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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

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4 star
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3 star
1%
2 star
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1 star
1%

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Value for your money
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Paul

August 11th, 2017 Asbury Park, NJ

One of the easiest loan applications I have ever done. Approved about an hour after submitting application. Can't ask for more! Thanks Best Egg

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John

August 11th, 2017 Jackson, MS

Great experience, very easy application and verification process. The entire process was completed on just a few days. Highly recommend !

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JAIME MENDEZ

August 11th, 2017

The process is easy. They had the best rate compared to all the others I researched. Thank you.

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Rohrer

August 11th, 2017 Tuscaloosa, AL

Easy application fast approval. Good customer service. Highly recommend. I'll be debt free in 36 months thanks to Best Egg.

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Felix Calso

August 10th, 2017 Kea‘au, HI

It's so easy to apply. The best company ever. I've been applying for a loan but got denied all the time. Best Egg helped me financially. I will surely recommend this to my friends and relative. I love you Best Egg!

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Jean s. Jean

August 10th, 2017 Hicksville, NY

these people are life saver, they worked fast to get you the money you needed.

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Eric Edwards

August 10th, 2017

The loan was fast and easy and I had the money within 48 Hours.

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Richard Kuchynskas

August 10th, 2017

Very nice loan procedure, simple and quick

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Sherry McKenzie

August 10th, 2017

I am astounded with the ease of this transaction. It has definitely been a great experience.

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Joseph narh

August 10th, 2017

The process was quick and stress free. You people are wonderful

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Mark J Affronti

August 10th, 2017 Rochester, NY

I called initially with a lot of questions. The lady I spoke with was extremely patient and knowledgeable. She stayed on the phone while I fumbled around on the website was she answered every question I had. The second time I called, the gentleman I spoke with was also the same way. Great focus on 100% customer service.

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J. Thornton

August 10th, 2017 Pasadena, MD

Best Egg provided great customer service, and quick processing.

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william jackson

August 10th, 2017 Keene, NH

I have been a prosper member for 2 plus years and never missed a payment. my original loan was for 13% interest now they want 33% I will never do business with them again

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Patty

August 10th, 2017

Very pleased with the way they work, simple, easy and fast it only took a couple of days for my application to be approved, thank you Best egg

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Gina

August 10th, 2017

I received application in the mail. It was a Fast Easy process

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keisha wallace

August 10th, 2017

I received a pre-qualification in the mail and decided to persue the offer. I don't like the idea of automatic payments and I am hoping I am able to adjust that moving forward. but the application process was very easy. I will be able to give a better review once I start dealing with the company and making payments. Hopefully this will be a good relationship

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Ruth Ann Crews

August 10th, 2017 Pacoima, CA

Easy and fast to get a loan. People are nice and answer every question I ask. Will tell everyone I know about my service with bestegg.

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WADE SLETTEN

August 9th, 2017 Eatonville, WA

Nice and easy to apply for the loan over The phone. Very helpful in getting me a Loan that works for me. If you need a Loan Just call best egg*****

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Jamie M

August 9th, 2017

Completely easy!!! 110% as advertised! I would use again in a heartbeat.

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Douglas M Schultz

August 9th, 2017

Fast and easy! Process was simple on my mobile phone!

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PAUL HICKS

August 9th, 2017

The loan I took out will help me pay off the old credit cards and it will help me with my credit score and again I like to thank you

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robin embrey

August 9th, 2017 Edison, NJ

the easiest loan i ever applied for and was approved so quickly!!!

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Rhonda

August 9th, 2017 Chicago, IL

I would highly recommend Best Egg to everyone looking for a personal loan. The process was fast and convenient. I spoke with a customer service agent who was extremely helpful.

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Sherry Haddad

August 9th, 2017 Avondale, AZ

Great Service, Quick response! Easy processing!

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Chris

August 9th, 2017 Salem, OR

We priced several companies for a debt consolidation loan, and Best Egg had by far the lowest fees and interest rate! We had the money within 48 hours, it was quick and easy

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Elise

August 9th, 2017

Great service - very easy process! Rare that the process is as advertised. Thank you!

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Christina Lockerman

August 9th, 2017 Phoenix, AZ

Best Egg was easy to apply for a loan and getting approved. The money was also placed directly in my account.

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Steve

August 8th, 2017

Customer service is very knowledgeable and willing to help where needed. The loan amount was in my account when I was told it would be. I have never worked with anyone for a personal loan that was as helpful.

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frederick Chase

August 8th, 2017 San Antonio, TX

Everything fast and clear. When I had a question expertly answered. Process quick.

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Susan Malone

August 8th, 2017 Oswego, NY

Best Egg was very quick on their decision and gave me a personal loan to consolidate higher interest bills. I was very please with their service. I would highly recommend Best Egg to anyone who needs a personal loan.

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MARK STIMAC

August 8th, 2017 Harrisburg, NC

Very smooth transaction, was approved same day for amount requested, will def do business again

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James Yokum

August 8th, 2017 Bullhead City, AZ

It was easy to contact customer service and the representative was helpful.

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james bernstine

August 8th, 2017 Escondido, CA

Thank you all for fast service keep it up best egg will tell friends about best egg thank you Best egg James bernstine

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Michelle marlowe

August 8th, 2017 Missouri City, TX

Great Experience with Best Egg!! Very knowledgeable and friendly Customer Service

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Robin

August 8th, 2017 Warren, AR

Very easy to apply. No hidden fees or fine print. Fast funding.

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stanley deburger

August 8th, 2017

the people that helped me get through the loan process were polite and helped answer all my questions about my loan very satisfied with the process

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Clem

August 8th, 2017 Sacramento, CA

Easy application. Quick response. Simple verification and quick funds delivery. 3 days!

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D Bartley

August 8th, 2017 New York, NY

Best Egg provides smooth comfortable credit service online - with very fair interest rates. This is a great company to do credit business with, impressive - and Thanks !!

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Karla

August 8th, 2017

Reputable lending company and very easy to get approved. I had no problems or issues. I had a little trouble sending in the documents requested by uploading but I emailed it in and that was no problem.

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Tibor Horvath

August 8th, 2017 Opelika, AL

I checked many sites for a personal loan and nobody was as great in their offer than BestEgg.com. I recommend this place for a personal loan, don't even look anywhere else!

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EUGENE AUSTIN

August 8th, 2017 Dunedin, FL

Best Egg's claim to being low interest is true. I checked several financial institutions and Best Egg had the best offer.

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Conrad Bennings

August 8th, 2017

No hassle and less paperwork. Great experience

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Laurie

August 8th, 2017

Fast and easy process, very organized. Excellent customer service

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Jason M Sterner

August 7th, 2017 Buford, GA

Best Egg is one of the best loan experiences I have ever had. Quick, easy loan process and very fast. Had my funds in three days. Non-Invasive, willing to help and on my terms. Very good system to walk you through the process at your pace to meet your specific need.

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Staci Steffen

August 7th, 2017

Easy application process and quick decision/approval.

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Maria Gonzales

August 7th, 2017 San Antonio, TX

It was easy, fast. Has given me a chance to be debt free. Thank you

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Jeff B

August 7th, 2017

Very fast. Very easy. Very friendly. Fair.

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Hyung Kim

August 7th, 2017 Honolulu, HI

The loan process was easy to apply for and the processing time was much faster than I has imagined.

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Lacey McKenzie

August 7th, 2017 Lake in the Hills, IL

Their service is quick and easy. I was approved and had money in my bank sooner than I would've ever expected. This is a company that WILL get something done WHEN they say they're going to do it. Money isn't something you want to wait around for and I definitely didn't have to wait.

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PATRICE BLOOM

August 7th, 2017 Tucson, AZ

This has been a great experience. It was a fast and pleasant process for the need that I had. The representatives involved were very friendly and knowledgeable of the product. I would recommend this company to friends and family if needed.