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

Erin

July 21st, 2017

Thank you Best Egg for the quick and easy application process! I could not be happier and just wanted a chance to pay down some higher interest loans and credit cards to help bring my credit score up; thank you for helping me to be able to achieve that!

starstarstarstarstar

Michelle Thomas

July 21st, 2017 Boise, ID

This was the easiest and fastest loan my husband and I ever got. We got a great low interest rate so we can pay off our credit card debt. We will save thousands over the life of the loan. Happy and please customers!!!

starstarstarstarstar

Mthoefel

July 21st, 2017 Bayonne, NJ

I used BestEgg for a debt consolidation loan and the entires process was easy and flawless. I shopped around and they offered me the best rates. The application was easy and they kept me posted all the way. Funds were in my bank account in 2 days. Excellent experience. I highly recommend. Thank you BestEgg!

starstarstarstarstar

Edward Cordivano

July 21st, 2017

I recommend anyone who needs a loan. It was fast and easy. Very friendly!! Payments are easy to make. Please get a loan from here..

starstarstarstarstar

Roxanne Collins

July 21st, 2017

Best Egg was extremely easy to apply for and funded me very quickly!

starstarstarstarstar

Carolyn

July 21st, 2017 Paterson, NJ

I was very pleased with the application process, particularly the speed and ease of it. I am also satisfied with the terms of the loan, which are very reasonable.

starstarstarstarstar

Madeline Hopkins

July 21st, 2017 Midland, TX

I had been looking for for a lower interest rate to refinance and consolidate my debt for quite some time and Best Egg made it so simple and easy. I called the customer service number to check on the status of my application and they approved it right there with me on the phone. Looking forward to saving some money while I pay off debt!

starstarstarstarstar

Gary Carmack

July 21st, 2017

The service customer service was very helpful and getting my loan approved

starstarstarstarstar_border

Vance smith

July 21st, 2017

Extremely satisfied with the experience The customer service was excellent.

starstarstarstarstar

David L Dryer

July 20th, 2017 Saint Joseph, MO

Friendly customer service. Best loan company. The loans really helped with cosolidation and saved us on interests

starstarstarstarstar

Nadine

July 20th, 2017

The process was easy and the website is top notch!

starstarstarstarstar

Michele Oathout

July 20th, 2017 Albany, NY

So easy so convenient. Quick response. Thank you best egg.

starstarstarstarstar

Donna Banuelos

July 20th, 2017 Spring Hill, FL

This was an amazingly easy process! I was approved for my loan in less than 10 minutes.

starstarstarstarstar_border

C.Mendez

July 19th, 2017

Best Egg made the process very simple and convenient, yet I felt that my information was safe because of their verification process. The short response time was remarkable.

starstarstarstarstar

jeremie hernandez

July 19th, 2017 Durand, WI

what a great company when needing a loan. Customer service was great and hey got me the money i needed to pay off my bills. I will definitely let friends and family know about this company.

starstarstarstarstar

Nelson E. Sample

July 19th, 2017 Waldorf, MD

I received an offer via US mail from Best Egg and within 5 business days I received my loan request. Best Egg has tapped in to a market that has a huge upside for their business. For me, it allowed me to obtain funds immediately to pay off a debt. I do not like the interest rate I received and will make this a short term loan in order to reduce the cost.

starstarstarstarstar

Krystal Reid

July 19th, 2017 Cincinnati, OH

Best Egg is very easy to deal with and have helped me with debt consolidation for years. Highly recommended!

starstarstarstarstar

Janona

July 19th, 2017

The process was quick and easy. Ten minutes at the most. The loan was approved when other lenders wouldn't.

starstarstarstarstar_border

Sandra smiley

July 19th, 2017

It was fast and easy ,thank you,we're on the road of paying off debt

starstarstarstarstar

Raul Mesa

July 18th, 2017

Best Egg delivers Very fast processing. with low rates

starstarstarstarstar_border

Alejandro

July 18th, 2017

Best Egg was an amazing experience. The process to get this loan was easy to follow on line without having to upload any extra document,

starstarstarstarstar

Jose S

July 18th, 2017 FL

Very fast to respond and very fair on the rate they gave me

starstarstarstarstar

Robert Cortez

July 18th, 2017 Fountain Valley, CA

Loan process was effertless. Recieved my funds in two buisness days.

starstarstarstarstar

Kristina Salter

July 18th, 2017 Cortland, NY

The process was painless & fast! Couldn't be happier. Thank you Best Egg !!!

starstarstarstarstar_border

Danish Noor

July 18th, 2017 Peoria, IL

Great rates, great service, quick process!

starstarstarstarstar

chris baas

July 18th, 2017 Charlotte, NC

Super easy experience so far. Thanks for the help!!

starstarstarstarstar

Nancee Ott

July 18th, 2017 Mesquite, TX

Thank you for being up front with me on all accounts: payment, interest, etc. This is the reason I borrowed the money from you. Also having English speaking people on your staff.

starstarstarstarstar

Stephanie Hall

July 18th, 2017 Birmingham, AL

Best Egg approved my loan when I was denied by other lenders. I am so grateful that they were willing to give me a chance and reviewed my credit history as a whole instead of just my FICO score. Thanks to Best Egg I'm on my way to financial freedom!!!

starstarstarstarstar_border

Desmond Partin

July 18th, 2017 Charlotte, NC

I recieved a advertisement through the mail so I looked into the offer. The application process was easy and quick.

starstarstarstarstar

Maryland

July 18th, 2017 Columbia, MD

Application process was easy and quick. I used my loan to consolidate my credit cards, which had an APR for 25.99% and I was offered a rate for 10.99% so that was good for me. I thought the loan fee was reasonable and comparable to other loans I have taken. They gave me the option to repay the loan in 3 years or 5 years and they broke down payment amounts for each plan. They told me when the money will be taken out, which will be done automatically. So I don't have to worry about login on to make a payment. I also thought my repayment amount was affordable. Thankful to have found out about Best Egg. Hope it works for someone else!

starstarstarstarstar

Pete Roberts

July 18th, 2017 Chicago, IL

Easiest loan that I have ever applied for. From start to finish in less than a week.

starstarstarstarstar

Michael S Cromer

July 18th, 2017

The representative was very helpful and kind to me in getting this loan. I am very happy that I can finish my home remodeling. I would recommend Best Egg to anyone needs some help. The process was very simple and fast. Thanks again. Michael

starstarstarstarstar_border

JC

July 18th, 2017 Portland, OR

The process for applying and receiving approval was on par with other loan servicers, if not faster. It was a relatively no-hassle experience, except that the upload documents tool on the site is a bit confusing with no confirmation for days (if it's outside business hours) that the actual document was received. There was also no update made to the document required status (after over the phone I was asked to provide more documentation) until the "Approved" page appeared. Also, don't try to call after say 5pm PST because, despite the fact that there are no office hours listed on the site re: the 1-800 number, no one will answer. In fact, you'll sit on hold, "waiting for the next representative to be with you in a moment" for over 20 mins before the system eventually just hangs up on you with no message, no warning. This simple fix (saying in your system that your phone hours are e.g. 8AM - 5PM PST) would be a huge customer experience improvement. Overall, pretty happy with the process despite these hiccups. Thank you Best Egg!

starstarstarstarstar

Brandon

July 18th, 2017

Holy Crap that was quick and easy. 22 minutes start to finish and half of that was me trying to decide what loan option i wanted. Approved and just waiting for 1-3 days for funds to hit my account. Could not be simpler. Rate beat my personal back by a mile!

starstarstarstarstar

Bruce Bowman

July 18th, 2017 TX

Very professional service. Fast, friendly and direct. What a great experience! Thanks Best Egg! Keep up the great work!

starstarstarstarstar_border

Christine Allen

July 18th, 2017 Salisbury, MD

My experience with bestegg was painless! Very user friendly.

starstarstarstarstar

Wilson

July 18th, 2017 Germantown, MD

I was totally surprise to see it was quick and easy to payoff credit card debt.

starstarstarstarstar

Randy Miller

July 18th, 2017

Very Pro. Good caring people . Happy with everything when dealing with Best Egg.

starstarstarstarstar

IVAN F CUARTAS

July 17th, 2017

Excelente rate and the people the coustomer service very nice

starstarstarstarstar_border

Kimberly Medley

July 17th, 2017 Meriden, CT

Customer service reps were so friendly and knowledgeable. Each one took the time to explain the terms of my loan and were happy to answer any questions I had. I couldn't believe how quickly I was approved for a loan. I'm a happy lady. Thank you....

starstarstarstarstar

Viridiana Meza

July 17th, 2017 Muleshoe, TX

This is by far the best loan process. The application was easy, no hassles, and it was done within 2 minutes. I received an approval confirmation and the money was transferred to my account within 2 days. This was the best experience I've had when applying for a loan.

starstarstarstarstar

Judy Morgan

July 17th, 2017

Everything was done at top speed - I am very happy to have done business in this manner and will for sure do business again with them ... highly recommend

starstarstarstarstar_border

Laura Bundy

July 17th, 2017 Plainfield, IL

I spoke with a few different representatives for customer support and both did an amazing job helping me to understand the loan process better and making me feel at ease. Thank you for your service!

starstarstarstarstar

felicia anderson

July 17th, 2017 Ocoee, FL

I received a letter in the mail and was approved! simple and easy

starstarstarstarstar

Dianna Bowers

July 17th, 2017 Knoxville, TN

The application was easy and convenient and my loan was funded the fastest I've ever had!!

starstarstarstarstar

Timothy Gray

July 17th, 2017

This product is awesome. I received a pre-approve notice in the mail and filled out the application online with no problems. Twenty minutes later I'm approved with a good rate and more than I thought I would get. So far So Good.

starstarstarstarstar

JOHN MOSELEY

July 17th, 2017 Birmingham, AL

The loan process was fast and easy. I called and was taken care of by a very nice person.

starstarstarstarstar

JEFFREY MORGAN

July 17th, 2017

My Best Egg is awesome and they have very professional associates on the phone with good customer service skills..I will be sure to refer them to some of my friends or colleagues in the future!

starstarstarstarstar

Carol Headding

July 17th, 2017 TX

I had a previous loan with you and the experience was wonderful. I had a previous loan with you and the experience was wonderful and now I'm going to get another loan. Your interest rates are very competitive and I really appreciate that thank you

starstarstarstarstar

Kathleen Sanchez

July 17th, 2017 Coulee Dam, WA

This experience was very enjoyable. No one likes to be in dept. but life happens. Best Egg has given me the opportunity to live comfortable again. I really can start building my nest egg again. Thank you Best Egg for this opportunity.