Best Egg Personal Loan Lender Review

Updated: December 21, 2023

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Best Egg stands out for its quick funding and ease of online application, making it an excellent choice for borrowers needing funds fast and with minimal hassle. With loans up to $50,000 and a focus on providing financial health resources, it particularly suits borrowers with good credit and higher incomes. However, its origination fee and lack of a mobile app may be drawbacks for some. Best suited for financially savvy individuals and those valuing strong customer service, Best Egg offers a reliable and user-friendly loan experience.

  • Best Egg

    • 8.99% to 35.99%APR Range
    • UndisclosedMinimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    At Best Egg, the combination of borrower-friendly features and strong customer satisfaction ratings makes it a standout choice for personal loans. The ease and speed of Best Egg's process are major pluses. You can check your loan rate quickly without affecting your credit score. This accessibility lets you explore your options freely and without stress. For many borrowers, the need for a loan is time-sensitive. Best Egg understands this urgency and offers funding as quickly as the next day.

    What really seals the deal is Best Egg's commitment to its customers, as evidenced by its A+ rating from the Better Business Bureau. This accolade reflects Best Egg's consistent, quality service and the trust it has built with borrowers.

    Other customer-focused features include the absence of prepayment fees for early repayment and the availability of financial health tools and resources. These demonstrate Best Egg's dedication to providing loans and supporting borrowers' overall financial well-being.


    • No prepayment fees for early repayment
    • Quick application process online
    • Fast funding, often next-day
    • Strong customer service record
    • Offers financial health tools and resources


    • Not available in three states and the District of Columbia
    • Charges origination and returned payment fees
    • High minimum credit score and income requirement for lowest APR
    Best Egg

Features of Best Egg Personal Loans

Best Egg offers personal loans tailored to meet different needs. You can use them for various purposes like debt consolidation, home improvements or unexpected expenses.

When considering personal loan lenders, explore factors like fees, loan terms and repayment options. Best Egg has a straightforward fee structure with no hidden charges. Loan terms are flexible, allowing you to choose the best for your financial situation. It also provides helpful customer service and easy-to-use online tools, making managing your loan simple. Familiarizing yourself with these qualities is the first step to making an informed decision about your personal loan lender.

What Can You Use Your Funds For?

Learning how you can use funds from a Best Egg personal loan is helpful since some lenders limit how you can spend your loan. This lender offers flexibility for various personal needs, except for specific exclusions like educational expenses, securities and illegal activities. Here are examples of how you can use your loan funds:

  • Debt Consolidation: Simplify your finances by merging several debts into one loan with Best Egg, which could lead to lower interest rates and a single monthly payment. That makes it easier to manage and potentially reduces overall debt faster.

  • Credit Card Refinancing: Use Best Egg loans to pay off high-interest credit card balances. This process can lower interest rates, helping you save money over time and streamline monthly payments.

  • Home Improvement: Whether it's for necessary repairs or desired upgrades, Best Egg personal loans can finance your home improvement projects without tapping into your home equity.

  • Medical Expenses: Spend your loan on unexpected or costly medical bills your health insurance doesn't cover. A loan can provide relief in times of health-related financial stress.

  • Relocating: Best Egg loans help cover costs like hiring movers, transportation and other relocation-related expenses, easing the financial burden of a move.

  • Vacation: Plan and pay for a holiday without depleting savings. A personal loan can help cover travel, accommodation and other vacation expenses, making memorable experiences more accessible.

  • Taxes: If you're facing a large tax bill, Best Egg can provide funds to cover it, helping you avoid penalties or payment plans with higher interest rates.

  • Major Purchases: For big purchases like electronics, furniture or appliances, a Best Egg loan can offer a responsible financing option, helping you make significant acquisitions without financial strain.

Choosing Best Egg for these purposes means you can responsibly handle life's expenses and opportunities, aligning your financial decisions with your personal goals.

Best Egg Personal Loan Terms

Understanding the terms of a Best Egg personal loan can help you make more informed financial decisions. By knowing the range of loan amounts, repayment terms and APRs (Annual Percentage Rates), you can plan your finances better and choose a loan that suits your needs. Here are the main details to know:

  • Loan Amounts: With Best Egg, you can borrow between $2,000 and $50,000. However, the minimum loan amount varies in some states: $6,500 in Massachusetts, $5,001 in Ohio and $3,001 in Georgia. The flexibility allows you to borrow just what you need, whether it’s for a small project or a significant expense.

  • APR Ranges: Best Egg’s personal loans have a wide APR range, though its upper limit is relatively high at 35.99%. A lower figure means less interest over the life of the loan, making it more affordable.

  • Repayment Terms: Best Egg offers loan terms from 36 months (three years) to 60 months (five years). Longer terms usually mean smaller monthly payments but more interest over time. Shorter terms increase monthly payments but reduce the total interest paid. Choose a term that balances your monthly budget with overall interest costs.

Whether you need to borrow a small or large amount, find an affordable interest rate or select a repayment term that matches your budget, grasping your loan terms is the first step to managing it wisely.

Best Egg Personal Loan Fees

Best Egg is transparent about its fees, making it easier for you to plan your finances. For example, it does not charge prepayment fees. That means you can save on future interest without penalties if you pay off your loan early.

However, there are other fees to be aware of:

  • Origination Fee: This one-time fee is included in your loan amount and ranges from 0.99% to 8.99%. Best Egg deducts this from the amount deposited into your bank account. For example, if you borrow $10,000 with a 5% origination fee, you'll receive $9,500.

  • Returned Payment Fee: If a payment is returned due to insufficient funds or other reasons, a $15 fee applies. Ensure your bank account has sufficient funds for your loan payments to avoid these charges.

Awareness of these fees helps you avoid unexpected costs with your Best Egg personal loan.

Best Egg Personal Loan Repayment Assistance

When you take a personal loan, knowing what support is available if you face financial challenges is forward-thinking. Best Egg offers assistance to help you stay on track with your payments, which enables you to maintain a good credit score and avoid late fees.

If you're struggling with repayments, Best Egg provides several ways to get help:

Best Egg Account Portal

Visit here via Best Egg's website to discover your available options. It's a quick way to get information tailored to your situation.

Chat Support

Talk to a loan specialist through the portal for guidance. Their schedule is as follows:

  • Monday to Thursday from 8 a.m. to 9 p.m. ET
  • Friday from 8 a.m. to 7 p.m. ET
  • Saturday from 9 a.m. to 6 p.m. ET

If you prefer talking to someone, call customer service at (855) 282-6353. This option is especially useful if you have automatic payments and a payment is due soon. They're available on the following schedule:

  • Monday to Thursday from 8 a.m. to 10 p.m. ET
  • Friday from 8 a.m. to 8 p.m. ET
  • Saturday from 9 a.m. to 6 p.m. ET

Knowing these options ensures you have support during tough financial times, making your loan management smoother and less stressful.

Best Egg Customer Service

Choosing a personal loan provider with excellent customer service gives you straightforward access to support whenever needed. Best Egg has earned a high Trustpilot rating of 4.6 out of 5. This score reflects its commitment to customer satisfaction, with 88% of reviews giving them five stars.

True to its service record, Best Egg offers multiple ways to assist you throughout your loan journey. For example, if you need immediate assistance or prefer speaking with a representative directly, you can reach Best Egg at (855) 282-6353 from Monday to Saturday during business hours. For customers who prefer written communication, Best Egg also offers email support. Just send your inquiries or concerns to This option is helpful if you’re unable to call during working hours.

Another way Best Egg helps its customers is through the flexibility in payment schedules. It allows you to adjust your loan due dates. You can do this over the phone, through chat, online or by email, adding a layer of convenience to your loan management.

Best Egg Personal Loan Online Resources

Best Egg offers a range of online tools designed to support your overall financial wellness. You unlock a suite of financial literacy tools by signing up for free. These resources help you manage spending, saving and debt more effectively. You'll get free updates on your credit score and monitoring alerts, providing valuable insights into your financial standing. These personalized financial insights from Best Egg can guide you in making smarter financial choices.

Additionally, Best Egg's library has articles covering various financial topics. For personal loan borrowers, there are specific articles on comparing personal loans with credit cards for debt consolidation, understanding how a Best Egg personal loan impacts your credit score and the ins and outs of refinancing a personal loan.

These resources are more than just helpful extras — they're an integral tool for maintaining and improving your financial health while navigating your personal loan journey with Best Egg.

Qualifying for a Best Egg Personal Loan

Knowing what Best Egg looks for when assessing your eligibility for a personal loan helps you understand whether you fit its criteria and what you need to prepare before applying. This approach can increase your chances of getting your loan approved.

To be eligible for a Best Egg personal loan, you need to meet the following criteria:

  • U.S. Citizenship or Permanent Residency: You need to be a U.S. citizen or a permanent resident currently living in the U.S.
  • Legal Age Requirement: You must be of your state's age of majority.
  • Personal Checking Account: You need a personal checking account that Best Egg can verify. You must also provide a routing number.
  • Valid Email and Physical Address: You need a valid email and a physical address (PO Boxes are not accepted).

Note that Best Egg personal loans aren't available to residents of Iowa, Vermont, West Virginia, the District of Columbia and U.S. Territories, so your location matters.

When it comes to financial qualifications, Best Egg looks beyond just your credit score, believing that one number shouldn't define your future. However, to qualify for the lowest APR, you need a minimum FICO® score of 700 and an individual annual income of at least $100,000. While co-signers or co-applicants can be helpful in some scenarios, note that Best Egg currently only offers individual loans. This requirement means you'll need to qualify based on your own creditworthiness and financial health.

Is a Best Egg Personal Loan Right for You?

Deciding if a Best Egg personal loan is right for you is an important step — it’ll impact your finances now and in the future. By assessing if it meets your needs, you ensure your loan aligns with your financial goals and situation. Consider Best Egg’s loan terms, fees, customer service and eligibility requirements.

Making an informed decision helps avoid stress and financial strain later. Consider what you need from a loan and see if Best Egg’s offerings match those needs. That way, you can be confident in your choice and manage your finances wisely.

Who Can Benefit From a Best Egg Personal Loan?

Individuals in urgent need of funds may benefit from Best Egg's quick funding — often providing money as soon as the next day. That makes it an excellent option for borrowers facing immediate expenses or opportunities that can't wait. Borrowers with good credit scores, particularly those with a FICO® score of 700 or higher, are more likely to access Best Egg's competitive terms.

Financially savvy borrowers will also find value in Best Egg's offerings. Best Egg provides various financial health tools and resources alongside its loan services. These can be useful for anyone looking to make informed financial decisions or improve their financial literacy.

Moreover, Best Egg is a solid choice for customers who prioritize customer service. Its high customer satisfaction ratings and responsive support team indicate a commitment to helping borrowers through their financial journey.

Who Shouldn’t Secure a Best Egg Personal Loan?

Residents of Iowa, Vermont, West Virginia, the District of Columbia and U.S. Territories should look elsewhere, as Best Egg does not offer loans in these areas. This geographical limitation is a key factor to consider before starting the application process.

Additionally, borrowers keen on avoiding fees should note that Best Egg personal loans charge an origination fee, which it deducts from the loan amount, and a $15 returned payment fee in certain scenarios. If minimizing additional costs is a priority, exploring other lenders that don't impose these fees might be a better option.

Lastly, borrowers who prefer in-person transactions may find Best Egg's predominantly online-based service less appealing. The lack of physical branches means most interactions occur digitally, which might not sit well with customers who favor face-to-face interactions for their financial dealings.

How to Apply for a Best Egg Personal Loan

Applying for a Best Egg personal loan is a process that benefits from your understanding and preparation. Knowing the steps involved helps you gather the correct information and manage your time efficiently, ensuring a smooth and stress-free application experience. Here’s what to expect:

Assess Your Loan Needs

Begin by evaluating your financial situation. Consider your budget, read reviews about Best Egg and understand the different types of loans it offers. The initial assessment helps you choose the loan that best fits your needs.

Prepare Your Information

Before starting the application, gather essential details like your financial information, email address and phone number. Having these handy speeds up the application process.

Complete the Online Application

To apply, click on the 'Apply Now' button found in the top right corner of Best Egg's website. The application is quick and user-friendly. You'll need to provide basic personal and financial details. Checking your rates is a simple process that only takes a few minutes and does not affect your credit score.

Review Loan Offers

After submitting your application, you'll receive loan offers within minutes. Review and choose the offer that aligns with your financial goals.

Loan Verification and Fund Disbursement

Once you accept an offer, Best Egg will verify your information. After successful verification, the loan amount is usually deposited into your bank account within one to three business days. About half of Best Egg customers receive their funds the next day.

By following these steps, you can efficiently navigate the application process for a Best Egg personal loan. Preparation ensures you can access the funds you need with clarity and confidence.

What to Do if You’re Denied

Facing a loan denial from Best Egg can be disappointing, but it's not the end of your financial journey. You can take several steps to understand and overcome this setback.

  • Understand the Reasons for Denial: First, assess why Best Egg denied your application. The lender will provide an explanation, which could range from credit score issues to insufficient income. Understanding the specific reasons helps you address these areas effectively.

  • Boost Your Financial Profile: Improve the factors contributing to your denial. These may involve paying down existing debts to lower your debt-to-income ratio, improving your credit score by making timely payments or even increasing your income through additional work or a new job.

  • Look for Alternative Financing Options: If Best Egg isn't a match for you, explore other lenders. Each has different criteria, and some might be more suited to your financial situation. Consider credit unions, other online lenders or traditional banks. These institutions might offer products more aligned with your financial profile.

  • Seek Professional Financial Advice: Sometimes, guidance from a financial advisor can be invaluable. They can offer personalized advice on improving your creditworthiness and may suggest alternative strategies for financing your needs.

A loan denial isn't a permanent roadblock. By understanding the reasons behind it, working on your financial health, exploring other lending options, and possibly seeking professional advice, you can better position yourself for future financial success. Remember, each step you take to improve your financial situation brings you closer to achieving your goals.

FAQ About Best Egg as a Personal Loan Lender

We answered some common queries to help you decide whether Best Egg is the right choice for your financial needs.

Does Best Egg have restrictions on how you can use your funds from a personal loan?
What is the minimum credit score requirement for a Best Egg personal loan?
How long does Best Egg take to approve a personal loan?
Does Best Egg have a mobile app?
Is a Best Egg personal loan secured or unsecured?
How much can I borrow using a Best Egg personal loan?
What fees will I encounter with a Best Egg personal loan?
How does applying for a Best Egg personal loan affect my credit score?
Does Best Egg offer an autopay discount for personal loans?
Can you have co-signers on a Best Egg personal loan?

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.