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Best Egg

Best Egg
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Overall Satisfaction Rating 4.90/5
  • 5 stars
    50
  • 4 stars
    0
  • 3 stars
    0
  • 2 stars
    0
  • 1 stars
    1
Based on 51 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
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Verified Reviewer
Original review: Oct. 1, 2020

Overall, I want to emphasize, how this company has managed the situation during early stages of Covid-19. I called them to ask them to hold my payments until I was in a better situation. They told me not worry, they worked with me. I really felt a little support from a corporate financial company. I Didn't have make payments for 4 months, until last month. I am still struggling with my payments and I really wish the company lower my payments in order for me to be able to afford it. Just saying, they want to go for the extra mile.

Best Egg response

Thanks so much for sharing your experience with us, Josue!

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    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
    Original review: June 11, 2020

    This was a great experience. I was looking for a loan to cover some items and so far this was the easiest loan application ever. Everything was done online - and there were several loan amounts provided, including the amount that I was looking for. All aspects of the loan were provided and it made the decision as to which loan amount I really needed easy. It took way less time - just a day or two to know how the approval process was going and I had my loan in less than 4 days.

    Best Egg response

    We are over the moon to hear you have had a great experience! Thank you for sharing!

    Be the first one to find this review helpful
    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: Feb. 13, 2020

    I applied for a loan through Credit Karma, and Best Egg popped up as a choice. I liked their terms and payment options. Applying was super easy. In fact, I was second-guessing myself if I actually filled out a loan application. It went through so quick - just a couple minutes. The website popped up the terms and conditions and I did accept, and they said the money will be in my account in a couple of days. The payment is an automatic deduction out of my checking account each month. It was very simple and I was very impressed.

    Best Egg response

    Thanks for sharing your experience with us! We are pleased to hear you are impressed with your experience!

    Be the first one to find this review helpful
    Rated with 5 stars
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    Verified Reviewer
    Original review: Dec. 18, 2020

    Best Egg has always been easy to work with from day one. Very fair rates on their loans & the employees are always friendly. Most importantly, when I want to speak to someone live they are always available.

    Best Egg response

    We are thrilled to hear that, William. Thanks for sharing!

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    Rated with 5 stars
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    Verified Reviewer
    Original review: Oct. 9, 2020

    Extremely reasonable rates. Easy to apply. Easy to get funded. Multiple options. When my business ran into financial troubles, like many nowadays, they were quick to offer me payment relief options. The customer service person was INCREDIBLY kind. Couldn't be more impressed.

    Best Egg response

    Thanks so much for sharing your experience with us.

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    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 :)

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    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!

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    Rated with 5 stars
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    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!

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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