Borrowing decisions aren’t always about finding the lowest rate. Sometimes, it’s about timing, purpose, or simply narrowing down what aligns with your financial limits or priorities. If you’ve been researching personal lending options, Best Egg loan likely appeared during your search.
However, this search result doesn’t automatically make it a solid match to your loan objectives.
Therefore, before applying, it’s worth reviewing the actual terms and limitations to ensure if Best Egg is the right personal loan lender for you.
What Is Best Egg Loan?
Best Egg is an online lender offering financing options tailored for individuals who need structured access to cash.
At the same time, its services include unsecured personal loans, tools for managing rent payments, and features that support financial planning.
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Best Egg Loan Details: Rates, Requirements, Terms
| Detail | Value |
| Loan Amount Range | Flexible loan amounts ranging between $2,000 and $50,000 |
| APR Range | 6.99% – 35.99% |
| Origination Fee | 0.99% – 9.99% |
| Repayment Terms | 3 – 5 years |
| Minimum Credit Score | 640 |
| Funding Time | As soon as one/next business day |
| Prepayment Penalty | None |
| Application Type | Individual only |
| Loan Types Offered | Secured and unsecured loans |
| Secured Loan Option | Yes |
| Availability | Not offered in Iowa, Vermont, or West Virginia |
What Loans Does Best Egg Offer?
Best Egg separates its lending products by collateral, offering both unsecured and secured options to help you find the most suitable loans for your needs.
Unsecured Loans
Unsecured loans don’t require collateral.
These are typically used for time-sensitive needs where the borrower prefers not to tie the loan to assets, especially when you’re managing existing debt payment obligations.
Best Egg issues the following unsecured loans with fixed terms and set repayment schedules.
Personal Loans
Personal loans are best for one-time expenses that don’t qualify as emergencies but still require quick funding access.
Best Egg personal loans include:
- Home repairs or upgrades
- Relocation or moving out costs
- Large-ticket purchases
- Medical-related expenses like fertility or adoption
- Events with upfront costs, such as weddings
- Trips that require pre-payment
Debt Consolidation
Debt consolidation merges multiple balances, like credit card debts and medical bills, into one payment. In this option, Best Egg specifically provides personal loans for debt consolidation.
It’s useful when managing too many due dates or dealing with high interest across accounts.
With this type of Best Egg loan, you reduce the payment count and potentially lower your overall rate, depending on your credit profile.
You can also combine these with DIY debt management approaches like the debt snowball or the debt avalanche.
Credit Card Refinancing
Instead of juggling credit card payments with variable rates, credit card refinancing replaces them with one fixed monthly payment.
This option simplifies repayment and may reduce total interest if the rate offered is lower than the blended credit card APRs.
Secured Loans
Secured loans tie the borrowed amount to collateral, which is an asset you already own.
If you fail to repay, the lender can claim the asset.
Best Egg offers two types of secured loans: vehicle equity and homeowner discount.
Vehicle Equity Loan
Vehicle equity uses the value of your car to determine how much you can borrow. It also factors in your debt-to-income ratio when assessing eligibility.
If you’ve paid off the car or have equity remaining after subtracting your loan balance, you can use it to secure funding.
These loans may also qualify for larger amounts and lower rates than unsecured offers.
Additionally, other features of a vehicle equity loan include:
- Use your vehicle to access faster funding
- Potentially qualify for lower rates or higher loan amounts
- Designed for borrowers with equity in their vehicles
Homeowner Discount
A homeowner discount loan is available to homeowners who use interior fixtures or similar items as collateral. Unlike home equity loans, this loan does not require full-home collateral.
Approved borrowers may also qualify for Best Egg’s lowest available rates through this offer.
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How to Qualify for a Best Egg Loan
To be eligible for a Best Egg loan, you must meet the following criteria:
- U.S. citizen or permanent resident
- Legal age to borrow in your state
- A credit score of at least 640
- Verified income
- Government-issued ID, like a driver’s license or passport
- An active bank account with a routing number
- Valid email and physical residential address
What’s the Maximum You Can Borrow from Best Egg?
Depending on your eligibility, Best Egg offers a minimum loan amount of $2,000 up to $50,000.
What Fees Does Best Egg Charge?
Best Egg applies an annual percentage rate (APR) between 6.99% and 35.99%, depending on your credit profile and loan type.
In addition to interest, they charge an origination fee ranging from 0.99% to 9.99% of the total loan amount. This fee is deducted from your disbursement, so it’s reflected in the cash you actually receive.
There may also be fees for late payments or returned payments due to insufficient funds. These charges vary but are clearly outlined in the loan agreement before you accept the terms.
At the same time, Best Egg doesn’t charge prepayment penalties, so you can pay off the loan early without added costs.
How to Apply for a Best Egg Loan
The loan application process for Best Egg loans is as follows:
Complete a Prequalification to Get a Quote
Firstly, you must complete the prequalification form on Best Egg’s website. You’ll need to submit your name, address, income details, and other identifying information.
This step doesn’t affect your credit score. It allows Best Egg to evaluate your profile and give you estimated terms based on a soft credit check.
Add Information and Submit Your Application
Once prequalified, you’ll continue the application by verifying your financial information and uploading identifying documents.
Then, be prepared to upload recent pay stubs, W-2s, or tax returns.
If you’re applying for a secured loan, you’ll also need to provide details about the asset you plan to use as collateral.
The system will also walk you through each step without requiring in-person visits.
Review the Loan Details
Lastly, after you submit your full application, Best Egg will present a finalized offer after successful verification. Read the contract carefully, including origination fees, repayment schedule, and total cost.
This review also confirms the desired loan amount and your commitment to it.
If you accept the offer, loan proceeds are typically sent within one business day, depending on your bank’s policies and processing time.
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Benefits of Getting a Best Egg Loan
Best Egg loans offer the following practical advantages for borrowers who need speed, structure, and flexible access to funding.
User-Friendly Online Application
Applying for a Best Egg loan is simple because of Best Egg’s user-friendly platform. Prequalification takes a few minutes, and you can complete the entire process online.
After approval, your account dashboard allows you to track balances and make payments without contacting support.
Best Egg Loans Are Accessible to Borrowers With Fair Credit
In Best Egg, applicants with average credit scores may still qualify.
Unlike traditional banks that usually deny anything below excellent credit, Best Egg considers other factors, including income and repayment history.
No Prepayment Penalties
If you pay off your Best Egg loan early, you won’t be penalized. This reduces the total interest paid over the loan’s life and supports early repayment for those with extra cash flow.
Fast Funding (As Soon As Next Business Day)
Best Egg transfers funds quickly after loan approval. Many borrowers receive money by the next business day, which helps when dealing with urgent expenses or high-interest debt.
Flexible Secured and Unsecured Loan Options for Any Purpose
You can choose between secured and unsecured loans based on your financial position. Secured loans offer higher limits and lower rates, while unsecured loans are ideal when you prefer not to tie the loan to personal property.
Easy Debt Repayment With Direct Pay
If you’re consolidating debt, Best Egg can pay creditors directly. This feature removes manual transfers and reduces the number of payments you track each month.
Low Rates for Borrowers With High Income and Good Credit Scores
Best Egg offers rates starting at 6.99% to those with strong applications. In most cases, this includes borrowers with credit scores over 700 and an annual income of 100,000 or more.
You Have Access to Tools to Track Credit and Manage Spending
Borrowers get access to Best Egg’s Financial Health dashboard, which includes credit history tracking and budgeting tools.
These features help you monitor changes in your score and stay aligned with financial objectives, or seek credit counseling when needed.
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Risks and Limitations of Best Egg Loans
Although Best Egg loans have flexible options and fast disbursement, the following risks and limitations, including potential debt traps, may affect your terms and repayments.
Fees and High APR
Best Egg loan origination fees can go as high as 9.99%, depending on your profile.
At the same time, APRs can reach up to 35.99% for applicants with lower credit scores. These costs can significantly increase the total repayment amount’s yearly rate.
No Joint Applications (Doesn’t Allow Co-Signers)
Best Egg only accepts individual applications. If you want to apply with a co-borrower to improve your chances or increase the loan amount, this lender may reject your loan application.
It also limits access for younger borrowers or those without a consistent income history.
Limited State Availability
Not all states support Best Egg loans. Before applying, you’ll need to check whether your state is eligible. Access can also vary due to regional lending regulations.
As of June 2025, Best Egg is unavailable in Iowa, Vermont, and West Virginia.
You May Receive Unwanted Promotional Emails or Calls
Some borrowers report receiving unwanted marketing emails and calls after submitting their information. While opt-out options exist, they may take time to fully take effect.
No Discounts for Autopay and Direct Pay
Best Egg doesn’t offer rate reductions for setting up autopay or using direct pay. Other lenders sometimes include these as incentives, which can be a drawback for borrowers comparing options.
Limited Repayment Terms
Best Egg loans are only available with terms between three and five years. Because of this, these repayment terms may not suit borrowers looking for shorter payoff periods or longer-term flexibility.
Some Loan Uses Are Prohibited by Best Egg
You can’t use Best Egg loans for college tuition, investing, or any unlawful activity. Moreover, Best Egg outlines these restrictions in the loan agreement and enforces them through compliance checks.
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What Do People Say About Best Egg Loans?
Best Egg’s reputation holds steady across multiple review sites. Its application process, funding speed, and customer service receive consistent positive feedback.
However, interest rate concerns and fee disclosures appear in several user complaints, especially from borrowers with mid-tier credit scores.
Better Business Bureau (BBB)
Best Egg is accredited by the BBB with an A+ rating. It holds an average score of 4.87 out of 5 stars from over 3,300 reviews.
Also, there are 304 total complaints in the last three years, with 125 complaints closed in the last 12 months.
Many reviewers mention the simple online application and fast deposit times as positive factors.
On the other hand, critical reviews point to confusion around interest charges after early payoff and difficulty contacting live support.
Trustpilot
Based on more than 10,000 reviews on Trustpilot, Best Egg has a 4.6 out of 5 TrustScore. Users praise the lack of collateral requirements, excellent customer service, and clarity of the process.
However, some warn that APRs can spike if your credit score is closer to the minimum, and a few mention delays with scheduled payments.
WalletHub
WalletHub rates Best Egg at 4.6 out of 5, with scoring based on interest rates, transparency, and the application process.
Positive comments highlight no prepayment penalties and quick disbursement, while drawbacks include higher APRs for average credit and noticeable origination fees.
Threads on Reddit discussing Best Egg confirm it’s a legitimate lender. Many users share successful debt consolidation stories and confirm they received funds within one to three days.
On the other hand, some caution that advertised rates may increase during final approval if your credit score sits near the qualifying threshold.
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Should You Use Best Egg?
Using Best Egg for loans depends on the following conditions:
When to Use a Best Egg Loan
Need a Loan with Fast Approval and Clear Terms
Best Egg loans are best for borrowers who need funds within the same or next business day and don’t want to deal with overly complex conditions.
Have Strong Credit or a Steady Income
Borrowers with stronger credit histories tend to receive the lowest APRs. A steady income and a credit score above 700 generally result in better loan terms and lower origination fees.
Want to Use Collateral Without a Traditional Home Equity Loan
If you’re a homeowner but don’t want to use your whole home as collateral, Best Egg’s homeowner discount loan uses certain personal property inside your home.
This option gives you access to a secured loan without needing a traditional home equity product.
Prefer a Solo Application Without Co-Borrowers
Since Best Egg allows single applicants only, this may work better for individuals who prefer to apply on their own terms and don’t want the added complications of co-signer or co-borrower paperwork.
Who Shouldn’t Use Best Egg Loans
Want a Loan Without Origination Fees
If your priority is avoiding upfront fees, Best Egg might not meet your needs. The origination fee is deducted directly from your loan amount, reducing the funds you receive.
Need Lower Rates on a Modest Income
Applicants with lower income or average credit scores often receive higher APRs.
Furthermore, if you’re trying to minimize interest, other lenders may offer better and competitive interest rates for the same profile.
Want to Apply with a Co-Borrower or Co-Signers
Best Egg doesn’t allow joint applications, so it may not suit borrowers who rely on shared income, co-signers, or joint approval.
Have Poor Credit or High Debt-to-Income Ratio
While Best Egg accepts borrowers with credit scores of 600 or higher, you’ll need a credit score of 640 or higher and a debt-to-income ratio of 30% or lower to be eligible.
If your score is below that range, you may face a high APR and a potential for a higher debt burden.
Earn Less Than $100K Annually
To qualify for Best Egg’s best rates, you’ll need a credit score of at least 700 and an annual income of $100,000 or more. Borrowers below that threshold may receive less favorable terms.
Live in a State Where Best Egg Isn’t Available
Because not all states support Best Egg loans, you’ll need to check availability before applying.
Want Lenders That Offer Autopay Discounts
Best Egg doesn’t offer rate reductions for autopay or direct pay to creditors. If you value those features, another lender may be better.
Can’t Risk Losing Collateral
If you choose a secured loan, you must pledge a car or other personal asset. If you can’t repay or default, Best Egg can repossess your vehicle or the item used as collateral.
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How Best Egg Compares to Other Lenders
| Lender | Loan Amount | APR / Fees | Credit Check | Funding Time | Reports to Bureaus? | Best For |
| Best Egg | $2,000 to $50,000 | 6.99%–35.99% APR, 0.99%–9.99% origination fee | Soft pull initially, hard pull at approval | Same/Next business day | Yes | Fast personal loans with secured or unsecured options |
| Varo | Up to $500 | No monthly fee, $1.60–$40 transfer | Yes | 1–2 business days | Yes | Traditional banking needs |
| Earnin | $150/day, $750 max | Tip-based with optional express fee | No | 1–2 days (faster for a fee) | No | Early paycheck access |
| Current | $50 to $750 | No fees | No | Up to 3 days, or instant (paid) | No | Temporary account gaps |
| OppLoans | $500 to $5,000 | 160% to 195% | Soft or hard credit inquiry | Same business day | Yes | Urgent expenses with poor credit |
| Cleo | Up to $250 | $5.99 monthly membership | No | 3–4 days, or instant with a fee | No | Small cash help + budgeting |
| CreditNinja | $300 to $5,000 | Triple-digit APR possible | May include a hard credit check | Same day | Yes | High-risk personal loans |
| Transform Credit | $1,500 to $7,000 | ~35.99%, no fees | Soft pull initially | 1–2 business days after approval | Yes | Poor-credit borrowers with strong co-signer |
| SoFi | $5,000 to $100,000 | Low fixed APR, no fees | Hard inquiry | 2–7 business days | Yes | Long-term borrowing with good credit |
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Final Thoughts
Best Egg suits borrowers looking for structured repayment, fast access to funds, and an option between secured and unsecured loans. The application is simple, and loan activity is reported to credit bureaus.
However, not all applicants qualify for low rates, and the final loan offer may include fees or terms that don’t work for every budget.
Still, Best Egg remains competitive, especially for borrowers who prioritize fast funding and prefer a predictable monthly schedule over revolving credit.
Regardless, always compare lenders and their available loans, terms, and conditions before finalizing everything to avoid potential inconveniences.
Subscribe to Financial Daily Update today for more lender reviews, rate insights, and decision-focused breakdowns to help you choose the financial institution that aligns with your objectives.
Best Egg Loan FAQs
Is Best Egg Legit?
Yes. Best Egg is a legitimate lender with an A+ rating from the BBB. Loans are issued by Cross River Bank or Blue Ridge Bank, both chartered institutions.
The platform has also received thousands of verified reviews on Trustpilot and similar consumer review sites.
Does Best Egg Report to Credit Bureaus?
Yes. Best Egg reports loan activity to the major consumer credit bureaus. If you’ve paid off your loan, expect your credit report to update within approximately 45 days.
This update also reflects a “paid in full” status and can positively influence your credit report.
Can I Pay Off Early Without Fees?
Yes. Best Egg does not charge penalties for early repayment. Borrowers can reduce total interest costs by paying ahead of schedule.
At the same time, early payoff is processed without negatively impacting your credit standing.
