Wells Fargo Personal Loan Review 2022

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Wells Fargo landed in hot water several years ago when it was revealed that employees had created millions of fraudulent accounts in order to make their sales targets.

Increased consumer acceptance of online banking, where customers can expect better interest rates and mobile apps, has also posed a problem for Wells Fargo, whose core checking account is not interest-bearing and whose savings account earns a meager 0.01% APY.

On top of that, large banks like Citibank and Capital One have finally begun to embrace a no-overdraft-fee policy, but Wells Fargo lags behind. The bank has announced some changes to overdraft fees but so far no complete elimination.

It’s fair to say that Wells Fargo has a consumer perception problem. However, while Wells Fargo’s bank account options are less than desirable and the brand is still working to regain consumer trust, the Wells Fargo personal loan offering is decent.

Check out The Penny Hoarder’s Wells Fargo review for a full run-down of the bank’s features and offerings.

Wells Fargo Personal Loans

Best for Current Wells Fargo Customers

Key Features

  • No origination fees
  • Large loan amounts
  • Decent APR

Wells Fargo offers a solid personal loan option. With APRs that are capped at 19.99% (many competitors go up to 35.99%) and loan amounts as large as $100,000, Wells Fargo personal loans can be a top offer. The lack of origination fee and Prepayment penalties are also a bonus.

Wells Fargo Personal Loans

APR

5.74% to 19.99%

Loan terms

1 to 7 years

Loan amounts

$3,000 to $100,000

Origination fees

n/a

Prepayment Penalty

n/a

Minimum credit score requirement

Not disclosed

Wells Fargo Loans: At a Glance

Personal loans are just one of the loan options offered at Wells Fargo. Borrowers can turn to Wells Fargo for:

  • Home loans
  • Auto loans
  • Credit cards
  • Personal loans

While you can get a personal loan for any use case, Wells Fargo specifically advertises home improvement loans and debt…

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