Get funds in as little as one day with this highly rated online lender.
finder.com’s rating: 4.8 / 5.0
Since Best Egg launched in 2014, more than 350,000 borrowers have taken out a personal loan — totaling over $5 billion. And customers often leave glowing responses about their experiences.
You can borrow $2,000 to $35,000 through a Best Egg loan. But with multiple fees and strict eligibility criteria, it might not be for everybody.
|Product Name||Best Egg Personal Loans|
|Min Loan Amount||$2,000|
|Max. Loan Amount||$35,000|
|APR||5.99% to 29.99%|
|Interest Rate Type||Fixed|
|Minimum Loan Term||3 years|
|Maximum Loan Term||5 years|
|Requirements||Must have a FICO® score of 640+ and be a US citizen or permanent resident. Not available in IA, WV, VT, PR, or GU.|
- Must have a FICO® score of 640+
- Be a US citizen or permanent resident
- Must not reside in IA, WV, VT, PR, or GU
First, do I qualify?
To qualify for a personal loan from Best Egg, you must:
- Have a FICO® score of at least 640.
- Be a US citizen or permanent resident.
- Live in an eligible state.
However, self-employed applicants will have a hard time qualifying with Best Egg. If you’re self-employed, compare your other personal loan options instead.
Best Egg isn't available everywhere
While Best Egg has an extensive reach across the US, it isn’t available in the following states and territories:
- West Virginia
- Puerto Rico
What is Best Egg?
Best Egg is an online lender that offers personal loans between $2,000 and $35,000 — although the minimum can vary by state. And unlike many banks and credit unions, it works fast — you’ll receive an update on the status of your application shortly after you apply. If approved, Best Egg sends you a loan contract to read and e-sign, so you won’t need to visit a physical storefront to finalize your loan.
Your personal loan will have an APR that ranges from 5.99% to 29.99%. If you choose to accept the terms outlined in your contract, your funds may be deposited into your bank account as soon as the next business day. You’ll have 3 to 5 years to pay back your loan, but exact terms vary depending on your state and creditworthiness.
What are there benefits of borrowing from Best Egg?
Here’s what you need to know about Best Egg personal loans:
- Quick processing time. Because Best Egg does its underwriting online, it’s able to process your application within a few days. You may even be able to get your loan funds as soon as one day after you’re approved.
- Promotional offers have added benefits. Borrowers who received an offer code in the mail might be able to qualify for a loan up to $50,000. However, it will still depend on your creditworthiness and income — if you’re approved at all.
- Stellar customer reviews. Nearly 2,000 customers on the Better Business Bureau (BBB) have given Best Egg a 5-star rating, praising its simple and fast application process.
- Multiple repayment methods. Best Egg accepts online payments, phone payments, checks and even money transfers made through Western Union Quick Collect.
What to watch out for
- Not available everywhere. Best Egg doesn’t operate in Iowa, Vermont, West Virginia, Puerto Rico or Guam. If you live in one of these states or territories, you’ll need to compare your other options.
- Tougher requirements for best rates. Borrowers need a FICO score of at least 640. Best Egg also considers your debt-to-income ratio when evaluating your application, so those with multiple loans or credit cards will have a harder time qualifying.
- Fees. Best Egg loans come with origination fees ranging from 0.99% to 5.99%. Late and returned payments attract a penalty fee of $15. And if you don’t sign up for autopay, you’ll have to pay a $7 fee per repayment.
- Hard to apply if you’re self-employed. You could have trouble meeting Best Egg’s eligibility criteria if you work for yourself.
Compare personal loans from top providers
What does the Internet say about Best Egg?
Best Egg has overwhelmingly positive online reviews as of January 2019. It’s been accredited with the BBB since 2014 and has an A+ rating based on factors like business and advertising practices. Out of nearly 2,000 customer reviews, most gave it 5 out of 5 stars.
It gets a similarly high 9.5 out of 10 rating from nearly 2,000 Trustpilot reviewers — 89% of which rated it as “Excellent.” Customers loved how “quick,” “easy” and “simple” the application process was, though a handful had trouble accessing their online account or getting through to customer service.
A few customers reported problems with unauthorized ACH withdrawals and at least one was accidentally charged the wrong interest rate. But Best Egg has worked to resolve all 123 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.
Is it safe to apply with Best Egg?
Yes. You can easily access its website’s SSL verification certificate by clicking on the Secure GlobalSign icon at the bottom of the page. It states that all information sent to its site is encrypted and that GlobalSign has verified Best Egg’s physical location and legal existence — meaning that it’s legit.
It only shares your personal information for everyday business purposes like transferring your money and maintaining your account. It also might share information about your transactions and creditworthiness with affiliates for everyday business and marketing purposes, though you have to opt out of having your information shared for marketing.
Best Egg has served over 300,000 customers and funded over $5 billion in loans.
Am I eligible?
To apply, you have to meet the following eligibility criteria:
- Have a FICO score of at least 640.
- Meet your state’s minimum age requirement — 18 in most states.
- Be a US citizen or permanent resident.
- Have a verifiable bank account.
- Live in a state other than Iowa, Vermont, West Virginia, Puerto Rico or Guam.
Best Egg also considers your credit score history, debt-to-income ratio and other information you give in your loan application.
What information do I need to apply?
Completing the application requires you to submit some basic information:
- Your full name and contact information.
- Your Social Security number and date of birth.
- A valid form of identification such as your driver’s license, passport or other government-issued ID.
- Details about your employment status and annual income.
How do I apply?
To apply, click the Go to site button on this page to be redirected to Best Egg’s application. 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 information about how much you’d like to borrow and your personal information. Read and agree to the E-Sign Act Consent, the 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.
- If you’re satisfied with an offer, read it over carefully and all other documents before clicking Accept and Submit. You should be able to receive your funds in as little as one business day.
Step-by-step application with screenshots
I got a loan from Best Egg. Now what?
There are multiple ways to make repayments — and you can choose to make extra payments without being charged a penalty fee.
You can repay your loan by setting up an electronic funds transfer with your account, 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 — it’s one less thing to remember. If you don’t choose to use autopay, electronic funds transfers come with a $7 fee each time. And 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.
My application was denied. What do I do?
First: Find out what went wrong with your application. Best Egg doesn’t have specific income or debt-to-income requirements, but it still considers them during the application process. Try to take steps to improve the areas where you fell short, whether it involves improving your credit score or paying off some debts first to lower your debt-to-income ratio.
You might want to also consider looking at other lenders before you apply for a Best Egg loan again. Continue looking online, but also consider credit unions, which tend to offer competitive rates and have less stringent eligibility requirements.
Best Egg is a viable option for people looking for an unsecured personal loan that doesn’t take weeks to finalize. And since it’s available in nearly every state, you may be able to apply. However, those without great credit might face high interest rates — and those with scores less than 640 won’t qualify.
*The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 5.99% to 29.99%, which may include an origination fee from 0.99%–5.99%. Any origination fee on a 5-year loan will be at least 4.99% and is deducted from loan proceeds. The APR offered will depend on your credit score, income, debt payment obligations, loan amount, loan term, credit usage history and other factors, and therefore may be higher than the lowest advertised rate. Requests for the highest loan amount may resulting an APR higher than the lowest advertised rate. You need a minimum FICO® score of 640+ to qualify.
Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. Equal Housing Lender. “Best Egg” is a trademark of Marlette Funding LLC. All uses of “Best Egg” on this site mean and shall refer to “the Best Egg personal loan” and/or “Best Egg on behalf of Cross River Bank, as originator of the Best Egg personal loan,” as applicable. Loan amounts generally range from $2,000–$35,000. Offers up to $50,000 may be available for qualified customers who receive offer codes in the mail. Borrowers may hold no more than two open Best Egg loans at any given time. In order to be eligible for a second Best Egg loan, your existing Best Egg loan must have been open for at least six months. Total existing Best Egg loan balances must not exceed $50,000. All loans in MA must exceed $6,000; in NM, OH must exceed $5,000; in GA must exceed $3,000.
Borrowers should refer to their loan agreement for specific terms and conditions. A loan example: a 5–year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3–year $5,000 loan with 5.99% APR has 36 scheduled monthly payments of $150.57. Your verifiable income must support your ability to repay your loan. Upon loan funding, the timing of available funds may vary depending upon your bank’s policies.
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
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