fargo.

Wells Fargo pros and cons


  • Checkmark

    No fees

  • Checkmark

    Same day credit approvals

  • Checkmark

    Flexible repayment terms


  • Close X

    Not possible to apply online for new customers

  • Close X

    Qualification details aren’t specific

  • Close X

    Branches aren’t located in every state

Get Prequalified for a Personal Loan

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

Do you qualify?

Wells Fargo doesn’t provide consumers with a lot of information about the requirements for a personal loan. Generally, they suggest that applicants should have a good credit history, and that a higher credit score will result in a better interest rate.

If you want more specific details, contact the customer service team at Wells Fargo.

Wells Fargo: In the details

What we like and what we don’t like

What we like:

  • No fees: Personal loans with Wells Fargo don’t have any extra origination fees or closing closets. They also don’t charge penalty fees for paying off your loan early, so you don’t have to add any extra costs on top of paying interest into your loan cost calculations. 
  • Same-day credit approvals: When you apply for a credit check or fill out your loan application, the bank will often let you know if your credit has been approved within the same day.
  • Flexible repayment terms: You can choose to repay your loan in the amount of time that works for you. This can be anywhere between 12 and 84 months.

What we don’t like

  • Not possible to apply online for new customers: If you are not currently a customer with Wells Fargo, you must visit a local branch to apply for a personal loan with them, making the process a little less convenient for new customers. 
  • Qualification details aren’t specific: The Wells Fargo website doesn’t provide much detail about what you need to qualify for a personal loan. Interested applicants have to do extra digging to find out if it’s worth applying.
  • Branches aren’t located in every state: Fourteen U.S. states don’t have a Wells Fargo branch, meaning new customers can’t apply for a personal loan in Hawaii, Indiana, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Missouri, New Hampshire, Ohio, Oklahoma, Rhode Island, Vermont and West Virginia.

How to contact Wells Fargo

You can get in touch with the customer service team at Wells Fargo by phone or by reaching out to a local branch. If you plan to visit a local branch, it’s a good idea to make an appointment. 

To reach the Wells Fargo team by phone, use the correct phone number. If you don’t already have an account, call 1-877-526-6332 Monday through Friday between 8 am and 7 pm CT. If you already have an account with Wells Fargo, call 1-877-269-6056 Monday through Friday between 7 am and 8 pm CT.

How to apply for a personal loan with Wells Fargo

Interested in applying for a personal loan with Wells Fargo? You can apply online, via phone or in person at a local branch. It’s important to note that you can only apply online or by phone if you already have an account with Wells Fargo. 

When you apply you will need to provide some basic information. You will need personal details like your name, date of birth, and social security number. You will also need to give information about your employment status and income. Finally, you will be asked for details about the loan you are applying for. Expect to let them know your desired term, loan amount, and the reason you want the loan. 

Once you provide all of these details, you may need to provide additional documents. These may include:

  • Recent pay stubs, W2s, or tax returns
  • Utility bills
  • Copy of your driver’s license or social security card
  • IRS Form 4506C
  • Power of Attorney
  • Applicant employment and income authorization form
Once you apply, the lender will check your credit and applicants often get a quick credit decision within the same day they apply. Once you submit your application you can follow its progress online by providing your email address. Here you can find out if you are approved and how to complete the closing process if you are.

Features and additional perks

Some pre-existing Wells Fargo customers qualify for an autopay discount on their personal interest rates. There are certain checking accounts with Wells Fargo that qualify personal loan applicants for an autopay discount of 0.50% on personal loan interest rates. Other checking accounts qualify customers for an interest rate discount of 0.25% discount on personal loans. Automatic payments from your Wells Fargo checking account must be made on your personal loan to qualify. 

Fees and penalties

Taking out a personal loan with Wells Fargo means skipping almost all fees. The loans don’t have any origination fees or closing fees. This bank also doesn’t charge any fees if you pay off your loan early. 

It is important to note that you may have to pay late fees if they apply. Talk to a customer service representative if you have questions.

Wells Fargo FAQs

Get Prequalified for a Personal Loan

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

How Bankrate rates Wells Fargo

Score Explanation
Overall score 4.4
Availability 4.0 Some qualifications are not disclosed.
Affordability 4.8 Low starting APR and no fees make this lender an affordable option for many.
Customer experience 4.4 Wells Fargo doesn't offer as many customer service hours as some others.


To select the top personal loan lenders, Bankrate considers 15 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed 41 lenders and gave each a Bankrate rating, which consists of three categories:

  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.