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Planning your loan

Before you apply for a personal loan

Learn what you need to qualify for a personal loan. Lenders often review credit history, score, and income and debt levels to establish your loan details.

How to get a $5,000 loan
See what to consider when getting a $5,000 loan, including costs and how to apply.

7 min read >

How to lower your personal loan rate and total cost
Know how improving your credit, comparing lenders, or refinancing can affect your loan costs.

6 min read >

Paying off a personal loan early: What you need to know
Consider the benefits and drawbacks of paying off a personal loan early.

6 min read >

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

Get an estimate

Get an estimate

Try our debt consolidation calculator

Run the numbers

Run the numbers

Get FICO® Score savvy with Credit Close-Up®

View score

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FAQs about planning a loan

How much you can borrow with a personal loan can vary by lender, as each one has a minimum and maximum personal loan amount that it provides. In addition, the lender will look at your creditworthiness and other factors to determine what your personal loan limit should be. Wells Fargo offers personal loans starting at $3,000 up to $100,000.

The minimum credit score needed to qualify for a personal loan depends on the lender and the specific loan program. Some lenders have a set credit score minimum, while others may look at several factors together to determine if a borrower is a good fit. Credit score requirements vary by lender. In general, borrowers who have stronger credit profiles can put themselves in a position to qualify for more loan options and potentially lower rates.

Lenders consider different criteria when reviewing personal loan applications, mostly involving creditworthiness and ability to repay the loan (the debt-to-income ratio). They may look at credit reports and credit scores as well as documentation to verify income and/or employment, such as W-2 forms, pay stubs, and other financial statements.

Personal loans typically require equal monthly installment payments over the course of a loan term. To estimate your monthly payment, you will need to know the loan amount, the APR that you are likely to qualify for, and the length of the term. Wells Fargo offers a personal loan calculator to estimate monthly payments under different loan scenarios.

Choosing the right personal loan term is a matter of preference, but it should be based on your monthly budget. Many borrowers choose the shortest term they can comfortably afford because shorter terms generally reduce total interest costs. Shorter terms will have higher monthly payments, but lower overall loan costs. On the other hand, longer terms will lower your monthly payment, but they cost more in interest over the life of the loan.

Checking your personal loan rate with many lenders, including Wells Fargo, does not have an impact on your credit score because they use a “soft” credit check. However, some lenders do perform a “hard” credit check when providing personal loan quotes, so it’s important to read the details of the process as that can temporarily affect your credit score. If you decide to formally apply for a loan after you receive your rate quote, this will result in a hard credit check regardless of the lender, including Wells Fargo.

Before you apply, check your credit score and calculate your DTI so you know where you stand. To calculate your DTI, add up your recurring monthly debt payments, divide by your gross monthly income, and multiply by 100.

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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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