![]() ![]() ![]() You can get your money as soon as the next business day with Wells Fargo depending on when your application is approved. To get an unsecured personal loan, you don't need collateral, like a house or a car. Wells Fargo offers unsecured personal loans that can be used for many reasons, including debt consolidation, home improvement, and major purchases. Other personal loan lenders don't charge any late fees. Wells Fargo will charge up to $39 if you make a payment late. Non-customers must apply by visiting a branch and talking with a banker. Only current customers are eligible to apply for loans through Wells Fargo's online portal or by phone. No online applications for non-customers.Unlike the auto-pay discounts offered by many other lenders, Wells Fargo only offers rate discounts to customers who have a checking account with the bank, and who make their loan payments automatically through that checking account. Discounts only available for customers.Wells Fargo has been at the heart of numerous scandals over the past several years, including creating fake bank accounts to meet sales goals, predatory lending practices to minorities, and overcharging customers on home and auto loans. A history of mismanaging customer information.Additionally, you can pay off your loan early if needed. Origination fees are taken out of your overall loan proceeds. No origination fee or prepayment penalty. You won't have to worry about origination fees with Wells Fargo.For example, you can borrow up to $35,000 with Discover and $40,000 with Marcus by Goldman Sachs. You can borrow up to $100,000 with Wells Fargo, which is significantly higher than many other comparable lenders. Instead of the more common auto-pay discounts offered by lenders to anyone who sets up automatic payments on their loans, Wells Fargo offers discounts to current customers who pay their loans through their consumer checking accounts. Other large banks like Chase and Bank of America don't offer personal loans. ![]() If having a well-established lender is important to you, Wells Fargo is one of the oldest and largest institutions you can use. Wells Fargo Personal Loan Pros and Cons Wells Fargo Personal Loan Pros If your finances aren't in great shape and you're worried you'll get stuck with a higher rate, you might consider a different lender. Your maximum rate with Wells Fargo is 23.24%. ![]() You'll need to have good credit to qualify for the lowest rates, though. You can get a rate of 6.99% with Wells Fargo, while the lowest APR you can receive Marcus by Goldman Sachs is 6.99%. Wells Fargo has a slightly lower minimum APR than comparable lenders. Wells Fargo personal loan amounts range from $3,000 to $100,000 and can be paid back over one to seven years, depending on what terms you and the lender agree to. Wells Fargo Personal Loan Amounts and Interest Rates The best personal loan for you depends on your credit score, which will determine what you qualify for and can lower your rate. However, if you're not a current customer, you can't apply for a personal loan without visiting a branch. The bottom line: Wells Fargo personal loans are a good choice if you need a significant amount of cash, as you can borrow up to $100,000 with the lender. Read Our Review A looong arrow, pointing right ![]()
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