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Best Egg is an online lending platform focused on personal loans. It has been in operation since 2014. The company has helped fund over $7 billion in personal loans since its founding. 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 unexpected expenses.

With an exceptional consumer star-rating on BestCompany.com, Best Egg loan reviews indicate a quality company with exceptional service. At the bottom of the page you'll find Best Egg loan reviews from real customers. The reviews offer a comprehensive look at the pros and cons of borrowing money through this service through the lens of people like you - click here to go straight to Best Egg loan reviews.

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Highlight:

  • Loan amounts: $2,000-$35,000 (Offers up to $50,000 may be available for qualified customers who receive offer codes in the mail)
  • Time to funding: As quick as 1 business day after approval and verification
  • Origination: 0.99-5.99%
  • Average individual income: $87,000
  • Minimum credit qualification: 640
  • Loan repayment term: 36–60 months
  • APR Rate: 5.99%–29.99% (As of June 2020)

The Good

  • 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 Loan Pre-Qualification

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*), 5.99% to 29.99%, and long max loan lengths, three or 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% 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% 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 consolidation loans 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 lending platform, the loan application process is quick and easy, making it simple for consumers to apply and receive funds.

Many personal loan lenders have a longer application process. Some even require speaking to customers over the phone.

After submitting any documents for verification, 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 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 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 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.

Positive Best Egg Reviews

With personal loan companies, you want to ensure that you borrow from a trustworthy company that has positive consumer reviews. In the thousands, the majority of Best Egg loan reviews left on BestCompany.com from real consumers are overwhelmingly positive, highlighting a quick and straightforward loan application and process, satisfactory rates, and excellent customer service. Best Egg complaints are limited.

Here is a recent Best Egg review from a real customer:

"The loan application process is the easiest in the industry plus they don't charge unreasonable interest rates! I would highly recommend using Best Egg."

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

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. 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.

Nearly Nationwide Coverage

Best Egg offers its lending services to 47 states. Having nearly nationwide service creates more opportunities for consumers to work with Best Egg. Many personal loan companies have a much smaller coverage area, making it difficult for borrowers residing in non-covered states.

Fixed-Term Plans

Best Egg offers personal loans with fixed-term plans.

This means your personal loan repayment terms 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 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 surprises or unsuspected changes that come with a variable rate personal loan. Loan terms are flexible and can range from three to five years.

$50,000 Loans for Qualified Customers

Best Egg loans typically range from a minimum loan of $2,000 up to $35,000. However, for eligible customers, Best Egg offers loans up to $50,000 through a pre-approval letter in the mail.

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 loans offer 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 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.

The soft credit inquiry will only become a hard credit check if you choose to accept Best Egg's loan offer. This will then, as with any other loan (besides payday loans), be reported to the major credit bureaus, and can impact your credit score.

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The Bad

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

Strict Approval Requirements

Best Egg has strict loan approval and credit 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% APR, applicants should have at least a 700 minimum credit score and an annual individual income of at least $100,000.

However, even without excellent credit, any applicant with a FICO score over 640 is eligible to qualify for a loan from Best Egg. They just won't get the minimum rate.

It's important to note that many top personal loan companies have similar customer credit score requirements, typically excluding some customers with fair credit and all with truly bad credit.

Loan Origination Fees

Best Egg personal loans require an origination fee between 0.99% and 5.99% 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.*

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.

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.

Time in Business

Best Egg has only been in business since 2013. Although that isn't as long as some other lending companies, Best Egg has proven through consumer reviews and customer satisfaction that it is a top-notch quality service provider. Time in business may not prove to be a problem with customers because of this.

The Bottom Line

Best Egg's platform offers personal loans to borrowers with good credit and excellent credit. These loans are 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 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 is the consumer brand of Marlette Funding. As an indirect lender, it uses Cross River Bank as its loan provider, allowing for speedy approvals.

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 made once an application is submitted, but customers needn't 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.

However, approval isn't guaranteed, especially 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, because of the stringent application guidelines, if you qualify for a Best Egg loan, competitive rates are available.

Read Best Egg loan reviews below to see what consumers are saying about this online lending service or see a side by side comparison of Best Egg Reviews to other top personal loans companies.


*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. “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–$35,000. 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%–5.99% 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. 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.

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User Reviews

Star Rating

4.9
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7,925 Reviews

Review Breakdown

5 star
92%
4 star
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3 star
1%
2 star
0%
1 star
1%

Sentiment Criteria

Value for your money
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Customer service
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John Randolph

August 21st, 2017 Cabot, AR

The service Best Egg offers is timely, quick and very easy.

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david

August 21st, 2017 Tobyhanna, PA

This company is incredible.. it was SUCH and easy process and EVERY one knew their job..its refreshing to deal with a bunch of people who start out great and stay that way from beginning to end..the whole process was a snap and we got our money in no time. Thanks best egg.. youre a life saver

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Tony Valenti

August 21st, 2017 MO

Easy application and straight forward amounts and rates- no guessing

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Villana S.

August 21st, 2017

I give 5 star to your company because you are really a God sent you help those people like me who is struggling to pay credit.

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Jorge Alejandro Fernandez

August 20th, 2017

The speed of the service was extraordinary, especially for the trust placed in me, that is very important. I definitely recommend it to my friends.

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Roger Becker

August 20th, 2017

Super job in the completion of my loan application. Everything was easy to apply for and the results were fantastic.

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Johnnie Plummer

August 20th, 2017 Washington, DC

Completely satisfied with your services!

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Virginia

August 20th, 2017

I'm so glad that I chose best egg for they were extremely amazing. The process were so fast and the customer service were great. Thank you best egg!

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E. Ortega

August 20th, 2017

Great, fast service! Would totally recommend to anyone. Thanks Best Egg ?

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Don Morris

August 20th, 2017 Rector, AR

the process was easy and delivery was fast. I am well pleased. I have two best egg accounts and would like to combine them if I could.

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SHIRLEY TOMS

August 20th, 2017

I responded to a preapproved offer I received in the mail. I applied online for the amount I needed for my home improvement projects. I telephoned customer service twice to ask questions about the loan process, interest rates for me, and loan amount comparisons. My loan was approved and I was sent an email to confirm the approval. Customer service was great. People were knowledgeable, patient, and easy to understand. They were not pushy and sound as if they enjoy their job. I did not have to upload a lot of documentation and my loan amount was deposited in my account in a couple of days! How cool is that?

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Nicholas Medrano

August 20th, 2017

Super easy and very quick process to get approved!

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Deziree Rubio

August 20th, 2017

I was skeptical at first but they really made it so easy and fast. I was beyond happy to find I was approved just after less than 24hrs. And my money was in my account in less than 2 days after that. I am very happy with best egg.

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Melissa

August 20th, 2017 Mattoon, IL

Wonderful company to work with. Thankful to be able to pay off high interest cards with my low rate loan.

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G.P.

August 20th, 2017 Wayne, NJ

Wow I cant believe how easy it was and also fast. I got an invitation in the mail, logged on to check my rate, and i accepted the term i wanted and I was approved for $10,000 within a few minutes. Thank you best egg.

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Justin Malek

August 19th, 2017

Best egg. How awesome is it when you work your butt off and a company sees value in that and actually helps you with good terms and live customer service. Good job Best egg

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Hector Gomez

August 19th, 2017

Best eggs help me so much with pool deck remodeling, and with credit cards consolidation, thank you so much!

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Sidney Boone

August 19th, 2017

The speed that my application was processed was a big surprise. The application was very simple and customer service was very professional in advising me of the documentation I needed to provide.

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Kathy Dennehy

August 19th, 2017

The process was very easy and fast. I had the loan funded within a few days and everything was done online. They were great to work with!

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Terry

August 19th, 2017 Seminole, FL

I had an extremely positive experience with Best Egg. It was quick and easy and I was able to pay off all of my credit cards, save on interest and take a vacation!

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Deneen

August 19th, 2017 Nottingham, MD

Excellent customer service! The process was quick and easy. Thank you.

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MITCHELL HALLBROOK

August 19th, 2017

Was skeptical when I received an advertisement in the mail about Bestegg as well as being able to receive a loan quickly. However, after filing out the application and having been approved I called and spoke with a customer service representative who reassured me that all was legitimate.

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Dania

August 19th, 2017

The process was simple fast and convenient. I am very happy to be able to pay my high interest credit card debt with this easy to pay loan

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Stephen Kline

August 19th, 2017 Omaha, NE

Fast, convenient and simple. Nice in a complicated world.

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Rekha Akter

August 19th, 2017

No hassle. No long documentation. Quick Process. Extremely good experience. Love Forever...

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Martha Banos

August 19th, 2017

The application process is very fast and the terms of the loan are fair

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RICKIE LAWSON

August 18th, 2017

great sensible rates timely service unquestionable service recommend them to all my friends

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Carlos Cevallos

August 18th, 2017

Advertising. Delivering guarantee. Customers

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Randy

August 18th, 2017 Washington, DC

My experience with Best Egg was the best. Quick, easy and professional. My funds will be available in 1-3 business days.

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Jason Alfaro

August 18th, 2017

Awesome service in getting my loan approved!

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Gladys Mayes

August 18th, 2017

Very good customer service and smooth process

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Tiesha M Paylor

August 18th, 2017

Quick & easy. excellent service . Customer service was awesome

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TIMOTHY KOVERCHICK

August 18th, 2017 Haddonfield, NJ

I just wanted to take this time to say thank you to all the great representatives who work at Best Egg who helped me through my loan process. I was so happy when I applied and was quickly approved for my loan. Every one was extremely helpful and to all involved I want to send you a heart felt thank you. It was a pleasure to be helped by all of you . Thanks again

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Kathie Underwood

August 18th, 2017 Jasper, FL

My experience with Best Egg was very positive. The application process was simple; the approval process was quick; the funds were deposited in my account quickly. I would recommend this company to anyone in need of a loan.

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Lynda D Young

August 18th, 2017

Quick and easy, I was not approved for the entire amount I wanted, however paying off the items I intend to pay off frees up cash to pay off my other bills. Good deal.

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Karen Ann Rivers

August 18th, 2017

Awesome Service Rec'd today & easy process for loan acceptance along with excess to funds in a timely fashion. I'm too exceited because, now I can consolidate all my credit balances into 1 easy monthly payment. Thank U Much

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Ron

August 18th, 2017 Ridgewood, NY

Very easy to fill out the application and fast response. Really appreciate their service and fast review of docs needed.

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Mary K

August 18th, 2017

It was very quick & easy, I applied on a Wednesday & the money was in my account on Saturday

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Andy

August 18th, 2017

Easy to do. Responded quickly. Best offer I had after shopping around.

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MELANIE LUSK

August 17th, 2017 Dallas, TX

Friendly, fast, reliable. Great to receive offer by mail, researched on internet and definitely grateful I did.

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Steven jones

August 17th, 2017 Las Vegas, NV

Great customer service experience, easy process

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Tammy

August 17th, 2017

Very fast and easy, I was pleasantly surprised.

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hiyam alzer

August 17th, 2017 Annandale, VA

the fastest ever , great service ,honest

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Louis

August 17th, 2017

This was a fast and easy process, Thank you.

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andreas fotiou

August 17th, 2017 Fort Myers, FL

very professional all the way .patient and courteous and always there to help and assist thank you

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Cesar

August 17th, 2017

You guys rock, thank you so much for such an easy process and transaction.

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Stephen M.

August 17th, 2017 Mount Horeb, WI

The loan process was incredibly easy and the rate offered really allowed us to get rid of higher credit card rates!

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Jessica

August 17th, 2017

Amazingly fast approval! Hassle free service. I was able to upload the requested documents and literally received an approval within minutes! Awesome feeling!

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Erin

August 17th, 2017 Butler, PA

Amazed how fast and easy to set up! I'm consolidating much higher rate credit cards into one payment I can pay off fast! I tried Lending Tree first and the interest rates were sky high. Very pleased with the whole process!

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Kelly

August 17th, 2017 Ronkonkoma, NY

Fast and easy!! Great customer service and quicker than most calls to any card service