Best Egg

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Best Egg has been offering personal loans since 2014. Since then, it has funded over $2.5 billion in loans. Most Best Egg personal loans are used for consolidating high-interest debt. Other common uses include home improvement, business expenses, household expenses, moving or relocating, travel or vacation, credit card refinancing, or financing for other major purchases.

The Good

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

Great for High-Interest Debt Consolidation

Best Egg personal loans can be a great option for applicants looking to consolidate debt or pay off high-interest credit cards. The main reasons for this are its low APRs (which range from 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 additional fees. These terms present a manageable payback process that is much better than other credit alternatives.

24-Hour Approval Process

While the application process has its pros and cons, a major pro is having your loan approved the same day you apply. The pre-approval process usually takes only a few minutes. Once you have submitted all of the required verifications, the loan will be approved within 24 hours. Funds are typically dispersed into your bank account the business day after you have been approved. However, this can vary slightly depending on which financial institution you use and any rules or stipulations it has for transferring money.

Clear, Transparent Platform

Best Egg makes repaying your loan a simple process. Customers can make 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. Customers can also set up a payment at a Western Union office. It is good to keep in mind that there is a fee for each transfer. Best Egg is transparent when sharing information with customers. Clients are provided with 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.

The Bad

  • Strict Approval Requirements
  • Origination Fees

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 5.99 percent APR, applicants should have at least a 700 credit score and an annual individual income of at least $100,000; however, it should be noted that any applicants with a credit score over 640 can still qualify for loans from Best Egg, but at higher rates.

Origination Fees

Best Egg charges origination fees between 0.99 and 5.99 percent of the total loan amount. The company states 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. It is also considered when calculating the annual interest rate.

Want to know which personal loan company is top rated? Click Here

The Bottom Line

Best Egg is a great personal loan company for those who meet its requirements; however, approval may be difficult for some individuals to receive. Best Egg is quite selective with whom it will approve, taking into consideration debt-to-income ratio, income, and more. View Top Rated Companies

1028 Best Egg Reviews

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  • User Score

    10

    September 22nd, 2017 Redmond, WA

    After MUCH research about loans, and BestEgg having a "A" rating through the BBB, I also couldn't believe that the loan was such an easy process and in my account within 2 days. This was a lifesaver!!! Kept me from filing bankruptcy!!! Great company, Great Staff!!! Keep up the good work!!!!!!!!

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  • User Score

    10

    September 22nd, 2017 Overland Park, KS

    Best Egg is awesome! Very quick approval of my loan it took me less than 30 minutes to apply for a loan online and was approved right away. Thank you Best Egg!

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    0 0
  • User Score

    9

    September 22nd, 2017

    Excellent on-line experience, rapid results, and great overall service.

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    0 0
  • User Score

    10

    September 22nd, 2017

    Are you kidding me!!! The easiest and fastest loan in my life !!! I would recommend Bestegg to everyone.

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    0 0
  • User Score

    10

    September 21st, 2017 Passaic, NJ

    Best Egg provided me with the solutions I needed to clear out my credit card debts at a very affordable rate and the customer service agents are always willing to work with me if I need to make any changes to my payment due dates. I would highly recommend Best Egg to anyone I know who needs the same kind of help I needed.

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  • User Score

    10

    September 20th, 2017

    Very fast and easy process. Got my answer right away and it was easy to sync up with the bank and get the deposit. Interest rate competitive and helped me when I needed working capital.

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    2 0
  • User Score

    10

    September 20th, 2017

    Excellent service all around. Thank you for working with me to achieve my goal! It is greatly appreciated!

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    0 0
  • User Score

    10

    September 20th, 2017 Avon, IN

    This approval was so quick and easy, and is going to save me money monthly and over the long term with lower interest rates than my credit cards are charging. I would definitely recommend using this service.

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    0 0
  • User Score

    10

    September 20th, 2017 Charlotte, NC

    I am usually really skeptical especially online. And myself don't trust user reviews especially with so many scams online. Through nerd wallet when I saw best egg and their quote of best interest rate among online lenders, I went ahead and applied. It took hardly 15 minutes to have the loan approved. Even the delay is me uploading 2 docs online. Am surprised with the process being so easy and really a great help. Simply the best.

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  • User Score

    9

    September 20th, 2017 Chatsworth, GA

    The fastest easiest approval process I have ever seen.

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    0 0
  • User Score

    10

    September 20th, 2017 Memphis, TN

    Appreciate the easy professional application process and customer service

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    0 0
  • User Score

    10

    September 19th, 2017 'Ewa Beach, HI

    The loan process is one of the fastest and easiest way to work with. Best Egg made our family's dreams come true, in building our future when we needed it. thanks keep up the great work Best Egg!

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    0 0
  • User Score

    10

    September 19th, 2017 Nashua, NH

    Fast and easy for a online service. Very easy to read instructions.

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    0 0
  • User Score

    10

    September 19th, 2017

    My experience with this company was outstanding! I had a few questions and called customer service. Stephanie was a big help and answered all my questions. Thank you Best Egg

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  • User Score

    10

    September 19th, 2017 FL

    Awesome customer service , very easy to apply and very informative staff. When you are looking for Help Best Egg is the place to look.... Thank You

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  • User Score

    10

    September 19th, 2017

    Applying was the most straightforward process I have had bar none. Absolutely simple, no excessive forms or wait time.

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    0 0
  • User Score

    10

    September 19th, 2017

    My experience with Best Egg was awesome. I have never been treated with such respect and consideration. Thank you.

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    0 0
  • User Score

    10

    September 18th, 2017 Los Angeles, CA

    So easy to apply, and actually a better rate than my cards! Thank you!

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    0 0
  • User Score

    10

    September 18th, 2017

    This was a fast and easy transition. Help me consolidate my high interest credit into one easy payment.

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    0 0
  • User Score

    9

    September 17th, 2017

    Online application was a breeze took less then 5 minutes that was awesome!

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    0 0