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.
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.
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.
Best Egg makes repaying loans simple, with several options to make loan payments:
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'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.
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.
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.
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.
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.
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 , 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.
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."
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.
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.
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.
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."
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.
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.
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
Best Egg loan application was a fast, easy process and I would recommend it to anyone looking to consolidate bills. Instead of paying multiple bills each month with no end in sight, now I have one easy payment with a defined end date.
Was told my pics was good on a Mon should have loan by Wed never got call saying they needed new photos. Haven't received loan yet after new pics 2days later but have my 1st payment in 7days! Wish I would have just canceled!
very simple and straight forward...easy as pie
Its the coolest thing sense sliced bread , it was effortless
You cant know how grateful I am that you approved this loan. Had run into a very tight situation with preparations for our daughter starting college this fall. Now, we can payoff several things and be ready for this transition! THANK YOU SO MUCH!
Easy process and good rates. Thanks a bunch.
John P Wade
Over the past 12-14l months I've received numerous mailings from "best egg" and when I was online checked on the companies reputation. Then today several months later when I finally decided to apply it was quick and easy. JPW
Sorry to say but are you a joke. I have a credit rating of 750 plus. Already been approved through another company for 20k at 7.99 but got your mailier. So i thought i will check on line. YOU say i am approved for 7500.00 at 24.99. Wow no thanks ! Instead of Best Egg change your name to Laid an Egg. Mike
Plan to use the funds to pay off high interest credit cards, and do it all in 3 years or less and save money. Took me a while to accept , but glad I did.
This is my second loan with best egg. Always very easy to apply. Everything from applying to receiving the loan was fast and accurate Thank you for helping out in my time of need
I am a very easy and simple person. I had all the documents etc.. long story short, I couldn't not use the reimbursement for my internet and cable which dropped my income by $2,100. So they raised my interest rate over 1%. It was a long 4.5 days. I went to Avant and got approved in less than 5 hours. Best Egg personnel were friendly but it was this round and round circle. So basically I got a hard pull on my credit for a weeks worth of grief.
The application process was easy, but that's not the problem. Monthly payments come out automatically. I paid a large chunk of my loan off, prior to my April 25th due date. Therefore, my account showed that my next payment wasn't due until May 25th. I paid the balance OFF on April 24th. They went ahead and took the monthly payment out also, even though I paid it off, and it showed the next payment wasn't due until May 25th. This caused my bank account to be overdrawn, and I was charged a $35 fee from my bank. When I called for my refund, the guy said that even though my online account showed that my next payment wasn't due until May 25th, the automatic withdrawl wasn't changed, so that's why it came out again. Ummm....what?! That makes no sense! He said they would issue me a paper refund, and only refund the overdraft fee if I send a statement showing the amount. I advised him that I want the refund electronically, since they chose to take it out elecronically. My bank sent the first statement. The next day, they sent another showing the overdaft fee. After 4 business days, I hadn't heard anything. I called AGAIN yesterday, and was told the second statement showed a "pending" overdraft charge, and that they now needed a THIRD statement showing it was actually charged. 1. NO ONE EVER CALLED TO LET ME KNOW INFORMATION WAS "MISSING," OR FOLLOWED UP 2. The second statement DOES show the overdraft fee as an actual charge. 3. I will not wait 2 weeks for a paper refund, when YOU screwed up, not me. 4. I still haven't recieved or heard anything, and the last converstaion with them was 2 days ago. I will never use them again.
I am so grateful, I am crying. I made a commitment to take charge of my finances this year. The first step was to pay off my debts. My credit card debt is the most problematic because I have high interest cards. I had started a repayment plan that would take 3-5 years. Coincidentally, I had been receiving credit card refinancing offers from several companies. I slelected Best Egg by instincts. I checked the reviews and was amazed at the glowing positive experiences of everyone. Everyone is right. The application process is SUPER easy. I completed it in two minutes and had my approval for a lower APR than some of the credit cards. It was a no brainer. This just makes financial sense. I am so grateful and happy, I did this.
Craig S. Willes
Very nice and pleasant customer service.
Reply from Best Egg
Jul 25, 2019
This is fantastic to hear!
There were some problems but in whole everything was good.
Reply from Best Egg
Jul 25, 2019
Thanks for sharing your feedback with us.
Wow. Put in name, address, SS#, annual income, mortgage amount, and DONE in 5 minutes. Easiest loan ever, and I can pay off the 19% loan. Super duper!
Reply from Best Egg
Jul 25, 2019
We're thrilled to know that your experience with Best Egg has been great so far!
So far so good! If all goes well, this will be a real help paying off my credit cards!
Reply from Best Egg
Jul 25, 2019
We hope so too, Judy! Please let us know if you need anything going forward!
Great customer service they answered all of my questions very professionally
Reply from Best Egg
Jul 25, 2019
This is fantastic to hear!
no problem easy... east to apply had an account before will keep you people ein mind in the future. I look forward to a long business in the furture
Reply from Best Egg
Jul 25, 2019
We hope so too, Art! Please let us know if you need anything going forward!
Customer service was very polite and the entire process was smooth and only took just a few minutes to complete my request and transaction.
The service was very fast and easy to use. I appreciate the quick access to fund in a short time window.
Just fabulous. Service is high quality and the online system is user friendly.
Kristy D. Mundt
Website is so easy to use. Can pay off early and payments are done automatically. This will make my life so much easier. I will tell all my friends about Best Egg.
This was the Easiest process for getting money to put in a new drive way thank you for making it painless Robert and Dollene Miller
I have dealt with Best Egg three times for various purposes. Each time I got great rates and very quick turn around. Probably the easiest loan service I've ever used.
Very professional, simple ,credit vehicle. This applies to all involved in the loan as I had an IT glitch that was handled most professionally.I encouraged and recommend to all thinking about borrowing money. You will be impressed and Amazed at how fast the process is !!!!
It was very easy, fast and not complicated to do on line. I hope that for the next 5 years everything goes as smoothly
This was absolutely the easier loan process that I have every had. I would highly recommend Best Egg to anyone who needs to borrow money.
Helped me out of a jam!! I thought that I would have to jump through hoops, but that was not the case at all not my payments will be a lot lower.
Fantastic customer service. Friendly, knowledgeable and fast.
Very easy - hassle free...interest rate could have been better, but you gave me a better rate than Discover....you might want to tell your telephone reps to be more positive - I would have taken out the loan from you earlier, but was discouraged to do so by the person on the phone - said it would take 7 to 10 days to process the loan - thanks much anyway, it all worked out!!
Horrible Customer Service – Huge Fees – High Interest Rates Best Egg hounds people to apply every month, in my case for over a year. They carefully to tease to apply using low interest rates like 5.99% and then switch it up with higher rates like 18.9% through the application process. So you think they can save you 2-3% and you continue on only to find a HUGE processing fee added to the loan. Example: $3000 loan = $350 fee you will pay interest on or 11+% in my case. If you continue through the process they will ask for tax returns, pay stubs, SS statements, avoided check, and possibly more for verification. After you scan and upload all the documents, don't expect much in the way of communication. You might receive an email telling to check your Dashboard for loan status. Days can go by with no word from them so you log on to your account and check the status. If you have a question expect long waiting periods and when you finally reach a Best Egg agent, they will refuse to tell you anything other than your loan in pending, approved, or closed. They don't use the word “Declined” they use the word “Closed”. My Dashboard said, “Declined for Insufficient Documentation". I think they need additional information and contact them. I wait and I wait and I wait for an agent. Finally get a person, verify the account, mention the dashboard message, and ask what is needed. The Best Egg agent says, "The loan is closed" in a very negative tone. I ask what this means. She says, "It's closed, the loan was not approved. I asked the reason. This is where she became very rude, snotty even, you know the type, highhanded and arrogant, then agent repeats, “the loan is closed". I asked again what the reason was and if Best Egg needed more documentation. This time I get the silent treatment. Dead silence. I heard nothing but the sound of their breath and background chatter. I asked if I would be receiving something in the mail and they said "yes". I asked to speak to a Supervisor and with the sound of "huff" I was put on hold where I waited and waited and waited once again until I was connected to a supervisor who proceeded on and on with a convoluted explanation full of loan jargon without really saying anything other than that “the code” indicated that the income was lower than what was needed for the loan. I was declined with a 50K-60K income, not heavily in debt, good credit rating, nothing ever late, no charge offs, etc. I just bought a house last October and was approved for a 30 year fixed at 3.1%. Hope this review helps others considering this company.
Process was simple, and straight-forward to use. Plus, it only took a few minutes.
The complete process was quite easy,and I received my loan much quicker than I thought. I would recommend Best Egg to anyone who is looking for a loan.
Best Egg was quick and easy! Stress free application process and payments I can afford! Thank you Best Egg!!
James G. Johnson
Nice and easy loan application and approval.
The experience with Best Egg loan was great. They asked for some documents, such as W-2 tax information, which I provided. My loan was approved the next day. It was very easy to do business with them, and get the loan I needed, with a minimum of paperwork or them taking a long time to review my application. I would definitely recommend Best Egg to anyone who needs an unsecured loan at a good interest rate.
The person I spoke with on the phone Leroy was excellent. He was knowledgeable, patient and none judgmental with my lack of knowledge with the whole process. He walked me through the whole process and the funds were in my account within 48 hrs.
It was very easy. They were very helpful and courteous.
My wife and I were extremely pleased with Best Egg and the ease of the application . Within a day we were approved and within 3 days the money was in our account. The money probably would have been in our account sooner but we were having internet/ fax problems due to a storm in our area. Thanks to Best Egg we have a chance to get back on track financially.
William H. Cordell
This is my second loan with Best Egg. In my opinion, this is the most convenient and effective way to transfer high interest credit card debt to a lower interest option. I would definitely recommend Best Egg to my friends and family members.
the simplicity of filling out the loan process was relatively easy to do
Excellent Customer Service/communications. Fast approval and funding.
I read some of the reviews and I was a little concerned with some of the negative reviews. It was so easy to do business with Best Egg. The rate that was quoted on the flyer was what the loan was. It was in my account 2 days after finishing the paper work required. I feel like I will be able to be debt free in three years. Very Good experience.
Best Egg was the best thing that has happened to me in a long time. The experience was the easiest and quickest I have ever experienced for a loan of any kind. I honestly could not believe that borrowing that amount of money could be so easy. And I was really surprised when the money was in my account in less than two days. I am so thankful to Best Egg and my friend who told me about this company. Thanks I have told my family members and anyone who might need your service.
Overall this was a very easy & pleasant experience conducted from the comfort and privacy of my own home. It also was very fast, within 3 days I had the funds in my account. I highly recommend this as a very helpful tool!
Edward C Forbes
I am very impressed with the responsive process of obtaining a loan from Best Egg. I recently applied and received my second loan with a minimum hassle and time. Thank you!
Doing what I can to improve my credit this will be a great way interesto rate was a little high but next time it will b better I will definitely tell others about ihis . Have a blessed day an thanks again
I cannot say enough good things about Best Egg. It was an easy process, the customer service was exceptional. The peace of mind I have now that my high intrest cards are gone and I can be debt free in shorter time is awesome.
Best Egg provides exceptional, effortless service. Every aspect was flawless accomplished in just a few days. I highly recommend this service to anyone wanting a low interest rate loan. Thank you Best Egg!