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 is the BEST! Good rates, fast service. It was easy. All the customer service reps were extremely helpful and patient with all my questions. I would definitely recommend them to all my friends.
Amazing customer service and extremely professional in assisting my needs.
It is too early to comment on Billing but speaking with reps. on their service and being comfortable with their answers to my questions, I can say I didn't hesitate to give them my business. The persons I spoke with were knowledgeable and personable. Delivery of the service requested was quick and unpainful. Thank you
Was impressed with the ease of getting a loan for the money I needed. It was fast,and now I have the chance to get some things done I needed too.
I was very skeptical to try this but slept on it for a few days, had the application all completed and ready to hit send. I did need to payoff most of my bills, but thought I would get denied. but finally decided to take the plunge and let me tell you I am very happy I did. paid off most of my bills well the majority with the amount given and now I can sleep better and not worry any longer. one monthly payment a month same amount versus double or sometimes more a month is well worth it, thank you Best Egg.
The process was fast for me. I sent in the paperwork (paystub, etc.) the same day that I applied for the loan. I was approved and funded in less than a week including the direct deposit to my bank account. Yes, my loan fee was high because of my low credit score but I can now pay off the high interest credit cards and pay one place.
M J Owsiany
Super fast, great service, different options offered on loans, would highly recommend
The ease and excellent informative courteous and efficient servic e were all a plus. Very short wait time wa salsa a positive,
Very quick and easy service to use. Will definitely use Best Egg again in the future.
Thanks so much ! I am really looking forward to wiping-out my debt in a timely fashion ! Was impressed with how fast Best Egg came through for me !
Best Egg gave me hope I had almost lost. I needed to consolidate loans and also have money to purchase necessities, and feel secure, after my divorce. Best Egg was fast, easy, and their staff was very helpful and understanding. Thank you Best Egg!
This was an extremely fast and easy process! Thanks for making it so simple.
Russell S Ladd
Your employees were very polite and professional , customer service goes a long way contributing to the success of a company. thank you russell s ladd
Fast deposit to my bank account, good service.
Best Egg's application process is as easy as it gets. My customer service representative, Ebony, was exceptional and very thorough....really helpful. I cannot say enough good things about this company and highly recommend them....VERY SATISFIED!!!
Loan was unbelievably fast and painless. My only regret is that I did not do business with Best Egg much sooner!
Applied for a loan. The application was approved. Received the money into my account two days after I applied. Could not ask for better service.
By far the easiest process! It's no different than any other lender, and it took me under 24 hours to be notified that the funds would be transferred to my account within three days. Interest rates, too, are no different than any bank lender. A couple of documents were uploaded and verified, but that's standard. I definitely would come back, if I needed to. Literally save me a lot of money over time.
Jeffrey D. Gordon
I needed help with paying my Federal and State Taxes due to my oversight. I was hesitent to take any type of loan as I did not want to add to my financial burden. I certainly did not want to use anything that would negatively affect my credit score. Best Egg was the best choice for me. I highly recommend this for anyone that wants help with a financial issue but does not want to do anything that would negatively affect the credit score.
I was amazed at how fast and easy it was to get approved. It was the one option to lowering my credit card debt that made the most sense. Thank you all.
I was skeptical at first, but after the process. The staff was courteous and efficient. Once my paperwork was processed and verified. Money was in account in my account in 2 days. Pleased.
Best Egg surpassed my expectations! Very surprised at how easy and quick the loan process was. All information was done online and finalized in one phone call, by far the most convenient. I would definitely recommend to others.
I could not be happier with my Best Egg experience thus far. I checked with a number of other similar lenders, and the rate offered to me through Best Egg was by far the best. The application process was easy, and I was impressed by how quickly I heard from customer service after submitting my application (literally moments!). The representative who called me was friendly, thorough, efficient, and accurate in explaining what I could expect from the process from that point forward. My funds arrived within two business days and I was able to access them immediately. My only complaint (and it is a small annoyance more than anything) is that in the online payment system, I don't seem to be able to make an additional payment that is less than the amount of my monthly payment - so if I would like to pay a little extra one month, I am not able to do that online unless my payment is equal to or greater than my regular monthly payment. Overall, I am grateful to Best Egg for this loan and for their excellent customer service. I am quite pleased with my service from this company and highly recommend them.
I was very satisfied with the customer service provided and how fast everything happened with the loan. Thank you for your help.
I have never had a loan process as easy, convenient, and as quick as I have experienced with Best Egg. Your rates were better than all of the other establishments I had applied at. Thank you Marilyn Aguilera
I'm not even sure if this company really gives out loans. Every few weeks or so I receive an offer in the mail from them saying I have been pre-selected for a loan of up to $40,000. In the beginning I started asking for a modest size loan, in the $15,000 range, and I was denied. The next time I received an offer I went down a bit to $10,000. Denied. I just got another one in the mail today, and I tried doing it for only $4,000. Denied. It said my credit score was 709, and my income is over 10x the amount of this loan. I just wish there was someway to stop them from sending me this junk mail in my mailbox because clearly I'm never going to be approved.
On December 5 best egg debited my account twice for 544.17 they asked me to provide proof of the double charge. I got them the info five days ago my count still not created this is what I call poor customer service. I talk to a customer service rep named Jennifer. she claims it cannot be posted to my account until it clears on there end. I sent them my bank statement and it clearly shows where it was taking out two times .
Gave me a quick and clear summary of the pros and cons. Positioned me to feel better informed and more confident as I proceed with the borrowing process.
fantastic, both my wife and I got individual best egg loans. I'm at 720 and received 10.99 which crushed my credit card rate, and my wife got 11.99 which helped her out a lot as well. easy process, it took 3 days to be funded once I had my paperwork in. I think they look strongly into payment history but I am grateful for them.
Yes, they actually loan you the funds, at 25% interest. Try paying your loan off early and see what happens. For some reason the payoff doesn't complete and they continue withdrawing funds from your checking. Customer Service is non existent for this company. I sent 4 emails to their published customer service email address inquiring about the payoff I tried to process and didn't receive a single response to any of them. My bank told me they do this so they can charge me a fee for late payment once the payoff doesn't complete. Borrow money elsewhere, avoid this company if possible.
My loan payment was due on August 1. My cell and home number have been ringing off the hook beginning at 8:30 a.m. No creditor begins to call incessantly the next day after the payment is due. In my opinion this is a racket.
Seems legit. Got an invite in the mail and put in my info to see what I am approved for. They offered my 5k, Less than I wanted but I have to start somewhere. I sent all the documents they needed through email. Next day they called and the documents I sent were approved. All they needed to do then is verify my bank account. 5 minutes later she tells me my app was approved for the 5k. The money should be in there in one more day.
I received invitation from best egg for a 4.99% apr for as much as $35,000. No, it is not a typo. My apr on my loan is 4.99%. I applied for a 3 year, $15,000 loan on a Friday. My loan was approved within one hour. All I had to do was to upload a copy of a voided check. By Monday afternoon, I received the funds. I am on automatic payments and extremely happy with the way my loan was handled. My credit rating is pretty high for Best Egg to have provided me with the apr they did. The only thing is that SST is the company that handles the loan which I have no problem with. Thank you Best Egg. A very satisfied customer.
Received an invitation in the mail, went online and applied (2 minutes), had a phone call between Best Egg and my bank (5 minutes). Received $40,000 directly in my checking account less than 48 hours later. Rates were exceptionally fair at 4.33% for 36 months with a 0.99% origination fee. Could not have been easier. Totally satisfied.
Higher rates! Hidden Fees! And yes, they charge you interest on fees over the term of the loan!
Got the invite, applied on line and soon received a call for the documents needed. Boom! Approved! Easiest loan ever. Great interest!
Best egg is exactly as they say they are. I got an offer letter in the mail and applied. They required some additional documentation which I was able to send via email. I contacted them by phone to confirm that they received my information and within an hour my loan was approved. I received the funds the next day along with payment information and the first payment was debited from my account the following month. The interest rates are a little high but much lower than my credit card rates. This loan allowed me to consolidate my debt and give me a reasonable goal to pay it off! I had excellent customer service by telephone and the terms of the loan were clearly stated. My loan was for 10,000 and went smooth! Thanks Best egg for making my holiday bright!
applied for 7000, approved in 1 day had money in three days, not much in the way of needed info, fast service, very happy, merry Christmas to the people of work at best egg, ty again
Not sure why there are all these bad reviews. I applied for 15000 loan and was accepted. My credit score is only 600 and my w-2 stated 40,000 a year. My loan is for 60 months at 25% but it is enabling me to consolidate all my credit cards. I did get quite a few calls during my application process but I think it was mainly because I waited for a couple weeks to actually accept the offer. Seems ok to me. Just got my money so we'll see how it goes from here.
this company should be close they lie people there is not good faith if you know about finance be carefully is better not going for a loan .in my case they charge me almost 5% from the original amount and increase the interest APR so I cancelled this loan .
I sent in an application since last week. I have gotten nothing but phone calls 3-4 times a day to tell me they have not received my documents. Which I find odd, they have received everything but one thing. I have resent it 4-5 times this week and they still haven't received it. But when I call they have the paper work. This has not been easy or fast like they say and ready to just go somewhere else. Tired of the hassel.
Received an application and was approved after submitting their required documentation. Everything was handled in a very professional manner. Payments are on a fixed rate and within my budget while reducing my debt ration.
I got an offer stating that I was preapproved, however, after checking to see what my rate would be I was told that there wasn't any rates available for me. Kind of disappointed as I don't know how this will affect my credit.
Like so many others, I received a letter telling me I was pre-approved for $50,000. I am retired with a very good fixed income, and I have a great credit score. After filling out the application, I was told that they had no rates for me, meaning that I was denied. This is insane. If having checked this out effects my credit score I will be screaming bloody murdsr. Beware these letters telling you that you are "pre-approved."
Got invite. Applied and denied with no explanation. Retired military(26years!!) & disabled veteran who had to get emergency custody of grandchild which put strain on our finances and had to use credit cards to provide care. Now, just want to pay them off to get back on track. Crappy to not to even be given an honest chance to do it.