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Loan for life events

Popular loan uses

Personal loans can be used for a variety of purposes. Learn about common uses such as debt consolidation, emergency funds, home renovations, and life events.

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Get the funds you need with a personal loan

Check your rate and explore loan options with no impact to your credit score.

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Reach your goals with a personal loan

Explore personal loans from $3,000 to $100,000
  • Fixed-rate personal loans with terms from 12 to 84 months can help cover large expenses, consolidate eligible high-interest debt , or pay for emergency expenses 
  • Same-day credit decisions for some applicants, no origination fee, no closing fee, and no prepayment penalty
  • Rate discounts with AutoPay from qualifying Wells Fargo accounts
  • Most customers receive funds the same day they're approved
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How to put your personal loan to work

What you need to apply

Start with the checklist

Start with the checklist

Check out the personal loan rate calculator

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Get an estimate

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FAQs about loans for major life events

Personal loans can be used for many purposes, including helping to fund life events and milestones such as weddings, celebrations, and big trips. Other common uses for personal loans include debt consolidation, home improvement, and emergency expenses. People with large medical bills or who want to have elective procedures not covered by insurance may also turn to personal loans. Many lenders place few restrictions on how borrowers can use their personal loan funds, but may apply for certain purposes, such as higher education expenses, home purchases, or illegal activities.

Personal loans can be a good option for debt consolidation2 for a couple of reasons. First, if you can pay off existing debt that has a higher interest rate than the personal loan, that may reduce the total interest you pay over the life of the debt. Consolidation also rolls several monthly bills into one payment, which may simplify the repayment process. Additionally, debt consolidation loans have predictable payments and a clear end date.

Personal loans can be used for expenses like weddings or other life events, medical costs, or home improvements or repairs. However, permitted uses vary by lender, so it’s a good idea to confirm that your intended use is allowed.

Borrowing for a big expense is an option that can give you access to funds to help you move forward, but it’s important to think about how it will impact your finances. When you borrow, it’s also important to weigh the additional costs involved and create a plan for managing your repayment.

Choosing between a personal loan or a credit card for a large purchase depends on your situation and personal preference. Each option has pros and cons. If you prefer making predictable monthly payments and having a clear end date, and can qualify for a competitive interest rate, a personal loan could be the better option. Credit cards may have higher annual percentage rates (APRs) than personal loans, depending on the card and your credit profile.

Getting approved for a personal loan and receiving funds can move quickly depending on the lender’s process and your application details. For example, some lenders like Wells Fargo offer same-day approval5 for some borrowers, as well as same-day funding based on the loan’s terms.

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Representative example of repayment terms for an unsecured personal loan: For $15,000 borrowed over 48 months at 14.99% Annual Percentage Rate (APR), the monthly payment is $417. This example is an estimate only and assumes all payments are made on time.

Before you apply, we encourage you to carefully consider whether consolidating your existing debt is the right choice for you. Consolidating multiple debts means you will have a single payment monthly, but it may not reduce or pay your debt off sooner. The payment reduction may come from a lower interest rate, a longer loan term, or a combination of both. By extending the loan term, you may pay more in interest over the life of the loan. By understanding how consolidating your debt benefits you, you will be in a better position to decide if it is the right option for you. New credit accounts are subject to application, credit qualification, and income verification.

Late fees may still be assessed.

To qualify for a customer relationship discount, you must have a qualifying Wells Fargo consumer checking account and make automatic payments from a Wells Fargo deposit account. To learn which accounts qualify for the discount, please consult with a Wells Fargo banker or consult our FAQs. If automatic payments are canceled, for any reason at any time, after account opening, the interest rate and the corresponding monthly payment may increase. Only one relationship discount may be applied per application.

On average, 97% of customers received their funds the day they signed for their personal loan. (Based on data from July – September 2026).

You must be a Wells Fargo account holder of an eligible Wells Fargo consumer account with a FICO® Score available, and enrolled in Wells Fargo Online®. Eligible Wells Fargo consumer accounts include deposit, loan, and credit accounts, but other consumer accounts may also be eligible. Contact Wells Fargo for details. Availability may be affected by your mobile carrier's coverage area. Your mobile carrier's message and data rates may apply. 

Please note that the score provided under this service is for educational purposes and may not be the score used by Wells Fargo to make credit decisions. Wells Fargo looks at many factors to determine your credit options; therefore, a specific FICO® Score or Wells Fargo credit rating does not guarantee a specific loan rate, approval of a loan, or an upgrade on a credit card.

Wells Fargo and Fair Isaac are not credit repair organizations as defined under federal and state law, including the Credit Repair Organizations Act. Wells Fargo and Fair Isaac don’t provide credit repair services or advice or assistance with rebuilding or improving your credit record, credit history, or credit rating.

FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.

Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

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