As two nationally recognized and established banks in the U.S., it can be difficult to decide whether a personal loan from Wells Fargo or PNC is a better fit. While it can be better to borrow from the bank you already have an existing relationship with, you should carefully compare and contrast both options to ensure you’re getting the most out of your loan.

Wells Fargo vs. PNC at a glance

Wells Fargo PNC Bank
Bankrate score 4.4 4.6
Better for Serving customer needs •An in-person experience•Small loan amounts
Loan amounts $3,000-$100,000 $1,000-$35,000
APRs 8.49%-24.49% Varies by ZIP code
Loan term lengths 12-84 months 6-60 months
Fees Late fee Late fee
Minimum credit score Not specified Not specified
Time to funding 1-3 business days Within a few business days

Wells Fargo personal loans

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  • Low fees.
  • High loan amounts.
  • Same-day credit approvals
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  • No co-signer or joint applicant options.
  • Must be an existing Wells Fargo customer.
  • Not available in 14 U.S. states.

Wells Fargo is a well-known American bank that funds personal loans to  existing customers. While it doesn’t provide financial or credit minimum requirements, it’s suggested that borrowers with a good credit history and higher score are more likely to get approved.

Like many banks, including PNC, Wells Fargo does not charge an origination fee. But where it really beats PNC is in the application process, which is entirely online. However, you will need to have been a Wells Fargo customer for at least 12 months before you are able to borrow a personal loan. If you don’t meet this requirement, you should turn to PNC or another lender.

PNC Bank personal loans

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  • Few fees.
  • Co-borrowers allowed.
  • Benefits for existing customers.
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  • Smaller loan maximum.
  • Loan details vary by location.
  • Vague approval requirements.

Much like Wells Fargo, PNC is a traditional brick-and-mortar bank that offers unsecured installment loans. However, PNC Bank doesn’t require that applicants have an existing banking relationship to qualify for a loan. You will need to apply in-person if you don’t have an account, but current account holders are able to apply online — provided the loan is under $25,000.

While there are perks for existing customers, like a 0.25 percent interest rate reduction, the terms and loan amount you’re offered will ultimately depend on where you live. In addition, it has much smaller loans than many other lenders on the market. If you need to borrow more than $35,000, consider Wells Fargo or another lender.

How to choose between Wells Fargo and PNC Bank

Wells Fargo and PNC Bank both offer valuable benefits, competitive rates and flexible repayment options, but neither is a one-size-fits-all option. Pick Wells Fargo if you already have an account and believe you can qualify for lower rates. Pick PNC if you need a smaller loan and are willing to visit a branch to apply.

Wells Fargo has large borrowing amounts

Wells Fargo is one of the top lenders for large loan amounts. While most lenders allow applicants to borrow up to $50,000 — or just $35,000 with PNC — Wells Fargo has a maximum of $100,000.

What’s more, Wells Fargo also offers minimal fees and discounts to its customers. This is a valuable perk considering most lenders and institutions charge at least an origination fee, which adds significant cost to larger loans.

PNC offers co-borrower applications

While PNC doesn’t require its borrowers to be members, it does offer discounts to its existing customers. Its rates and product terms vary by location and its listed eligibility requirements are far from transparent, but it does allow borrowers to apply with a co-borrower.

Applying with a creditworthy co-borrower increases approval odds and can significantly reduce rates, making this loan ideal for those who may not otherwise get approved. But you will need to be a current customer to get the best rates and apply online. Otherwise, you will be stuck visiting a branch and receiving a less-than-ideal APR.

Compare lenders before applying

Both Wells Fargo and PNC Bank have strong personal loan products for existing customers. If you have strong credit, a stable income and a low debt-to-income ratio, you will likely fare better with a Wells Fargo personal loan — provided you already have an account. Borrowers who have a co-signer and a less-than-stellar credit score are better candidates for a personal loan from PNC.

Before making a decision, compare multiple lenders to make sure you’re getting the best rate and loan possible.