Best Egg offers personal loans for a variety of uses including moving and relocation expenses, vacations, debt consolidation, credit card refinancing and more. Best Egg personal loans are best for borrowers with fair to good credit who want to consolidate their debt at a lower rate. Unfortunately, loans are not available for those who live in Iowa, Vermont, West Virginia, the District of Columbia or U.S. Territories.
Best Egg Pros
Best Egg Cons
Types of Personal Loans Offered by Best Egg
A Best Egg personal loan can be used to help achieve life goals like making improvements on your home, going on a vacation, or welcoming a new member to your family. They can also be used to improve your overall financial situation by consolidating your debt or refinancing credit cards.
Common loan uses |
Prohibited uses |
Debt Consolidation |
Post-Secondary Educational Expenses |
Credit Card Refinancing |
Purchasing or Carrying any Securities |
Home Improvements |
Illegal Activity |
Moving and Relocation Expenses |
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Vacation |
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Special Occasions |
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Baby & Adoption |
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Other Major Purchases |
Best Egg Loan Features
The terms you can get for a Best Egg personal loan will depend on the loan amount and your personal financial situation such as your income, credit score, credit history and other debt obligations. Available loan amounts range from $2,000 to $50,000 depending on which state you live in. Residents of Massachusetts, New Mexico, Ohio, and Georgia have higher minimum loan requirements. You can take out two loans at once although the total balance can’t be more than $50,000. The repayment periods are between 3 years and 5 years.
Loan terms |
Depends on the loan amount, income, credit score, credit history and other debt obligations. Loans can be prepaid without penalty |
Repayment period |
Minimum 36 months (3 years). Maximum 60 months (5 years) |
Loan amount |
$2,000 - $50,000. Residents of certain states have higher minimum loan requirements: $6,500 for Massachusetts residents, $5,000 for New Mexico and Ohio residents and $3,000 for Georgia residents |
Loan Use Limitations |
Multiple loan types offered |
Best Egg Interest Rates and Fees
Best Egg loans have fixed Annual Percentage Rates (APRs) that are 5.99% to 35.99%. Origination fees range from 0.99% to 5.99% and will be subtracted from your original loan amount. Thankfully, there is no penalty for paying back your loan ahead of schedule. Best Egg does not currently charge late fees but that is subject to change. They do charge a $15 returned payment fee.
Borrowing/Origination Fees |
0.99% – 5.99% |
Prepayment Fees |
None |
Late Payment Fees |
None at this time |
Other fees |
$15 returned payment fee |
Interest Rates |
5.99% – 35.99% |
Best Egg Qualification Requirements
You must be a U.S. citizen or permanent resident with legal identification and a social security number in order to apply for a Best Egg personal loan. In addition, you must be of legal age in your state to accept a loan. Best Egg does not mention on their website a minimum credit score or income qualification for taking out a personal loan. However, they do state that in order to qualify for their lowest APR the applicant must have an annual income of at least $100,000 and a minimum FICO® score of 700 to qualify for their lowest APR. Finally, joint loans are not available at this time
Membership Requirement |
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Minimum Credit Score |
Not reported |
Income Requirements |
None |
Co-signer/Joint Application Requirements |
Joint loans are currently unavailable |
Best Egg Application Process
The first step of the application after submitting your email address is to tell them why you need the loan and the amount of money you need to borrow.
In the second and third steps, they ask for some personal information including your name, date of birth, address and phone number.
In the next step you will be asked about your employment status. You must indicate who you work for and how long you have worked in your occupation. If you are self-employed, Best Egg might invite you to apply with their business financing partner, OnDeck, but you have the option to decline this and continue with your Best Egg personal loan application.
Next, Best Egg asks for both your individual along with your household income and what kind of bank accounts you have. If you have income from other sources, such as alimony or child support, you can disclose this information but it is not a requirement.
Best Egg then asks the status of your homeownership. If you rent or have a mortgage, they’ll ask you what your monthly payments are.
Next the application asks if you have taken any credit card cash advances in the last 6 months.
Finally, Best Egg will ask whether or not you want to be enrolled in Autopay.
The initial stage of the Best Egg personal loan application process is quick and only has eight simple steps to complete. Best Egg states that submitting an application will not affect your credit score. Applicants may be asked to provide documentation, such as pay stubs or utility bills, to verify the information submitted. If your application is approved, funds will be deposited into your account in one to three business days.
Best Egg Customer Support
Best Egg Personal Loan customers have various options to get support from an agent:
- Speaking on the phone by calling 1-855-282-6353. Agents are available Monday through Thursday from 8:00am - 10:00pm ET, Friday 8:00am - 8:00pm ET and Saturday 9:00am - 6:00pm ET
- Live chatting through the Best Egg Account Portal
- Emailing Loan_assistance@mybestegg.com
In addition, the Best Egg Help Center has answers to their most common question and there are personal loan guides and general information available on their website.
Many customer reviews talk about Best Egg’s helpful customer service and fast turn-around times. One reviewer on Trustpilot states:
- “Looking forward to a long lasting financial relationship with Best Egg. Great customer service.” - Clint & Moore Ent, Feb 27, 2022
Another recent reviewer reports:
- “Overall the process was quick smooth and satisfying. Even customer service was knowledgeable and informative. I give two tumps[sic] up. Thank you guys so much for the opportunity you were able to provide to me and my family.” - Nikky, Feb 11, 2022
Best Egg Online Reviews
Based on online Best Egg personal loan reviews, it seems the majority of people who get a personal loan from Best Egg have a positive experience. Best Egg has an average rating of 4.6/5 stars on Trustpilot based on more than 6,000 reviews. They have an A+ rating from the Better Business Bureau (BBB) with 4.89/5 stars based on over 2,000 reviews.
Customers are very happy with how easy the application process is and how quickly the funds are deposited into their bank account. Many are thankful that with their loan from Best Egg, they can pay off or consolidate debt and get themselves into a better financial situation.
Customers report satisfaction with the competitive interest rates that Best Egg offers for their personal loans. In many instances people share specific stories of how the funds they received from Best Egg helped them out of a financially tight situation and get back on the right track. They used their personal loans to pay rent, get out of debt or catch up on late payments.
The positive reviews are related to |
The negative reviews are related to |
Quick and easy application process |
Unexpected fees |
Funds deposited quickly |
Being denied after receiving pre-approval letter |
Affordable rates |
Best Egg Perks and Bonuses
Flexibility:
Best Egg offers some flexibility, however there are limitations. For example, they do not currently allow refinancing of existing loans. Although Best Egg is not offering any rewards or discounts for their personal loans at this time they do offer payment assistance programs which can include deferring your payment or temporarily reducing your monthly payment or interest rate.
Transparency:
In terms of transparency, Best Egg’s website looks professional and is free of sales gimmicks and pop-up ads. They provide information in their online Help Center and FAQs page, however some specific loan term details are listed at the bottom of their site in fine print. And while Best Egg is BBB accredited their lending partners are not. There were 131 customer complaints against Best Egg on the BBB site in the last 3 years that have been closed, 60 complaints have been closed in the last 12 months.
Technology:
Customers can login to Best Egg’s Customer Service website to view their statements and loan progress, however a mobile app is currently not available for managing personal loans. You can pay your loan payments online, by phone, or by text. In addition, you have the option to sign up for autopay. Keep in mind, however, there is currently no discount for signing up for autopayments.
Best Egg Compared to Other Lenders
There are other online lenders with different loan terms, loan amounts, interest rates, minimum credit scores and co-signer requirements. You can compare these to Best Egg’s personal loan offers.
Lender |
Best Egg |
SoFi |
Upstart |
Loan Terms |
Depends on the loan amount, income, credit score, credit history and other debt obligations. Loans can be prepaid without penalty. 3 - 5 years for repayment |
Repayment periods between 2 - 7 years. No origination or prepayment fees. |
3 or 5 years. No prepayment penalty |
Loan Amount |
$2,000 - $50,000. Residents of certain states have higher minimum loan requirements |
$5,000 minimum in most states up to $100,000 |
Between $1,000 and $50,000. Minimum loan amounts vary by state |
Interest Rates |
5.99% – 35.99% |
As low as 5.74% APR will all discounts to 21.78% APR |
5.22% - 35.99%. Varies by state |
Min Credit Score |
Not Reported |
680 |
A consumer reporting agency must report |
your score is 300 or above |
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Co-Signer Requirement |
Not offered |
Not offered |
Not offered |
Final Thoughts
Best Egg offers personal loans for various purposes such as debt consolidation, major purchases, hospital expenses after giving birth, adoption fees, home improvement projects and credit card refinancing, among others. These loan products can be obtained relatively quickly and Best Egg has a good customer service rating.
According to Best Egg, about half of successful applicants have funds deposited into their accounts the next day. However, the loans do require payment of origination fees and there are no discounts for enrolling in autopay. Despite these limitations, Best Egg offers flexible loan options on quick timelines and with competitive rates to meet the needs for many different applications. Great customer service is a nice bonus for working with Best Egg to secure a personal loan. Best Egg is a good option for qualified individuals who need anywhere between $2,000 and $50,000 to finance a project, vacation, or moving expenses.
