Best Egg: Personal Loans Review

  5,739 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   5,739 Reviews

trustpilot-stars

CLAIRESSE

12 hours ago

trustpilot-stars

Thank you for being so genuine and…

Thank you for being so genuine and amazing!


RALPH

14 hours ago

trustpilot-stars

Dealing with BestEgg was reasonable…

Dealing with BestEgg was reasonable fair and very fast. I was very confident in negotiating with BestEgg. And really help control our budget.


CARLOS

15 hours ago

trustpilot-stars

Naja really helped me out with securing…

Naja really helped me out with securing my loan. She was very patient with me throughout the process and she answered all of my questions.


CUSTOMER

21 hours ago

trustpilot-stars

Was Loyal yet got Shafted

Going back I had two loans with Best Egg and paid them off on time. I had one problem where I thought my checking account was compromised and changed my account number. Unfortunately, this caused a reverse payment with Best Egg which was explained to them and taken care of the following week. Again, loan was paid off on time. Recently about 2 months ago, I secure another loan with them. The money is deposited into my account and several weeks later I even send them a payment of 4,000 dollars on said loan. Today I check the rate for another loan and I get a answer back that says that I did not pay one or more previous loans with Best Egg on time. I pick up the phone and call them because that makes no sense to me since about two months ago I was just issued a loan without fault or hesitation from Best Egg and recently paid you 4 grand already on that loan. Best Egg after transferring me several times to different departments could not make it make sense to me. I have nothing on my credit report about late bills because I have always paid on time. I was told well you had those two reverse charges, and I said you were paid the very next week and that was because I felt my checking account qas compromised, however I called and paid you a week later and if this was an issue why did I get a recent loan from you. Not one person who I spoke to could just make it make sense. You cannot have it both ways, if it was such an atrocity why did you approve my loan 2 months ago? Why now did you not approve it? So I could not get an answer and I don't like my character and payment history being scarred. I even got a letter from them telling me "thank you" for excellent payment history. I feel like I got shafted and got the run around by this Company when we both know I was an excellent Customer who paid my loan on time. Life is not perfect Best Egg things may come up that a Customer has no control over such as a Compromised Bank Account, youbwere paid the next week. I was not nor ever been 30 days late or close to it. Thanks for the negative reward for my loyalty.


TONYA K

25 October, 2021

trustpilot-stars

More like rotten egg

More like rotten egg. They made me upload a million documents. I was on w them for almost a week straight trying to see if I had the right document only for them to keep telling me I need more. All that just for them to deny me. What a waste of my time!!


JULIO SANCHEZ

25 October, 2021

trustpilot-stars

Thank you very much Best egg honestly I… jc

Thank you very much Best egg honestly I feel very honored by the trust you placed in me and in my family, this loan came to us at a very important time for us and it is very helpful to begin to carry out our projects. jc


CODY

25 October, 2021

trustpilot-stars

Account says it’s been funded but I…

Account says it’s been funded but I haven’t received anything in my back account


JERRI M

24 October, 2021

trustpilot-stars

Great company to work with

Great company to work with, polite, quick and easy


MARVAIN CADET

24 October, 2021

trustpilot-stars

Good customer service and the fastest…

Good customer service and the fastest loan process and friendly service


JOANNE

23 October, 2021

trustpilot-stars

Great experience

Great experience. Fast and efficient service


TRISTAIRVING

22 October, 2021

trustpilot-stars

Thank you

I was able to pay off most if not all my credit card debt. Which has taken quite a bit off my plate. Thanks Best Egg


KAREN

22 October, 2021

trustpilot-stars

This loan has given me freedom from…

This loan has given me freedom from most of my medical debts to be just one payment where I had 4 different payments to the same medical facility. I thank you from the bottom of my heart. Your representative,Tiffany was very kind and helped me with issues.


LETICIA

22 October, 2021

trustpilot-stars

Awesome service and very quick

Awesome service and very quick! I was able to consolidate all my debt so my credit could go up ! Thanks


ASANTE

22 October, 2021

trustpilot-stars

I really appreciate it for helping me…

I really appreciate it for helping me with my financial problems, Thank you 🙏


AGB

22 October, 2021

trustpilot-stars

Everyone was amazingly friendly and…

Everyone was amazingly friendly and accommodating. The process was seamless and swift. I will definitely like to continue the relationship!f Thank you!


CA

22 October, 2021

trustpilot-stars

Was a very helpful tool

Was a very helpful tool, when we needed the funds to repair our car after we were hit by deer.


DEXTER

21 October, 2021

trustpilot-stars

Thanks to Best Egg I was able to pay…

Thanks to Best Egg I was able to pay out 2 credit cards and will pay out 4 more soon. Also 2 closets needed major repair, I was able to complete that project . I was hesitant at first but the process was so easy and fast. Thanks again


SABRINA

21 October, 2021

trustpilot-stars

I was in need of some money to pay off…

I was in need of some money to pay off some credit card and taxes.The process was one of the easiest and fastest I have ever received.


JAMES

21 October, 2021

trustpilot-stars

I needed money to bury my brother that…

I needed money to bury my brother that died from Covid. He had no insurance so I had to pay for everything. If I couldn’t of got the money from Best Egg, I don’t know what I would have done! Thanks for making this so so simple! It was hard enough as it was! Considering I lost my sister to Covid and my father died all within three weeks. Including my brother.


CHARLES WHALLON

21 October, 2021

trustpilot-stars

Easy to use and very quick.

Easy to use and very quick.


JOSE

21 October, 2021

trustpilot-stars

For my first loan a success

For my first loan this was as simple as it gets! They are available to help out as soon as you start your process!


CHRISTAL

21 October, 2021

trustpilot-stars

Fast and Hassle Free!

Fast and Hassle Free!


ROBIN

21 October, 2021

trustpilot-stars

We used our Best Egg loan to…

We used our Best Egg loan to consolidate some things that ended saving us like 300 a month, also some vehicle repairs on my husbands truck. Was very fast and easy process


JANET

20 October, 2021

trustpilot-stars

Saving $500 a month

I have now been able to pay off 3 credit cards, stock up on some groceries. It feels good because now I can save about $500 dollars a month Tank you Bestegg for this wonderful opportunity ❤


JUAN

20 October, 2021

trustpilot-stars

I must say that the process was a…

I must say that the process was a breeze. I took a loan out to consolidate my credit cards with a much lower APR. Not to mention that it raised my credit score. Thank you Best Egg!!


GJLANZ

20 October, 2021

trustpilot-stars

Simple and Fast

Easy, Fast process! I honestly thought there was another step. Nope! Your approved funds should be in your account 1-3 business days. On day 2 funds arrived. And reasonable rate!


JOSH

20 October, 2021

trustpilot-stars

Fast and efficient

Fast and efficient


JAY

20 October, 2021

trustpilot-stars

Well I thought I be able to pay credit…

Well I thought I be able to pay credit card down, but it got harder making min payments $1400 a month went to them every month for 3 years never seem to go anywhere. LoL Things all ways came up. So I made the call . Reminder I been paying 3 years already so now I have $700 a month going out that’s half. So now I comfortable no stress thanks


CARMISHA

20 October, 2021

trustpilot-stars

Have you ever read reviews and said

Have you ever read reviews and said, "hmmmm, are these real reviews?" because they seemed so "perfectly written" and they all read the same way? I have and for that reason, I rarely believe what I read. I always think the reviews are fluffed however here I am writing this perfect review for Best Egg, lol. I honestly do not have the words for how efficient and responsive this company is. In the middle of requesting my loan, this angel called my phone to walk me through any questions and answers I may have had. Uploading my documents were as simple as 123 and every agent that I spoke to throughout the process was super sweet and professional. If you're thinking about getting a loan with Best Egg, go for it. You will be happy you did.


HAROLD

20 October, 2021

trustpilot-stars

I was skeptical about an online…

I was skeptical about an online company. I applied and was surprised to see the rates. After checking the local banks for unsecured loan rates, I found them to be about the same. I accepted the offer from Best Egg. The most amazing thing about the process is how simple and quick the process is. 1 day and I have the money I need for the sunroom.


AKALU

20 October, 2021

trustpilot-stars

To get the loan from multiple loaners…

To get the loan from multiple loaners was like the way going to heaven for me . Some of them were joking, like offering me from $125 up to $700. It’s really a joke for someone like me who make $1500 to $1700 per week. It’s really great opportunity to get a loaner like best egg at a critical time. Best egg is the only one. Thank you 🙏!!


TONJA

20 October, 2021

trustpilot-stars

Great Experience

Great Experience! Will definitely advise others to apply!


BRANDON

20 October, 2021

trustpilot-stars

So I just had the best experience with…

So I just had the best experience with best egg, My 1st loan was $20k And my 2nd loan was 25k and each loan was under 17% APR, and the loan came his within 2 business days the 1st loan came the next business day the 2nd loan came in 2 business days. I have nothing but good things to say about this company. I really don't do reviews but I had to do it because I just had a good experience with this company.


TONYA K

19 October, 2021

trustpilot-stars

You have to jump through hoops to get a…

You have to jump through hoops to get a loan here. I’ve uploaded several documents and they are still asking for more. If u wanna give up your first born too apply here. Terrible service.


BEN

19 October, 2021

trustpilot-stars

Good service quick approval money in my…

Good service quick approval money in my account in two days great job Best Egg


LINDA

19 October, 2021

trustpilot-stars

While I am very grateful for the loan…

While I am very grateful for the loan and the ease of obtaining it, I sincerely feel that this being my 2nd loan the interest loan and origination fees were a tad excessive. While I understand there is no pre payment penalty an almost 2000.00 origination fee and the high interest rate still made me hesitate and even now I am doubting myself.


PETER

18 October, 2021

trustpilot-stars

Very easy

Very easy, Fast deposit. Would use again!


HUSEYIN KIZILYIL

18 October, 2021

trustpilot-stars

missisng informations

credit karma offered me a personal loan. they are working with best egg .high interest with low amount plus when they check your credit score and damage your credit score they want to permanent citizenship id.if they said before the hard inquiry I have never accept the offer because I have only a work permit. now they said we apologize you can not use your loan without a permanent id.this is not fair.


CUSTOMER

18 October, 2021

trustpilot-stars

Fast and efficient

Fast and efficient. Thank you.


EDI DOUGLAS

18 October, 2021

trustpilot-stars

I applied for a loan for more than 3…

I applied for a loan for more than 3 weeks now did my last calling with the number on file since last week finished with all the verification steps but yet my loan still on pending, I'm just sad no one can just feel like collecting a loan from you guys and gt instant verification. Sherry


LILINE

17 October, 2021

trustpilot-stars

I will recommend best egg to anyone

I will recommend best egg to anyone , they solve my problem at the right moment. Thank you


RODNEY

17 October, 2021

trustpilot-stars

Great customer svc

Great customer svc


CLAUDETTE

16 October, 2021

trustpilot-stars

Pay off credit cards

Pay off credit cards


MICHAEL

16 October, 2021

trustpilot-stars

Quick and Easy

I was looking to take a loan out to pay off credit card debt. I came across Best Egg and figured I would give it a shot. The process was very quick and easy! There employees were very helpful! Not only am I satisfied, but I plan on giving them more business in the future! Thank u Best Egg!


VICTOR

16 October, 2021

trustpilot-stars

Their fees are too high

Their fees are too high. They offer lower interest but end up are charging a higher interest and on top a fee for borrowing the monies


MICHAEL KEITT

16 October, 2021

trustpilot-stars

Best egg help consolidate and created…

Best egg help consolidate and created one payment


MICHAEL

16 October, 2021

trustpilot-stars

THREE BIG MISTAKES— management is…

THREE BIG MISTAKES— management is reviewing now!!!!


ABDULILAH

16 October, 2021

trustpilot-stars

Aals

Best service ever


DONNA

15 October, 2021

trustpilot-stars

Great experience

Great experience! Took about 5 minutes and money was in my account in 48 hours. Highly recommend!


MIKE

15 October, 2021

trustpilot-stars

Fast easy process.

Fast easy process.

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