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Best Egg

Best Egg
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Overall Satisfaction Rating 4.83/5
  • 5 stars
    214
  • 4 stars
    6
  • 3 stars
    2
  • 2 stars
    1
  • 1 stars
    8
Based on 231 ratings submitted in the last year

This company is not yet accredited. See reviews below to learn more or submit your own review.

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

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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 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.

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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!

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    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.

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

    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.

    Best Egg response

    Easy and quick is what we like to hear! Thanks for sharing your feedback with us!

    3 people found this review helpful
    Resolution In ProgressRated with 1 star
    Verified Reviewer
    Original review: June 16, 2020

    I held a personal loan with Best Egg. Due to temporary personal hardship circumstances, I was unable to comply with my loan agreement and had to negotiate a settlement with the company. I completed the settlement on schedule and the loan was closed. Best Egg reported the loan as closed to the various credit bureaus. Having fully understood the underlying tax implications, which will see the amount written off being designated as income on my next tax filing, I was hoping to see a possible increase in my credit score, having now closed an account and lowered my overall credit balance.

    However, Best Egg not only informed the credit bureaus that the account was closed, they also listed the account as a "derogatory" account. I would advise you that if you are unfortunate enough to hold a loan with Best Egg and be required to negotiate a settlement with the company, the company policy for reporting the account closure will not result in any hoped for increase in your credit score but will, instead, result in a minimum decrease of 85 points, due to the "derogatory" tag. This, in spite of the fact that all particulars of the settlement agreement were fully complied with.

    Best Egg response

    Douglas, we have looked into your concerns that you have shared and we are sorry to hear about your experience. If you'd like to discuss your concerns further, please call 855-282-6353.

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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!

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    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: May 30, 2020

    If you need a personal loan that is easy to apply, manage, and pay off Best Egg is amazing. We got a great interest rate and amazing customer service. We borrowed twice from Best Egg because of the reasons listed above.

    Best Egg response

    Thanks so much for sharing your experience! We are pleased to hear it was a good one!

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    Rated with 5 stars
    Verified Reviewer
    Original review: May 21, 2020

    This company tries to help, in 3 years never had a problem. They have excellent personnel. Would definitely use them again. Interest rate is a little above average but not unreasonable. Rate is well below other companies.

    Best Egg response

    Thanks for sharing, Tom!

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    Rated with 5 stars
    Verified Reviewer
    Original review: May 10, 2020

    Everything was so easy! The whole process felt like it was designed to be positive, user friendly, and ready to say "yes" to making the experience perfect for us! We applied in minutes, had an answer in seconds, and were fully funded in hours. No catch. We were able to easily select our payment date and we received an interest rate MUCH lower than a credit card. We could not be HAPPIER!!

    Best Egg response

    If you're happy, then we're happy!

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    Rated with 5 stars
    Verified Reviewer
    Original review: May 4, 2020

    Would use them again with no problem, They had emailed me asking if I wanted to put April and May payments on the back of the loan to help out, that was great. Another loan company asked the same thing. I said yes then I keep getting emails asking why my payment was late but NOT From Best Egg. Thank you. Great all around company. Easy to work with. They do care about there customers. (

    Best Egg response

    We are pleased to hear we made it easy for you! Thanks for sharing, Adam!

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    Best Egg Company Information

    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