Wells Fargo 2026 Personal Loan Review
Wells Fargo personal loans have competitive rates and no origination fee, but you’ll need to already be a Wells customer to qualify.
- Want to avoid an origination fee.
- Need a larger loan or long repayment term.
- Want to pre-qualify with a soft credit check.
- Need fast funding.
- Aren't a Wells Fargo customer.
- Have bad credit.
- Want a co-signed, joint or secured loan.
- Need a small loan.
What to know about Wells Fargo personal loans
Wells Fargo offers some of the more competitive personal loan rates we’ve seen, but you’ll need to be a banking customer with an account that’s been open for at least a year to apply.
Annual percentage rates range from 6.74% to 26.74%, which includes a 0.25-percentage-point discount if you have a qualifying Wells Fargo checking account and set up automatic payments from a Wells account. For context, typical personal loan rates are from 7% to 36%, and the lowest rates go to highly-qualified borrowers.
Along with competitive rates, one of my favorite things about Wells Fargo loans is that repayment terms span from one to seven years. That gives you a lot of flexibility, depending on your goal. You can choose a term of just a year or two if you prefer to pay off debt quickly and save on interest. If minimizing your monthly payment is a priority, you can opt for a longer term, though you’ll pay more interest overall.
Wells Fargo’s minimum loan amount is $3,000, which may be a bit high if you’re borrowing for a one-time expense like a car repair. If you need to borrow $500 or less, Wells Fargo Flex loans may be an option. Otherwise, you can find lenders with loans of $1,000 or less.
Meanwhile, many lenders cap personal loans at $40,000 to $50,000, but Wells Fargo offers loans up to $100,000. The lender’s larger loans could be a good fit in a few situations, like if you’re consolidating a large amount of debt or you’re financing a major home renovation and don’t want to tap your equity.
Wells Fargo told NerdWallet you’ll need at least fair credit to qualify for a loan. Beyond that, it didn’t disclose many details about its requirements or the profile of a typical borrower.
» MORE: Compare the best personal loans
What we like most about Wells Fargo
- You won’t pay an origination fee: Wells Fargo personal loans don’t have origination fees. These one-time charges typically range from 1% to 10% of the loan amount and are often subtracted before you get your funds. Large banks like Wells Fargo rarely charge an origination fee for personal loans, but these fees are fairly common among online lenders.
- You can pre-qualify with a soft credit check: Like most lenders, Wells Fargo lets you pre-qualify for a loan without affecting your credit. If you pre-qualify, you’ll be able to see your potential monthly payment, repayment term and APR.
- You’ll find a variety of loan amounts and repayment terms: Wells Fargo loans are from $3,000 to $100,000, with repayment terms of one to seven years. The broad spectrum allows you to cover many midsize and larger financing needs, whether you’re financing a home project, a wedding or a large purchase, or you’re consolidating debt. Note that loans of less than $5,000 are limited to repayment terms between one and three years.
- You can get your loan funds immediately: Wells Fargo says you can get same-day approval and funding in most cases. The lender says it can also send direct payments to creditors the same day your loan is funded if you’re consolidating debt. Most lenders now offer same- or next-day funding, but the timeline for sending direct payments to creditors is often several days.
- You can contact customer service 24/7 or visit a branch: If you want the ability to speak to a human at any time or visit a branch, Wells Fargo is hard to beat. The lender has customer service reps available 24 hours a day, seven days a week and over 4,000 locations in the U.S. Many lenders don’t have branch access and only have customer service reps available five or six days a week.
Why Wells Fargo may not be right for you
- You’ll need to be a Wells Fargo customer to apply: Like some other major banks, Wells Fargo limits personal loans to existing customers. You’ll need a Wells Fargo account that’s been open for at least a year to apply for a loan. If you’re not a Wells customer, I’d recommend checking with your bank or credit union about personal loan options or applying with an online lender.
- You’ll need at least fair credit. Wells Fargo doesn’t publish a minimum credit score, but the lender told NerdWallet that it requires fair to excellent credit. Major banks often have fairly strict lending standards, so I don’t think it’s surprising that Wells Fargo primarily accepts borrowers with strong credit. If you can’t qualify for a Wells Fargo loan because of your credit, consider a credit union or online lender that offers bad credit loans.
- You can’t get a secured loan or add a co-signer or co-borrower: Unlike some lenders, Wells Fargo only offers unsecured personal loans. Having the option to apply with a co-borrower or co-signer or secure your loan with collateral can sometimes help you qualify for a loan or lock in better terms when you have less-than-perfect credit.
How much does a Wells Fargo personal loan cost?
The total cost of your Wells Fargo loan depends on the amount borrowed, annual percentage rate and loan term. Here’s an example of how different rates affect the costs of a $25,000 loan with a 5-year term. The lender didn’t disclose the APR range for its typical borrower, so rates are based on its general APR range.
APR | 10% | 20% |
|---|---|---|
Monthly payment | $531 | $662 |
Total interest cost | $6,871 | $14,741 |
Total loan cost | $31,871 | $39,741 |
» MORE: Use our personal loan calculator to estimate your costs
Do you qualify for a Wells Fargo personal loan?
You’ll need to be a Wells Fargo customer with at least fair credit and an account to qualify for a Wells Fargo personal loan. But the lender doesn’t publicly disclose a minimum credit score or other requirements, like its maximum debt-to-income ratio or minimum gross annual income.
Wells Fargo personal loans are available in all 50 states and Washington, D.C. If you’ve had an eligible account for at least a year, you can pre-qualify online, in person at a branch or by calling customer service.
Wells Fargo’s borrowing requirements
- Minimum credit score: None.
- Minimum income: None.
- Maximum debt-to-income ratio: None.
- Minimum credit history: None.
- Must be a Wells Fargo customer for at least a year.
- Must be at least 18 years old (or the age of majority in AL, MS or NE).
Wells Fargo didn’t disclose information about its typical borrower, including their average credit score, annual income or APR range.
» MORE: How to get a personal loan
Frequently asked questions
Q: Does Wells Fargo offer a rate discount?
A: Yes, Wells customers who set up autopay and have an account that's a year or older can receive a discount off their APR of 0.25 to 0.5 percentage points.
Q: What's the most common reason for getting a Wells Fargo personal loan?
Wells did not share information about its average borrower with NerdWallet, including the most common loan purpose, amount or term. Other lenders say debt consolidation is a common reason to get a loan.
Q: What’s the difference between the APR and interest rate on a personal loan?
A: A personal loan annual percentage rate (APR) is the combined total of the interest rate plus the origination fee, calculated on a yearly basis and expressed as a percentage. APR is important because it shows you the full cost of borrowing over one year. It’s usually the best point of comparison if you’re comparing multiple personal loan offers.
How does Wells Fargo compare to the best lenders?
 |  |  |  |  |
|---|---|---|---|---|
Est. APRFrom 6.74% to 26.74% | Est. APRFrom 6.99% to 35.49% | Est. APRFrom 5.96% to 35.99% | Est. APRFrom 7.24% to 24.89% | Est. APRFrom 7.74% to 35.99% |
Loan amountFrom $3,000 to $100,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 |
Min. credit scoreNaN | Min. credit scoreNaN | Min. credit score600 | Min. credit score660 | Min. credit score600 |
How we rated this lender
NerdWallet’s editorial team rates lenders using a rubric with five weighted categories and 29 subcategories. Here are the factors we prioritized, plus why this lender received each score.
Wells Fargo offers low APRs, no origination fee and rate discounts to customers with a checking or savings account who sign up for autopay.
Our Method: We review lenders’ rates and fees, plus any opportunities for rate discounts.
Wells Fargo lets you choose and change payment dates and has 24/7 customer support, but it doesn’t disclose which credit bureaus it reports loan payments to.
Our Method: We look at factors such as customer service availability, monthly payment flexibility and whether the lender reports on-time payments to major credit bureaus.
Wells Fargo offers a variety of loan amounts and repayment terms, plus direct payments to creditors, but only unsecured personal loans are available.
Our Method: We assess loan amount and term ranges and whether lenders offer multiple loan types or direct payment to creditors on debt consolidation loans.
Wells Fargo lets you pre-qualify with a soft credit check and offers loans in all 50 states, but you’ll need to be a customer for at least a year.
Our Method: We consider how widely available and accessible the loans are and how lenders review applicants’ credit.
Wells Fargo loans have same-day approval and funding, but its pre-qualification doesn’t offer a few key details.
Our Method: We evaluate loan approval and funding times and the lender’s transparency throughout the application process.
Read more about our ratings methodologies for personal loans.
Learn more about personal loans
