How to apply for Wells Fargo Personal Loan

Wells Fargo offers one of the top personal loans in the United States, making it a really suitable option for customers looking to secure funds for a variety of purposes.

With the ability to borrow up to $100,000 and repay the loan over seven years, the bank’s personal loans come packed with numerous benefits that make them a standout choice.

Check out the requirements and a step-by-step guide to applying for the loan that can change your life.

Who can apply for Wells Fargo personal loans?

The requirements for the application are fairly standard but can vary from client to client. First, you must be a US citizen or permanent resident and be at least 18 years old.

You’ll also need a good credit score. While there’s no set minimum credit score requirement, having a score of at least 660 is recommended for the best chances of approval.

Additionally, Wells Fargo will require a reliable source of income and a debt-to-income ratio below 40%. 

How do I apply for Wells Fargo personal loans?

Have you matched all the requiriments? If so, you can apply online on Wells Fargo’s website, just follow the step-by-step guide below:

• Visit the Wells Fargo Personal Loans page and click “Apply Now.”
• Enter your personal information and create an account if you don’t already have one.
• Enter your loan details, including how much you want to borrow and for what purpose.
• Review and submit your application.

Before accepting an offer, it is crucial to review all the terms and conditions of the loan agreement. Since all additional charges and penalties are explicitly mentioned in the loan’s contract, attention must be paid.

Now you just wait until Wells Fargo reviews your application. The bank typically makes a decision within a few business days. If approved, review and sign the loan agreement and receive your funds via direct deposit.

Looking for other lender? Check out Citizens Bank’s Personal Loan!

Citizens Bank is another great option for clients seeking a personal loan. Their loans can also be used for a wide range of reasons, including debt consolidation, travel, investments, medical needs, and much more.

The loan amounts range from $5,000 to $50,000, and repayment terms are one of the most favorable in the US, with some clients getting up to 7 years to pay back their loans.

However, the actual repayment plan depends on several factors, such as your credit history and the amount borrowed.

Citizens Bank also provides both secured and unsecured loans. On the other hand, the institution has a strict policy when it comes to their client’s credit history.

Citizens Bank usually asks for a score of 680 or more to approve an unsecured loan and also considers your debt-to-income ratio.

Other Citizens Bank advantages include

• Easy application process;
• Credit release within 2 business days;
• Fixed interest rates;
• APR starting at 3.74%.

How to apply for Citizens Bank?

If you’re interested, check out our review on how to apply for the Citizens Bank personal loan.

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