Best Egg is a personal loans lender and has been in operation since 2014. It has funded over $6 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.
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.
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.
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 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.
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.*
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Great job , response rate was quick. Thought the process would be more involved.
My loan request was handled very professionally. It was quick and easy.
The process was quick and simple. I would definitely recommend this type of loan for anyone who wants to consolidate their debt.
Easy and a very well functioning internet experience.
Love BESTEGG because it only takes minutes to get approved.
I was very pleased with the service I received. The staff was knowledgeable, courteous, and eager to answer any questions or assist as needed.
Thank you Best Egg. You all offer the best experience I've ever had. I'm sincerely grateful this loan was exactly what I needed. You solved my situation so fast. Thank you again
The process was fast and straightforward, the only con that I have is that they do not inform you that there is an origination fee ( fee on top of the interest that you will be paying which is non refundable even paying off the loan early. If you need x amount off dollars you must Hal for more because the pull the origination fee from the amount you have asked for. They do give you different loan options but the don’t tell you about the fee before hand.
Reply from Best Egg
[email protected]Oct 16, 2018
We're so sorry to hear you feel this way. We apologize for any inconvenience or frustration this may have caused. Please be assured that it is outlined in a customer's Truth In Lending Disclosure statement that is presented before accepting a loan, that one may be charged an Origination Fee. We value your feedback and will use it to improve. If you have any other concerns, please feel free to give us a call at 855-282-6353. Thank you.
So easy and helpful. I never knew it could be so easy. Payments are very affordable.
Best Egg has come through for us for the second time. The application process was easy and quick. Thank you, Best Egg!!!
Fast n easy online application process was a breeze. Loved the document upload feature!
It was a real easy process so far, you site was set up very well, it was really easy to navigate through.
Best Egg is easy to apply for and helps you set a game plan for getting out of debt without struggling.
Easy loan process and good rates. It is my first loan with Best Egg.
I was hesitant to apply for a loan but this process was quick and very easy. I had an answer within a few minutes!! Definitely would recommend Best Egg for anyone considering a loan!!
The quick processing was amazing and it definitely came through when I needed it the most.
I have an amazing new job and just needed to consolidate my debt until I get my first paycheck. THANK YOU Best Egg... had tears in my eyes that you helped me in my transition. So appreciative and will spread the word!
The experience was fast and easy. Had all of my questions answered online without confusion.
I was very empresses with online service
I can't believe easy this application process was. I did this on my phone in less than 15 minutes and got approved.
Quick and simple with no Hassle. This loan going to be a big help to get out of tough jam.
A LADY NAMED MS.JUDY HELPED ME IN SUCH A PLEASANT WAY I FELT GREAT.SHE TAUGHT ME HOW TO PROCESS THIS LOAN ON MY COMPUTER. I GIVE HER THE THUMBS UP .THANK YOU VERY MUCH ..MS.JUDY...
Just so fast and efficient! Love it! The ease of the process has been great and just the process itself is easy
Easy, fast, affordable, and even received a courtesy call to answer any questions
Several years ago, I had a personal loan with Best Egg to help with the purchase of my house. The loan was easy to apply for, everything occurred as they stated. I occasionally needed help with their website since I didn't go there very much, but all in all, it was a great experience. Because of that, I just applied for a new one, and so far, the process has been just as smooth. I especially liked the fact that I was able to check rates BEFORE impacting my credit.
This is my second loan with them and I find them to be fair, reliable and quick
Great fast service, I would certainly recommend to a friend or family member.
This is the first time that I'm glad I kept what I thought was just "junk" mail. I hate to admit my financial health needed improved. I didn't want to live pay to pay and constantly "just" paying the minimum on my bills and not getting anywhere for it. After some due diligence I'm glad I chose this company for the positive reviews I read, application process, ease of applying, quick decision for my needs and budget but mostly I didn't feel I was being taken advantage of from the beginning Thanks to Best Egg I'm on the road to better financial health.
Fast and painless application process. I've honestly never experienced any loan application process as smooth as this was. Highly recommend
It was so easy to apply and best egg rates are very competitive with other lenders
Good rates with decent loan amounts. A pleasure to do business with in a quick amount of time.
This process couldn't have been easier or quicker! As I was nearing my mid 60's I wanted to lower my interest on the small amount of debt I had so I could pay it off sooner. Best Egg made the process painless and I was approved in less than 24 hours! Thanks Best Egg!
quick, efficient and seamless process!!! So far I am impressed
Transaction was easy, but the interest rate was higher than expected and the origination fee was too much I thought, but overall it was an easy process.
Very fast and easy loan application but I was most surprised that the Interest Rates were very competitive with similar lenders that required more docs. etc
I was not aware of the $800 origination fee. This is such a steep amount and it may have been in the fine print. But not well visible. Very dissatisfied.
Reply from Best Egg
[email protected]Oct 15, 2018
We are sorry to hear that you are dissatisfied. Please be assured that it is outlined in a customer's Truth In Lending Disclosure statement that they are presented before accepting a loan, that one may be charged an Origination Fee. If you have any questions or concerns, please feel free to give us a call at 855-282-6353.
The process was very simple and prompt. Best Egg was recommended from a friend and they were right on point. I will certainly do this again.
Very fast, streamlined online process with fair rates. I will use Best Egg in the future Don
Easy application,no nonsense, right to the point, thank you 🙏
The application process was extremely easy and fast! Approved in a matter of minutes. I compared multiple lenders before selecting Best Egg and found that Best Egg offered the lowest interest rate and best terms for what I was looking for to consolidate my debt. Great experience so far!