However, third-party sources report that Wells Fargo may charge a $39 late payment fee to customers who make a payment more than 10 days after it’s due. Wells Fargo does not disclose exact fee amounts on its website. Wells Fargo personal loan borrowers don’t have to pay any prepayment penalties if they choose to pay off their loan early.
Some lenders charge prepayment penalties if borrowers pay off their loans before the due date. Personal loan origination fees cover the costs of processing an application and verifying the applicant’s income, as well as other expenses related to underwriting and even marketing. Wells Fargo does not charge any origination fees or closing fees on personal loans. The discount amount depends on the type of account. Applicants with a qualifying Wells Fargo checking account can earn a 0.25% or 0.50% relationship discount by signing up to make automatic payments from their Wells Fargo deposit account. Wells Fargo reports that at least 10% of approved borrowers qualify for the lowest available rates. The most competitive rates are reserved for applicants with excellent credit. APRs are based on the loan size, loan terms, and applicant creditworthiness, and range from 5.74% to 19.99%, including a 0.25% relationship discount. Terms from 12 to 36 months are available for personal loans ranging from $3,000 to $4,999 12- to 84-month terms are reserved for personal loans from $5,000 to $100,000.
Wells Fargo personal loan borrowers can access flexible terms from 12 to 84 months, depending on the loan amount. Wells Fargo offers personal loans from $3,000 to $100,000, making it one of the most flexible lenders in terms of available loan amounts.
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