• Great for High-Interest Debt Consolidation
• Instant Approval Process
• Clear, Transparent Platform

Great for High-Interest Debt Consolidation

Best Egg personal loans can be an excellent option for applicants looking to consolidate debt or pay off high-interest credit card debt, primarily due to its low APRs* (which 5.99 to 29.99 percent) and long max loan lengths (three or five years). Best Egg also gives its borrowers the opportunity to pay off their loan faster than is scheduled without being charged any prepayment penalties. These loan terms provide a manageable payback process that is typically much more effective than other credit alternatives.

Instant Approval Process

After the application process is complete, Best Egg provides an instant decision (approved or declined) to prospective borrowers. Once the potential customer has submitted all of the required verifications, the funding of the loan can happen in as little as one day. Funds are typically dispersed into the borrower's bank account the business day after they have been approved. This can vary slightly depending on which financial institution the borrower uses and any rules or stipulations it has for transferring money.

Clear, Transparent Platform

Best Egg makes repaying loans a simple process. Customers can make loan payments by setting up an automatic electronic funds transfer, paying online, or sending a check through the mail. Payments sent in the mail should be given at least five to seven days to reach Best Egg. Borrowers enrolling in autopay for their monthly payments don’t have to worry about a payment processing fee. Customers can also set up monthly payments at a Western Union office. Keep in mind that there is a fee charged for each transfer.

Best Egg is transparent when it comes to sharing information with customers and provides clients with loan terms, including the fixed interest rates and monthly payment amounts, upfront. Best Egg also provides an easy-to-find, clear privacy policy on its website with information detailing how to limit the sharing of clients' personal information.

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• Strict Approval Requirements
• Origination Fee

Strict Approval Requirements

Best Egg has strict approval requirements that can be difficult for subprime applicants to meet. In order to have the best chance of qualifying for Best Egg's lowest rate 5.99 percent APR, applicants should have at least a 700 credit score and an annual individual income of at least $100,000. However, any applicant with a credit score over 640 is eligible to qualify for a loan from Best Egg at a higher rate.

Origination Fee

Best Egg charges an origination fee between 0.99 percent and 5.99 percent of the total loan amount. The company states that any five-year loan will have an origination fee of at least 4.99 percent. This fee is deducted from the loan when funds are deposited into your bank account, and is considered when calculating the annual interest rate.* 

Best Egg is the consumer brand of Marlette Funding. It is a great personal loan company that offers borrowers loans for a variety of purposes, including consolidation loans, credit card refinancing, and home improvement. These are encompassed in a quick approval process and a transparent platform.

Best Egg is unlike other online lending platforms that have to wait for investors to fund your loan. The company has investors who are ready to say "yes," to qualified applicants, which allows Best Egg to transfer funds electronically to a bank account in as little as one business day.

Best Egg loans are unsecured loans with a fixed monthly payment for the life of the loan. The online loan application process takes a few minutes to complete. Customers don't have to worry about checking rates impacting their credit score. There is also no prepayment penalty fee. However, approval may be difficult for some individuals to receive. Best Egg is quite selective with whom it will approve and takes into consideration debt-to-income ratio, credit history, income, and more.

*The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 5.99%-29.99%, which may include an origination fee from 0.99%–5.99% that is deducted from loan proceeds. Any origination fee on a loan term 5 years or longer will be at least 4.99%. The APR offered will depend on your credit score, income, debt payment obligations, loan amount, loan term, credit usage history and other factors, and therefore may be higher than our lowest advertised rate. Requests for the highest loan amount may result in an APR higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest rate.

Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. Equal Housing Lender. "Best Egg" is a trademark of Marlette Funding LLC. All uses of "Best Egg" on this site mean and shall refer to "the Best Egg personal loan" and/or "Best Egg on behalf of Cross River Bank, as originator of the Best Egg personal loan," as applicable. Loan amounts generally range from $2,000-$35,000. Offers up to $50,000 may be available for qualified customers who receive offer codes in the mail. The minimum individual annual income needed to qualify for a loan of $50,000 is $130,000. Borrowers may hold no more than two open Best Egg loans at any given time. In order to be eligible for a second Best Egg loan, your existing Best Egg loan must have been open for at least six months. Total existing Best Egg loan balances must not exceed $50,000. All loans in MA must exceed $6,000; in NM, OH must exceed $5,000; in GA must exceed $3,000. Borrowers should refer to their loan agreement for specific terms and conditions. Your verifiable income must support your ability to repay your loan. Upon loan funding, the timing of available funds may vary depending upon your bank's policies.

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, Best Egg will ask for your name, address, date of birth, and other information that will allow the company to identify you.