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.
- All online process
- Take out multiple loans
- Receive funds in as little as a day
- 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:
- 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 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.
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I took out a personal loan and chose to do it through Best Egg, considering the interest rate they offered as the primary factor. Another thing was that, when I was looking at the options online, the terms were flexible. The software made it easy for me to take a look at my options and what the payment amount could be if I went certain months. The application process was simple and was made very easy by the fact that I was able to upload all documents at the time I was ready to do it. I was able to work in my own time frame and take the time I wanted to look at it before I decided whether or not I wanted to do it. I never felt like I was being solicited by anyone. Nobody ever called asking whether I'm gonna do something or requiring information. So, I didn’t feel any pressure. And then, within a few days, I was approved. It was quick.
I just wish they would make it to where when you go to your account online, you’re able to immediately access all your information. The way it is now, you can sign on with Best Egg, but if you need specific information, you need to go to that third party and sign on through them. So that’s kinda awkward. Other than that, it has worked perfectly fine for me. I set it up on automatic payment and I don’t have to wonder whether or not things are processing.
That's all great to hear! Thank you for sharing, Virginia!
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.
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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.
Thanks for sharing your experience!
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.
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.
Best Egg had good rates and they were at the top of the list of people that would probably approve me for this. I gave it a shot to see if I would be approved. I was and it was an easy process. It went through really fast. The application process seemed pretty straightforward, just basic questions and then showing that I had some income. I did have to show them that I can pay them back. I did have to back off at one point because I couldn’t get one of the documents that Best Egg asked for. I had trouble getting my pay stubs to upload so I had to do it a different way and that took longer. But it wasn’t really the site. It was a problem on my end, not on theirs. Altogether, the process took about an hour but the initial process only took maybe 15 minutes.
By going through Best Egg, my monthly payment was lower and the interest rate was lower too. The loan stretched out over three years but the interest rate was like 17%, whereas what I paid it off with was 22.5%. I’m real happy with how this worked out. This is gonna save me a lot of money by doing this. I'm a nice, satisfied customer. I was towards the end of paying off some medical bills from last year and I had to use my credit card to pay them off and also take out medical loans. I was really kind of scrambling there to try and do this. But now, with this, I was able to pay off a big chunk of that. I don’t have to worry about what I’m gonna do and how I’m gonna pay rent. The bills will all be completely paid off in two more months and Best Egg gave me the room I needed to be able to get comfortably by for the next two months.
Easy and quick is what we like to hear! Thanks for sharing your feedback with us!
Best Egg is a solution for a short-term problem and it’s not a loan shark. I heard about them from a senior friend of mine who also wanted to consolidate. He told me that Best Egg would treat me right, quick and easy, and would follow through. And that is exactly what happened to me. I’m also gonna get my wife to stop and consolidate her credit card debt and do the same thing because I’m thrilled. I told her, “Don’t look at the loan cost. Do not look at the loan origination. If you do not look at the interest rate, this is only temporary and we’re gonna wipe out these debts at once.”
Best Egg has done a fabulous job. Everyone I spoke to, day and afternoon, helped me and guided me. I’ve never been treated so well in my life. It’s kind of expensive but their customer service department was incredible. Everybody was respectful, professional, and there wasn’t one thing that was not done. Everything they promised, they came through with ahead of schedule. I wasn’t even expecting it. It was too easy. All of a sudden, my account has $5,600 in it. I followed through and did what they asked. My FICO score shot up to almost 700 now and I was in the high 600s.
Every dime that Best Egg paid me, I have accounted for for paying up. I have no credit card debt now and I’m gonna take a 10% hit on that. This month, besides the payment I make, I’m gonna give Best Egg 10% of that loan right back. I’m gonna call them and say I want 600 of principal put right on my account and I’m hoping they're gonna tell me that I can do that.
We're thrilled to hear this! Thanks for sharing Richard.
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With the coronavirus currently affecting the world and its economy, I requested a deferred payment. To my amazement, I was approved up to more deferred payments than expected with interest. Although, I elected to use only what I needed. Customer Service understood my situation and was accommodating to my needs in very little time. In the past, I recommended Best Egg to family and friends and will continue to do so. I had a very pleasant experience.
I have used Best Egg before for a personal loan and when I needed a loan there was no hesitation about using Best Egg again. The process is simple and quick. I was able to pick my payment dates and sign up for autopay so I would not miss or be late on a payment. The communication I get is timely and informative. I don't get a bunch of email or calls selling services.
Simple and quick is what we like to hear! Thanks for sharing!
My wife was laid off due to the Corona Virus Pandemic. That left us with only my paycheck to support our household (we have 2 girls, as well). I called to see what Best Egg could do to help us in this situation. The representative was kind and caring. She listened to our situation and found a way to help us even more than I expected or even hoped for. We will not go anywhere else for our future lending needs.
We are glad we could help! Thanks for sharing your experience, John.
During this pandemic of covid-19 I received an email from Best Egg about help if you needed it in making your payment. It gave the option of online help or call. I called and they answered right away! The man was super friendly and efficient. He helped me and I was off the phone in about less than 10 mins for sure. Best Egg is an amazing company that I am very happy to be doing business with.
We are glad to hear we could help! Thanks for taking the time to share your experience, Sara!
After going through a divorce I needed help consolidating bills. Best Egg was a easy step by step process and I received my money quickly. It was a good move for me so I only had one due date to pay my bills instead of the amount I had. I recently got laid off and I called and they worked it out so I could defer payments for a few months. Customer service woman was extremely helpful and patient with me.
We are so glad to hear we could help! Thanks for sharing, Shannon!
Best Egg Company Information
- Social media:
- Company Name:
- Best Egg
- 1523 Concord Pike, Suite 201
- Postal Code:
- United States