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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 credit card one has a 14% 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% 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 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 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 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% 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. 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 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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7,845 Reviews

Review Breakdown

5 star
91%
4 star
7%
3 star
1%
2 star
0%
1 star
1%

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Value for your money
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Christine Brewer

July 26th, 2017 Kittanning, PA

Ease of loan application was fantastic! Clear directions!

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Peter J. Mertz

July 26th, 2017 Dover, NJ

The process was simple and timely. The customer service representatives were knowledgeable, courteous and professional. The loan process was not complicated. Once I provided the requested information the approval was done in a timely manner. While I had hoped for a lower interest rate, I am extremely satisfied with the outcome.

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Sofia

July 26th, 2017

Our AC unit went out and needed to be replaced ASAP! This offer came to us right on time. Didn't hesitate to start the process and received the funds 2 days later. Piece of Cake!

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Burnard

July 26th, 2017 Canton, GA

I'm happy with the service and the speed of the hole thing

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MATTHEW BENNETT

July 26th, 2017 Horseheads, NY

Consolidated high interest cards into 1 payment, with a little extra cash. Money came quick w/ no problem! Closer to being debt free in 3 years!!! THANKS BEST EGG.

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C, Williams

July 26th, 2017

Oh my goodness, I can't believe how easy this process was. I completed the application in response to a mail offer I received and was approved in less than 5 minutes!! All I can say is wow and I look forward to getting some relief by consolidating my credit card debt.

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Selina Robles Garcia

July 26th, 2017

They were great and patient ... conversation was friendly....

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Lori

July 26th, 2017

Application and approval process was quick and painless. There were a number of loan options provided making me feel assured I was getting the best loan possible for my circumstances.

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Linton Wilder

July 25th, 2017

Great service you provide at a good rate.

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Valerie

July 25th, 2017 Pine Bluff, AR

Fast service over all good service will recommend

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Ann Muehlheausler

July 25th, 2017 Saint Charles, MO

Best Egg was so easy to work with you would be crazy not to do business with them.

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Katie

July 25th, 2017 Novato, CA

I'm very happy with my experience so far. It was an extremely easy process. I was able to consolidate my debt to one simple payment and my credit score jumped 30 points in less than a month. Thank you Best Egg!

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Renee B.

July 25th, 2017 FL

Great company very good service and deliver what they promise !!

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Steven

July 25th, 2017

The process was simple and fast with no problems at all.

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Edward J. Lewis

July 25th, 2017 Springfield Gardens, NY

Excellent customer service. Loren explained in detail what records are needed. Thank you for the prompt service.

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Aaron Driver

July 25th, 2017

Best Egg is a great company with great rates. Other company's wanted to charge me a very high APR even with a good credit score (708+) Best Egg beat them all by almost half ...even beat my Credit Union by 2%. Very fair with quick and easy processing. Thank you Best Egg for not ripping me off with hi rates !

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Ruben Hernandez

July 25th, 2017 Brownsville, TX

I am glad that I applied, the process was extremely fast and during the process I was kept informed thru updates . I will surely recommend Best Egg

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Lon Weatherson

July 25th, 2017 Phoenix, AZ

Great service, competitive rates, rapid funding. Check here before you decide on a loan.

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James Majewski

July 25th, 2017 Columbia City, IN

MyBestEgg.com's mailer that I received was concise, easy to read and east to follow. My online application process was easy to follow and complete. Their timely response was a pleasant surprise.

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Teri

July 25th, 2017 New York, NY

This was the most easiest and quickest loan experience. The agents were all very helpful.

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FELIPE SAHAGUN

July 25th, 2017

Easy application process. Was surprised I did not loose my connection while I tried to figure out how to use the scan feature of my printer, which Windows 10 had removed.

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DAVID ELLIS

July 25th, 2017 Big Rapids, MI

I needed a short term loan to carry me over to when my Vacation rentals kick for the 2018 Spring season in Florida. the no fuss loan policy at Best Egg net my needs and was done quickly!

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Michelle Swanson

July 25th, 2017 Waynesville, MO

Very easy and very quick. Very pleased with the whole experience .

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Robert Wells

July 25th, 2017 Sherman Oaks, CA

Very easy and great customer service. Honest rates for honest loans.

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Rob Calsetta

July 25th, 2017

Best Egg came through with a great rate.After many attempts applying for card consolidation loan.Being told No my balance to card limits were to high or offered a percentage rate higher than my cards

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Carolyn Sutter

July 25th, 2017 Belleville, IL

Very quick. Easy to apply. No hassle. Very satisfied.

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Roman Montiel

July 24th, 2017

They reviewed my loan application, got back to me promptly, asked for verifying documents of income, called me to check my uploads of documentation and approved my loan. Pretty easy

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Charles Butler

July 24th, 2017 Lombard, IL

At every level of interaction, whether with the service department to clarify a matter, the loan specialists or the online application process, this was pleasant, uncomplicated, and provided a great rate for the loan I needed. This was a far better experience than anticipated. I recommend it without hesitation

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David Brandner

July 24th, 2017 Pearl City, HI

My experience with Best Egg is that it was relatively easy. I did not get the amount I requested so now I must revise my financial planning. Delivery process was good and customer service was ok given that I applied on a weekend. I didn't like the billing options because I felt I was being forced to accept automatic payments. The implied threat of being assessed $7.oo is simply unprofessional. That's why I gave you a rating of 7 instead of 8. I lowered it to 7 because of that.

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MARK JARECZEK

July 24th, 2017 Palatine, IL

This was an way too easy experience from start to finish. Customer service walked me through on everything. Best Egg has helped me through difficult times. I so appreciate Best Eggs concerns.

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Regina Crain

July 24th, 2017 Conroe, TX

Loan Process - Easy application, competitive interest rates, and received fund quickly.

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Chris

July 24th, 2017 Mount Gilead, OH

Such an easy process & your notified the same day if your approved.

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Miguel Sanchez

July 24th, 2017

Excellent client services very please with help assistance over the phone.

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Ron Morris

July 24th, 2017 Ashland, OR

very easy to apply and the funds are available very quickly

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Janet Cuenca

July 24th, 2017

The customer service deparment was very helpful. They provided very quick and prompt information and service.

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Allison

July 24th, 2017

Best experience I've ever had with a loan. Will definitely refer friends and family. Fast, efficient, and easy process Funds made available next business day after approval. Approval process is fast. Love best egg

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Denise Waynick

July 24th, 2017 MO

Great experience. Very pleasant and personable.

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Paul Phillip Peters

July 24th, 2017

I had an excellent experience with Best from start to finish. They were extreme professional and quick. I highly recommend them

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Monique Stevens

July 24th, 2017 Tampa, FL

Easiest, fasted loan process I have ever experienced.

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ANTHONY SMITH

July 24th, 2017

Very easy to apply and affordable. Happy!

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Rudolph E Huebner

July 24th, 2017

Easy company to work with. Very straight forward.

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Gail

July 23rd, 2017

Helped over the phone. Easy application process. Speedy reply. Fair offers!

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Robert Gentile

July 23rd, 2017

Best Egg made it fast and simple to get out of an undesirable debt situation following an unfortunate life event that caused me to build up said debt. Extremely grateful to have gotten this help to get back in a better spot!

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Michael reed

July 23rd, 2017

Fast and easy process. very affordable!!

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Larry Walkenshaw

July 23rd, 2017

Very quick and easy! I would gladly recommend to friends.

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Ann Falcone

July 23rd, 2017

I've been trying for months to consolidate my debt, constantly being denied because I had too much debt?! Best Egg was fast and could not have been easier., now I have peace of mind and a lower monthly payment! Thank you!

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Cosme Mora

July 23rd, 2017

Best Egg was very fast and simple to apply a loan for,no hidden fees.You will know if you qualify in minutes..They give you different options for your loan pay off 3 -5 years.Money in my account in 4 days.Very satisfied..

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Tonya Hood

July 23rd, 2017 Shippensburg, PA

Very happy with the convenience of getting the loan. I didn't hear back in the amount of time they originally gave me but when I called, a representative took care of everything at that moment . I highly recommend best egg

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Josie DeDominici

July 23rd, 2017

I was approved quickly and received my loan at the advertised terms. The interest rate is what they said it would be and the payments are what I agreed to. The process was quick and everything was in very clear terms.

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Mark Wales

July 23rd, 2017 Phoenix, AZ

Excuse me as I pick myself up from falling off a log...yes it was that easy of a process to obtain my loan from Best Egg. The application, document loading and validation portion took 15 mins, and lot of that was me double checking info. I had a quick question that I email to them after the process was done, and they answered it within minutes. The next day I go to the website and get my "Congratulations, Your Load is Approved" message. A total pleasure to do business with.