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Best Egg

Best Egg
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Overall Satisfaction Rating 4.86/5
  • 5 stars
    154
  • 4 stars
    3
  • 3 stars
    2
  • 2 stars
    1
  • 1 stars
    4
Based on 164 ratings submitted in the last year

Best Egg offers a fixed APR, which means your monthly payment will be the same. You could get money in your account in as little as one business day with no pre-payment fees if you choose to pay it back quicker.

BOTTOM LINE

Best Egg is an online lending platform that specializes in providing fast, low-interest personal loans. Best Egg focuses on getting you the most competitive rates.

PROS

  • All online process
  • Take out multiple loans
  • Receive funds in as little as a day

CONS

  • Strict credit score requirements
  • Strict income requirements

How does Best Egg work?

Best Egg offers unsecured, low-interest personal loans from $2,000 to $35,000. The application process is simple:

  1. Fill out the application on Best Egg’s website. You need to have certain information on hand, including:
    • Your desired loan amount
    • Individual and household income
    • Home type
    • Debt information
    • Personal information (e.g., Social Security number)
  2. Best Egg runs a soft credit check to determine your eligibility and potential rates. This check won’t affect your credit score, and it lets you compare loan offers.
  3. Best Egg gives you offers for 36-month and 60-month loans. Once you agree to your loan terms, the company may request further proof of identity and income. You also need to provide your checking account routing number, which Best Egg uses to transfer funds.

It’s important to note that Best Egg conducts a hard credit check before finalizing your loan, which could affect your credit score. Best Egg also has specific eligibility requirements that loan applicants must meet, including:

  • A credit score of 640 or higher
  • An annual income of $50,000 or higher
  • A valid email address and bank account
  • Be of legal age to accept a loan in your state of residency
  • Be a U.S. citizen or permanent resident residing in the U.S.

Best Egg allows you to have two open loans at a time as long as the first loan is in good standing and has been open for at least six months. The combined amount of both loans must be less than $50,000.

How much does Best Egg cost?

Best Egg charges a one-time origination fee on all loans to cover processing. It’s an upfront percentage taken out of the amount of your loan and included in the annual percentage rate (APR). The APR can be anywhere from 0.99% to 5.99% and is based on the loan's length and your credit score.

Because Best Egg’s process is entirely online, the company has fewer underwriting costs and can offer better interest rates and fewer fees than many other loan providers. Loan terms typically last three to five years, but Best Egg doesn’t charge prepayment penalties — you can pay off your loan in full anytime after your first month’s payment without incurring any extra fees.

There is a $15 late fee if Best Egg doesn’t receive your payment on time and a $15 return fee if there are insufficient funds in your account. Best Egg may also charge a $7 processing fee on each payment if you don’t enroll in an automatic payment plan.

Is Best Egg worth it?

Best Egg offers fast and easy personal loans that can get you the funds you need in as little as one business day. The lack of prepayment penalties is a positive for people who want to flexibility to pay off their loan early, and the digital platform lets you quickly compare what they have to offer. If you meet the eligibility requirements, consider using Best Egg for your next loan.

Best Egg Reviews

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Page 1 Reviews 0 - 10
Rated with 5 stars
Verified Reviewer
Original review: July 8, 2020

I learned about Best Egg through Credit Karma and I have and continue to have a good experience with both. Best Egg makes applying for a personal loan very simple and the initial inquiry does not affect your credit score. You fill out the form and they come back and tell you how much you qualify for. You can then accept that amount or choose a lesser amount. You can also choose the interest payback option that works best for you. You also get to choose if you want to either add the application fee to your loan which of course will increase your loan amount or have it deducted from your loan amount. They send you emails so you don't have to guess about the status of your loan. A representative will call to confirm your info and then in a matter of 1-3 days you are approved and the money is in your bank account. Using autopay ensures that your payments are always on time, just make sure that the funds are in your account.

After having to make some major purchases I took out a second loan to pay off the previous loan and my credit card, so I am on my second loan with Best Egg and am a satisfied customer. I am the type of customer that if I am dissatisfied I will let everyone know, but when I find a company that practices the 'old-school' values of professionalism & courteous customer service then I am more than happy to sing their praise! I highly recommend Best Egg!!! Sincerely, vlw.

Best Egg response

Thanks for sharing your experience, Valerie!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 25, 2020

    When I had some financial obligations that I needed to do for my religious stuff, I was going to go through my bank but when Credit Karma offered Best Egg, I thought, “Why not try it.” I never heard of them, but to my surprise, the process was very smooth. It was very professional and hassle-free. It was one of the best loan experiences I’ve ever had.

    I did the application on my phone and it took less than 20 minutes. I put in the information and the request for the amount. They then asked me for something a day or two later and I had the money within three days. I got the money a month or two ahead of when I needed it so I got a lot of good interest off it just sitting there waiting for me. I spoke to somebody once when I was waiting on the final approval and then once when I wanted to see if I could change the frequency of my payments to pay the loan a lot quicker. The customer service aspect of Best Egg has been phenomenal as well. I’ve been treated better by them than by my credit union.

    Best Egg response

    Thank you for sharing your experience with us! We are glad you gave us a try!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 29, 2019

    My experience with Best Egg initially was good. They did what they said they would do. They gave me a great rate. I paid up a bunch of bills with it, and I did some home improvement. And I did it again, and everything worked right. The third time I tried to do it, they kept denying me. They kept sending me pre-screened offers, but then when I would apply, they would deny me saying that my debt to ratio income was too high. What I tried to explain to them is that I did this on my own. I'm married, but I never involved my wife. She has an income and even though she benefit from what I did, I never involved her with it. But they never took her income in consideration. They just kept denying, and I got frustrated with them and I ended up getting another loan company at a slightly higher rate. I wasn't happy about that.

    I kept telling them, "Hey, the money's always there every first of the month. I never had a late payment." I guess they have a criteria they have to stick with. It just seem kind of stringent to me, but it seem to me that my record didn't count for anything when I went to apply for the third loan. Still, I'm not mad at them. I might apply with them because they still send out offers.

    Best Egg response

    We're glad to hear we could help! If you have any other questions or concerns, please do not hesitate to give us a call at 855-282-6353.

    3 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 24, 2019

    I was just trying to see if I was gonna get approved, and Best Egg came up, and they sent me an email. It seems like it was a process, so I went ahead and went for it. I read everything first to make sure the interest is what they said it was gonna be, then I read the reviews to make sure the customers were agreeing with what they were told. And then, I did the application online. It was really simple. But I didn't finish it, and a lady gave me a call. I told her I was just kinda playing with it. And she told me that all they needed was something with my checking account. I bank with a credit union, so I didn't have my whole checking account because they only give us six numbers. The rep told me if I could verify my bank, then she would verify my employment. So we did a conference call with the bank, and she said I was approved if I wanna move forward. I felt confident with the rep. Also, the rate and terms were pretty fair.

    I was a little confused at first because the rep was telling me I was gonna get an email, but I've seen where the emails was coming through. And then I called back and said that I was checking my email, but there was nothing there. And that rep said that I should get it on Tuesday because it was the weekend, and once I received it in my bank account, that's when I would get the email. I checked with my bank on Tuesday, and it wasn't there, but Wednesday morning, it was there. Overall, everything has been what they said it was gonna be.

    Best Egg response

    Thanks for sharing your experience!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 20, 2019

    I had a very hard time in my life. I just came off from the military. I was disabled, so they medically released me. They did not medically retire me, which caused a lot of financial strains because you have to fight for percentage. With the whole military thing, veterans end up having to fight for percentage, and the percentage is how they determine what you receive monthly for your disability, and then deeming you no longer capable of carrying out your duties based on whatever injuries you received in the military. So, that was a long, lengthy process.

    I left my full-time employment to go to war and coming back, I'm now disabled, rendering me incapable of carrying out the same duties that I had prior to deployment at my civilian job. They put me on medical restriction, which prohibited me from working. It took a long time to get back to work. So, all those lack of employment situations left me in a financial puddle. I considered my credits to be good so I applied for a loan from a bank in my area, which was Chase at that time, and the process was crazy. They wanted things I couldn’t deliver.

    I've been deployed, so I wasn’t receiving a full-time check from my employment, and I was not receiving, any longer, funds from the military. So, I had no real proof of income. I was receiving monies, but it wasn’t the same amount as I was receiving before. Best Egg took a chance on me. They looked at my payment history and I had no debt at that time. I paid everything off while deployed. I had secured my home so I had a mortgage, but that was it. I had nothing, just the $1,600 a month for my mortgage, and proof that I was capable of paying that from the monies that I was receiving from both the VA and the partial payments I was receiving from work, which at that time, they were paying me my vacation pay and sick pay. They were paying me things that they shouldn’t have been paying.

    Best Egg didn’t hassle me, they didn’t bother me and whatever was sent from the application process, they reviewed it. My money was in my bank account in three days. From the day I applied ‘til the day I got my money, it was three days. I'll never forget it. They take the payment right out of your account to make sure the money is in it. However, I had to keep checking my account to make sure that they took the money. My payment was due on the 22nd of each month, but they wouldn’t take the money sometimes ‘til the 26th. So, I had to keep monitoring my checking account, which isn’t a problem.

    When you owe a debt, you know that you're suppose to leave that money available. I constantly make sure the payment is out before I pay anything else. And I repay everything on the 1st to the 3rd to make sure that there was nothing owed ‘til after they were paid, just to make sure that that money was still in there. So, that was the only issue that I had and that was something that was self-monitoring. It just required me to take that extra step. Other than that, I never ever had a problem. They sent me money, they got their money back, I paid them off early.

    Best Egg response

    We are so pleased to hear we could help during your time of need. If there is anything we can do to make your experience with us even better, do not hesitate to give us a call at 855-282-6353. On behalf of the entire Best Egg team, thank you for your service.

    4 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Sept. 13, 2020

    The representative was very knowledgeable and friendly. She was able to assist me with my financial problem and solve my problem. She also was able to give me other solutions if I continue having financial problems. Thank you.

    Best Egg response

    The pleasure is all ours :)

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Sept. 10, 2020

    Applying for this loan was a simple and quick experience. The money was deposited in my bank account approximately two days after I applied. Twice during the 36 months of payments Best Egg allowed me to skip my payment and added it to the end of my payments at no extra charge. I would recommend this company to anyone needing a loan!

    Best Egg response

    We are thrilled to hear it was simple and quick for you! Thanks for sharing!

    Be the first one to find this review helpful
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: Sept. 4, 2020

    I’ve had my loan with Best Egg now for over a year and I’ve never had any trouble with them. I recently needed to change my payment date. I can say that was the easiest thing I’ve ever done concerning a loan company. They’re great. If you need a personal loan you should try them out.

    Best Egg response

    We are glad to hear we made it easy for you! Thanks for sharing!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Aug. 19, 2020

    I needed to cancel the bank draft and the employee explained the best way to handle my situation without incurring any issues with my credit due to the exact date of my loan payoff being uncertain. He was very helpful, patient and courteous.

    Best Egg response

    We are pleased to hear we could help! Thanks for sharing!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: July 31, 2020

    Best Egg is the BEST place to look for a personal loan. I was approved in January 2020 within one day and throughout the past 7 months have experienced outstanding customer service! I highly recommend Best Egg! Carol

    Best Egg response

    Thanks so much for sharing your experience! We are pleased to hear you had such a great experience!

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    Best Egg Company Information

    Social media:
    Company Name:
    Best Egg
    Address:
    1523 Concord Pike, Suite 201
    City:
    Wilmington
    State/Province:
    DE
    Postal Code:
    19803
    Country:
    United States
    Phone:
    1-855-282-6353
    Website:
    www.bestegg.com