Best Egg

• Great for High-Interest Debt Consolidation
• Instant Decision Process
• Clear, Transparent Platform
• Positive Best Egg Reviews
• No Prepayment Fees or Penalties
• Due Date Changes for Eligible Borrowers
• Nearly Nationwide Coverage
• Fixed-Term Plans 
• $50,000 Loans for Qualified Customers
• Simple Interest Loans
• No Credit Impact for Checking Rates

Great for High-Interest Debt Consolidation

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.

Instant Decision Process

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.

Clear, Transparent Platform

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 is transparent when it comes to sharing information with customers and provides clients with loan terms, including the 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 to limit 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 & 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.

Positive Best Egg Reviews

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. 

No Prepayment Fees or Penalties

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 could save in interest fees if you pay off your loan early.   

Due Date Changes for Eligible Borrowers

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

Nearly Nationwide Coverage

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. 

Fixed-Term Plans

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. 

$50,000 Loans for Qualified Customers

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."

Simple Interest Loans

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.

No Credit Impact for Checking Rates

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. 

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• Strict Approval Requirements
• Origination Fee
• No Joint Loans Available
• Time in Business

Strict Approval Requirements

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.

Origination Fee

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."

No Joint Loans Available

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. 

Time in Business

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. 

Best Egg is the consumer brand of Marlette Funding. It is a great loan service provider that offers borrowers personal loans for a variety of purposes, including consolidation loans, credit card refinancing, and home improvement. These are encompassed in a quick approval process and a transparent platform.

Best Egg is unlike other online lending platforms that have to wait for investors to fund your loan. The company has investors who are ready to say "yes," to qualified applicants, which allows Best Egg to transfer funds electronically to a bank account in as little as one business day.

Best Egg loans are unsecured loans with a fixed monthly payment for the life of the loan. The online loan application process takes a few minutes to complete. Customers don't have to worry about checking rates impacting their credit score. There is also no prepayment penalty fee. However, approval may be difficult for some individuals to receive if you have a credit score below 640. Best Egg is quite selective with whom it will approve and takes into consideration debt-to-income ratio, credit history, income, and more. However, this means if you qualify for a Best Egg loan, competitive rates are available. Read Best Egg personal loan reviews below to see what consumers are saying about the online lender. 

*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% that is deducted from loan proceeds. Any origination fee on a loan term 4-years or longer will be at least 4.99%.  The loan term and the APR offered will depend on your credit score, income, debt payment obligations, loan amount, credit usage history and other factors. Additionally, the APR offered is impacted by your loan term and may be higher than our lowest advertised rate. Requests for the highest loan amount may result in 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 four 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. 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, we will ask for your name, address, date of birth, and other information that will allow us to identify you.