Best Egg: Personal Loans Review

  7,153 Reviews on Trustpilot

Best Egg Snapshot

Best Egg is a completely online lending platform founded upon a sophisticated borrower evaluation method which has served over $8 billion in personal loans to over 500,000 customers.

The company offers unsecured personal loans to borrowers with high-income and fair to great credit. Upon application approval, borrowers will receive funds very quickly, in as little as one day. Since the process is done 100% online, there are fewer operating expenses. Because of the lower costs, Best Egg is able to offer lower interest rates and fewer fees than comparable lenders.

Best Egg’s loans are most ideal for funding major expenses or consolidating debt. If you’re a high income borrower looking for a quick loan with low interest rates, then Best Egg might be right for you.


Best Egg Spotlight

Best For
High income earners who need a small loan quickly

Marketplace or Direct Lender
Direct lender

Loan Types
Debt Consolidation, Refinance, Home Renovations

Loan APR
5.99% to 29.99%

Repayment Terms
Up to 60 months

Summary

Best Egg offers personal loans for borrowers with fair to excellent credit. The minimum credit score required to qualify for a Best Egg loan is 640. One of the advantages for borrowers with an income higher than $100,000 per year with a credit score of 700 will likely qualify for Best Egg’s best rate of 5.99%.

However, one of the major downsides to Best Egg is their higher fees. They charge an origination fee anywhere from 0.99% to 5.99%. And, if you don’t sign up for automatic payments, you could have to pay an extra $7 per month (which could add up to a few hundred dollars over the course of a few years.


Loan Types

Best Egg offers personal loans with rates that are among the lowest around, starting at 5.99%. Their personal loans can be a great choice if you’re looking for funds to renovate your home, consolidate debt, pay off medical expenses, or buy a new car.

Keep in mind that you’ll need a minimum FICO credit score of 640 to qualify for a loan with Best Egg.

On top of your credit score, Best Egg also takes into consideration over 1,500 “proprietary credit attributes” from a variety of sources including external data providers and your “digital footprint”.

That means if you haven’t qualified with a traditional lender, or you’ve simply been given a poor loan rate or term, you’re much more likely to get a better deal working with Best Egg since they consider more factors which could improve your odds of approval.


Personal Loan Rates & Terms

Best Egg offers interest rates on their personal loans from 5.99% to 29.99%. Your specific interest rate will be impacted by a variety of different factors including but not limited to:

  • Your annual income
  • Your expenses
  • Your debts
  • Your credit score
  • Your credit history
  • Your assets

Best Egg’s loans have fixed APRs, so you won’t have to worry about your interest rate hiking up during your loan duration.

Best Egg also doesn’t charge you a penalty if you decide to pay off your loan earlier than the term you signed for. However, it’s important to note Best Egg’s other fees.

Best Egg’s origination fee ranges from 0.99% to 5.99% and will be deducted from your approved loan amount at the beginning of your term.

This means if you secure a $10,000 loan and are charged a 3% origination fee, $9,700 will be transferred to your bank account. When calculating your expenses, keep in mind that you’ll still be paying off a $10,000 loan (plus interest), not a $9,700 loan.

Best Egg also charges a $15 fee for late or returned payments. They may also charge a $7 processing fee for each payment that’s not enrolled in automatic payments. Compared to other direct lenders in the industry, Best Egg has relatively high fees.

However, Best Egg offers relatively higher loan amounts. You can secure a loan anywhere from $2,000 to $50,000. Best Egg offers loan terms between 36 and 60 months, where you can pay online, by phone, or by mail.


Best Egg Pros

  • Competitive rates with fair-credit lenders
  • Secured loan options for homeowners
  • Funds can be transferred within one business day upon approval

Best Egg Cons

  • Charges an origination fee
  • Charges $15 late fee
  • Charges $7 fee for non-auto payments
  • Doesn’t offer direct payments to creditors for debt consolidation
  • Borrowers only have two loan offer options (36 or 60 months)

Best Egg Application Process

Best Egg’s application process is fast and straightforward. Once you enter some basic identity and financial information online, you’ll be asked for your desired loan amount, your individual income and your household income.

Here’s some information you’ll need to provide when applying for a Best Egg loan:

  • Gross annual income
  • Loan amount
  • Home type
  • Annual household income
  • Personal information (name, address, phone number, Social Security number)
  • Debt information (credit card debt, monthly housing payment, personal debts)

Once you’ve filled out this information, Best Egg will perform a soft credit check which won’t negatively affect your credit rating. The entire application and soft check only takes a few minutes.

If you’re approved, you’ll be shown several loan offers with different rates and terms for a 36 month and 60 month loan.

Once you select your loan offer, Best Egg will perform a hard credit check to finalize the loan which will impact your credit rating.

Keep in mind that in order to qualify for a Best Egg loan, you must be a US citizen, be at least 18 years old, and have a valid bank account.


Customer Support

Best Egg offers great customer support with a few different channels.

They offer a variety of free financial education resources including:

  • Blog
  • Guides
  • Videos

They also offer email support for any inquiries about personal loans.

If you need to speak to someone over the phone, you can call Best Egg’s customer service line Monday to Saturday during business hours.


Final Thoughts on Best Egg

So, should you use Best Egg to access a personal loan?

Best Egg is one of the most popular lending companies in the US. However, they may or may not be best suited for you, depending on your situation.

One disadvantage of using Best Egg is the fact that they only offer three of five year terms, so there’s limited flexibility. Another disadvantage includes their wide range of fees: origination fees, late fees, and non-auto payment fees.

However, where Best Egg shines is with their low interest rates. While the average borrower receives an annual percentage rate of 14%, those with better credit may be approved for rates lower than 10%. Best Egg’s lowest rate of 5.99% can be achieved if you have a credit score of over 700 with an income of over $100,000.

Best Egg also has one of the fastest application rates. You’ll find out within minutes what your offer is, then upon approval, you’ll be funded in as little as one business day.

Overall, Best Egg is best suited for high income earners with fair to excellent credit who need a small loan quickly.


FAQ

What does it mean to be pre-approved for a loan?

If you are pre-approved for a Best Egg loan, it means your credit report criteria matches what Best Egg looks for in their customers. This will be verified at the soft credit check process (which doesn’t impact your credit rating).

The pre-approval is a simple way to let you know you’ve been accepted with the information submitted. If you decide to move forward with the loan offer, a further hard credit check will be performed.

What information does Best Egg look for in a borrower to qualify for a loan?

Best Egg looks at a variety of factors including:

  • Information provided on your loan application
  • Information provided by credit bureaus (includes your credit score)
  • How much debt you have compared to how much you earn (your debt to income ratio

Best Egg Customer Testimonials

Excellent   7,153 Reviews

trustpilot-stars

TED

20 hours ago

trustpilot-stars

It was quick and simple

It was quick and simple


VICKI

20 hours ago

trustpilot-stars

Convenient

Convenient, fast and an uncomplicated process. I would recommend this to anyone who is searching for a pain free loan experience!


SOLOMON

20 hours ago

trustpilot-stars

Project amazing

I was amazed at how fast this process took. I emailed my documents and received another email stating my funds would be a available in 1-2 business days and they were.


CAROL

21 hours ago

trustpilot-stars

My experience was AWESOME !!!!

My experience was AWESOME !!!!


ODALMIS

09 August, 2022

trustpilot-stars

Estoy muy agradecida por el préstamo

Estoy muy agradecida por el préstamo, estoy haciendo algunos arreglos en mi casa. Muchas gracias por confiar en mi. Son muy amables y ceguros.


ANNA

08 August, 2022

trustpilot-stars

Best Egg made it so easy to apply for…

Best Egg made it so easy to apply for and receive my loan. Also, the setup for making payments are stress free


MICHAEL

07 August, 2022

trustpilot-stars

Fast

Fast and effective. Easy to apply


GEM

07 August, 2022

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The process was quick and loan was…

The process was quick and loan was approved by the end of the day. Reasonable rates depending on credit , I am rebuilding so I was able to get an offer.


DOLLY

07 August, 2022

trustpilot-stars

Awsome

I have been working on consolidating my bills and this is helping me so much


MARK

07 August, 2022

trustpilot-stars

Very easy process

Very easy process. applied approved and funded in about 3 days. MY wife and i both have loans through Best Egg. Shopped around and they are by far the fastest and easiest.


JASIEL GARCIA

05 August, 2022

trustpilot-stars

Me otorgaron un préstamo de 15 mil y…

Me otorgaron un préstamo de 15 mil y deposite 450 y ahora me.piden otro depósito de 1950 XK mi cuenta está blokeada y me.piden esa cantidad para desbloquear y no se porque la cuenta se puso mal si la verfike varias veces


IAN

05 August, 2022

trustpilot-stars

The follow up was reasonable and…

The follow up was reasonable and informative. I did not feel pressured and each person I spoke with was professional as I do have a tendency to be skeptical when dealing in finances. The payments and fund handled efficiently. I am not a fan of sharing my account information however it did speed up the loan process which took less than 3 days after I made my decision.


JACKIE HERNANDEZ EVANGELISTA

05 August, 2022

trustpilot-stars

Convenient

Easy, fast, smooth. All my debt to one payment! Thank you!


OLIVER

05 August, 2022

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EZ AND HELPFUL

Able to pay off credit cards and have cash in case of emergency and build up savings at low payments per month


YONATAN

05 August, 2022

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Best loan

I needed the money in short time and they gave me the Money on time so am satisfied with the service, I recommend best egg


MICHELLE

05 August, 2022

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The easiest loan experience I've ever…

The easiest loan experience I've ever had! I got behind due to medical bills, etc. I received this loan in less than 48 hours!


JULIE

05 August, 2022

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So far so good.

So far so good.. I can't believe it was that easy to get a loan. You all are great.


MICHAEL

05 August, 2022

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I needed it in a hurry

I needed it in a hurry, I got it in a hurry. When I really needed it


MORGAN

04 August, 2022

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5 stars!

I was able to consolidate my debt into one easy payment less than it was costing to try to pay them off each. Quick and easy! Money was in my account in a day. Great experience, 10/10 would definitely recommend.


THOMAS

04 August, 2022

trustpilot-stars

My experience has been great so far

My experience has been great so far. Applied for loan and was approved in a matter of minutes. Money was in my account in a day. Remarkable!!! I’m now able to pay off higher interest credit cards and only have one payment to make monthly. I’m greatful for this transaction. You’re the best, Best Egg


ROGER

04 August, 2022

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fast

Fast and efficient and easy to apply


PENNY

04 August, 2022

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The process was very easy and smooth

The process was very easy and smooth. The application was very easy snd straight forward, I used the loan to consolidate, which now I have only one payment! Thanks again Best Egg


MARY

04 August, 2022

trustpilot-stars

I wanted to consolidate some of my high…

I wanted to consolidate some of my high interest credit cards and looked at BestEggs rates. Much lower than I was paying so I applied for a loan.I was approved within a few days and my credit cards were paid in full. It was a very easy experience and I am pleased with the process. Great customer service.


MARCOS CUETO

04 August, 2022

trustpilot-stars

Really very good

Really very good, quickly and easy


DONALD

03 August, 2022

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Very good service and fast loan

Very good service and fast loan, money in the bank in 3 days. Thanks Best Egg.


SUBBU

03 August, 2022

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Hassle-free Seamless process

Hassle-free Seamless process with best competitive rate, Easy application and approval process with no paperwork.Would recomend others aswell.


BYRON

03 August, 2022

trustpilot-stars

This is one of the fastest loan process…

This is one of the fastest loan process ever! Best Egg process is simple, fast, and easy. I was able to pay off all my credit card debt! I will definitely be using them in the future! Thanks again Best Egg for a wonderful experience!!


BARBARA

03 August, 2022

trustpilot-stars

I have had a great experience with…

I have had a great experience with obtaining a best egg loan for debt consolidation. The representative was extremely accommodating and the application process was very easy.


ROBERT

03 August, 2022

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happy process

loan process was easy i am using the money to payoff other higher interest debt


HEATHER

03 August, 2022

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The entire process was SO fast!!

The entire process was SO fast!!! Application to $ in the bank in about 48 hours give it take! Super easy! I am beyond thrilled to get rid of my credit cards and pay only one payment, one interest rate!


NELLIE

02 August, 2022

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Happy

When online and applied and within in minutes or it seen like it. Got approved with a few questions asked and their customer service was great.


JEANETTE

01 August, 2022

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This is my 3rd loan with best egg

This is my 3rd loan with best egg. They are prompt and courteous, they have great customer service and will recommend them to my friends and family.


MARK

01 August, 2022

trustpilot-stars

Highly Recommended!

It was very easy and efficient application process, I received a phone call as soon as my online approval came through and the representative was very friendly enthusiastic and appreciative of my business. I obtained my funds within 2 business days.


TROISPAS JEAN

01 August, 2022

trustpilot-stars

I am a regular customer they are fast…

I am a regular customer they are fast and Trustworthy


HATISAIZIYA

01 August, 2022

trustpilot-stars

First of all I like to thank you all…

First of all I like to thank you all the members of Best Egg for trusting me and I manage to pay my all debts I am short of words thank you once again


JEREMIAH

01 August, 2022

trustpilot-stars

Thanks Best Egg

Thanks Best Egg. With the very fast hassle free loan I was able to do the renovations on my house.


JADAMS

01 August, 2022

trustpilot-stars

Best egg was a good and fast process…

Best egg was a good and fast process from start to finish. They were very polite. Paid off small bills I had and best egg saved half the interest on a loan I had


SHOEB

01 August, 2022

trustpilot-stars

Very easy process of getting a loan.

Very easy process of getting a loan.


EVA ISMAN

01 August, 2022

trustpilot-stars

BestEgg is simply amazing

BestEgg is simply amazing. I researched many lenders over a few weeks, before selecting BestEgg as my loan provider. I needed this first loan to do renovations in my multiple family house, for the addition of 2 rental rooms. BestEgg made the process very fast and easy. The entire procedure only took a few days. Each step along the way, I received excellent guidance and notifications. The BestEgg service team was friendly, knowledgeable and helpful. Honestly, it was such a refreshing positive experience overall. I wish companies in all industries could provide this same level of outstanding excellence. I am extremely happy with my finance company choice. I highly recommend BestEgg to every single person who needs a loan.


SHELBY

31 July, 2022

trustpilot-stars

Best Egg to the rescue.

Applying was easy, fast and not much of a hassle. Received my payment directly to my account in a timely manner. Would recommend checking out Best Egg Personal Loans if your ever in need of financial assistance.


KEVIN

31 July, 2022

trustpilot-stars

All Good

I must keep it honest, Best Egg came through for me. Thank You! I was skeptic at first, but they surprised me,and we're true to there word,rare these days. They gave me a chance and I appreciate it, Best Egg. I WILL pass along there name if I come across someone needing a loan. Two thumbs up they are great, easy process and they come through.


CRYSTAL

31 July, 2022

trustpilot-stars

Quick

Quick, easy, very satisfied so far. Application process was super easy, funds were in my account within hours of being approved. I've been able to eliminate $900 in monthly payments on 5 + different accounts and now have 1 easy monthly autopsy.


TWYLA

31 July, 2022

trustpilot-stars

A much needed loan

This was the best experience I've had, to obtain a loan. Easy process even for a technically challenged person as myself. I was able to pay off a couple high interest credit cards etc. and just have one monthly payment. Very satisfied!!


KATHY

31 July, 2022

trustpilot-stars

Cheers to Best Egg!

I haven’t done anything in a long time that was as simple and flawless as the Best Egg loan. The whole process took less than 2 days. Thanks to you I was able to pay off 2 very high interest credit cards. I feel the entire process was very professional. Thank you!


ROBERT

30 July, 2022

trustpilot-stars

I am still having an ice with one of my…

I am still having an ice with one of my accounts that have not been able to cash the check, I deposited it into my bank and now I have to wait 6 days to find out if it will clear .


RYAN

30 July, 2022

trustpilot-stars

Got a loan to consolidate debt in only…

Got a loan to consolidate debt in only 3 days!


KRIS

30 July, 2022

trustpilot-stars

interest is insane

interest is insane! ive paid equal amount in interest to principal. Supposed to help you ease debt not increase it. Also, they don’t give you the full amount. Out of 4200, I only got about 3950 because of some fee and im expected to pay the whole 42 back? doesnt make sense. DONT DO IT


ROGELIO

29 July, 2022

trustpilot-stars

I have been able to pay off several…

I have been able to pay off several credit cards, love the fast and friendly response to my loan process by the Best Egg staff. I highly recommend it to anyone.


CAROL

29 July, 2022

trustpilot-stars

Best Egg Offered me a No-Hazzle Loan and Great Customer Service

Best egg gave me the opportunity to secure a loan when I needed it the most. Although I had to wait three days because my company was not listed in their database, I was still very thankful for the money and the customer service that I received. The online process was easy. I was able to load my documents and three days later my funs went straight into my bank account. Thank you Best Egg for making a difference.


WILLIE GADSDEN JR

29 July, 2022

trustpilot-stars

The Best Lending Agency

The corporation of Best Egg is a great organization that makes customer satisfaction a part of its business model. I am a proud member who will not hesitate to be an ambassador to anyone seeking clarity on what to do in a complex fiscal situation. Well done, Best Egg; you continue moving the needle in support of the American consumer.

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