What You Need to Know
Best Egg offers a good variety of loans. They offer home improvement loans, debt consolidation, medical expenses, or other major expenses. You can use Best Egg personal loans for moving costs, a vacation, or taxes. You cannot use their loans for post-secondary education expenses.
Customers can have more than one loan open at a time with Best Egg. To open a second loan, you must have the first loan open for longer than six months. The combined balances of the two loans cannot exceed $50,000. Best Egg will also consider how you have paid off your other Best Egg loan to see if you qualify for a second loan.
Best Egg may charge a $7 fee to process payments. Payments made by checks, online, or over the phone may have a fee. Electronic automatic payments do not have a processing fee. If your payment is later than three business days after the due date, there is a $15 late fee.
Lending options are not currently available in all 50 states in the United States. Best Egg does not offer lending options in Iowa, Vermont, or West Virginia. If you live in one of these states, you cannot apply for a loan with Best Egg.
Qualifications to Apply for Best Egg Loans
- Annual Income: Depends on applicant
- Job History: Depends on applicant
- Debt-to-Income Ratio: Depends on applicant
- Minimum Credit Score: >640
- Credit History Length: Several years
- Credit Bureau Inquiries: Depends on applicant
- Bankruptcy History: Depends on applicant
- Past Loan Denial: 21-30 days
- U.S. Citizenship Required: Yes
- Required Age: Legal age, depending on the state
- SSN Required: Yes
- Valid Bank Account Required: Yes
Useful Information About Best Egg Loans
- Business Loans Offered: No
- Cosigner Loans Offered: No
- Joint Loans Offered: No
- APR Range: 5.99-29.99%
- Fixed Interest Rates: Yes
- Repayment Options: Online, ACH, mail, phone
- Payments Due: Monthly
- Payment Methods Fees: Yes, other than ACH
- Smallest Loan: $2,000
- Largest Loan: $35,000
- Loan Term Lengths: 3-5 years
History and Achievements
Best Egg started offering personal loans in March of 2014. They are a lending company powered by Marlette Funding. All Best Egg loans are funded through Cross River Bank, which is a New Jersey state-charted bank.
Since Best Egg started, they have grown to over 300,000 customers. Best Egg has approved over $8 billion in loans. They serve customers in most of the states in the United States. They do not currently offer loans in Iowa, Vermont, or West Virginia.
Best Egg has received a variety of awards and recognition. Some of those include:
- "A+ Rating" from the Better Business Bureau
- "Rated #1 Personal Loan" by Best Company in 2019
- "Ranked #5 of Top 20 Best Fintechs to Work For" by American Banker's in 2018
- Named "Number One in Personal Loans" from LendingTree in 2017
Customers can apply for a Best Egg personal loan online or over the phone.
Frequently Asked Questions
Can I apply for a loan entirely online?
Yes. Best Egg loans are entirely online.
What is the lowest my credit score can be?
Best Egg loans require a credit score above 640. If your score is lower than that, you may still qualify.
What is the smallest loan amount available?
The minimum Best Egg loan is $2,000.
What is the largest loan amount available?
The maximum loan amount is $35,000. If you have a high enough credit score and annual income, you may qualify for a $50,000 loan.
What are the loan term lengths?
Best Egg personal loans vary between three to five years in length.
Are the interest rates competitive?
The interest rates for Best Egg loans are competitive with other lending companies. The interest rate you receive depends on your qualifications.
Are the interest rates fixed?
Yes. Best Egg offers fixed interest rates for the life of the loan.
What types of loans are available?
Best Egg offers personal loans. Those loans include home improvements, debt consolidation, vacations, and special occasions.
What information do I need to apply for a loan?
Best Egg requires your personal information. You must provide a valid email, SSN, and bank account. Best Egg will ask you to very your income.
How long does approval take?
Specific approval times vary depending on your qualifications.
How long will it take the money to enter my account after approval?
Specific approval times vary depending on your qualifications.
If I have been denied a loan before, how long do I have to wait to apply again
Best Egg requires customers wait 21-30 days if you apply and are denied a loan.
What are the payment options to repay my loan?
You can repay your Best Egg loan online, over the phone, or by sending a check. Best Egg may charge a fee for paying with these options. If you sign up for automatic payments, Best Egg will not charge a fee.
Can I pay my loan off early?
Yes. There is no fee for paying your loan off early.
Is my information secure?
Best Egg offers security measures that comply with federal laws. Their buildings and files are secure. Their computers have safeguards in place. Best Egg limits the personal customer information employees can see.
Does this loan company offer a mobile app?
The Best Egg website does not list a mobile app.
How do I contact customer service?
Reach a Best Egg representative through phone, email, or mail. You can follow Best Egg on Facebook and Twitter.
Bank Contact Information
Best Egg
P.O. Box 207865
Dallas, TX 75320-7865
855-282-6353
