LightStream offers high loan limits and relatively low APRs for borrowers with good credit, while Best Egg is a better option for borrowers who need lower loan amounts. Both lenders offer quick funding, although Best Egg personal loans may attract higher APRs.

MoneyGeek compared interest rates, repayment terms, loan limits and more to help you choose between Best Egg and LightStream personal loans. Our analysis includes up-to-date market data to help you make an informed choice. MoneyGeek is a trusted source when comparing the biggest personal loan lenders in the U.S.

Key Takeaways

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Best Egg and LightStream are top lenders in the U.S. offering personal loans for a variety of purposes, including home renovations, emergency expenses, large purchases and debt consolidation.

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Lenders charge varying interest rates and offer different loan limits and repayment terms. Comparing lenders is the best way to get the most favorable rates and terms for your personal loan.

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Individual factors like your credit score, average annual income and debt-to-income ratio will be used by lenders to assess your eligibility for a loan. Always check a lender’s minimum requirements to ensure that you are eligible for a loan before applying.

Best Egg or LightStream: Overview

Best Egg and LightStream both require borrowers to have good-to-excellent credit, although LightStream has a slightly lower minimum credit score requirement. LightStream’s loan limits are much higher than Best Egg’s so borrowers who need large sums may be better off with LightStream.

Best Egg’s APRs are higher on average when compared to LightStream’s rates. The lender also charges origination fees, which can add to the total cost of your loan. However, LightStream has restrictions on the usage of funds, so the best lender for you will depend on your specific situation.

Best Egg


  • Best Egg

    Ideal for home improvement loans


    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Best Egg

LightStream


  • LightStream

    High loan limits and quick funding for those with good credit


    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds

    LightStream

APR Range

Lender
APR Range

Best Egg

4.99% to 35.99%

LightStream

4.49% to 20.49%

If you have good-to-excellent credit, you can qualify for low APRs from both Best Egg and LightStream. However, LightStream has lower APRs on average, ranging from 4.49% to 20.49%. In contrast, Best Egg personal loans' APRs start at 4.99% and can be as high as 35.99%, depending on your creditworthiness. This means that most borrowers will receive better APRs from LightStream.

The annual percentage rate is an important factor when choosing a lender, since it refers to the interest and other fees that your loan will accrue. In essence, a higher APR translates to more expensive loan repayments.

APRs typically depend on individual factors like your credit score, loan limit and term. They may also vary depending on the prevailing prime rate.

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MONEYGEEK’S VERDICT

LightStream personal loans have a better APR range compared to Best Egg. LightStream's APR range is more favorable because the highest rate is 20.49%, while Best Egg’s rate can be as high as 35.99%.

A lower APR range means that you will pay less in interest for your loan, which will make it less costly to borrow. However, apart from APRs, it is also important to consider other factors when choosing a lender, including repayment terms, restrictions on usage of funds and minimum requirements.

Minimum Credit Score

Lender
Credit Score

Best Egg

700

LightStream

660

Both Best Egg and LightStream require borrowers to have good-to-excellent credit, but LightStream has a slightly lower minimum requirement of 660. Best Egg requires borrowers to have a minimum credit score of 700 to qualify for a loan.

When applying for a personal loan, one of the factors that lenders use to qualify you is your credit score. Your credit score is a numerical rating that represents your creditworthiness or ability to repay a loan. Your credit score is typically calculated based on factors like your payment history, amounts owed and length of credit history. A high credit score implies better creditworthiness.

Having a good credit score is an advantage when borrowing a personal loan since it will impact factors such as your APRs and the amount you can borrow. On average, borrowers with excellent credit scores will qualify for the lowest APRs, while those with lower scores will have to pay higher rates.

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MONEYGEEK’S VERDICT

You need a good credit score to qualify for both LightStream and Best Egg personal loans. However, LightStream accepts borrowers with a credit score of 660, while Best Egg requires you to have a minimum credit score of 700.

A low credit score will impact your APRs negatively. For instance, LightStream APRs range from 4.49% to 20.49%, but only borrowers with high credit scores qualify for the lowest rates. This means loans typically cost more for borrowers with lower credit scores.

On average, choosing a lender with a low credit score can be better, but keep in mind that other factors like loan limits and repayment terms are also important.

Loan Amount Range

Lender
Loan Amount Range

Best Egg

$2,000 to $50,000

LightStream

$5,000 to $100,000

LightStream offers personal loans with limits ranging from $5,000 to $100,000, while Best Egg loans range from $2,000 to $50,000. This makes LightStream ideal if you need a loan to fund large expenses since you can borrow as much as $100,000. However, for those who require smaller amounts, Best Egg allows you to borrow as little as $2,000.

When choosing a lender, loan limits are an important consideration since it will determine whether the loan will suit your needs. For instance, the minimum you can borrow from LightStream is $5,000, but it may not be the best option if you need to borrow small amounts.

It is important to keep in mind that while lenders have certain maximum limits, individual factors like your credit score will also be a factor in how much you can borrow.

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MONEYGEEK’S VERDICT

LightStream offers more flexible loan limits, ranging from $5,000 to $100,000. However, the best limits for you will depend on your individual needs and the purpose of the loan. If you need a loan for small expenses, Best Egg, which has a lower loan limit, may be the best option.

Keep in mind that loan limits are only one factor when choosing a lender. It is also important to consider repayment terms, minimum requirements, APRs and other factors to get the best lender for your profile and needs.

Repayment Terms

Lender
Repayment Terms

Best Egg

36 to 60 months

LightStream

24 to 84 months

A repayment term refers to the length of time over which you can repay your loan. When comparing LightStream vs. Best Egg, LightStream offers more flexible repayment terms, ranging from 24 to 84 months, compared to Best Egg’s 36 to 60 months. This means, with a LightStream loan, you can repay your loan over a longer period.

LightStream also offers a shorter minimum repayment period of 24 months compared to Best Egg’s 36 months. This means that if you want to pay off your loan quickly, you can take advantage of LightStream’s shorter minimum repayment term.

Lenders will specify their minimum and maximum repayment terms, but the terms available to you will also depend on individual factors like your credit score and loan amount.

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MONEYGEEK’S VERDICT

LightStream has more flexible repayment terms compared to Best Egg since it offers longer repayment periods.

If you want smaller monthly payments, you would be better off with a longer repayment term, but keep in mind that this may mean higher APRs. Shorter repayment lengths may mean higher monthly payments, but you will be able to pay off your loan faster and get better APRs.

While repayment lengths are important, other factors like APR range, loan limits and credit score requirements should also guide you when shopping for personal loans.

Time to Receive Funds

Lender
Time to Receive Funds

Best Egg

Next day

LightStream

Same day

If you need funds urgently, both LightStream and Best Egg offer quick funding. However, LightStream may be slightly better since it offers same-day funding, while Best Egg offers next-day funding. Truly though, there is no significant difference between LightStream and Best Egg personal loans disbursement periods.

Although lenders advertise their typical disbursement time, there are other factors that may affect how quickly you receive your funds. For instance, in most cases, you will receive funds quicker if you apply online rather than in person. Also, keep in mind that providing all the required documentation and information will make it easier for you to get your funds faster.

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MONEYGEEK’S VERDICT

LightStream is generally faster than Best Egg when it comes to disbursing funds. If you apply for a LightStream loan on a banking business day, you can receive your funds as quickly as the same day. Best Egg also disburses funds fairly quickly with next-day funding for most loans.

Funding time can be an important factor when choosing a lender, especially if you need a loan for emergency expenses. However, also look into other factors, such as APRs and minimum requirements, before choosing a lender.

Final Thoughts

When comparing Best Egg vs. LightStream, the best lender for you will ultimately depend on individual factors like how much you need to borrow, preferred repayment lengths and your credit score.

LightStream will be a better option for borrowers who need to borrow high loan limits since the maximum you can borrow is $100,000. Best Egg only offers loan limits of up to $50,000. LightStream may also be a better option if you are looking for low-cost loans since it has lower APRs compared to Best Egg.

Best Egg is a good option for borrowers who need to borrow small amounts since loan limits start at as little as $2,000. Best Egg may also be a better option if you need a personal loan for refinancing since LightStream restricts the usage of funds for refinancing and postsecondary education.

Overall, LightStream and Best Egg both offer quick funding for borrowers with good-to-excellent credit so the choice will come down to which loan limits, repayment terms and APRs are most favorable for you.

Frequently Asked Questions About Personal Loan Lenders

MoneyGeek answered frequently asked questions to help you compare Best Egg vs. LightStream personal loans.

sources
  • Best Egg. "Personal Loans." Accessed September 20, 2022.
  • LightStream. "FAQ." Accessed September 20, 2022.
  • LightStream. "Personal Loans." Accessed September 20, 2022.

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.