Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Aug 3, 2021

Advertiser Disclosure

Advertiser Disclosure: We strive to help you make confident loan decisions. Comparison shopping should be easy. We are not affiliated with any one loan provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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Company Details
Address: 1523 Concord Pike, Suite 201
City: Wilmington
State: DE
ZIP Code: 19803
Phone Number: (855) 282-6353
Website: www.bestegg.com
Year Founded: 2014
AM Best Rating:
Company Rating 0 (0 reviews)

If you’re looking for a personal loan, it can be overwhelming to research the many different companies and online lenders. Interest rates aren’t the only thing borrowers have to think about. Some loans start out with a low rate that then increases later on. Your monthly payments, late fees, if you can pay the loan off early, and more are all important considerations. Comparing all your options side by side could take hours, and that’s if you just want one loan.

Our Best Egg company review will discuss the company and its personal loan options below. You can see if Best Egg’s company structure makes sense for you before you even apply.

Before you start this Best Egg company review, enter your ZIP code into our free quote comparison tool above to find a lender that is right for you today.

What loan products does Best Egg offer?

Best Egg provides personal loans for various needs, including debt consolidation, credit card refinancing, home improvements, moving expenses, big purchases, travel, special occasions, and baby or adoption expenses. Applications can be completed online with a simple application.

Depending on the loan, you can get a rate in minutes with a soft credit inquiry. Final loan approval will be based on a hard credit pull.

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What are the pros of using Best Egg loans?

Best Egg loans come with a few positive notes, including the following:

The minimum loan amount is $2,000.

If you need to take out a personal loan for a relatively small purchase, Best Egg makes it possible to take out just what you need with small loans of $2,000. Loan amounts also go up to $35,000, giving you an excellent range. Of course, underwriters will decide on the exact amount based on your individual income and qualifications.

Low rates are available for those with good credit.

The average annual percentage rate (APR) from Best Egg is 14 percent. However, if you have a credit score of over 700 and an income of at least $100,000, you could qualify for Best Egg’s lowest rate of 5.99 percent. You may also still qualify for rates as low as 10 percent. Even for people with less than perfect credit, interest rates and repayment terms are pretty reasonable.

The funding process is quick.

After filling out an application on Best Egg’s website, you should know immediately if the company will offer you a loan. After you’re approved, you will likely receive funds within two to three days.

Best Egg offers both secured and unsecured loans.

Getting a secured loan may help reduce your APR, but you may also opt to have an unsecured loan. If your loan is secured, Best Egg will secure the loan with a permanent fixture in your home, such as a water heater.

You have access to your credit score.

Best Egg customers can choose to opt-in to view their credit score for free through Best Egg. If there are any inaccuracies, you can address them now. If you’ve been denied on other loans, you can also see why.

What are the cons of using Best Egg loans?

Best Egg loans also come with a few drawbacks, such as the following:

Best Egg charges origination and late fees.

An origination fee from Best Egg ranges between 0.99 and 5.99 percent, while late fees are $15.

There is limited choice for the loan term.

When you get a Best Egg loan, the only choices for term lengths are three years and five years. You can not customize the term length to affect the interest or monthly payments.

Credit requirements are strict.

Compared to other online lenders, Best Egg has strict credit requirements. The minimum credit score for qualification is 600, but borrowers average excellent credit ratings over 700. There is no minimum requirement for income, but borrowers average $80,000.

Co-signers and joint loans are not allowed.

Best Egg does not give the option of having a co-signer or applying for a joint loan. Co-signers are helpful for those who have slightly worse than average credit. They can also help borrowers with good credit and lower income levels.

Best Egg doesn’t send direct consolidation payments.

If you are consolidating debt with a Best Egg loan, Best Egg does not send payments to your creditors. Instead, you will still have to keep track of your repayment.

You can’t get a discount for autopayments.

Many online lenders have discounts for members who set up autopayments. However, Best Egg is not one of them.

What Else Should You Know about Best Egg?

Best Egg was founded in 2014 and is funded by Marlette Funding LLC. Best Egg is an online platform that offers fast personal loans to those who have an income but want access to more money.

Best Egg has funded over $11 billion through over 630,000 loans. Best Egg has an A+ rating from the BBB, and Best Egg reviews give it almost five stars (a rarity on the BBB website).

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How can I contact Best Egg?

Best Egg’s website is www.bestegg.com. Its customer service phone number is (855) 282-6353. The company is located at 1523 Concord Pike, Suite 201, Wilmington, DE 19803.

You can also use your Best Egg login to manage your account.

Should I get a Best Egg loan?

Best Egg loans may be a good idea for those with good credit. If you have a credit score in the 700s, you may qualify for lower interest rates, which may benefit you for consolidation purposes.

In addition to a good credit score, you must also have at least three years of credit history, a 40 percent debt-to-income ratio (or 65 percent if you have a mortgage), and proof of income.

Best Egg is a good option for those who are already in an ideal financial situation, prioritize their finances and financial education, and prove that they can pay back their debt.

Now that you’ve finished this Best Egg company review, if you need help finding an affordable lender, enter your ZIP code below to compare loan rates for free today.