Home Credit report Wells Fargo Personal Loan Review 2021 – Forbes Advisor

Wells Fargo Personal Loan Review 2021 – Forbes Advisor


The best personal loans offer competitive rates, flexible loan amounts, and a wide range of terms. Here’s how Wells Fargo personal loans compare to other popular lenders:

Wells Fargo versus. SoFi

Similar to Wells Fargo, SoFi offers loans ranging from $ 5,000 to $ 100,000, making it a great option for a wide range of borrowing needs. APRs on SoFi personal loans start at around 6% with auto-pay – slightly higher than the lowest rate available through Wells Fargo – and go up to around 20% with auto-pay, similar to Wells Fargo. SoFi also doesn’t charge origination fees or prepayment penalties, but unlike Wells Fargo, SoFi customers don’t pay late fees.

Wells Fargo versus. LightStream

LightStream personal loans are available from $ 5,000 to $ 100,000, depending on the purpose of your loan, which is similar to Wells Fargo’s offers. However, for some loans, LightStream APRs start below 3% with auto-pay, much lower than Wells Fargo’s lower rates.

LightStream’s loan terms are also extremely flexible, and borrowers can repay a loan over two to 12 years depending on the size, purpose and creditworthiness of the loan. As with Wells Fargo, LightStream does not charge origination fees or prepayment penalties.

Wells Fargo versus. American Bank

The US bank offers a smaller range of loan amounts than other major lenders, with loans available from just $ 1,000 to $ 50,000, half of the maximum loan amount offered by Wells Fargo. The APRs available through US Bank are similar to those offered by Wells Fargo and range from approximately 7% to 19%.

The funds can be used for any purchase or product, but loans are limited to US bank customers with a FICO credit score of 660 or higher. Like Wells Fargo, there are no origination fees or prepayment penalties.

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