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5.8

Overall Score

LAST UPDATED: August 10th, 2023

Based out of San Francisco, California, Wells Fargo Bank NA is a financial institution that services all states across the United States. Wells Fargo has over 9,000 Nationwide branches with a broad range of services for the consumer to choose from: Checking and Savings Accounts, CDs, Mortgage Loans, Home Equity Loans, Student Loans, Auto Loans, Credit Cards, and Personal Loans along with numerous other options in the Small Business and Commercial banking and lending categories. Outside of traditional financial needs, Wells Fargo also offers services for the consumer to invest as well as insure themselves, their cars, and their homes. With so much to offer and with a wide range of services, Wells Fargo is leading the financial industry in providing nationwide banking and lending services to consumers.

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The Good

  • $100,000 Max Loan Amount
  • 5-Year Max Loan Term
  • Competitive Rates*
  • No Hidden Fees
  • Fast Approval Times

$100,000 Max Loan Amount

Wells Fargo assists consumers by offering them the opportunity to take out loans between $3,000.00 and $100,000.00 depending on the consumer's credit and debt to income ratio. This, of course, can be used for debt consolidation, home renovations, planning a wedding, an auto loan, student loans, car repairs, medical bills, or unexpected emergencies.

5-Year Max Loan Term

The maximum loan term for a personal loan through Wells Fargo is five years. Wells Fargo offers their loans for terms as short as twelve months and up to sixty months. In comparison with other lending companies, this is average/competitive. The industry does not vary a lot when it comes to loan terms and many other companies have this same standard of 12- to 36-month loan terms. Other smaller companies might offer a year or two difference in favor of extending a loan, but as for the larger companies that provide many different services to their customers, a five-year loan is standard.

Competitive Rates*

On average, Wells Fargo's personal loans receive an interest rate between 7.25% and 9.25% (*though these values are unconfirmed). This rate can be lower or higher depending on varying factors. For example, a loan for a higher amount over a longer period of time can have an interest rate as low as 5% through Wells Fargo personal loans. These rates are very competitive against other lending companies, especially in comparison to other large financial banks. Companies such as CitiBank have interest rates up to 15% on personal loans. This gives Wells Fargo a huge advantage in the benefits that it provides its customers.

No Hidden Fees

Wells Fargo Bank does not charge Loan Origination Fees, and there are never any Prepayment fees if the consumer chooses to pay the loan off prior to the contracted date.

Fast Approval Times

The majority of the bank's loan approvals happen the same day the application is submitted. Wells Fargo even promises that loan approvals can happen within fifteen minutes of the time they are completed and funds can be made available shortly after that, guaranteeing same day fund availability. This is a huge benefit to customers and one that beats out their bigger name competition without comparison. Other large banks have a several day approval time frame and funds for personal loans are also made available within several business days. The only other companies that can compare to Wells Fargo's speedy process are smaller; exclusively online loan companies and many of them do not have the same reputation and financial stability as a big company like Wells Fargo.

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The Bad

  • Application Process for Non-Members

Application Process for Non-Members

Currently, Wells Fargo only accepts applications for unsecured personal loans or lines of credit online or over the phone from existing members. If you are not already an account-holder, you may have issues applying for a loan if you live in one of the states where this bank doesn't have a physical presence: 

  • Hawaii
  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Massachusetts
  • Michigan
  • Missouri
  • New Hampshire
  • Ohio
  • Oklahoma
  • Rhode Island
  • Vermont
  • West Virginia

View Best Personal Loan Companies

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The Bottom Line

Wells Fargo clearly has both good and bad qualities to its personal loans. Overall, it is a top-notch institution. With average interest rates, flexible loan terms, amounts, no hidden fees, and a strong desire to give consumers the best possible experience, Wells Fargo definitely has the policies in place to gain consumer confidence and trust. Current customers of Wells Fargo may be eligible for additional benefits should they decide to get a loan through the bank. Current customers looking for a loan should definitely go to Wells Fargo first. All other customers should check out our top recommended companies for their personal loan needs.

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Star Rating

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4.5

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72 Reviews

Review Breakdown

5 grade

60%

4 grade

22%

3 grade

10%

2 grade

1%

1 grade

7%

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Peter Land O' Lakes, FL

I have been with Wells Fargo for 23 years. My ex-wife was with them for about 15 years. They are fantastic in all respects! Never any fees for ATM(unless you use another banks, ATM), savings, checking accounts.Always available in person, Internet, phone and texts, the online app or emai. just regular email & texts. They have a 24 hour fraud line that they have taken care of problems I had getting hacked. All problems were resolved, and all funds were returned promptly. Many locations in my area. The only downside at one point was a few security issues and they have since taking care of that. Great company! Great product!

7 months ago

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C B La Puente, CA

WellsFargo has been there for me since I was 18! They helped build my credit, the agents are always kind and whenever I needed a loan, they were there! The loan process was easy and their monthly payments were affordable!

6 months ago

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Coffee 1234 Meridian, ID

I applied for a personal loan from Wells Fargo and I give five star review because I had loan officer in contact with me during the entire process I applied it was very easy I have good great it's about average it helped me was that I already had on credit with Wells Fargo in the past so that helped me so I give them a five-star because the process was very simple and I was able to achieve my goals

10 months ago

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Christopher M Harper Katy, TX

I have been with Wells Fargo for almost 20 years. During that time I have had the opportunity to experinence a number of their services, loans, personal banking, business banking, investments etc. On each occassion I have discovered that they provide excellent service, especially when you visit them within the bank to the point where they develop a personal relationship with you, leaving a sense of feeling supported. Their loans were equally as good to work with. On the investing side, they take the personal relationship a step forward and develop relationships with their clients and provide tremendous support. I am still with Wells Fargo, and I have my business banking with them too!

1 year ago

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Sheila Burns Dickson, TN

In the past, I had a mortgage and personal loan along with a credit card as well. They were very helpful with my needs and I would definately use them again for all my personal needs.

10 months ago

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Sean DiMaria Columbia, SC

I was approved for a loan from Wells Fargo for a purchase related to home improvement. It was easy to get the loan approved and the initial terms were good as long as the loan was paid off within 12 months; however the interest rate beyond that was high.

10 months ago

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Ronald Schaffer Schnecksville, PA

We've installed Laef Filter rainspout and accesories to our hous. It's financed through Wells Fargo credit. We got approved as the leaf filter salesman was here through your company. I've mad two easy payments online through the Wells Fargo Credit program offered to me and my mother. So far the service has been very good and to our liking. THANKS SOOOOOOOOO MUCH!!!!!!!!!!!!!!!!!!!!!!!!

1 year ago

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Nam

I use Wells Fargo for my auto loan and they've been great. When I bought my car, everything was already setup online and all I had to do was login and verify a few things. The website has since changed, and the layout is much more user friendly. The customer service is also outstanding. Overall, I would recommend Wells Fargo if you're looking for a personal loan.

1 year ago

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michael L Wallace Arlington, TX

I needed a personal loan to repair our pool that was leaking. I use Wells Fargo for my checking account. I found the representative at Wells Fargo loan department to be very knowledgable and the helpful in helping me secure my loan. The representative was sensitive to my needs, and helped me secure the loan at a good interest rate in a timely manner. Thank you Wells Fargo.

1 year ago

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Christina Sutu-Wallar Fresno, CA

I’ve used Wells Fargo for my banking needs, and I’ve had a credit card with them, for over 20 years. When I was looking for a personal loan, it made sense for me to go to them first. As always, they offer amazing products, services, and really try to tailor everything to what you specifically are looking for. They do not cookie-cutter their clients which I appreciate.

1 year ago

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David Wilhelm Escondido, CA

Wells Fargo Bank is our primary bank who we use for most all of our financial services needs. They are very customer oriented and helpful and provide multiple loan options to consider when applying for a personal loan. In addition, the personal bankers are consultants who ask good questions to identify the type of loan that best meets our needs in terms of APR, repayment period and amount borrowed. Keep up the great work !

1 year ago

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Johnny Sigmon Cumberland, MD

Like to say thanks alot wells Fargo for being there for me when no outher Banks was so I'm proud to give Wells Fargo five stars ⭐⭐⭐⭐⭐ I'm happy to say that wells Fargo is my bank. Thanks John sigmon

10 months ago Edited April 27, 2023

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frank kories Souderton, PA

Customer service is very nice and very helpful. If I had any troubles, they were able to work with me to make things work out. Very happy. This is Bank. The online banking part is very easy to use and navigate very helpful. I have a bank account with them easy to transfer to loans.

1 year ago

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Bridget Walker Gulfport, MS

Wells Fargo is a great bank. They help you get the money you need when you need it. They make it quick and easy as well. I've been banking with them for 5 years now and I highly recommend them. They make your dreams a little easier to achieve.

1 year ago

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Matthew Laney San Diego, CA

I received a personal loan from Wells Fargo several years ago. The terms were fair , the interest rate was decent and the customer service reps were cordial and knowledgeable. When I needed to postpone a payment they were helpful and solutions oriented.

1 year ago

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CMWitt Black Earth, WI

My experience with Wells Fargo was good. I am a customer so they have essential information on file before I applied for a loan, I only needed to supply the additional information. My lender was friendly and helpful. The loan was smaller and the funds placed directly into my account.

1 year ago

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Ted Johnson Pleasant Grove, UT

They have great customer service and bend over backwards to take care of the customer and put the customer first. They made it easy to do the approval and I can access the funds and pay them back at my convenience and I only have to pay when I have a balance. It works great for me.

4 years ago

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nathan brewer Lehi, UT

We decided we wanted to build our own house and couldn't get a conventional construction loan. When we went to Wells Fargo they taught us how we could get a personal loan by getting a home equity loan. We have been able to use that to build a house and start a rental company building and renting homes. It has helped us soo much.

5 years ago

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Joseph Scottsdale, AZ

Got a personal loan from Wells Fargo, the rate was good, customer service was good. Overall good experience

8 months ago

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Christina Holmes Troy, MI

Obtained a loan for home improvements. Loved the ease of using the app and communicating with customer service. Never had issues and ended up applying for other products with Wells Fargo based on satisfaction.

1 year ago

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Ed Alfaro Phoenix, AZ

I took out an unsecured personal loan from Wells Fargo a number of years ago. I remember that the loan rate was fair as it was based on my high credit score and long employment history.

1 year ago

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Brenda Anderson Dallas, TX

Had a great experience with Wells Fargo. I took out a 25,000 home improvement loan. They were always professional and easy to use. I would go with them again. No problems or pressures. Put me at ease!

1 year ago

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Debbie Prevo Dayton, OH

Applied online, within 24 hrs I got a phone call to finish the application and a check was mailed to me. I call in to the automated system to make my payment and it’s super easy

1 year ago

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Aubrey Greenville, SC

I've used Wells Fargo for years and just barely took advantage of their personal loan program. I got a great interest rate and I loved their consultants, I genuinely felt taken care of.

1 year ago

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MONSTER CANINE FLORIDA Saint Augustine, FL

I am a Wells Fargo Business account holder and I have had nothing but great experiences with Wells Fargo. Staff is nice too ‼️

9 months ago

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Stephanie Traverse Castlewood, VA

I liked the fact that Wells Fargo was so quick to help me when I needed to consolidate and get one personal loan! The process was so easy!

9 months ago

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L Turner Indianapolis, IN

I needed to get a new home AC unit and Wells Fargo helped with financing. I was able to get 36 months no interest which helped a ton during hard times.

1 year ago

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Demetrace Williams Milwaukee, WI

5 star service. Wells Fargo went over and beyond. It was a lot of paperwork, but they guided me all the way. I would recommend Wells Fargo for any loans that you may need.

1 year ago

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MRCONSULT Los Angeles, CA

Telefone procedure is relatively long and annoying, waiting time sometimes 30 minutes, but after that handling of loan is very easy and process is well documented.

1 year ago

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Faith L Niles, MI

Appreciated their rates for my loan and their availability if I had a question about anything loan related.

9 months ago

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AM L NC

I am very satisfied with the handle of our loan in Wells Fargo. The costumer service is very helpful and friendly. Good communication between us.

1 year ago

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Erinmarie Xian Seffner, FL

I liked the easiness of applying and getting approved fast. I think having a mortgage with Wells Fargo probably helped.

1 year ago

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WEAM SUWAED New York, NY

Great service, communication were great with agents, easy to make payments online. Handling my personal informations professionally and safely.

1 year ago

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Daniel Fowler

Simple and very easy to work with Wells Fargo. They took care of me from day one and using the web made everything very easy.

1 year ago

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Laura Mccall Sacramento, CA

Wells Fargo was very helpful even though I didn't qualify they were still super helpful and customer service was really nice

1 year ago

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Bess Wilfong St Louis, MO

I had a good experience with Well Fargo. They were upfront in disclosing details and communicated regularly.

1 year ago

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Terri Kingman, AZ

Great APR rate, worked within my budget, got low interest rate.. Customer Service was excellent & supportive

1 year ago

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Eva Salazar Lubbock, TX

Very easy to work with and set up. Good communication and fast turn around time.

1 year ago

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Frank Rivera Peabody, MA

Secured a personal loan to consolidate credit card debt. Wells Fargo gave me an impressive rate!

1 year ago

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Daisy May Minneapolis, MN

I was able to get a loan quickly and professionally, I didn’t have the loan long.

1 year ago

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Bob Abaya South San Francisco, CA

Really great products, excellent customer service, and addresses my needs and concerns.

1 year ago

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Anthony Laprocina St Louis, MO

They have worked with me thru COVID. A lot better than I would of expected!

1 year ago

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Karen Cunningham Ocala, FL

Easy process and customer service very friendly

1 year ago