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. 

Best Egg loans are unsecured personal loans made by its lending partner: Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC.

  • 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

With an exceptional consumer star-rating on BestCompany.com, Best Egg reviews indicate a quality company with exceptional service.

Keep reading our Best Egg personal loans review for pros and cons of borrowing money through this service — or click here to go straight to Best Egg reviews

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 percent, 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 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 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 fill-out 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 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 simple, with several options to make loan payments: 

  • setting up an automatic 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 & 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 that you borrow from a trustworthy company that has positive consumer reviews. In the thousands, the majority of Best Egg customer 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. 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.   Penalty-fee 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. 

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 that come with a variable rate 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 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 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 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 percent 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 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 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 itself 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 is the consumer brand of Marlette Funding. As an indirect lender, it uses Cross River Bank as its loan provider. 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. 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 your loan. 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 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. Customers needn't worry about checking rates 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 personal loan reviews below to see what consumers are saying about this online lending service. 

*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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7,422 Reviews

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S. Hairston

June 19th, 2017 Beech Grove, IN

The loan process was really fast, no gimmicks, no games or confusion. I received great customer service when I called to ask a question. I was a bit hesitant initially because I honestly believed they would give me the run around or even deny me after being pre-approved! The rate is a little high, but it works for what I need to do right now.

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Earl

June 19th, 2017

Excellent!!!! This was quick and easy for what I needed this loan for.

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Kelly Ryan

June 19th, 2017 Columbus, OH

It was the easiest loan I have ever received. Only took 2 days. Customer service was excellent! Now all of my high interest rate credit cards are paid off and I feel so much better. Now I will have extra money.

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Bob S.

June 19th, 2017 Aurora, IL

Application process was very easy to complete.

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gary hancock

June 19th, 2017 Lakeland, FL

This was a very positive experience for me as I was somewhat skeptical but everything was exactly the way it was described I would recommend this to anyone

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Michael Roessel

June 19th, 2017 Bayside, NY

I highly recommend this company. The process was fast and easy from start to finish. Money was in my account in two days.

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Peggy Schrom-LaBarr

June 19th, 2017 Schenectady, NY

I received the offer through the mail, thought about it a couple of days applied and had an answer the same day. I then received the money in my checking account extremely quick and I was able to pay the bills I wanted to pay off and book a vacation all within several days.

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Jeff Hofstra

June 19th, 2017 Ontario, NY

Friendly service, quick and easy. Rates are fair

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david collins

June 16th, 2017 Tampa, FL

Our overall experience was great given the speed to process and the short turnaround to have our funds deposited. Fantastic customer service. Would do it again.

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Joe Daly

June 16th, 2017 Chestnut Hill, MA

Second time I have taken a loan with Best Egg it is a great service. Thank you

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rsemaria

June 16th, 2017 Lindenhurst, NY

The best service and the best rates around. A pleasure to do business with.

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Michael Joseph connell

June 16th, 2017

The loan process was made very easy to complete. The approval came very quick,and the road to financial independence can be started.

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Barbara Membrino

June 15th, 2017 Schwenksville, PA

I kept getting offer in mail and finally wanted to call and see what could be done for me they were helpful and I am glad I made the call

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Joseph Guske

June 15th, 2017 Portland, OR

The customer service rep was excellent. My only complaint is, I receive all my income as tax-free...and my Adjusted Gross Income should have been much higher; "grossed-up" by 20-25%, to reflect what earned income I would need to make, to net my reported income. Very frustrating...

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Melissa Matthews

June 14th, 2017 Richmond, VA

I would highly recommend partnering with Best Egg if you are looking for fast money at a decent rate.

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John Wardlow

June 14th, 2017 Lafayette, LA

For some years, I've received advertisements in the mail from Best Egg and others in the industry, trying to entice me into a loan. Not being in the market, I paid little attention to them. Recently, however, after having reviewed my finances and credit rating, I decided a debt consolidation loan might be a good idea. It all came down to whether the rate, monthly payment, and term made sense. As suggested on CreditKarma, and after having read the brief synopses of the various lenders, Best Egg seemed to have the right combination. Their soft credit check and rate/payment quote based on it were hard to turn down. After all, no one who wants to protect their credit rating wants to have a hard credit check, only to risk being refused. I filled out the modest application on a SUNDAY night, not expecting much to happen for a few days. As it turned out, the approval email came about 12 hours later on Monday morning, and the funding in my bank account less than 24 hours following that! No additional paperwork was required, no faxing or emailing of forms, and no obscure information was sought of me. The online application was all there was to it. I'm very happy with the process. The total APR is about a third of the averaged rates of my credit cards, the payment about $100/mo less than I'd been paying, and best yet, I have a solid plan that will have the debt paid off in a mere three years! The one, lower payment is far more convenient, and MAN, it's feeling good to change those automated bank payments to PAYOFFS instead! Thanks, Best Egg. It's been a pleasure.

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Carlotta

June 14th, 2017

The online application process was simple, quick, and efficient with excellent transparency! Do be aware of the final payment clause. This review is based on my application process, but I look forward to my continued interactions with Best Egg after such a great application experience.

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Linda

June 14th, 2017

Amazing. I was only going to check it out. The rate and simplicity was too good to pass up. Thank-you. I still cannot believe have fast this was approved. Your company is Amazing.

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Margarita

June 14th, 2017

It was awesome!!! The fastest application process, about 5 minutes, and once I applied, I received an email that my loan was approved. In 2 days the money was in my account and I was able to pay off the high interest credit cards and make some minor home repairs. The entire experience was incredible.

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Henry vargas

June 14th, 2017

The process was very easy and the rates offered were much better than other similar lenders.

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Mary

June 14th, 2017 Kennewick, WA

Very Fast and service was awesome! Thank You!

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Jess

June 14th, 2017 Phoenix, AZ

I applied for a loan through Best Egg by recommendation through credit karma. Honestly, I was a little skeptical but now i am confidant and comfortable that i made the right decision. I took out a loan to consolidate debt and have one payment. and be debt free in 3 years or less. I felt like best egg was up front about the fees and terms of my loan. I seriously had the money in my checking account in 1 business day! Overall, I had a great experience and would recommend Best Egg.

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Carol Gittinger

June 14th, 2017 Austin, TX

Wow! Went searching for rates on a personal loan. Many offers out there but this was the best value. the online process for completing the application process took less than 5 minutes. It was simple and direct, no wasted time or unimportant information. Done and done!

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Debbie

June 13th, 2017 Columbus, GA

Great Service and great to work with. Hassle Free

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Joseph Tribble

June 13th, 2017 Maitland, FL

Before I followed thru on my applications I authenticated the reviews I read which were all positive. The speed of service /the choices of rate / term selection were impressive. Yes I would recommend your company to anyone who inquired and I would happily refer individuals to your company.

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Julius K. Goaneh

June 13th, 2017

This was too true to believe. I didn't think I would have qualified for a loan based on my credit history. I am amaze with the agility of the lender. It was quick and easy. I would recommend others looking to better their credit.

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Gilbert Silva

June 13th, 2017

This was the easiest and quickest loan process that I have ever had! Thanks for the great service and the opportunity to get my finances to a more manageable status.

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Henry herrera

June 13th, 2017

Great customer service, very helpful staff, made the process easy.

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Elizabeth

June 13th, 2017

Easiest, fastest, and most simple loan experience I ever experienced!

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Charlotte

June 12th, 2017

You all was very fast and professional! Thanks for the loan!

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Brian Elksnitis

June 12th, 2017 Seattle, WA

Thank you. Wife put together her daughter's wedding and 3 years later still drowning in debt. Was able to pay off all of my credit cards and now only have 1 reasonable payment that will be paid off in 3 years or less. Thank you for turning our life around.

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DELORES DORSEY

June 12th, 2017

YOUR PEOPLE ON THE PHONE WERE EXTREMELY HELPFUL AND KIND

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Vank

June 12th, 2017 Fairmont, WV

Easy application process! Will recommend to friends!

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gordon jobe

June 12th, 2017

your customer service is above repoach., and i would recommend them to anyone

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[email protected]

June 12th, 2017 Leland, NC

Excellent and fast. No Hassle, and a great APR to refinance your credit cards. I'm excited to do business with Best Egg! -Michael from NC

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Gary Whitney

June 12th, 2017

the timing was great. this pays off all existing credit cards. Thanks

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Michelle Vickery

June 12th, 2017

I'm very happy with the loan process and am excited to be able to consolidate credit card and other debt. When I'm done paying my loan back, I will be virtually debt free.

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Dora Garcia

June 12th, 2017

I appreciated the ease and stress free application process. Thank you Best Egg.

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Charles

June 12th, 2017 Boca Raton, FL

The combination of service and delivery cant be beat

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Jim

June 12th, 2017

Outstanding customer service, great rates, easiest loan process ever, a great way to consolidate some debt or do some home improvement without a bunch of hoops to jump through or difficult terms, simple auto payment system and no penalty for pre payment. Highly recommended

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Susan williams

June 12th, 2017 Boardman, OR

Application was quick and simple. Courteous and helpful reps. Thanks for help getting my finances under control.

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Roena Henne

June 12th, 2017 Jacksonville, IL

Everyone very nice and very helpful.Was made easy to apply for loan for a senior citizen not computer savvy.After approval ,funds promptly placed in account. thank you for making it easy.Roena

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Sonia

June 12th, 2017 Louisville, CO

I am so grateful to BestEgg for such a wonderful loan product. The customer service is extraordinary. They kept working with me until I completed the loan application process.

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Mark Erdmann

June 12th, 2017

Very pleased with the fast approval and very fast deposit of funds into my bank account

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Kristin Shaner

June 12th, 2017 Rochester, NY

Very easy. Instant approval! Helped me pay off what's I needed to pay off so now I just have one payment!

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Lisa Smith

June 12th, 2017 Cary, NC

Dealing with Best Egg for a loan consolidation was the easiest process I have ever been through when getting a loan.

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Jerry Hahn

June 9th, 2017

Best Egg was wonderful to deal with and they made my loan process so easy. I would definitely recommend them to anyone I know that is in the market for a hassle free personal loan. Great job Best Egg! Regards, Jerry

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Scott

June 8th, 2017

Highly recommend best egg, easy and fast application process Thank you, Scott

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April Yedinak

June 8th, 2017

The process of applying was so quick and easy! I am so excited about saving over $18,000 in interest thanks to Best Egg!

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Lucas Stidham

June 8th, 2017 Long Beach, CA

This process couldn't be more transparent or informative. Ideal lending situation. Can't wait to get the money I need to save more money!