error This company may not service all states.

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.

search

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.

Visit Site

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.

Why Can I Trust Bestcompany.com arrow_drop_down

bestcompany guarantee

Best Company guarantees your satisfaction if you choose a company that has earned this distinction. If you're not satisfied after 30 days, simply let us know and we'll give you $100. Yes, it’s really that simple.

Learn More

User Reviews

Star Rating

4.9
starstarstarstarstar_half

7,925 Reviews

Review Breakdown

5 star
92%
4 star
7%
3 star
1%
2 star
0%
1 star
1%

Sentiment Criteria

Value for your money
starstarstarstarstar_half
Quality of product or service
starstarstarstarstar_half
Customer service
starstarstarstarstar_half
Company trustworthiness
starstarstarstarstar_half
search cancel
starstarstarstarstar_border

Jan

August 16th, 2017 Sharon, PA

Always quick and easy to apply and get approved. I really appreciate the electronic process. Thanks!

starstarstarstarstar

Michael G. Boggess

August 16th, 2017 Bourbonnais, IL

everyone that i was in contact with was very professional and helpful

starstarstarstarstar

Mark Lundquist

August 16th, 2017

Very easy to get started the loan process was great Easy to work with.

starstarstarstarstar

Angela Wood

August 16th, 2017

Extremely fast and easy service. Personal was very helpful and polite.

starstarstarstarstar

Julie E

August 16th, 2017 Pearland, TX

So far, I am pleased. With the many options that Best Egg offers, I was able to find a debt consolidation for my high interest credit cards for about the monthly payment of one of the cards that I was able to pay off.

starstarstarstarstar

Jessy Hamel

August 16th, 2017 Denver, PA

So fast and easy. Peace of mind was right around the corner.

starstarstarstarstar

John Demarco

August 16th, 2017 Conneaut Lake, PA

Quick and easy. I started my loan process on Sunday and was approved on Tuesday. I would recommend this company to anybody. This will really help me pay off my high interest credit card debt that would of taken years to get paid off.

starstarstarstarstar

Trish

August 15th, 2017 Mendham, NJ

Very easy and reasonable with way less hassle than the bank. Higher percentage and origination is not inexpensive but compared to paying the CC every month- this is a way better solution.

starstarstarstarstar

David Kling

August 15th, 2017

Between our kid's weddings, college and just life we had accumulated too much debt. Best Egg consolidated it, lowered our monthly payment and interest rate and put us on a path to financial recovery. Absolute rock stars, they are the BEST! David Kling

starstarstarstarstar

Dwight Sutherly

August 15th, 2017

Impressed with the simplicity of this loan,

starstarstarstarstar

Kenny

August 15th, 2017 Chandler, AZ

Wow! Quick and Easy, no hassle; even my payments will easy -automatically taken out of my bank account.

starstarstarstarstar

Cheri Colquitt

August 15th, 2017 Fayetteville, AR

Excellent process! Very smooth and hassle free.

starstarstarstarstar

Efrain Tirado

August 15th, 2017 Hamburg, NY

My experience with Best Egg was surprisingly great. I thought the process was going to be long and complicated, but instead it was very easy and quick. Their website was easy to use and their loan application and terms were very clear. I got the funds in my account within 4 days. I am extremely happy with Best Egg! Would definitely recommend it to my friends and family.

starstarstarstarstar_border

Carol

August 15th, 2017

With the exception of my application getting stuck in system everything was awesome

starstarstarstarstar

JAMES TAYLOR

August 15th, 2017

Customer service was quick, to the point and very curtious.

starstarstarstarstar_border

FRED ENINGOWUK

August 15th, 2017

I was thoroughly impressed with the professionalism and level of knowledge during the loan review process, verification of financial institution information and the assurance I felt during this loan review and approval process. Bravo and Thank You

starstarstarstarstar

Robin Tull

August 15th, 2017 Hurlock, MD

This has been super easy! Thank you so much!

starstarstarstarstar

JOHN

August 15th, 2017 Collingswood, NJ

Great company! Very easy and fast process!

starstarstarstarstar

Eddie

August 15th, 2017

Was just approved. After making 3 calls to customer service, all of our questions were answered quickly and to the utmost satisfaction! After receiving our funds, I will add further reviews. Thus far, excellent service.

starstarstarstarstar

Tim galbraith

August 15th, 2017 Reno, NV

Very easy application process. Fast approval. A total 10!

starstarstarstarstar

Dan Sheridan

August 15th, 2017 Macon, GA

This was my 2nd loan from Best Egg. I didn't think it could be any easier than the first time but I think it was! I just don't know how they do it but I'm glad they do. They certainly have the loan application process down to a science. And their interest rates are better than even the best credit card rate I've ever had.

starstarstarstarstar

Bobby Curreri

August 15th, 2017

Wonderful and convenient! I was impressed with how quickly I received my loan. The people at Best Egg were extremely helpful. I would recommend Best Egg over and over again.

starstarstarstarstar

Collin Boles

August 15th, 2017 Redding, CA

Wow this has to be the easy credit application. Took me less than five minutes and in two days the fund were in my account. Thank you.

starstarstarstarstar

Christopher Smith

August 15th, 2017

I was impressed with the prequalified letter. Then getting more options for the loan after requesting a non score impacting amount. Very easy application and transfer of the needed funds

starstarstarstarstar_border

tim tison

August 14th, 2017 Batesville, AR

good overall - easy format - in between pending and approval may need to note updates

starstarstarstarstar

Andrew Kellogg

August 14th, 2017 Woodstock, IL

Just a really quick and straight forward process. this is the way things should work in today's world.

starstarstarstarstar_border

David Greenwood

August 14th, 2017 Bossier City, LA

Exceptional service , answering questions, and providing factual information.

starstarstarstarstar

Mario Renteria Jr

August 14th, 2017 AL

Best egg , really gave me the best experience of any loan I have ever obtained. Very fast and efficient. I am now on my way out of credit card debt and saving a ton of money!! Thank you Best Egg you are life changing!!!!

starstarstarstarstar

Mary Yeager

August 14th, 2017 Cambridge, MD

Awesome experience - I was considering consolidating debt into 1 payment with a fixed term and payment amount. The message on the envelope was clear this could possibly be a solution for me. I logged in and reviewed the offer, after looking everything over I decided this was in fact the solution for me. The process was easy, the next morning I had my approval email. I'm looking forward to having more money to save each pay to work toward a future goal of mine!

starstarstarstarstar

Kathy

August 14th, 2017

Quick and easy process. They give a person the opportunity to improve their financial situation and improve their credit.

starstarstarstarstar

cindy mayle

August 14th, 2017 Nashville, TN

I had a great experience using Best Egg and I will definitely recommend them highly. It's so easy and they help you right through all the steps. Poof there's your loan, deposited straight to your checking account

starstarstarstarstar

WILLIAM LAYFIELD

August 14th, 2017

Without a doubt the easiest loan ever applied for. Money is funded within days of approval. Would recommend to anyone!

starstarstarstarstar

Larry Crowdis

August 14th, 2017

Very easy and fast loan process and reasonable rates

starstarstarstarstar

Jason

August 13th, 2017

The whole process was straight forward with no surprises and super easy online.

starstarstarstarstar_border

Jan

August 13th, 2017

I couldn't believe how easy it was for me to obtain my loan. I had a customer service representative walk me through the entire process on line. The representative was professional and courteous. I couldn't believe how quickly the load was processed and funds available in my account. Thank you Best Egg!

starstarstarstarstar

Deanna

August 13th, 2017 Nashville, TN

The process with best egg was easy and fast. The fee was reasoable unlike lending tree and the loan options were great.

starstarstarstarstar

Rodolfo B. Alcantara

August 13th, 2017

Best Egg is one of the best Loan Company, once you filled up your application you will be amaze how quickly you will get the approval and your money will be send to your bank in no time. I will definitely recommend your company to all my relatives and friends. Job Well Done.

starstarstarstarstar

David Vanderhoof

August 13th, 2017

So fast, options are excellent. Lets you pick the amount best suited for your needs

starstarstarstarstar

Michael

August 13th, 2017 Lemont, IL

It was very easy to apply and the CS rep was very helpful

starstarstarstarstar

JOE ZOLOTOFF

August 12th, 2017

faster than I thought, no hassle,LIKE IT.

starstarstarstarstar

David

August 12th, 2017 Fredonia, WI

Excellent and easy application process, quick approval and proceeds deposited in our checking account within 2 days of applying

starstarstarstarstar

Gina

August 12th, 2017

The personal loan process was straightforward and easy to understand. The amount of time from application to approval took about 5 minutes! I am expected to have the funds available within 1-3 business days. I highly recommend this service!

starstarstarstarstar

Rob Pruette

August 12th, 2017

Easy process. Low interest. Great terms.

starstarstarstarstar

Robert Bauer

August 12th, 2017

Great customer service. Staff were easy to reach by phone and very professional!

starstarstarstarstar

Lourdes Valencia

August 12th, 2017 El Sobrante, CA

The process to getting the loan was so smooth and easy and the service Reps were awesome.

starstarstarstarstar_border

Tom Repinski

August 12th, 2017

This company is very quick and efficient. I had a light problem with the website. They called me on the phone to see if they could help. Loan was approved very quickly.

starstarstarstarstar

Shelia T Rogers

August 12th, 2017 Stone Mountain, GA

Best Egg delivered on their promise. The loan process was simple and fast. The customer service was fantastic.

starstarstarstarstar_border

Steve

August 11th, 2017 Cleveland, TX

This loan was simple and fast. I would recommend their service.

starstarstarstarstar

Julie Laaouina

August 11th, 2017

Friendly and courteous staff. Timely service.

starstarstarstarstar

Sharon Frazzini

August 11th, 2017

Very easy to do and very courteous people to work with and a great interest rate!