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Pricing Questions

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1. What are your current interest rates?
Rates are updated regularly online and are based on the specific characteristics of your credit application including, but not limited to, evaluation of credit history, amount requested, and geographic location. Calculate your rate and payment. Back to Top
2. How is your interest rate determined?
Interest rates for loans are fixed at the time you open your account. Interest rates for lines of credit vary with the market based on the U.S. Prime Rate and are calculated on the value of the index plus a margin. The interest rate will be based upon the specific characteristics of your credit application including, but not limited to, evaluation of credit history, amount requested, and geographic location, and by whether you choose a secured or unsecured product.Back to Top
3. How is interest accrued on a line of credit?
Interest is accrued daily only on the outstanding balance. Back to Top
4. How are the monthly payments computed for loans?
For loans, the monthly payments are fully amortized based on a simple interest calculation.Back to Top
5. What are the minimum payment amounts?
For loans, your payment amount will be determined by the amount you borrow, the length of time or term of the loan and the interest rate. The payment amount will stay fixed for the life of the loan. For unsecured lines of credit, your minimum payment during the life of the account is equal to $25 or 1% of the outstanding principal balance, whichever is greater, plus accrued monthly interest. For the Portfolio Line of Credit, your minimum payment is $25 or 1/120th of outstanding principal balance, whichever is greater, plus accrued monthly interest.Back to Top
6. When will I be billed and how often?
Your loan payment will be due monthly. For lines of credit, you will receive a monthly bill when you carry a balance. When you sign up for automatic payments for your loan or line of credit, your payment will be recorded on your monthly checking statement and you will not receive a separate bill.Back to Top
7. Is there an annual fee for a line of credit?
Yes, there is a $25 annual fee for the Personal Line of Credit and Portfolio Line of Credit.* Back to Top
8. Is there an annual fee for a loan?*
No, there is no annual fee for a loan. Back to Top
9. Is there a transfer or advance fee to withdraw cash from my line of credit?
No. There is no charge to transfer money from your line of credit or withdraw cash directly from it, nor is there a higher interest rate charged to do so. Back to Top
10. Is there a charge for ordering more line of credit checks? Can I order checks over the phone?
Your checks are provided to you at no additional cost. Just contact the Wells Fargo Phone BankSM Center at 1-800-TO-WELLS to order additional checks over the phone.Back to Top
11. Are there any pre-payment penalties on personal loans?
No. If you pay off a loan before the original term, you will not incur a penalty charge. You only pay interest for the time you had the loan.Back to Top
12. Is there an origination fee?
There is no origination fee for the unsecured Personal Loan. There is a $75 loan origination fee for the CD/Savings Secured Loan.Back to Top
13. Who do I contact for more information?
Contact the Contact the Wells Fargo Phone Bank SM at 1-800-WFB-OPEN for more information or to apply by phone.Back to Top

*All loans and lines of credit subject to application, credit qualification and income and/or collateral verification. The line of credit Annual Percentage Rate (APR) may range from 6.25% to 19.75%. The stated range is accurate as of July 31, 2013. Interest rates are variable and subject to change. There is a $25 annual fee for the Personal Line of Credit and Portfolio Line of Credit.
Call to Apply1-888-667-5250