Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.
Updated on Thursday, June 20, 2019
Minimum Credit Score
36 or 60
0.99% - 6.99%
People looking for a process that is fast and straightforward can’t go wrong when applying through Best Egg for a personal loan. ... Read More
The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 5.99% to 29.99%, which may include an origination fee from 0.99% - 6.99% that is deducted from loan proceeds. Any origination fee on a loan term 4-years or longer will be at least 4.99%. The loan term and the APR offered will depend on your credit score, income, debt payment obligations, loan amount, credit usage history and other factors. Additionally, the APR offered is impacted by your loan term and may be higher than our lowest advertised rate. Requests for the highest loan amount may result in an APR higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest rate.
Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. Equal Housing Lender. "Best Egg" is a trademark of Marlette Funding, LLC. All uses of "Best Egg" on this site mean and shall refer to "the Best Egg personal loan" and/or "Best Egg on behalf of Cross River Bank, as originator of the Best Egg personal loan," as applicable. Loan amounts generally range from $2,000-$35,000. Offers up to $50,000 may be available. Residents of Massachusetts have a minimum loan amount of $6,500; New Mexico and Ohio, $5,000; and Georgia, $3,000. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $50,000. Borrowers should refer to their loan agreement for specific terms and conditions. Your verifiable income must support your ability to repay your loan. Upon loan funding, the timing of available funds may vary depending upon your bank's policies.
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
Fees and penalties
Some lending platforms will only allow you to take out one loan at a time — Best Egg is not one of them. You can have two loans from Best Egg at a time, though if you’re thinking of taking out a second, make sure your first loan is at least six months old and that you haven’t missed payments. The total amount of your combined loans must be $50,000 or less.
- Minimum credit score: 640
- Minimum credit history: Not specified.
- Maximum debt-to-income ratio: 40%
Best Egg gives qualified U.S. residents its best rates when they have a credit score of 700 or higher and an income of $100,000 or more.
Applying for a personal loan from Best Egg
When you fill out Best Egg’s online application — providing information on your housing, income and employment — you’re actually applying for pre-approval. Filling out this application generally takes only a few minutes.
After you’ve filled it out, you’ll be given a loan offer if you qualify. If you’re happy with the rate and terms, you can accept and provide any additional paperwork Best Egg may request or require. Depending on your bank, you’ll be able to get your loan funded in about one to three business days.
Who’s the best fit for a Best Egg personal loan
If you meet the income and credit requirements, Best Egg may be a good option, especially if you need to get your hands on money quickly. The online lending platform doesn’t charge a prepayment penalty for repaying your loan early, either. That means Best Egg can be a great option for borrowers who need to access emergency funds but who plan to pay off their loan early to minimize costs.
If you meet Best Egg’s credit requirements, however, be sure to shop around. There are lenders in the marketplace who offer prime borrowers better rates and don’t charge origination fees. Depending on your personal situation, that doesn’t mean Best Egg won’t make you your best offer; it just means you should do your due diligence in case they don’t.
Best Egg consumer reviews
Looking at a company’s customer reviews and rating on the Better Business Bureau (BBB) is one of the best ways to assess client satisfaction, as well as the legitimacy of the business. One major upside to Best Egg is that they have an A+ rating with the BBB and they’re accredited with the BBB. Plus, there are over 2,200 customer reviews that have an average 5-star rating.
On LendingTree’s website (Disclosure: LendingTree is the parent company of MagnifyMoney), there are over 350 reviews for Best Egg. These reviews have an average of 4.8 out of 5 stars for customer satisfaction, as well as a 96% recommendation rate.
Overall, the reviews for Best Egg on LendingTree tout great customer service, a simple and streamlined process for obtaining a loan, and fairly quick access to loan funds:
“This is exactly the experience I was hoping for — quick, easy, straightforward — no need for a ton of back and forth with anyone,” wrote Nadia from Bell, Calif. “Highly recommend!”
Kelley from Morganton, N.C., was pleased with Best Egg’s offers for a debt consolidation loan. “The application process was simple and I was able to navigate the submissions easily,” she wrote. “My rate was better than any other loan offers, which made my monthly payment well within my means to get rid of credit card debt. And the funds were in my account within 48 hours!”
Although the customer reviews for Best Egg are primarily positive, there are a handful of negative reviews, which cited high fees and confusion surrounding loan rejection despite a good credit score.
Best Egg FAQ
According to Best Egg, around half of customers will have access to their loan within one business day. Most loans get funded within one to three business days.
However you see fit! Best Egg loans can be taken out for everything from credit card consolidation to loans for home improvement and major purchases (like weddings).
For most consumers, the maximum loan amount is $35,000. Some customers, however, will be able to qualify for a maximum loan amount of $50,000. (The minimum loan amount is $2,000.)
Yes. To receive your best rate, you’ll need a minimum credit score of 640.
In order to apply for a personal loan with Best Egg, you need to: be a U.S. citizen or permanent resident; be of legal age to accept the loan in the state you live in; have a personal bank account with a routing number; have a valid email address; and have a physical mailing address.
APRs for Best Egg loans range from 5.99% to 29.99%, and loans come with an origination fee between 0.99% - 6.99%. Five-year loans will have an origination fee of at least 4.99%.
Yes. Best Egg allows customers to have two loans at one time so long as the total between the two loans doesn’t exceed $50,000 and the first loan has been open for at least six months.
Best Egg loans are unsecured personal loans, which means nothing is put up as collateral.
Depending on the loan terms, you could need a minimum annual income of $100,000 to qualify for a Best Egg loan.
Yes, as there are different loan requirements for a few states. In Massachusetts, the minimum loan amount is $6,500; in New Mexico and Ohio, the minimum loan amount is $5,000; and in Georgia, the minimum loan amount is $3,000.
Alternative personal loan options
Minimum Credit Score
36 or 60
2.90% - 8.00%
Upgrade is an online lender that offers fairly priced personal loans for a term of either 36 or 60 months.... Read More
Personal loans made through Upgrade feature APRs of 7.99%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/.
Upgrade offers a similar product to Best Egg, except their maximum APR is much higher and their minimum credit score requirements much lower. This means that you’re likely to have an easier time getting approved for a loan from Upgrade, but that your interest rate is likely to be higher if you have a lower credit score.
36 or 60
2.00% - 6.00%
on LendingTree’s secure website
LendingClub is a great tool for borrowers that can offer competitive interest rates.... Read More
Similar to Upgrade, LendingClub extends loans to those with lower credit scores than Best Egg does, though it does so at a higher rate. If your credit score is less than 620, LendingClub is preferable to Upgrade, though their maximum interest rates are very close — within a tenth of a percentage point of each other.
Marcus by Goldman Sachs®
36 to 72
No origination fee
Marcus by Goldman Sachs® offers personal loans for up to $40,000 for debt consolidation and credit consolidation. ... Read More
Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.
Marcus by Goldman Sachs® — unlike Best Egg — charges no origination fee. Their maximum term length also allows you to stretch out your loan, potentially lowering your monthly payments. Remember, however, that when you stretch out your loan, you usually end up paying more in interest overall even if your monthly payment is lower.