Best Egg is a personal loans lender and has been in operation since 2014. It has funded over $7 billion in loans. Most Best Egg personal loans are used to consolidate high-interest debt, like credit card debt. Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC.
Loan amounts generally range from $2,000-$35,000. Best Egg offers fixed term plans and origination fees from 0.99-5.99 percent. 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. The company boasts an A+ rating with BBB and has served more than 420,000 customers. With an exceptional consumer star-rating on BestCompany.com, Best Egg reviews indicate a quality company with quality service.
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* (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.
Best Egg gives this comparison on its website: if you have two credit cards both with a $10,000 balance and a 28-year minimum payment duration, you will pay $25,589 in interest if credit card one has a 14 percent APR and credit card two has an 18 percent APR. In comparison, if you have a Best Egg loan of $20,000 with a 5.99 percent APR and a three-year minimum payment duration, you will only pay $1,901 in interest. With the same balance and a better APR, Best Egg's loan could save you $23,688.
After the application process is complete, Best Egg provides an instant decision (approved or declined) to the borrower. Because Best Egg is an online lender, the loan application process is quick and easy, making it simple for consumers to receive funds. After submitting any documents to get verified, customers could have their money in their bank or checking account in as little as one business day. Nearly all customers will be funded within three business days after final approval, depending on their banks’ policies.
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's website is easy-to-use and transparent and has the majority of information you will need with answers to common questions you may have. Your personalized Best Egg login also has your account information listed, including account balance, payment due date & amount, late payment info, as well as your payoff amount. Having all of this readily available to you makes it simple to manage your personal loan and ensure you stay up-to-date with payments and important changes to your account.
With personal loan companies especially, you want to ensure you go with a trustworthy company that has positive consumer reviews. In the thousands, the majority of Best Egg reviews left on BestCompany.com from real consumers are overwhelmingly positive, highlighting a quick and straight forward loan application and process, satisfactory rates, and excellent customer service. Best Egg complaints are limited. You can read all current Best Egg reviews below.
Best Egg does not charge any prepayment fees or penalties if you decide to make extra payments or repay the loan quicker than the due date requires. Prepaying on your loan will reduce the amount of interest you pay, so this will only benefit you if you choose to do so. Be sure to regularly communicate with Best Egg once you have your loan, so you always know what your payoff amount is. You can also see your payoff amount at any time through the Best Egg account portal. This will also show you how much you will save in interest fees if you pay off your loan early.
Best Egg personal loan due dates are subject to change for eligible borrowers. This allows flexibility for consumers to change the due date if necessary. For example, if you prefer to pay your bills at the end of the month versus the beginning of the month, Best Egg will work with you and will help you decide on a due date that works best for your budget and financial situation.
Best Egg offers its personal loan services to 47 states. Having nearly nationwide service creates more opportunities for consumers to work with Best Egg. Many personal loan lenders don't offer their loan solutions to this many states, making it difficult for borrowers residing in non-covered states.
Best Egg offers fixed-term plans for its personal loans. This means your personal loan term will never change and if you have a fixed-rate loan, your payments are not subject to change. The amount you pay each month will not fluctuate, and your rates will stay the same throughout the lifespan of your Best Egg loan. This provides peace of mind and stability to borrowers and makes it easier for them to stay on top of payments, as there will be no surprises or unsuspected changes made to their personal loan. Loan terms are also flexible and can range from three to five years.
Best Egg loans typically range from $2,000 to $35,000. However, for eligible customers, Best Egg offers loans up to $50,000. On its website, Best Egg states: "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."
Best Egg offers simple interest loans rather than compound interest loans. Explained on Best Egg's site, "Simple interest is calculated on the outstanding principal balance only. This means you aren’t paying interest on top of your interest like credit cards." Compound interest loans charge interest on the principal as well as on accumulated interest from past non-payments.
When you check your rates with Best Egg, this will not impact your credit score. Best Egg completes what is called a soft credit inquiry to see if you are eligible and to determine what your rates would be. This makes it easy for potential borrowers to compare rates and decide if Best Egg is right for them without negatively impacting their credit in the process. The soft credit inquiry will only become a hard inquiry if you choose to accept Best Egg's loan offer. This will then, as with any other loan, impact your credit score.
Best Egg has strict approval requirements for its loan offer 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. It's important to note that many top personal loan companies have a similar credit score requirement.
Best Egg charges an origination fee between 0.99 percent and 5.99 percent of the total loan amount. The origination fee is the one-time cost for Best Egg processing the loan. Unlike the interest rate, the APR includes both the interest rate and all fees, including the origination fee.
Best Egg 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 gives this example on its website: "If you select a loan for $10,000, with an Origination Fee of 4.99%, your Origination Fee is $499 and will be deducted from the full loan amount. The amount deposited in your bank account will be $9,501."
Best Egg does not currently offer joint loans. Only individual loans are available. However, this is common within the personal loan industry, as most personal loans are needed on an individual basis. Also, when you apply for a Best Egg loan, you have the choice to include your household income rather than just your individual income. Your household income includes your individual income as well as any other earnings within your household.
Best Egg has only been in business since 2013. Although that isn't as long as some other lenders in the industry, Best Egg has proven itself through consumer reviews and customer satisfaction that it is a top-notch quality lender. Time in business may not prove to be a problem with customers because of this.
As part of our service, we attempt to partner with all the companies that we review, and may get compensated when you click or call them from our site; however, regardless of any current, past, or future financial arrangements, companies listed on Best Company cannot buy their position, nor do we manipulate or inflate a company's ranking for financial gain. A company’s ranking is based on and calculated by an objective set of ranking criteria, as well as user reviews. For more information on how we rank companies, click here.
All user reviews posted on Best Company are subject to screening and approval. We reserve the right to approve or deny any review posted to this site in accordance with our Review Guidelines. Best Company never suppresses user reviews—unless they are being investigated for authenticity, or if they violate our review guidelines. We encourage anyone who suspects a user review to be fraudulent or intentionally inaccurate to please notify us here.
I was offered a debt consolidation loan by Best Egg a few months back via email. I wasn't really in the market, and I'm not sure why I even clicked the link, but the rate was extraordinary and the amount was just right. A few months later, I got yet another offer from them which allowed me to consolidated my 2 car payments into one loan at a lower aggregate rate and shorter term. EASY!
I have had 2 great experiences with Best Egg. Fast and easy to apply. Very friendly and courteous when you speak to someone. Can do most all the transaction on line.
Great, simple process! Very good interest rate!
Easy to understand instructions, not alot of useless information, quick and easy.
Multiple offers presented quickly for consideration. Easy process.
So easy to apply and complete a loan. We consolidated our credit cards and went from 24% interest to a 7% interest rate!!!!! Now we can finally achieve financial freedom!!!
This was my second loan from Best Egg. I was very satisfied with the time it took to process my application and receive my funds.
Able to download all documents needed to secure loan. Funds downloaded to my bank in 2 business days. A pleasurable way to borrow.
Fantastic . Easier than last time. Did it at the comfort of my couch, no hassle I would definitely recommend bestegg to my friends and family
Everything was handled in a very professional and efficient manner.
So easy to apply and quick answer. I would definitely recommend.
This is my second loan with Best Egg. The whole process is so easy and fadt. And I got a good rate.
I have not received my loan yet but process has been extremely easy and simple.
The loan process was quick and clear and the APRs were low along with the origination fees. Very satisfied with my loan amount, payment terms, and the duration of my loan repayment.
I received quick and easy application and service. I would recommend Best Egg to anyone looking for a personal loan. From start to finish it was less than a week before I had my money/
Easy online loans. Great rates. Easy repayment that fits my budget.
I was able to obtain the loan I needed to pay off high interest rate credit cards. The rate was competitive and the process was very simple.
easy process. thank you for the quick help. I would recommend this service compared to others that I've researched.
I did not know that I would get my loan so quickly. This is a very good, great, best, company. I was able to use the money as I needed. Thanks so much
First off no one every wants to borrow money! However if , like me, you find yourself needing a short term loan for a specific reason then Best Egg is simply the best. If you have a high credit score and a plan then do not look anywhere else! Fast, easy and was a perfect fit for me! Thank you
Fast and easy process. Good APR compared to other companies
What a delightful experience! How many people can say that about a loan process? I will totally recommend Best Egg to my friends and family.
Quick and easy application process. Good rates! Will use Best Egg again.
Extremely easy, so easy was worried I got scammed, but money was in the bank quickly and all details emailed. Very fair repayments and the auto pay is perfect. Thank you Best Egg!!
Great experience ! Start to finish, had my loan deposited in under 30 minutes. Thanks.
The best company I could find in research for a personal loan. Simple, easy process and fast funding. I highly recommend Best Egg.
great experience the first go round. very happy with the loyalty discounted rate for my second time. thank you
Very easy to apply, the process was quick and painless. The money was put into my account within days
Quick and easy to deal with. Rates are a little high. Overall smooth process
Very easy process, good and polite representatives. I would recommend your company.
I found the application process extremely easy and I got a good interest rate, though I was hoping for something a bit lower based on the push advertising I'd been receiving. Still a good deal and extremely lower rate than credit cards. I got the money quite fast and my monthly payment is very manageable. This is my second loan with BestEgg and I've been satisfied with the service. BestEgg also received good ratings from an industry journalist, which helped me trust in their service. I can't remember the journalist, but it was a list of reputable lenders from an impartial party. I appreciated that information. My only con is that I can't make extra payments that are less than my monthly payment. Those have to be equal to or more than the monthly payment. But that's not too bad. Overall, I'm happy with my experience.
Very easy application process and incredibly quick.
Easy application process, everything is explained in the truth in lending statement, and 3-day grace period. I'd definitely recommend this lending company!
Painless, fast process. I am so appreciative!
Process was simple and as advertised. Communication through the steps was very good. As with any load scenario, strongly consider your personal situation.
This is the simplest most user friendly online process I have come across. Everything was explained in plain English, selection of options was simple and direct. The interest rate charged is competitive and term of loan exactly what I wanted. Would recommend to everyone!
I am very pleased that the loan process was quick and easy, but not terribly pleased with the interest rate.
This is my third time using Best Egg, and it's a pleasure to do business with them. The process is so streamlined and easy. Plus the funds are available within a few days or sooner. I would definitely recommend Best Egg.
Excellent and professional. Informative on rates and early payoff. Process seamleaa
Extremely user friendly and super fast approval. Very happy and highly recommend to anyone in need of money fast!
was always available to get rid of those darn credit cards..
Very easy to deal with... and fast with answers to questions.
The entire process was fast, efficient, and easy. Terms more than acceptable. Thank you for making it painless!!
Very easy loan process and will tell you if you approved or not in pretty fast response time.Get your funds quick if approved.
Absolutely amazing in quickness, efficiency, and easy to navigate
Thanks to Best Eggs online application I've used them when I was low on funds. my 2nd loan was needed to pay taxes, unfortunately do to my transmission going out in my truck the money I had to pay taxes was used to buy a new transmission and I was in a crunch to get money because 4/15/19 was coming up quick! Thank you Best Egg for making the process easy
I'm very pleased with Best Egg because they are quick on loan applications without a thousand questions to answer and professional and friendly service ..what more could anyone want? i'm very happy with best egg.....
Good customer sevice and very fast amzing
I did not know what best egg was but the more I read comments from other reviews I wanted to give it a try. When I applied it was very easy.
Easy application process, and quick decisions