Best Egg personal loans review
Borrowers love this online lending platform, but watch out for high fees.
finder.com’s rating: 3.85 / 5.0
- Best for borrowers looking for an online lender with a great reputation for customer service.
- Pick something else if you want to avoid high origination fees.
Max. Loan Amount
5.99% to 29.99%
Min. Credit Score
Anna Serio is a trusted loans expert who's published more than 800 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like CNBC, Business Insider and The Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Best Egg is a good fit for borrowers looking to work with a company with stellar customer reviews. It has high ratings on both the Better Business Bureau (BBB) and Trustpilot — and many customers praise its streamlined application process.
But while its rates aren’t the highest out there, it’s not the cheapest option, either. You may be on the hook for a steep origination fee — and you can’t borrow more than $35,000 unless you received a prequalification offer in the mail. Self-employed borrowers may also struggle to qualify.
Not sure Best Egg is right for you? Find other personal loan options below.
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How much will this loan cost me?
Best Egg isn’t a fee-free experience. APRs range from 5.99% to 29.99%, and you may be required to pay an origination fee of 0.99% to 6.99% — which gets taken from your total loan amount before funds are disbursed.
Determine your potential monthly repayment with the calculator below:
Monthly repayments calculatorCalculate how much you could expect to pay each month
|Loan terms (in years)|
How it works
Your loan amount, APR and fees will be based on a few factors — your credit score, income and current debts all play a role.
If you just meet its minimum credit score requirement of 640, you may receive a higher APR and a lower loan amount.
Borrowers with good to excellent credit will likely qualify for a lower APR, lower origination fee and higher loan amount.
What do I need to qualify?
To apply for a loan from Best Egg, you must meet the following eligibility criteria:
- Must have a FICO® score of 640+
- Be a US citizen or permanent resident
- Must not reside in IA, WV, VT, PR, or GU
Best Egg also considers your credit score history, debt-to-income (DTI) ratio and other information you provide in your loan application.
What information do I need to apply?
Completing Best Egg’s online form requires you to submit some basic information:
- Full name and contact information
- Social Security number and date of birth
- Copy of a government-issued ID
- Details about your employment status and annual income
Pros and cons
- Mailed preapproval notices allow loans up to $50,000
- Stellar customer reviews from Trustpilot and the BBB
- Multiple repayment methods, including Western Union Quick Collect
- Available in most US states
- Good to excellent credit required
- High origination and late payment fees
- Harder to qualify if you’re self-employed
See other personal loan options
Is Best Egg legit?
Does Best Egg get good customer reviews?
|BBB customer reviews||5 out of 5 stars, based on 2711 customer reviews|
|Trustpilot score||4.8 out of 5 stars, based on 4,728 customer reviews|
|Customer reviews verified as of||28 April 2020|
Best Egg has overwhelmingly positive online reviews. Borrowers love how fast and simple the application process is, though a handful report trouble accessing their online account or getting through to customer service.
A few customers report problems with unauthorized ACH withdrawals, and at least one claims they were accidentally charged the wrong interest rate. But Best Egg has worked to resolve its customer complaints filed with the BBB. On top of this, it gave personalized responses to comments on both its BBB page and Trustpilot, an indicator of strong customer service.
How do I apply?
Click the Check my rate button on this page to be redirected to Best Egg’s online form. Then follow these steps:
- Enter your email address and any offer codes you might have and click Check your rate.
- Fill out the required fields with how much you’d like to borrow and your personal information. Read and agree to the e-sign consent, privacy notice and credit report authorization before clicking Continue.
- Complete the remaining fields and click Check my rates.
- You should be taken to a page displaying different offers you qualify for. Click View to learn more about each of them.
- Once you choose your offer, agree to the terms, then click Accept and submit.
Step-by-step instructions with screenshots
What happens after I apply?
Best Egg will process your application and notify you of an approval decision within a few minutes. If you’re approved, you’ll be able to confirm the information about yourself and sign your loan documents. You may receive your loan funds within one to two business days.
How do repayments work with Best Egg?
You can repay your loan by setting up an electronic funds transfer, through Best Egg’s website, by mail or even through Western Union. Electronic funds transfers come with an autopay option, which tends to make repayments less of a hassle. If you’re late on a payment — no matter which method you use — Best Egg charges a $15 fee.
If you run into any problems or have any questions, you can contact Best Egg by calling 855-282-6353.
Frequently asked questions
Personal loan ratings
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