Thinking about a personal loan for a major purchase or life expense? Our in-depth Wells Fargo Personal Loan review breaks down everything you need to know — from key benefits and potential drawbacks to how much you could qualify for.

Discover whether this loan fits your financial goals — and what to expect before you apply. Let’s dive in!

Wells Fargo’s Personal Loan is a flexible and accessible option for those looking to finance meaningful goals or tackle major expenses.

Whether you’re renovating your home, consolidating debt, or covering a large purchase, this loan is designed to give you the financial breathing room you need—without unnecessary complications.

You can borrow amounts ranging from $3,000 to $100,000, with repayment terms stretching from 12 to 84 months.

With minimal fees and the backing of a well-established institution, this loan provides a straightforward path to getting the funds you need with terms that fit your budget.

One of the biggest benefits of a Wells Fargo Personal Loan is that the fees are extremely low.

Therefore, you won’t have to worry about origination, closing, or early payment fees.

Additionally, Wells Fargo promises same-day approval and flexible repayment terms that make adjusting your payments to meet your budget easy.

Indeed, previous customers can qualify for a rate reduction upon signing up for autopay.

A Wells Fargo Personal Loan suits whatever purpose you want, such as home improvements, debt consolidation, and major purchases.

However, like every financial decision, there are pros and cons to consider before making a decision. So check them out.

Online applications limited to existing customers

Credit requirements not clearly stated

Late payment fees can be high

Doesn’t send payments directly to creditors

Tougher approval for low credit scores

Wells Fargo doesn’t officially disclose the minimum credit score needed to qualify for a personal loan, which can make it a bit tricky for borrowers to know where they stand.

However, like most major lenders, they tend to favor applicants with solid credit histories and responsible financial behavior. While there’s no set number published, having a good to excellent credit score — typically considered 670 or higher — can greatly improve your chances of approval.

In addition to your score, Wells Fargo may also consider your income, existing debt, and relationship with the bank when making a decision. So, even if your credit isn’t perfect, other factors might still work in your favor.

Applying for a personal loan can feel overwhelming, especially if it’s your first time. But the good news is that the process with Wells Fargo is designed to be straightforward and user-friendly — especially for existing customers.

If you’re wondering what to expect before you get started, here’s a quick look at how the application works, step by step.

Firstly, to apply for a Wells Fargo Personal Loan, you must be a Wells Fargo customer. If you are not a customer, then you can visit their branch and make an appointment.

Further, let’s examine the two ways to apply for Personal Loans.

This method is best for those with an existing Wells Fargo account. It’s quick and saves time.

Thus, all you have to do is log in to your account and select the ‘Check rate’ option.

After seeing your rates, your info will be already filled out in the application form, so you only need to provide a few details.

Finally, if you are satisfied with the rate, go ahead and answer a few more questions and close the deal.

Secondly, you can choose to insert your info manually. The process is similar to the first option.

The only difference is that you will fill out the form with your personal and financial information, employment details, and income information.

Indeed, to apply for Wells Fargo Personal Loans, you must be a customer. Also, you need to keep the following documents ready:

Unfortunately, applying for Personal Loans using the Wells Fargo Mobile App is impossible. 

Wells Fargo is a large national bank, while OnPoint is a regional credit union.

On the one hand, Wells Fargo may offer higher loan amounts and longer repayment terms, while OnPoint may have lower rates and fees.

The best option depends on your financial circumstances and preferences. So compare these personal loans below.

Don’t miss our upcoming article to learn more about OnPoint Community Credit Union Personal Loan. Furthermore, the article will provide a step-by-step process for applying.