Best Egg: Personal Loans Review

  5,561 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   5,561 Reviews

trustpilot-stars

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


NICK GARONE

23 July, 2021

trustpilot-stars

Great job guys

Great job guys


CHARLOTTE JORDAN

23 July, 2021

trustpilot-stars

For personal reasons I had a lot of…

For personal reasons I had a lot of credit card debt and I was able to knock down some of that debt. My loan payment and its APR are much more workable and they responded so quickly and now I will be able to repay them.


DOTRYE

23 July, 2021

trustpilot-stars

This company is awesome!

This company is awesome!! Hands down for sure. Very prompt, promising and concerned about there customers. Thank you for a breath of fresh air. Used the loan for my wedding. I was able to do extra things with this Loan. Will definitely use Bestegg again.


GERMAINE STEPHENSON

23 July, 2021

trustpilot-stars

This loan helped to consolidate some…

This loan helped to consolidate some debt,Thank You, Germaine Stephenson


LUIS TORRES

20 July, 2021

trustpilot-stars

Best Egg simply the BEST helping people with debt !!I have nothing better to say that Best…

I have nothing better to say that Best Egg is simply the BEST!!!! The application and underwriting to me it was in a time record , less that 24 hrs. Other lenders, they ask you to search to email to fax and they denied your application , after all your efforts. Best Egg did it without all that , my loan was approved in literally the same day that I applied for it and the funding was in my account in 24 hrs. I consolidated most of my credit cards and personal loans with high interest and now I can see that my debts are under control , my credit cards are on zeros and away of my reach. My income, I do can stretch it and put some money for emergency and keep up with my obligations. I can sleep better without the stress of all my debts are 4 and not 12 like it was before Best Egg. Thanks Best Egg and their team !!


EDWARD QUINTANILLA

12 July, 2021

trustpilot-stars

Low grade shysters; don't waste your time.

This company is just another, johnny come lately, shady loan operator that excels at switch and bait like tactics to lure you in. Worst, is they'll ask for your personnel bank sign-in info so their cracker jack AI can supposedly determine how high of an APR they're going actually offer you--not the bait only APRs on their offers. Save some time and skip Best Egg ...you can thank me later.


EDMOND STROM

11 July, 2021

trustpilot-stars

Easy Personal Loan

If you ever find yourself in need of a personal signature loan, look no further than Best Egg Personal Loans. I wanted to consolidate my debt and make some home improvements at the same time. I had seen offers from Best Egg in my e-mail so I decided to check them out. I found that their rates were VERY competitive so I applied for the loan I needed. The process was very simple and easy to complete, I was walked through every step and had minimal problems completing the application. I was astonished at how quickly the decision was made and the money deposited into my account. The rate I got was excellent with a payment that was much less than the total I was paying each month for individual bills that I consolidated. Great experience and easy people to work with.


KIM ARENA

10 July, 2021

trustpilot-stars

I am very thankful for the quick and…

I am very thankful for the quick and easy process in obtaining this loan but the one thing I didn't like was not getting the full amount of my loan,they kept 250.00 out of it


VALERIE MEDINA

10 July, 2021

trustpilot-stars

Happy Customer

I needed a quick Loan for an emI got my loan in 2 days and paid it off without a penalty.


CUSTOMER

09 July, 2021

trustpilot-stars

This was the easiest loan I ever…

This was the easiest loan I ever applied for. Great


LINDA

09 July, 2021

trustpilot-stars

Convenient Loan

Purchased a heat pump and paid off a few small bills.


MELISSA BARKLEY

09 July, 2021

trustpilot-stars

Paid off bills

Paid off bills, also have paid off my best Egg account!


ANGEL ARTETA

09 July, 2021

trustpilot-stars

Great loans

I was very impressed how quickly you approve my loan,solve my problem and I pay it ahead of time with no penalty,thank you again for your help.


ANNA K

09 July, 2021

trustpilot-stars

Had a few high interest credit lines…

Had a few high interest credit lines that I knew I was wasting time and money on. Tried my bank and they denied me (13 year job; very good credit, home buyer). Best Egg made it easy to see my options and take my time considering what was best for me without feeling pressured or overwhelmed with numbers. The online format is great. But even when I needed help asap, my phone call was answered and my issue handled promptly. I have a better plan now for paying off my debt faster; 1 bill to instead of 5. I really feel like I have a better handle on my finances...more room to breathe, less stress.


GREGORY CASACK

09 July, 2021

trustpilot-stars

With my Best Egg loan I was able to pay…get rid of high interest credit cards.

With my Best Egg loan I was able to pay off some high interest credit cards that just wouldn't go away, the balance was not high but the interest was and the payments just hung around a lot longer than I anticipated. Thanks to Best Egg I can see the light at the end of the tunnel!!!


HARI KARANGULA

09 July, 2021

trustpilot-stars

Great team

Great team, easy to work with


KEVIN

02 July, 2021

trustpilot-stars

Incredibly bad experience

In my opinion, Best Egg has mastered the art of bait-and-switch through semantics and legalese.


GLENN

02 July, 2021

trustpilot-stars

More Red Tape Than Getting a Mortgage

Best Egg invites you online to apply for a loan. They pre-approve your application and even give you the breakdown of payments, interest, term, etc. Then, the aggravation begins. They want more documents than the average bank needs for mortgage approval. I went on a 3 week back and forth with Best Egg, sending one document after another. Nothing was ever good enough. Finally, I reached a young lady that seemed to know what she was doing. The end result was my loan was denied. I was offered for other companies to take a look at the app and I refused. One hard inquiry is enough. Before you apply, make sure you realize your income and only your income counts. If you want to count your spouse's income, you're out of luck. This was not only a complete waste of time. It was utterly a long and painful process. Mortgages are approved quicker than a lousy few thousand dollar loan from Best Egg at high interest. Be prepared to jump through hoops even though they say their loans are funded with no hassle.


LOU MARTINEZ

01 July, 2021

trustpilot-stars

In a word "Exceptional"

In a word, "Exceptional". I was restoring a classic BMW and when I got the estimate, I was about $12K short of what I intended to spend. I really love my car and looked at several loan companies and came upon Best Egg. I applied and as I recall I received a deposit in my checking account within 2-3 days. VERY MUCH APPRECIATED. Your staff was efficient, punctual and it was a pleasure doing business with you and should I need another emergency loan, Best Egg will be my first choice.


HUNG PHAN

30 June, 2021

trustpilot-stars

this is my 2nd loan with Best Egg

this is my 2nd loan with Best Egg I'm completely satisfied with the way Best Egg doing business.The process is quick and easy, i got my fund within 3 days and they even gave me more than what i have asked for. I did recommended Best Egg to all my friends and family members.


F OLIVEIRA

29 June, 2021

trustpilot-stars

Best Egg was there when I needed them…

Best Egg was there when I needed them as this company was the only one who reached out to help me. Everyone who helped me was so kind and understanding. I will recommend this company to everyone I know that wants a good lending company.


AMALIA ACEVES

29 June, 2021

trustpilot-stars

Great personal

Great personal, great communication, easy process.


GERTY PERERA

28 June, 2021

trustpilot-stars

Easy and convenient process

Easy and convenient process


FRANK RODRIGUEZ

28 June, 2021

trustpilot-stars

BestEgg helped me when I did it most

BestEgg helped me when I did it most, Right Away. Thank you...


JEFFREY SKEELE

28 June, 2021

trustpilot-stars

Highly recommend

Highly recommend. I have nothing but great things to say about the whole experience!!!!!!


CHERYL DRAKE

25 June, 2021

trustpilot-stars

Very behind the scenes and dishonest…

Very behind the scenes and dishonest company. WHAT they don't tell you, which is a whole lot, is that NO INCOME THAT ISNT ON YOUR PRIOR YEARS TAX RETURN IS COUNTED. So if you are on workers comp or any non taxable income, they will CUT that from your income. HOWEVER, they won't tell you that you didn't get the loan, they will continue to have you send in very sensitive information, that they eventually use when they deny you, to help you find YET ANOTHER LOAN. But you don't find that out until you are done submitting EVEN YOUR DIRECT DEPOSIT. Cause I had to get a cancelled check in yesterday because the account numbers SUPPOSEDLY DIDNT MATCH SO THEY NEEDED A VOIDED CHECK NOW TOO.So eluding you got your loan. Then today, all calls stop, so I called and low and behold, "yea you'll have to fill out a new application and start ALL OVER because you didn't qualify", but they keep having you send your information in when they knew that long ago. So save yourself time, agony, risk of security of TONS of person information and know only income you could report on last year's tax return will be counted, JUST A LITTLE TIP AFTER TWO WEEKS OF BEING LED ON👍😳. Definitely try one of the honest competitors like SoFi or many others than seem to be honest up front. My loan went thru with SoFi within a matter of a few days, no hassles and non of the games, half the interest rate, Thank you for making doing business with you so horrible, I was able to find a great, honest company 👍


KIMBERLEE CARLISLE

22 June, 2021

trustpilot-stars

Best Egg Rocks!!

Best Egg has helped us in so many ways, my first loan helped us purchase our home and second helped payoff a high interest credit card and do some much needed remodeling. They definitely will be my go to company whenever we are in need of extra funds… Thank you!! ❤️


JOHN MILANO

19 June, 2021

trustpilot-stars

thanks to best egg I was able to…

thanks to best egg I was able to restructure my debt and now I have a chance to get out of debt in a few years thank-you for giving me a light at end of the tunnel


JOY NERI

19 June, 2021

trustpilot-stars

Easy to Apply and Best Customer Service!

Easy to Apply and Best Customer Service!


DANIELLE BROWN

19 June, 2021

trustpilot-stars

Best experience

Quick easy and hassle free

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