Looking for a secured personal loan with access to a large loan amount and quick turnaround? The Wells Fargo Personal Loan lets applicants borrow up to $100,000 within a 3-year term.
This loan product offers free access to credit score, to determine creditworthiness. Additionally, borrowers can also setup a direct payment for a hassle-free payment. To secure the loan, borrowers can add a co-signer.
Interested to apply for the Wells Fargo Personal Loan? Get to know the features, fees and charges, application process, and bank contact information. Read on to find out if this loan product is suited for your budget.
Features of Wells Fargo Personal Loan
It is important to know that Wells Fargo only allows two types of borrowers: those who have an existing, good-standing bank account, and non-customers with excellent credit score, low debt-to-income ratio, and high income.
If you qualify to the said metrics, you may access a loan amount up to $100,000 for personal reasons, including home renovation, trip abroad, education, and others. Wells Fargo helps borrowers to manage their debt, lower monthly payments, and reduce overall interest.
Some of the interesting features of the Wells Fargo Personal Loan include a fixed rate and fixed monthly payment. This helps borrowers to know how much money they need to pay for the loan monthly.
Another highlight of this personal loan is the ability to earn a discount rate for setting up an automatic payment. Earn a 0.25 percent interest discount if you have a qualifying checking account and set up auto-pay.
How to Apply
There are three ways to apply for the Wells Fargo Personal Loan. Applicants can use the online application facility on their website to submit an application, meet with a banker at a Wells Fargo branch, or apply through phone by dialing the hotline 1-877-526-6332.
To qualify for the Personal Loan, applicants need to have an existing account. Note that the co-applicant needs to have a better score to get approved of the loan product.
The credit decision is usually faster online, minutes after submitting an application. However, it is depends on an applicant’s financial circumstances. The bank needs to verify provided information and may request for additional supporting documents.
Wells Fargo Personal Loan Interest and Fees
The representative APR for the Wells Fargo Personal Loan is 5.99 percent to 24.49 percent, depending on the loan amount, applicant’s creditworthiness, and the repayment term. It includes a relationship discount of 0.25 percent, with a low APR of 5.74 percent.
The Wells Fargo Personal Loan doesn’t have an origination fee and prepayment penalty.
Note that the monthly payment comes from the principal and interest for the life of the loan. This amount varies depending on the amount you borrow, length of time or term of the loan, and the interest rate.
Contact Information
Applicants can contact a Wells Fargo representative for loan queries and other concerns. Dial 1-877-526-6332 to talk to a bank representative and get assistance for the loan application. We have also listed the Wells Fargo headquarters address below.
Wells Fargo Corporate Offices
420 Montgomery Street
San Francisco, CA 94104
Conclusion
Apply for the Wells Fargo Personal Loan to borrow up to $100,000 personal loan with a payment term up to 3 years for an unsecured loan and 10 years for a secured loan. For more information on the Wells Fargo Personal Loan, visit the website of Wells Fargo today.
Disclaimer: There are risks involved when applying for a loan. Please see the bank’s Terms and Conditions page for more information.