Best Egg

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9.0

Overall Score

Best Egg

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Best Egg offers APRs ranging from 5.99 to 29.99 percent

Best Egg has been offering personal loans since 2014. Since then, it has funded over $5 billion in loans. Most Best Egg personal loans are used to consolidate high-interest 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. 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 300,000 customers. 

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, primarily due to 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 provide a manageable payback process that is typically much more effective than other credit alternatives.

24-Hour Approval Process

With Best Egg's application process, loans can be approved on the same day the application was completed. In fact, the pre-approval process usually only takes a few minutes. Once the potential customer has submitted all of the required verifications, the loan will be approved within 24 hours. Funds are typically dispersed into the borrower's bank account the business day after they have been approved. However, 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 the 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 charged for each transfer. However, Best Egg is transparent when it comes to sharing information with customers and provides clients 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.

 

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The Bad

  • 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 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 applicant with a credit score over 640 is eligible to qualify for a loan from Best Egg, but at a higher rate.

Origination Fee

Best Egg charges an origination fee between 0.99 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.**

 

                                                                                                                                                                                                         

The Bottom Line

Best Egg is a great personal loan company that offers loans for a variety of purposes, a quick approval process, and a transparent platform; 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.

*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%. Any origination fee on a 5-year loan will be at least 4.99% and is deducted from loan proceeds. 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 resulting 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. A loan example: a 5–year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3–year $5,000 loan with 5.99% APR has 36 scheduled monthly payments of $150.57. 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.

 

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User Reviews

4.9

3456 Reviews

Your trust is our top priority, so we check all reviews for accuracy and relevance. Additionally, we do not allow companies to alter or remove reviews. Learn more

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Stacy Howard
August 21st, 2018 Tracy, CA

Very Easy to deal with, loan took no time

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Jack Harrison
August 21st, 2018 Russiaville, IN

This was a very easy experience. your professional sales person answered all question that I could think of asking at the time and Best Egg make this loan easy and quick. thank you very much and looking forward to doing business with your company.

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Mike
August 21st, 2018 Crystal Lake, IL

Very simple to get the loan! I hope the service is just as great!

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Tracy Shivers
August 20th, 2018 Pearland, TX DETAILS
Value for your money
Quality of product or service
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Professional accurate and excellent customer service one of the best I’ve ever experienced

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Jason
August 20th, 2018 Burlington, NC DETAILS
Value for your money
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My experience with Best Egg was the best decision I have made. Very easy to get a response and approval. Looking forward to being stress free after all. Great experience.

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Jennifer Bacani
August 20th, 2018 Lake Forest, CA DETAILS
Value for your money
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Excellent experience! Swift and speedy. This is the second loan I’ve taken with this company and I would recommend. The process was amazingly fast and best of it all, I compared the rates and found the best rate from Best Egg. They called to follow up with me and I asked questions and got great service was pleased that there’s no prepayment penalty. I’ve already completed the application and expecting the funds to process within next 1-3 days. That’s fast!

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JOSEPH F. TUFANO
August 20th, 2018 Prescott Valley, AZ

Was skeptical at first but l applied to the letter and went thru with the initial paperwork. Everything went very smoothly , I received phone calls from your company to guide me thru t by e process. I am so pleased and happy how things went and the help l got from your personnel. Thank You again, l definitely will recommend Best Egg to all my family and friends. Joseph Tufano

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Marvin Reyes
August 20th, 2018 Douglasville, GA DETAILS
Value for your money
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Ver fast at service to customers. This is my second time applying for a lone and am very satisfied.

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Steven McKeel
August 20th, 2018 Tonawanda, NY DETAILS
Value for your money
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fast and easy with absolutely no hassles or hidden costs.

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Elaine Beltran Villegas
August 20th, 2018 Spring, TX DETAILS
Value for your money
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Representative very helpful. Process was smooth and easy. No recommendations for improvements.

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rebecca Gonzales
August 20th, 2018 Riverside, CA

fast and informative and the person helping me took the time for me to understand

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Renae
August 20th, 2018 Elko, MN

Wow! Great rate with a super simple process. I am on my way to being debt free in 3 years! Thanks, Best Egg.

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Oleksiy Dukhevych
August 20th, 2018 Norfolk, VA DETAILS
Value for your money
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Expedient processing, no unnecessary redtape

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Jill
August 20th, 2018 O'Fallon, MO DETAILS
Value for your money
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Customer service
Company trustworthiness

Ease of application and clear explanation

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Haidyn Houtz
August 20th, 2018 South Jordan, UT

I do not recommend best day! The interest rates on them are not very good because they are so high!

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David Smith
August 20th, 2018 Fairhope, AL

Very quick,professional and easy to complete.

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Becky Rasmussen
August 20th, 2018 American Fork, UT

Fantastic deals on random products that are generally high quality items. The only challenge is the good deals go fast so you have to be quick! Totally reputable.

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Joshua Jones
August 20th, 2018 Grand Rapids, MI

Awesome! This was so fast and simple, thank you for all your help!

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Diane
August 20th, 2018 Homewood, IL DETAILS
Value for your money
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I have used Best Egg before and it is easy simple and

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Barbara Valdez
August 20th, 2018 Longwood, FL DETAILS
Value for your money
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Company trustworthiness

This is my second loan with Best Egg. They make it so easy! I truly appreciate it.

Best Egg Logo

Reply from Best Egg

Best EggJan 04, 2018

We appreciate you, Barbara! Thank you for sharing your feedback with us!

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Jonathan Izumi
August 20th, 2018 Honolulu, HI DETAILS
Value for your money
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Company trustworthiness

Friendly, empathetic, patient! Great customer service!

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Anita Trafford
August 20th, 2018 Ambler, PA

The process was easy. Both employees I dealt with were professional, but also personable. So far, I feel very good working with Best Egg

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Rodney McInnis
August 17th, 2018 Pensacola, FL

Was surprised at the ease the loan was made available. Everything was disclosed upfront with no hidden fees or charges added later. I would recommend Best Egg to all who are looking for a fast, and convenient loan for their debts.

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J Ortega
August 17th, 2018 Alsip, IL DETAILS
Value for your money
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It was very efficient n fast I can recommend it

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Christel magnuson
August 17th, 2018 Suquamish, WA

Made it so easy to get a loan to consolidate debt

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Jeffrey M Rhodes
August 17th, 2018 Elmira, NY

Excellent Smooth Application Proscess Thanks

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Martin Towery
August 17th, 2018 Southaven, MS DETAILS
Value for your money
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Company trustworthiness

Thank you Best Egg for providing me the funds I needed to consolidate my debt into one small monthly payment. It was a very fast and easy process to get the funds I needed. Best Egg showed me the terms of my loan upfront with no hidden fees or small print. Thank you Best Egg.

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Frank
August 16th, 2018 Chicago, IL

I called and asked multiple questions I needed and got them answered quick and very courteous. Out of 3 lending companies. Best egg had best rate and customer service

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Bonell Rankins
August 16th, 2018 Hammond, IN

The whole process was very professional.

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Roberta Galvan
August 16th, 2018 Simi Valley, CA DETAILS
Value for your money
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Company trustworthiness

Fast and easy! Have financial control and much relief!

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LK
August 16th, 2018 Minneapolis, MN

Clear about business partner expectations.

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Sylvia
August 16th, 2018 Easley, SC

The loan application process was so fast & I would recommend Best Egg to anyone who needs a loan . The customer service is great as well.

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iris a
August 16th, 2018 Pacoima, CA

It was so easy as 123 and very helpful .

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Daniel Gulotta
August 16th, 2018 Burlington, WI

The process was simple and the interest rate is much lower than my credit cards which should save me quite a bit of money over the course of the loan.

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Steve
August 16th, 2018 Pittsburgh, PA

User friendly. Simple steps. Very clear with details. Very satisfied. Will due business in the future as well. Orientation fee is same percentage as credit cards. APR depends on your credit and length of loan. Will not be disappointed.....

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Kellie Hendrix
August 16th, 2018

The overall process was quick I did have an issue with the current bank that I have because my bank was not listed as one of the choices so I had to do a little bit extra verification but overall on satisfied

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Phyllis price
August 16th, 2018 Wynantskill, NY DETAILS
Value for your money
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Company trustworthiness

Proficient . Sometimes the website doesn’t allow me to sign off after reviewing account information. That’s my biggest issue.

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Christine Drinkwine
August 15th, 2018 Traverse City, MI

Love the ease of applying and no early pre- pay penalties makes me comfortable using this service

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NDARK
August 15th, 2018 DeWitt, MI

I was apprehensive at first but the process was as easy as can be. This is my second experience with Best Egg and they have been great.

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Willard Hare
August 15th, 2018 Ocala, FL

BEST EXPERIENCE I EVER HAD IN OBTAINING A LOAN.

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