Best Egg: Personal Loans Review

  5,589 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   5,589 Reviews

trustpilot-stars

AJ ARENDSE

9 hours ago

trustpilot-stars

Place is a joke don't ever do business…

Place is a joke don't ever do business with them they are crooks and are not willing to help with anything customer service is a complete joke as well


AURORA NANCY

13 hours ago

trustpilot-stars

Zach N Great Rep!

Zach N helped me with a seem less process very explanatory, patient and kind customer service ! I am happy I chose Bestegg for my loan .


ELBIN ANDINO TABORA

19 September, 2021

trustpilot-stars

It was very easy to applied and got the money fast.

It was very easy to applied and got the money I needed faster. Also the the company has a great interest rate and amazing customer service.


DAVID

19 September, 2021

trustpilot-stars

Quick and painless!

This was the easiest loan I’ve ever gotten. The process was simple and quick. I highly recommend them.


DEISI

19 September, 2021

trustpilot-stars

Thanks to Best Egg I was able to get on…

Thanks to Best Egg I was able to get on track and in control of my expenses


LOUISE

19 September, 2021

trustpilot-stars

Best Egg is the best!!

Best Egg came through for me when I needed help with credit card balances. Now for a second time, Best Egg is there for me for home repairs. I really appreciate the quick approval response and release of funds.


TELVIN

18 September, 2021

trustpilot-stars

Was very much needed

Was very much needed, help me out.


LENIN

18 September, 2021

trustpilot-stars

great process

The whole loan process was easy and seamless. As advertised the funds were in my bank account within 48 hours after I was approved.


MS. E

18 September, 2021

trustpilot-stars

Such a blessing!

I'm so happy for the approval from Best egg. I was over the top with bills. the approval was quick and money came over night. such a blessings!


MICHELLE BURKLIN

17 September, 2021

trustpilot-stars

CHARGED TWICE/AWFUL CUST SVC

Process fast and easy. HOWEVER, I set up auto draft for my payments through the app, and then I called to verify with someone that my auto draft would come out on the 15th of each month. The person I spoke to took it upon herself to set up ANOTHER auto draft for the same day without verifying it with me or saying something like “Hey, you already have auto draft set up for this day; are you saying you’d like to set up another one?” So now, they’ve taken two large chunks of money out of my account on the same day and said they can’t refund it for at least ten days! It is ludicrous! In lieu of trying to understand me, the agent on the phone just kept arguing with me & insisting that I had set up two auto drafts. I had not! They screwed this up, not me, & now I’m out all that money until they decide the refund can go through! I don’t deal well with incompetence! I HAVE ALSO NEVER GIVEN A 1-STAR REVIEW!!!! This experience has been THAT bad!


JON FIMMEN

17 September, 2021

trustpilot-stars

Refusal to provide Paid in Full letter

The initial loan process with Best Egg went well, but as soon as they were aware that I wanted to pay off my loan several years early, I clearly lost any value to them and their customer service went quickly downhill from there. I paid my loan in full on 8.31.21. I initially contacted Best Egg to offer a wire payment, knowing that the funds would clear the same day, so they could provide proof of payoff the next day. I was told by customer service that no matter how I paid I needed to wait 7 to 10 business days and they would send me an email stating the account was paid off. The other 3 large creditors that I paid off at the same time all were prepared to provide Paid in Full statement the next day if I paid via wire, but not Best Egg, they wanted to remain difficult. I ended up paying off the loan through their site, rather than paying for a wire, and the money came out of my account on 9.2.21. I finally received an email from Best Egg on 9.16.21 stating "congratulations your loan is paid in full" yet they neglected to include any type of actual statement showing this was the case. Anyone that knows credit bureaus, and I know they do, is aware that they will not accept email documentation as any form of proof and need to see a physical statement. I have now reached out to Best Egg 3 times in the last 36 hours simply asking them to provide a physical paid in full statement or to fax one to my loan officer if they would prefer. Nothing but silence coming from them at this point, not sure where to go from here. What I do know is that I would never consider working with this company in any fashion ever again and I would recommend looking at one of the other consumer loan companies that are available options if you are looking for a loan.


AGNES LEE

13 September, 2021

trustpilot-stars

"Big Disappointment" I was directed…

"Big Disappointment" I was directed to "find my rate" I completed the required information and that information was used to apply for loan. That was a huge deception! I had no desire yo make an application for anything and that was a huge misuse of my information! If you were truly on the up and up, why would you do that? That clearly tells me I don't want to do business with you!


CATHY ROBERTS

11 September, 2021

trustpilot-stars

I applied for loan a couple of years…

I applied for loan a couple of years ago. It was very easy and easy to speak with person I applied to for loan. They were professional and nice. I have a year or less to pay loan. One of the best loan companies I ever used. Can only speak of my experience and I would definitely recommend them.


ADAM

09 September, 2021

trustpilot-stars

Extra payments go to interest

Recently got a consolidation loan, but I just found out the hard way that it's not possible to make a principal-only payment. Everyone gives you the runaround when asking how to make an extra payment, and they insist that you do it on the payment due date. Any extra payments you make during the month go to interest.


JANET GONZALEZ

31 August, 2021

trustpilot-stars

Don't even reapply again..not worth it

I had a Best Egg Loan a couple months ago, paid it off early and reapplied again. Now they are saying they can't approve me when I know I have great history with payments and credit. I now got ding'd with a hard inquiry and no loan. This is ridiculous.


MATTHEW BARILE

30 August, 2021

trustpilot-stars

Applying for a loan and was told I…

Applying for a loan and was told I needed more documents to verify my income. Asked for payroll checks. Was told that bank statements would work. Sent the bank statements. Was told I needed last two years of W-2s. Send the last two years of W-2s. Was told then I now needed to send a schedule C. And was told now that they can’t verify my income. That does not make any sense in my book. They can clearly see my monthly income and my yearly income but yetThey cannot verify my income


RAYMOND D

28 August, 2021

trustpilot-stars

Great company, wounderful CSR's

What a fine, fast, friendly people are at Best Egg. Took out a personal loan, made 2 payment, then the day after the payment called best Egg to find out what my payoff was, then called and spoke to a very 'Super' CSR and she helped me payoff the loan. Remember, try to pay off the loan the day after you have made a payment, because interest starts to accrue, so enjoy the ride, Love the CS staff, I'll be back if the need arises.


RUSSELL

23 August, 2021

trustpilot-stars

Miscommunication on there end leads to…

Miscommunication on there end leads to an unnecessary hard pull on my credit.


KAY WILLIAMS

19 August, 2021

trustpilot-stars

KUDOS TO BEST EGG AND AGENTS

I want to thank Best Egg for now my second loan they have granted me. It couldn't have been any easier to process, once I figured out how to do it :). The agents I spoke with couldn't have been more direct, helpful and personable. Again, MANY KUDOS TO BEST EGG AND EMPLOYEES for helping me again lessen my financial obligations. Oh, and also have a couple of $ to spend on me! God Bless Best Egg.


DAVID ROBERTO

17 August, 2021

trustpilot-stars

Simplified! Easily to Understand is an understatement

Such an easy experience. language is written for the aveerage person. Plus there rates arent going to take u for a ride. So happy i went to them for my money needs. David Portland, OR


CRYSTAL WADE

17 August, 2021

trustpilot-stars

Quick approval and very easy process

Quick approval and very easy process. No hassle and I had access to funds the very next day! Thank you!


JACQUELINE DENSON

16 August, 2021

trustpilot-stars

Customer service was excellent

Customer service was excellent. Ms . Tina was awesome


JOSH MYERS

14 August, 2021

trustpilot-stars

Absolutely the worst application…

Absolutely the worst application process! I have two incomes, they requested pay stubs from both. I was approved, but they took so long to review, one of my bi weekly stubs went to their version of “out of date”. They then resubmitted with just one job then denied me… Total waist of one week of back and forth asking the same questions!


THOMAS ROGERS

13 August, 2021

trustpilot-stars

Be careful of early payoff

I used best egg to do a debt consolidation. Initially no problems. I made all my payments on time, in fact paid my loan off early, apparently Best Egg chooses to report this to the credit bureaus negatively. They leave a comment that states you closed your account, not that you paid the loan off. The difference to your credit score is negative and they won't fix it. Paying it off early dropped my score 11 points with equivalent and transunion. I have dealt with personal loans with other companies and always paid off early this is the first and only company that has done this. I guess if you choose to use them just be sure not to pay them off earlier than your loan term and even then I am not sure how they report it if you do go full term it still may be the same. Paid off is the correct term they are supposed to report and it does make a difference as account closed has a negative connotation to credit agencies as they do not know why it was closed so it is used negatively.


SHEILA R SMITH

12 August, 2021

trustpilot-stars

After paying off TWO loans with Best…

After paying off TWO loans with Best Egg, they have still not reported my loans to the credit bureau as PAID IN FULL. When I called customer service, instead of her helping me, she advised me to "DISPUTE THIS WITH THE CREDIT BUREAUS. So now I have to take the time out to deal with the credit bureaus when I paid BEST EGG! I paid off 20,000 and this is the treatment? Never again and from now on you will be known to me as ROTTEN EGG. UNACCEPTABLE.


VAWN KRIS TIN

11 August, 2021

trustpilot-stars

I have had 2 loans now with best egg

I have had 2 loans now with best egg. Everything was simple and fast. Customer service is great and they are very helpful. Their rates are amazing as well and I definately will recommend best egg to friends and family.


LEAH

10 August, 2021

trustpilot-stars

Easy, friendly process for a complicated application

I am so grateful to Best Egg for giving me the opportunity to borrow! Even though my application was unusual, I STILL got funded within three days of my application (whereas another organization had been stalled for 6 weeks). This will let me take steps towards a better financial future. Thank you!


GERARD COSBY

08 August, 2021

trustpilot-stars

Premature and dense

Many different representatives and I feel that they move very premature when discussing options for a very serious matters I was under the impression I will get a loan and then it seem like in the last minute abrasivly With a dense Reasoning


ROBERT DRAYER

07 August, 2021

trustpilot-stars

Loan to consolidate credit cards

I requested a loan to consolidate my credit cards. I was called several times and told that they needed more documents. Sent the documents and was told by Brandon that I was approved and that the money would be in my account in 1 to 3 days. Got a call the next day and was told they needed more documents. After sending them, I was told that they needed more with my name on them. I don't have the right one and do not have access to get them with the Covid going on. I was then informed by John that I wasn't approved! Thank you for nothing!


TE BROWN

06 August, 2021

trustpilot-stars

BEST EGG IS RIGHT ON!!

BEST EGG IS RIGHT ON!! VERY QUICK RESPONSE. VERY FRIENDLY STAFF, EXCELLENT IT WAS SO SIMPLE TO GET MY LOAN. AAAAAA+++++ Ms.Te Brown


DUANE BRINKLEY

29 July, 2021

trustpilot-stars

Fast easy to do

Fast easy to do. The loan just made sense to pay off all my bills with a once a month lower payment.


KEN HARRIS

28 July, 2021

trustpilot-stars

Best eggs a goose egg don't be bothered…

Best eggs a goose egg don't be bothered with these fake ppl telling lies about how good Best egg is they know my credit score were over 700 they ran it without asking plus I gave them w2 for 20/20 2019 last 2 pay settlement on my check, I'm a owner operator of my truck wanted to get more capital so I tried these ppl u will never talk to same representative they are full of crap I don't wish this on my enemy couldn't get me a breakdown if I choose to pay it off in 2yrs nobody got a answer so then they said my loan was denied because of my income was 32,ooo which is Actually a lie the income over 130,000 gold figure do not mess with this goose egg u will be disappointed...


JUSTIN

27 July, 2021

trustpilot-stars

A company full of liars!

I called the day before my loan was deposited to rescind the loan. I have now spent 5 straight days getting the run around from this crooked company about why this process hasn't been completed. NOW 5 days into the process i'm told it's a 7 business day process. Not one of the 3 people that I have spoken to before mentioned that time frame. This company is simply untruthful and crooked.


CUSTOMER

24 July, 2021

trustpilot-stars

Excellent customer service quick and…

Excellent customer service quick and easy.


SANDRA SCHULTZ

24 July, 2021

trustpilot-stars

I invested in improving my home and…

I invested in improving my home and yard. Put in privacy fence, stained and put in new kitchen appliances with fresh paint job thru out entire house. Landscaping and fresh gravel applied to roadways and driveway. The place looks fantastic. Almost market ready and can pay off Best Egg who helped me accomplish so much. Thank you Best Egg. You are my favorite lender.


VALERIE DAVIS

24 July, 2021

trustpilot-stars

Best Egg Personal Loan was very helpful…

Best Egg Personal Loan was very helpful to me at the time when I was at need. My air condition unit system went out. It was so hot in my house. I applied for a loan at Best Egg Personal Loan that night, and didn't take them long to approve me. Thank you so much for your help when I really was in need. I appreciate your company. I will use this company again. Valerie


A MORGAN

24 July, 2021

trustpilot-stars

Easy to work with

Easy to work with; no overwhelming minutiae to accomplish a loan! No hounding; just a simple direct process. Great terms for loan. And I can pay off early if decided! A reliable organization.


CYNTHIA WIGFALL

23 July, 2021

trustpilot-stars

I'm one who takes pride in making sure…

I'm one who takes pride in making sure all bills are paid and in a timely manner. I had always received the mail to apply for the Best Egg, never gave it a thought. Then, I said go for it! Low and behold I got it! YES! I immediately paid off bills, payed mortgage and car note for 6 months and now I have a nice comfortable nest egg. Thank you.


RUSSELL KEMPKA

23 July, 2021

trustpilot-stars

Satisfied Customer

I have been a customer with Best Egg for several years and several loans. The application,process, and service is simple and pain free. What more is there to say. Thank you Best Egg. Just Russ


CUSTOMER

23 July, 2021

trustpilot-stars

I was so relieved to have gotten a loan…

I was so relieved to have gotten a loan from Best Egg, so easy to work with and all my old debts are paid and my credit score is climbing!


FRANCISCO VASQUEZ

23 July, 2021

trustpilot-stars

Fast service and good customer service…

Fast service and good customer service .


BRENDA DICKERSON

23 July, 2021

trustpilot-stars

I have caught up on some bills and…

I have caught up on some bills and bought items that I needed. Most importantly I have increased my savings account. It's important to save which I plan to do more from my personal income. My ultimate goal is to improve my credit score by downsizing my credit. The money I have saved from this loan will help.


MIKHAIL MURRAY

23 July, 2021

trustpilot-stars

Best Egg was easy to apply and for the…

Best Egg was easy to apply and for the loan process. I set up auto pay to ensure my payment arrives on time and positively affects my credit. Will definitely use again should the need arise.


ELIZABETH SMITH

23 July, 2021

trustpilot-stars

Changed My Life

Thanks to Credit Karma and it’s affiliation with Best Egg I was able to relieve myself of this credit card debt I had gotten myself into when my company merged with another company which changed my income significantly literally overnight. Paying different interest rates on my credit cards was killing me and my spirit. One day I received a message that I was eligible to consolidate my loan from Credit Karma and I chose Best Egg based on other reviews I had read. It was the easiest process and two days later I had the money in my account to pay off my credit card debt and consolidate it into one loan and one interest rate that is so much more manageable. This loan has changed my life and I am on my way to financial freedom. Much gratitude for this company.


EDWARD B FOWLER

23 July, 2021

trustpilot-stars

Thanks for coming to the rescue

Although my interest rate is pretty high, we needed this money to fix a septic tank issue in the house we purchased just 8 months ago. Because of the home purchase we could not get a loan anywhere else. Thank you Best Egg for coming to the rescue.


MIKE, A BEST EGG HAPPY CUSTOM

23 July, 2021

trustpilot-stars

The best customer service you can ever have

The best customer service you can ever find!! Highly recommended you give this company a call for a hassle free experience. Thank you Best Egg !


LOIS NASH

23 July, 2021

trustpilot-stars

Best Egg is awesome

Best Egg is awesome. It was so simple to apply and got a quick response. I used the loan to re-roof an older home I had recently purchased. Thanks Best Egg!


MICHAEL

23 July, 2021

trustpilot-stars

Paid off credit card

Paid off credit card


TOM HILL, DC

23 July, 2021

trustpilot-stars

Super fast

Super fast! Met my $ needs! Super fast approval!!!


GUEST

23 July, 2021

trustpilot-stars

Consolidated debt

Consolidated debt, and saved over $200 a month from the loan shark loan company I was dealing with

1

2

3

4

5