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Best Egg

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8,541 User Reviews

9.9

Overall Score

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Best Egg is an online lending platform focused on personal loans. The company has helped fund over $7 billion in personal loans since its founding in 2014. Most Best Egg personal loans are used as debt consolidation loans to pay off high-interest debt, like credit cards, but you can use them for a variety of expenses.

With an exceptional consumer star-rating on BestCompany.com, Best Egg loan reviews indicate a quality company with exceptional service. These reviews offer a comprehensive look at the pros and cons of borrowing money through this service through the lens of people like you.

Continue reading for a full review of the company, as well as verified Best Egg reviews.

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Highlight:

  • Loan amounts — $2,000–$50,000
  • Time to funding — As quick as 1 business day after approval and verification
  • Origination Fee — 0.99–5.99%
  • Minimum income — $35,000
  • Minimum credit qualification — 600
  • Loan repayment term — 36–60 months
  • Rates (fixed) — 5.99%–29.99% APR (As of March 2021)
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The Good

  • Approval Requirements
  • Great for High-Interest Debt Consolidation
  • Instant Decision Process
  • Clear, Transparent Platform
  • No Prepayment Penalty Fee
  • Due Date Changes for Eligible Borrowers
  • Fixed-Term Plans
  • Simple Interest Loans
  • No Credit Impact for Loan Pre-Qualification
  • Positive Best Egg Reviews

Approval Requirements

Best Egg has lower approval requirements than you might get with other lenders.

To qualify for Best Egg's lowest rate, 5.99 percent APR, applicants should have at least a 600 minimum credit score and an annual individual income of at least $35,000.

Many other personal loan lenders have more strict approval requirements that could be challenging to meet, especially for subprime borrowers.

Great for High-Interest Debt Consolidation

Are you looking to consolidate your debt with a personal loan?

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 annual percentage rates ( APRs*) ranging from 5.99 to 29.99 percent, and loan terms ranging from three to five years.

Best Egg also gives 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 many other debt relief or consolidation companies.

Best Egg gives this example of how a debt consolidation loan can help with credit card debt:

"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 the first credit card has a 14 percent APR and the second credit card 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 debt consolidation loans could save you $23,688.

Instant Decision Process

After the application process is complete, Best Egg provides an instant approval decision. Because Best Egg is an online lending platform, the loan application process is quick and easy, making it simple for consumers to apply and receive funds.

After submitting any documents for verification, customers could have money in their bank 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.

It is important to note that most personal loan lenders have an online application, but some will also require applicants to speak with a company representative over the phone to complete the process. A entirely online application can save you more time and get you funding much faster, as is the case with Best Egg.

Clear, Transparent Platform

Best Egg makes repaying loans simple, with several options to make loan payments:

  • Setting up automatic payment through electronic funds transfer
  • Paying online
  • 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 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 fixed interest rates and monthly payment amounts. Best Egg also provides an easy-to-find, clear privacy policy on its website with information detailing how it limits the sharing of clients' personal information.

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 and 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.

No Prepayment Penalty Fee

Best Egg does not charge a prepayment penalty fee if you decide to make extra payments or repay the loan faster than your loan term 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 see your payoff amount at any time through the Best Egg account portal. This will also show you how much you could save in interest fees if you pay off your loan early. Penalty-free prepayment is always preferable, especially if you are looking for a consolidation loan with the goal of eliminating needless interest and fees on your other accounts.

Due Date Changes for Eligible Borrowers

Best Egg personal loan payment 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, when possible, will work with you to decide on a due date that works best for your budget and financial situation.

Fixed-Term Plans

Best Egg offers personal loans with fixed-term plans.

This means that the amount you pay each month will not fluctuate, and your rates will stay the same throughout the lifespan of your Best Egg loan term.

This provides peace of mind and stability to borrowers and makes it easier for them to stay on top of payments throughout the loan term, as there will be no rate changes that can be expected with a variable rate personal loan. 

Simple Interest Loans

Best Egg loans offer simple interest loans rather than compound interest loans. Simple interest can save you more money overall because interest is calculated only on the outstanding principal balance. Compound interest loans charge interest on the principal as well as on accumulated interest from past non-payments, thus potentially increasing your payments.

No Credit Impact for Loan Pre-Qualification

When you check your rate and potential to qualify through the Best Egg lending platform, your credit score will not be impacted.

Like many online lenders, Best Egg uses a soft credit inquiry to see if you are eligible and to determine what your rates would be. This requires entering personal details including your name, address, social security number, annual salary, whether you have recently used your credit card for a cash advance, etc. The opportunity to pre-qualify makes it easy for potential borrowers to make smarter financial decisions. They can compare lender rates and decide if Best Egg is right for them, without negatively impacting their credit in the process.

If you choose to accept Best Egg's loan offer a hard credit inquiry will be performed, which is standard in the industry. 

Positive Best Egg Reviews

The majority of Best Egg loan reviews left on BestCompany.com from real customers are overwhelmingly positive, highlighting the following:

  • Quick and straightforward loan application and process
  • Satisfactory rates
  • Excellent customer service

Best Egg complaints are limited.

If you are interested in reading all current Best Egg reviews, click here.

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The Bad

  • Loan Origination Fees
  • No Joint Loans Available
  • Not Available in all States

Loan Origination Fees

Best Egg personal loans have an origination fee between 0.99 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 loan with a five-year repayment period will have a loan 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.*

No Joint Loans Available

Best Egg does not currently offer joint loans. Many other lenders have a joint loan and/or cosigner option which can help subprime borrowers qualify and receive lower rates.

If you are looking for a personal loan, but want to apply with a cosigner, consider lending sites like FreedomPlus and Upgrade, or peer-to-peer lending platform, LendingClub.

Not Available in all States

Best Egg's personal loan products and services are available in 47 states, including Washington, D.C. However, loan products and services are not available in the following states:

  • Iowa
  • Vermont
  • West Virginia

If you reside in any of the listed states, you will need to look into other personal loan company options.

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The Bottom Line

The Best Egg platform offers personal loans to borrowers with good credit and excellent credit. These loans can be used for a variety of purposes, including debt consolidation loans, credit card refinancing, and home improvement — but cannot be used for a student loan or auto loan (which is typical for personal loan companies). These loans are encompassed in a quick approval process and a transparent platform.

Best Egg is unlike online peer-to-peer lending platforms that have to wait for investors to fund loans. Its financial institution partner, Cross River Bank, is ready to fund qualified applicants, which allows Best Egg to transfer funds electronically to a bank account in as little as one business day.

Best Egg offers unsecured loans with a fixed monthly payment for the life of the loan. The online loan application process takes a few minutes to complete. A soft credit check will be performed once an application is submitted, but customers don't need to worry about this credit check having an impact on their credit score or showing up on a credit report. There is also no prepayment penalty fee.

Approval requirements are low and minimal, which is particularly good news for subprime borrowers — Best Egg's minimum credit score is 600 and minimum income is $35,000. This could make it easier to approved for a personal loan, although your rates and terms will still be dependent upon your finances.

Read Best Egg loan reviews below to see what consumers are saying about this online lending service.


*Trustpilot TrustScore as of June 2020. Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. “Best Egg” is a trademark of Marlette Funding, LLC. All uses of “Best Egg” 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. The term, amount and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000– $50,000. Residents of Massachusetts have a minimum loan amount of $6,500 ; New Mexico and Ohio, $5,000; and Georgia, $3,000. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $50,000. Annual Percentage Rates (APRs) range from 5.99%–29.99%.  The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–6.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be 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 APR. 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. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

 

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Star Rating

4.9

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8,541 Reviews

Review Breakdown

5 grade

92%

4 grade

7%

3 grade

1%

2 grade

0%

1 grade

1%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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star star star star star

Kellie Du Quoin, IL

The application was simple to fill out. The APR / fees are spelled out clearly. The APR is less than some of my credit cards, being paid off.

22 hours ago

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Verified Customer

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Andreas Kammerer North Franklin, CT

They have always been their and supported my needs during a time of crisis!

22 hours ago

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Verified Customer

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Greg Faust Middletown, CT

Good company easy to contact, just wish there was an option to make the automatic monthly payment early

22 hours ago

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Verified Customer

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Olivia Broomfield, CO

Great loan rate, easy online service, good communication

22 hours ago

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Verified Customer

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Wendy E Herndon Oakland, CA

Very easy application process and excellent customer services.

22 hours ago

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Verified Customer

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Fernando Garcia Sacramento, CA

Efficiency and great service with friendly feedback

22 hours ago

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Verified Customer

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Larry Cervarich Goodyear, AZ

I have always been treated in a friendly manor. I never felt any pressure to obtain a loan of any type. I would recommend you service to anyone..

22 hours ago

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Verified Customer

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Matthew Adams San Luis Obispo, CA

They are sooo easy to work with walked me through it

22 hours ago

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Verified Customer

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RICARDO MARTINEZ Victoria, TX

They were great,always room for improvement.

22 hours ago

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RITCHIE D GRACEY Springdale, AR

When everyone else said no best egg hooked me up fast and very easy.

1 day ago

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Kenneth king Brookings, OR

The process was extremely easy to use. Scary how easy.

1 day ago

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Robert M Toguchi

Excellent experience! Great way to move forward.

1 day ago

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Mohammad Fairfield, CT

The whole process was easy, fast and clear.

1 day ago

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Kyle Breslin Crofton, MD

Very easy to use and happy to get these credit cards paid off

1 day ago

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Salvador Taegar Wellington, FL

So far the signing up was trouble free, hoping this is a good start with Best Egg. Thank you for accepting my application..

1 day ago

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Sarah Slider Denver, CO

Easy processing. Eveything is straight forward!

1 day ago

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Roberto Aloi Lake Worth, FL

The process literally took minutes. I wanted to consolidate some of my credit card debt and am only subject to an interest rate of 4.99APR for $5k. It's a no brainier compared to paying the outrageous APR on transitional credit cards. I'll have my money I'm the next 1-3 days and apply the amounts I want. I can also pay off the loan early with no penalty. This is a no brainier guys and girls!

1 day ago

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Nestorpg San Anselmo, CA

It was super easy and stress free!!! I’m glad I did it!

2 days ago

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Larry Phillmore Chase City, VA

Applying was easy and they are doing most of the work with Direct Pay and Autopay. I only have to wait for the final payment date to arrive. Now that's really what I would call hassle free. Lower monthly payments mean that I will have more money in my pocket during these covid times. Etc., etc., etc.. I could go on and on. I just got my loan approved.

2 days ago

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Kathleen Koseoglu Warwick, RI

Quick and easy to setup and receive the funds.

2 days ago

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John Felter Helena, MT

Very user-friendly. Easiest loan I ever applied for and approved right away.

2 days ago

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Sandyford Los Angeles, CA

Very easy and simple to use and app was real easy to navigate.

2 days ago

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Pamela T Fort Leonard Wood, MO

This was the easiest online application. I am amazed at the quick response. I am looking forward to a wonderful relationship with Best Egg for the next three years

2 days ago

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Joseph P Thull Seattle, WA

I have borrowed from Best Egg twice before. Have been very pleased with the entire process. Would highly recommend this company..

2 days ago

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Teri-Ann LeClair The Villages, FL

Easiest loan ever applied for. 2 days is all it took. I would use them again.

3 days ago

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Eric Whiting St. Cloud, FL

The website is fast and easy to understand Interest rate a little high Process was quick

3 days ago

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Kelly C! Woodstock, GA

There were some snags I experienced with the the application web pages that would have caused me to record a lower overall rating, but the customer support rep that helped me was patient and knowledgeable.

3 days ago

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Dan Moore Navarre, FL

Was simple to fill out information. Approval process was quick

3 days ago

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Samantha Philadelphia, PA

The application process was quick, easy, straight forward and quite efficient.

4 days ago

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Teresa Thomson Los Lunas, NM

The loan process was quick, private and very easy to understand. This is going to make my life so much easier. I've been struggling for too long. This is giving me the opportunity to finally get my finances under control so that I can get out of debt once and for all.

4 days ago

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Kalin Wate Seattle, WA

Very well organized application process! Fast and simple..thank you

4 days ago

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Reply from Best Egg

Fast and simple is what we like to hear! Thanks for sharing!

Apr. 16th, 2021

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Terry Badolato Glen Head, NY

Easy application process. Super good service from loan officers. Very quick turn around for loan monies deposit. Very happy!

4 days ago

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Reply from Best Egg

If you're happy, then we're happy!

Apr. 16th, 2021

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Rick James Adel, IA

My loan officer was absolutely brilliant to work with. She was patient, answered all of my questions and made the process simple and hassle free. I couldn't have asked for more. Add to that an incredible rate...well let's just say my home improvement project is as good as done.

4 days ago

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Reply from Best Egg

Thanks so much for sharing, Rick!

Apr. 16th, 2021

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Mark Peterson Norwalk, CT

Best Egg made the process very easy and quick

4 days ago

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Reply from Best Egg

Quick and easy is what we like to hear!

Apr. 16th, 2021

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Mario P Somerset, KY

easy to work with great experience fast and efficient

5 days ago

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Reply from Best Egg

We are pleased to hear we made it easy for you!

Apr. 16th, 2021

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Jeri Palmdale, CA

It was quick and awesome! Thank you so much

5 days ago

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Reply from Best Egg

The pleasure is all ours :)

Apr. 16th, 2021

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Neuron EdGe Havertown, PA

Application was smooth and easy, without a lot of unnecessary details requested (which are in the credit report anyway). After the first few online steps, they were honest with the amount I was pre-approved to apply for, and approved the loan in the same online session. Probably most unique was the fair interest rate(s) and the itemized payback options, allowing me to choose the best rate vs payback schedule. I even had a chance to log out, think about the rates, log back in, and complete later. Fantastic, straightforward experience!

5 days ago

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Reply from Best Egg

Thanks so much for sharing your experience with us! Thanks for sharing!

Apr. 16th, 2021

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John Badillo Wesley Chapel, FL

This was fast and easy to use. Great site!

5 days ago

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Reply from Best Egg

Fast and easy is what we like to hear! Thanks for sharing!

Apr. 16th, 2021

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Dan Griffith Kingman, AZ

fast and easy the process just took a few minutes

5 days ago

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Reply from Best Egg

Fast and easy is what we like to hear! Thanks for sharing!

Apr. 16th, 2021

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Jane Meece Cleveland, OH

Very helpful over the phone. Very polite .

5 days ago

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Reply from Best Egg

That is wonderful to hear! Thanks for sharing!

Apr. 16th, 2021

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Elaine Worlds Douglasville, GA

Great customer service. Loan process was painless and quick.

5 days ago

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Reply from Best Egg

Thanks for sharing!

Apr. 16th, 2021

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Matt OK

No discussion on interest rates. Falsely advertised by BurnsCaptial.

5 days ago

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Lenore Leslie West Hempstead, NY

Easy application process, quick delivery-I'm so happy to have much less to worry about !!

5 days ago

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Reply from Best Egg

If you're happy, then we're happy! Thanks for sharing!

Apr. 16th, 2021

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Ernesto Figueroa Rahway, NJ

As a previous customer the process was easy and straight forward all fees were available for review and the terms were as well

6 days ago

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Reply from Best Egg

We are glad to have you back! Thanks for sharing!

Apr. 16th, 2021

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JanetH Milwaukee, WI

I was surprised at the ease of this process. Joey was polite and very helpful in explaining my situation to me and what offers were available to me.

6 days ago

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Reply from Best Egg

We are pleased to hear we made it easy for you!

Apr. 16th, 2021

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Jeff Turkus Los Angeles, CA

This my 3rd loan with best egg. As usual the process was quick and easy. Love these guys

6 days ago

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Reply from Best Egg

We are glad to have you back! Thanks for sharing!

Apr. 16th, 2021

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Dixie Rome, GA

Best rate and super easy!!!! I didn’t realize getting a loan could be this fast!

6 days ago

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Reply from Best Egg

We are pleased to hear we made it easy for you!

Apr. 16th, 2021

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KG Dallas, TX

WOW!!! This is absolutely amazing and so easy. I am beyond happy as this was the easiest loan process I have ever been through. Fantastic, Thank you so much!!!!

6 days ago

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Reply from Best Egg

The pleasure is all ours :) Thanks for sharing!

Apr. 16th, 2021

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Michael Victorville, CA

Best Egg made the process of getting a loan easy and with the best rates.

6 days ago

Best Egg Logo

Reply from Best Egg

We are pleased to hear we made it easy for you!

Apr. 16th, 2021

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rodriguezant1996 Yakima, WA

It was very easy figuring out what loan was best for me and had no issues at all!

1 week ago

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Reply from Best Egg

We are pleased to hear we made it easy for you!

Apr. 16th, 2021

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