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About Best Egg
Best Egg is an online loan servicer that offers personal, debt consolidation and credit card refinancing loans. It offers loans up to $50,000. The company promises a simple application process and typically sends payments in as little as one business day. Borrowers can take out multiple loans and don’t have to worry about prepayment penalties.
Pros & Cons
Pros
- Fully online process
- Can take out multiple loans
- Competitive interest rates
Cons
- Credit score requirements
- Minimum income requirements
Bottom Line
Best Egg is an online lending platform that specializes in providing quick, low-interest personal loans. It focuses on getting you the most competitive rates. It provides debt consolidation and refinancing options.
Top Best Egg Reviews
Best Egg is a simple process. Professional staff. Excellent customer service. Website easy to navigate. ... I have been on other websites and it has been my experience that as soo...
Read full reviewIn no time a few questions and a loan was provided. Talk about a great experience. Thank you ladies and gentlemen. You are the Best Egg. I've done business with a lot of other com...
Read full reviewWhat is Best Egg?
Best Egg is an online loan servicer that provides personal loans to borrowers across the country. The platform is designed to deliver funds quickly and with minimal hassle. Approvals often only take minutes, with funds available in as little as one day. Best Egg’s personal loans can be used for any purpose, whether you're consolidating debt, renovating your home or going on vacation.
How does Best Egg work?
Best Egg offers unsecured, low-interest personal loans from $2,000 to $50,000. The application process is simple:
- 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)
- 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.
- 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 loan requirements
Best Egg has specific eligibility requirements that loan applicants must meet, including:
- Have a credit score of 600 or higher
- Have an annual income of $3,500 or higher
- Have 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.
Best Egg rates and terms
Best Egg’s APRs can be anywhere from 8.99% to 35.99% and are based on loan length and borrowers’ credit scores.
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 last three to five years, but Best Egg doesn’t charge prepayment penalties. You can pay off your loan in full at any point after your first month’s payment without incurring any extra fees.
Best Egg fees
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).
Best Egg loans FAQ
Is Best Egg safe?
Best Egg is a trusted online loan servicer with positive reviews from many of its customers. The online application and payment portals are secure and easy to use.
What credit bureau does Best Egg use?
Best Egg doesn't specify which credit bureaus it uses to verify borrower details or report payment information.
Does Best Egg verify income?
In some instances, Best Egg may need to verify your income. You may be required to provide proof of income or submit verifying documents.
Does Best Egg charge a fee?
Yes, Best Egg charges a one-time origination fee of 0.99% to 8.99% of the loan's balance. It may also charge fees for late payments and return payments.
Can I pay off my Best Egg loan early?
Best Egg does not charge early repayment penalties. After your first month's payment, you can repay the entire balance of your loan at any time.
Does Best Egg do a hard pull on your credit?
To give you a quote, Best Egg performs a soft pull, which doesn't affect your credit score. Once you accept the loan terms, however, Best Egg does a hard pull on your credit report to confirm your eligibility.
Is Best Egg legit?
Best Egg is a trustworthy online loan servicer with flexible repayment terms and competitive interest rates. You can compare your options, use a loan calculator and explore other resources on its website. For borrowers who meet the credit requirements, Best Egg is worth considering as an online loan servicer.
Best Egg Reviews
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Best Egg had the best rates for my credit history for a long term loan that wouldn't kill me with monthly payments. The lending process was straightforward. I was very pleased with it. It would have been great if the approval was a day earlier. But I understand that they have to verify all the information, and that didn't take them long. And I understand that's done during business hours. But it was easy once they verified my income. And everything that was available that I needed was on their website. They contacted me a few times, and it was just to verify what I put on there, but I understood that to be part of the process. I was happy with that, because if it had been just online, that leaves it open for fraud. I had a couple of immediate expenses to cover and Best Egg helped me not incur the wrong kind of debt.
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As a current LendingClub customer (trying to become former), I am glad I gave Best Egg a shot. They're no nonsense, and straightforward. I felt like I didn't have to ask questions about the process, or second guess anything. If anything was needed to verify my identity or information during the approval process, they were very quick to reach out. I think from the time that I applied to the time that I saw the money in my checking account, it was 4-5 calendar days (because of the weekend). Most of that time was waiting for the funds to appear in my bank account - i.e. had nothing to do with Best Egg.
A representative called maybe twice during the whole set-up process and was only on the phone with me 2-3 minutes each time. It may have been mildly complicated because I started the process through a third-party. I wouldn't consider it complicated whatsoever, especially considering personal experience with other banking institutions and products - loans or not. They also offered the best interest rate and terms and customer service seems to be much more helpful than the competition. Hopefully I'll be able to refinance with them in the near future.
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I was trying to pay off a personal loan with an interest rate that was quite high. I reached out to Best Egg to see if they could improve upon the interest rate, and not only was the interest rate substantially lower, but it also lowered the payment. So, I was able to get out from a 29.5% loan to somewhere around 13%. The whole process took me less than 35 minutes. That was extraordinarily fast and easy. The lady I spoke to was very to the point and very explanatory about what the rate and payment would be. They showed me the loan and when the due date was gonna be for the payment. I asked, "Hey, is there any possible way that you can change this due date?" She was like, "No problem. I got you." It was a seamless, professional, and easy experience that I've never experienced with a loan before ever. She didn't give me a hard time about it.
As far as the documents, all they needed were the Social Security number, home address, and bank accounting information. There was no external documentation. I achieved this whole thing while sitting in my truck at work. That was how easy it was. It was so painless. I needed more than the original loan amount that I was qualified for, and I was like, "Well, maybe I don't qualify for it or something." This lady was like, "Well, how much do you need?" I told her. She did a couple of little number crunches. She was like, "No problem. I got you." So, it was pretty incredible.
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Best Egg had the lowest interest rates. Their application process was easy and took no time. I started it online and then I called and finished it up with a representative from Best Egg. Their reps were very helpful and knowledgeable about the product that they were dealing with and interested in what my needs were. I had an option of getting more than what I was looking for. They enlightened me on that, but I only had a certain amount I was interested in. They coached me through everything and told me about the process and what it was gonna take. Then the next day, I had the money in my account. I was very satisfied. Working with Best Egg, the opportunity was there to help me manage something I wanted to do. It helped me make up my mind on doing what I needed to do and keep from doing something else.
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So happy I found Best Egg online originally. I first contacted them in November 2022 to set up a personal loan for a small home improvement project. I have been just VERY IMPRESSED OVERALL with Best Egg.
* Quick response and approval all online.
* Excellent loan terms.
* Loan proceeds were immediately direct deposited into my personal checking account.
* Easy to set up automatic monthly payments.
* Always receive prompt timely emails about upcoming auto pays and balances.
I called earlier this evening (after "normal business hours") because I was not able to sign on through the Best Egg app that I'd installed on my phone. It didn't recognize my username and password. I'm so happy I called them about my concern. A knowledgeable representative answered the call after only a very brief hold. She was kind, friendly, helpful, positive, and professional. She verified my info, listened intently to my concerns, summarized the concerns back to me, and then walked me through step by step to get me signed into my account.
It was a simple fix. Just go through the BestEgg.com website instead of the mobile app. Turns out that, for now, the mobile app only provides info on Best Egg CREDIT CARDS and NOT PERSONAL LOANS, "although they ARE working to correct that", the representative explained to me. And I did not know Best Egg offered credit cards prior to calling. So that is another possible financial option I can choose to use in the future! I HIGHLY RECOMMEND Best Egg! Getting assistance is quick, easy, hassle free, and AVAILABLE when needed. Thank you!!!
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I was able to postpone a payment easily via their website and a customer service call. They make it easy to manage your account and there are never any surprises. Obtaining the loan was also easy when I first applied.
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The process at Best Egg was good. It was easily done and taken care of. Their rate was also reasonable. I would recommend it.
Thank you for your glowing recommendation!
From day one my experience have always been met, and the representatives uphold their professionalism, so with that being said I owe much gratitude to Best Egg company for allowing me the opportunity to do business with. Thank you so much.
We’re thrilled to hear that you're a happy camper! Thanks for sharing!
The process to apply for a loan was easy. And the funds were available in my account within a few days. Best Egg did everything they said they were going to do. The funds they provided met all of my needs.
We’re thrilled to hear that you're a happy camper! Thanks for sharing!
The Best Egg loan application was simple, automated, and processed quickly. I would recommend Best Egg to friends and family. The loan amount and terms are very reasonable. The loan dashboard and features make it easy to manage the loan. Auto-Pay makes it easy to set it and forget it until payoff.
Thank you for your glowing recommendation!
Best Egg Company Information
- Social media:
- Company Name:
- Best Egg
- Address:
- 3419 Silverside Rd
- City:
- Wilmington
- State/Province:
- DE
- Postal Code:
- 19810
- Country:
- United States
- Website:
- www.bestegg.com