How To Apply for Wells Fargo Personal Loan
WELLS FARGO PERSONAL LOAN – Here is a guide on how to apply for the personal loan offer of Wells Fargo bank.
Nowadays, most cash assistance services are provided in the form of loans. These are usually offered by banks, lending companies, and other financial institutions.
In the United States, one of the banks that offer loans to the public is the Wells Fargo. It has several loan offers and one of them can cater to almost all kinds of purposes.
The said offer is the Wells Fargo Personal Loan. We will get to know this offer more including its benefits, the loanable amounts, the terms for payment, and the requirements and procedures in applying.
With the help of the Wells Fargo Personal Loan, you can make a big purchase, pay for the bills, cover up the medical expenses, go for a travel, etc. It covers a lot of purposes and there is no need for a collateral.
According to the bank, there is also no origination fee or repayment penalty under this loan offer and the interest rates are fixed depending on the deal between the borrower and the bank.
How much is the loanable amount under this personal loan offer?
- Minimum Loanable Amount – $3,000.00
- Maximum Loanable Amount – $100,000.00
For the loan terms available…
According to Wells Fargo, the maximum loan terms depend on the amount approved by the bank. The minimum loan term is set at 12 months.
For the loans that are under $5,000.00, the borrower may for it for up to thirty-six(36) months or three(3) years. For loans that are $5,000.00 and above, the loan can be paid for up to sixty(60) months or five(5) years.
Guide in Applying for the Wells Fargo Personal Loan
There are only a few steps in applying for the loan offer of Wells Fargo. In fact, for those who already have an existing accounts with the bank, the application can be done online or though a phone conversation.
With regards to those who do not have an existing account with the bank, you may follow these easy steps below:
Step 1 – Gather the requirements in applying for the personal loan offer.
Prepare the following personal information:
- Social Security Number
- Date of birth
- Mother’s maiden name
- Email address
- Home phone number
- Current address (and mailing address, if different from residential address)
- Previous address (if you’ve lived at your current address less than 3 years)
Prepare the following employment or income information:
- Work phone number
- Employer name
- Previous employer (if you’ve worked at your current job less than 3 years)
- Gross monthly income amount and source(s) of income (all sources you want considered for your loan)
- Monthly mortgage or rent payment amount
Additional Requirements (upon request from the bank):
- Recent pay stubs, W2s, or tax returns
- Utility bills (to verify address)
- Copy of driver’s license or Social Security Card
- Information to pay off current accounts
- Power of Attorney
- Applicant employment and income authorization form
- IRS Form 4506T (Request for Transcript of Tax Return)
Step 2 – Submit the requirements to a Wells Fargo branch.
Head to the nearest branch of Wells Fargo where you want to make your application. Bring the requirements and submit it to the bank officer for the checking and evaluation.
Step 3 – Wait for the notice from the bank.
The evaluation of your loan application may take a while. Wait for the notice from the bank or you may also check the status of your application online. Visit – https://icomplete.wellsfargo.com/oas/status/enter.
Should you wish to do it by phone, you may call – 1-888-667-5250.
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