Best Egg Loans

Online Loans

Loans

Best Egg Loans

APPLY NOW

Easy to apply

4.0/5

Approval time

5.0/5

No hidden condition

5.0/5

Renewal rules

4.0/5

Service quality

5.0/5

Customer support

4.0/5

Borrower requirements

You must be 18+
Valid U.S. residential address
Stable and sufficient income
Min. Credit Score 600

Optional

Valid U.S. bank account

Contact information

Phone number: (855) 282-6353

Email: [email protected]

Shedule
Mon-Thurs: 8am-10pm ET,
Fri: 8am-8pm ET,
Sat: 9am-6pm ET

Mon

Tue

Wed

Thu

Fri

Best Egg, founded in 2014, is a reputable online lending platform that provides personal loans to help individuals achieve their financial goals. Best Egg has quickly become a trusted name in the lending industry, offering competitive rates and a streamlined application process.

Types of Loans Offered by Best Egg

Personal Loans:

Best Egg specializes in unsecured personal loans, which can be used for various purposes, including debt consolidation, home improvements, medical expenses, major purchases, and more. Loan amounts range from $2,000 to $50,000, providing flexibility to meet different financial needs.

Debt Consolidation Loans:

Best Egg offers loans specifically for consolidating high-interest debt into a single, lower-interest payment. This can simplify your finances and potentially save you money on interest over time.

Where Does Best Egg Operate?

Best Egg accepts loan applications from U.S. citizens and permanent residents of legal age in 47 states. Residents of Iowa, Vermont, West Virginia, Washington, D.C., and U.S. territories are not eligible. There are minimum loan amounts depending on the state: $6,500 in Massachusetts, $5,000 in Ohio, and $3,000 in Georgia.

Loan Terms and Conditions

Loan parameters

Loan Amount

$2,000 - $50,000
APR

8.99%-35.99%
Term

36 to 60 months
Min. Credit Score

600
Time to receive funds

1-3 business days

Borrower Requirements for Best Egg Personal Loans

Age: Must be of legal age in your state.
Citizenship: Must be a U.S. citizen or permanent resident.
Income:
- No specific minimum gross monthly income is disclosed.
- Best rates are typically reserved for those with an annual income of $100,000 or more.
Credit History:
- Minimum FICO credit score of 640 generally required.
- Best rates for applicants with a FICO score of at least 700.
Debt-to-Income (DTI) Ratio: Evaluated during the application process.
Proof of Income: May be required to provide a pay stub or similar documentation.
Proof of Address: May need to submit a utility bill or similar document.
Residency:
- Loans available in 47 states.
- Not available to residents of Iowa, Vermont, West Virginia, Washington, D.C., and U.S. territories.
- Minimum loan amounts: $6,500 in Massachusetts, $5,000 in Ohio, and $3,000 in Georgia.

How to Apply for a Best Egg Loan

Check Your Rate:

Start by checking your rate online or over the phone with a soft credit inquiry that won’t affect your credit score. Best Egg will provide a preapproval letter if you qualify.

Submit the Application:

If you’re satisfied with the preapproved rate and terms, proceed to the formal loan application. You’ll need to provide personal and financial information during this step.

Required Documentation:

You may be asked to submit proof of income (e.g., pay stubs) and proof of address (e.g., a utility bill).

Loan Approval and Funding:

Online applications can be approved within minutes. Once approved, Best Egg may be able to disburse your loan funds within one business day.

Why Best Egg is the Best Choice?

Best Egg stands out as a leading provider of personal loans, offering competitive rates, flexible terms, and a streamlined application process. Here’s why Best Egg is an excellent choice for borrowers:

Aspect	Why Best Egg is the Best Choice
Competitive Interest Rates	Best Egg offers competitive fixed interest rates, making it affordable for qualified borrowers.
Flexible Loan Amounts	Loan amounts range from $2,000 to $50,000, catering to various financial needs.
Quick Funding	Funds can be disbursed as soon as the next business day after approval.
No Prepayment Penalties	Allows borrowers to pay off loans early without incurring additional fees.
Easy Online Application	The application process is entirely online and can be completed in minutes.
Debt Consolidation Options	Specializes in loans for consolidating high-interest debt into a single, manageable payment.

Pros and Cons of Best Egg Loans

Pros

Competitive Interest Rates
Offers competitive fixed rates for qualified borrowers.
Flexible Loan Amounts
Loan amounts from $2,000 to $50,000.
Quick Funding
Funds can be received as soon as the next business day.
Allows early repayment without extra fees.
Simple Online Application Process
Easy and quick online application.
Debt Consolidation Benefits
Ideal for consolidating high-interest debts.

Cons

Origination Fees
Charges origination fees ranging from 0.99% to 8.99%.
Minimum Loan Amounts in Some States
Minimum loan amounts: $6,500 in MA, $5,000 in OH, and $3,000 in GA.
High Rates for Lower Credit Scores
Higher interest rates for borrowers with lower credit scores.
Not available to residents of IA, VT, WV, D.C., and U.S. territories.
Income Requirements for Best Rates
Best rates reserved for those with $100,000+ annual income.

Best Egg Loans FAQs

What is Best Egg?

Best Egg is an online lending platform that provides personal loans designed to help individuals achieve their financial goals. Founded in 2014, Best Egg offers competitive rates and a straightforward application process, making it a popular choice for personal loans

What Credit Score Do You Need?

Best Egg generally requires a minimum credit score of 640 for loan approval. However, applicants with a FICO score of 700 or higher and an annual income of at least $100,000 may qualify for the lender’s best APR. The initial preapproval process involves a soft credit check, which does not impact your credit score. A hard credit check is only performed once you accept the loan.

What types of loans does Best Egg offer?

Best Egg specializes in unsecured personal loans. These loans can be used for various purposes, including debt consolidation, home improvements, medical expenses, and significant purchases. Loan amounts range from $2,000 to $50,000.

How long does it take to receive the funds?

Once your loan is approved and you have signed the loan agreement, funds can be deposited into your bank account as soon as the next business day. The exact timing depends on your bank’s processing times.

Can I pay off my loan early?

Yes, Best Egg allows borrowers to pay off their loans early without any prepayment penalties. This feature can save you money on interest if you can repay your loan ahead of schedule.

Are there any fees associated with Best Egg loans?

Best Egg charges an origination fee that ranges from 0.99% to 8.99% of the loan amount. This fee is deducted from your loan proceeds. There are no hidden fees, and the origination fee is clearly disclosed during the application process.

Where does Best Egg operate?

Best Egg accepts loan applications from U.S. citizens and permanent residents of legal age in 47 states. Residents of Iowa, Vermont, West Virginia, Washington, D.C., and U.S. territories are not eligible. Additionally, there are minimum loan amounts for certain states: $6,500 in Massachusetts, $5,000 in Ohio, and $3,000 in Georgia.

What can I use a Best Egg loan for?

Best Egg personal loans can be used for a variety of purposes, including:

Debt consolidation
Home improvements
Medical expenses
Major purchases
Unexpected expenses

However, loans cannot be used for education expenses or illegal activities.

How does the debt consolidation process work with Best Egg?

Best Egg specializes in debt consolidation loans, which allow you to combine multiple high-interest debts into a single loan with a potentially lower interest rate. This can simplify your finances and help you save on interest over time. When applying for a debt consolidation loan, you may need to provide details about the debts you wish to consolidate.