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Best Egg is an online lending platform focused on personal loans. The company has helped fund over $7 billion in personal loans since its founding in 2014. 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 expenses.

With an exceptional consumer star-rating on BestCompany.com, Best Egg loan reviews indicate a quality company with exceptional service. These 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-$50,000
  • Time to funding: As quick as 1 business day after approval and verification
  • Origination Fee: 0.99-5.99%
  • Minimum income: $35,000
  • Minimum credit qualification: 600
  • Loan repayment term: 36–60 months
  • Rates (fixed): 5.99%–29.99% APR (As of January 2021)

The Good

  • Approval Requirements
  • Great for High-Interest Debt Consolidation
  • Instant Decision Process
  • Clear, Transparent Platform
  • No Prepayment Penalty Fee
  • Due Date Changes for Eligible Borrowers
  • Nearly Nationwide Coverage
  • Fixed-Term Plans
  • Simple Interest Loans
  • No Credit Impact for Loan Pre-Qualification
  • Positive Best Egg Reviews

Approval Requirements

Best Egg has lower approval requirements than you might get with other lenders.

To qualify for Best Egg's lowest rate, 5.99 percent APR, applicants should have at least a 600 minimum credit score and an annual individual income of at least $35,000.

Many other personal loan lenders have more strict approval requirements that could be challenging to meet, especially for subrpime borrowers.

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*) ranging from 5.99 to 29.99 percent, and loan terms ranging from 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 percent 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 percent APR and a three-year minimum payment duration, you will only pay $1,901 in interest.

With the same balance and a better APR, Best Egg's debt 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.

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.

It is important to note that most personal loan lenders have an online application, but some will also require applicants to speak with a company representative over the phone to complete the process. A entirely online application can save you more time and get you funding much faster, as is the case with Best Egg.

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 it limits 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.

No Prepayment Penalty Fee

Best Egg does not charge a prepayment penalty fee if you decide to make extra payments or repay the loan faster than your loan term 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 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 that 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 rate changes that can be expected with a variable rate personal loan

Simple Interest Loans

Best Egg loans offer simple interest loans rather than compound interest loans. Simple interest can save you more money overall because interest is calculated only on the outstanding principal balance. Compound interest loans charge interest on the principal as well as on accumulated interest from past non-payments, thus potentially increasing your 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.

If you choose to accept Best Egg's loan offer a hard credit inquiry will be performed, which is standard in the industry

Positive Best Egg Reviews

The majority of Best Egg loan reviews left on BestCompany.com from real customers are overwhelmingly positive, highlighting a quick and straightforward loan application and process, satisfactory rates, and excellent customer service. Best Egg complaints are limited.

If you are interested in reading all current Best Egg reviews, click here.

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The Bad

  • Loan Origination Fees
  • No Joint Loans Available
  • Time in Business

Loan Origination Fees

Best Egg personal loans have an origination fee between 0.99 and 5.99 percent of the total loan amount. The origination fee is the one-time cost for Best Egg processing the loan.

Unlike the interest rate, the APR includes both the interest rate and all fees, including the origination fee.

Best Egg states that any loan with a five-year repayment period will have a loan origination fee of at least 4.99 percent. This fee is deducted from the loan when funds are deposited into your bank account and is considered when calculating the annual interest rate.*

No Joint Loans Available

Best Egg does not currently offer joint loans. Many other lenders have a joint loan and/or cosigner option which can help subprime borrowers qualify and receive lower rates.

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.

The Bottom Line

Best Egg's platform offers personal loans to borrowers with good credit and excellent credit. These loans can be 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, Cross River Bank, is ready to fund qualified applicants, which allows Best Egg to transfer funds electronically to a bank account in as little as one business day.

Best Egg offers unsecured loans with a fixed monthly payment for the life of the loan. The online loan application process takes a few minutes to complete. A soft credit check will be performed once an application is submitted, but customers don't need to 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.

Approval requirements are low and minimal, which is particularly good news for subrpime borrowers - Best Egg's minimum credit score is 600 and minimum income is $35,000. This could make it easier to approved for a personal loan, although your rates and terms will still be dependent upon your finances.

Read Best Egg loan reviews below to see what consumers are saying about this online lending service.


*Trustpilot TrustScore as of June 2020. 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– $50,000. 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%–6.99% 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. What this means for you: 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. We may also ask to see your driver’s license or other identifying documents.

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User Reviews

Star Rating

4.9
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8,268 Reviews

Review Breakdown

5 star
92%
4 star
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3 star
1%
2 star
0%
1 star
1%

Sentiment Criteria

Value for your money
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Quality of product or service
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Customer service
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Nancy Briner

June 16th, 2017 Mitchell, SD

This was a wonderful easy experience. Just fill out an app. show some paperwork to verify things, and wa la, I am now getting a second chance to catch up on my credit.

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Patricia Lionberger

June 16th, 2017

This loan made my life so much easier. Getting rid of credit card debt and having more money left over each month was so helpful to my well being and peace of mind.

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Michael Joseph connell

June 16th, 2017

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

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rsemaria

June 16th, 2017 Lindenhurst, NY

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

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Joe Daly

June 16th, 2017 Chestnut Hill, MA

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

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david collins

June 16th, 2017 Tampa, FL

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

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Joseph Guske

June 15th, 2017 Portland, OR

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

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Carol Gittinger

June 14th, 2017 Austin, TX

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

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Jess

June 14th, 2017 Phoenix, AZ

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

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Mary

June 14th, 2017 Kennewick, WA

Very Fast and service was awesome! Thank You!

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Henry vargas

June 14th, 2017

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

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Margarita

June 14th, 2017

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

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Linda

June 14th, 2017

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

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Carlotta

June 14th, 2017

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

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Melissa Matthews

June 13th, 2017 Richmond, VA

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

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John Wardlow

June 13th, 2017 Lafayette, LA

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

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Elizabeth

June 13th, 2017

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

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LadyGem

June 13th, 2017 Fairborn, OH

I applied so that I can pay off some debt and complete a few needed home repairs. I received an approval rate within 24 hours. I haven't received my funds yet but I'm so very excited and greatful!

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Henry herrera

June 13th, 2017

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

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Gilbert Silva

June 13th, 2017

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

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Julius K. Goaneh

June 13th, 2017

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

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Joseph Tribble

June 13th, 2017 Maitland, FL

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

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Debbie

June 12th, 2017 Columbus, GA

Great Service and great to work with. Hassle Free

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Kristin Shaner

June 12th, 2017 Rochester, NY

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

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Lisa Smith

June 12th, 2017 Cary, NC

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

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Barbara Membrino

June 12th, 2017 Schwenksville, PA

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

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Mark Erdmann

June 11th, 2017

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

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Sonia

June 11th, 2017 Louisville, CO

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

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Roena Henne

June 11th, 2017 Jacksonville, IL

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

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Susan williams

June 11th, 2017 Boardman, OR

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

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Jim

June 11th, 2017

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

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Charles

June 10th, 2017 Boca Raton, FL

The combination of service and delivery cant be beat

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Dora Garcia

June 10th, 2017

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

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Michelle Vickery

June 10th, 2017

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

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Gary Whitney

June 10th, 2017

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

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[email protected]

June 10th, 2017 Leland, NC

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

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gordon jobe

June 10th, 2017

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

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Vank

June 9th, 2017 Fairmont, WV

Easy application process! Will recommend to friends!

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DELORES DORSEY

June 9th, 2017

YOUR PEOPLE ON THE PHONE WERE EXTREMELY HELPFUL AND KIND

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Brian Elksnitis

June 9th, 2017 Seattle, WA

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

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Charlotte

June 9th, 2017

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

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Jerry Hahn

June 9th, 2017

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

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April Yedinak

June 8th, 2017

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

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Lucas Stidham

June 8th, 2017 Long Beach, CA

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

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Scott

June 7th, 2017

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

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Mike

June 7th, 2017 Woonsocket, RI

Unbelievablely fast. Was turned down by a few other lenders. Was given an APR similar to these lenders and was approved almost instantly.

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patrick bixby

June 7th, 2017

Angie made this experience extremely easy and it took less than 5 minutes. Thank you

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Lucille

June 7th, 2017 Springfield, NJ

This process was simple, and fast. Customer service is very good.

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farah abedinpour

June 7th, 2017

Thank you best egg to provide service this easy and fast.

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Pamela Seay

June 6th, 2017 Dupo, IL

I have an existing loan with BestEgg and went back for a bill consolidation. The process was very quick and I love it!