Find the Best Personal Loan for Your Needs
What is Wells Fargo?
Wells Fargo is an international American financial institution. They have been proving many financial services to its clients since 1852. They are headquartered in San Francisco and are one of the most renowned banks in America. Their services are extensive, and it is no wonder that many individuals turn to them for their banking and financial needs.
Do They Offer Personal Loans?
Personal loans ranging from $3,000 to $100,000 are offered. These types of unsecured loans are usually provided by financial institutions, to consolidate debt, and also for funding life-changing events. They typically provide individuals with the opportunity to gain a handle on their finances by receiving funds in addition to what they presently own.
In comparison to other financial institutions, they offer a fixed rate and term, which permits a fixed monthly payment. Their interest rates range from 6.99% to 23.99% APR. The rate received is based on the client’s credit history and rating.
The benefits of using Wells Fargo for a personal loan is that do not charge an origination fee or a prepayment penalty. Clients can anticipate paying the monthly amount that was agreed upon signing minus the surprise of supplementary fees.
For existing and qualifying clients of Wells Fargo, they can expect to receive a relationship discount as long as they agree to have automatic payments deducted from their account monthly. Such an advantage enables clients to save money and benefit from the services offered by Wells Fargo.
How Do I Apply?
To sign up for a personal loan, the application process is not tedious. Applicants are welcome to apply online for quick loans, via telephone or at a local branch. However, to receive any form of personal funding from Wells Fargo, individuals must be existing clients. If they are not, they are encouraged to visit a local branch to open an account.
For those that are members of Wells Fargo, they can log into their account and follow the prompts provided. Once they have logged in, verified their information, and have responded to loan inquiries, they can expect to receive their funds the following business day once they are approved.
The advantage to this, is that clients to do not have to wait exceptionally long to receive funding. If it is an emergency, money can be obtained almost instantaneously.
Useful tools and features such as their online calculator is offered to clients which enables them to review their options before applying for a personal loan. In addition to their unsecured personal loans, they also provide secured personal loans, which permit individuals to use other assets such as their savings account as collateral. This option allows patrons to preserve their savings, receive better interest rates, and avoid early withdrawal penalties.
Robert is our in-house expert on personal loans and finance. He got an MBA, specializing in Finance, before joining the workforce. After working for multiple Fortune 500 companies in the past decade, he brings a wealth of knowledge and experience to the table.