Wells Fargo: Best Bank

Wells Fargo is one of the nation’s biggest banks. If you don’t want to visit one of their 5,400 branches across the U.S., you can access info on their website — existing customers can apply online or over the phone. Wells Fargo offers competitive rates, a big range of loans, and less stringent credit requirements than others.

Pros

  • No origination fees and prepayment penalties
  • Fast funding times
  • Relationship discounts available

Cons

  • No prequalification option
  • New customers need to apply in person
  • At $3,000, the minimum loan amount is higher compared to other lenders

Other important information:

  • Maximum/minimum amount you can borrow: $3,000 to $100,000
  • APR range: 5.74%–20.24% (includes relationship discount)
  • Minimum recommended credit score: 670
  • Fees: None
  • Other qualification requirements: Applicants need to sign up for autopay from a qualifying Wells Fargo bank account to qualify for rate discount 
  • Repayment terms: 12 to 84 months
  • Time to receive funds: As soon as the next business day
  • Restrictions: New customers cannot apply online

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