Pros
- Loans as high as $20,000
- Secured loans available
- Terms of 24, 36, 48 or 60 months
- Few complaints
- No prepayment fees
- Funding within 5 business days
Cons
- High APR: 18% - 35.99%
- Only available in 44 states
- Minimum credit score not disclosed
- Minimum income not disclosed
- Origination fees based on state
- Late fees based on state
Best Egg Review Summary
Best Egg personal loans could be a good choice for people with fair-to-excellent credit. Their minimum credit score requirement is just 640, and people who earn more than $100,000 per year and have a credit score over 700 also have a shot at qualifying for Best Egg’s lowest rate: 4.99%.
Read on to see how WalletHub rates Best Egg personal loans in three key categories: Terms, Requirements & Application, and Reviews & Transparency. You’ll also find information on how other lenders’ offers compare.
Best Egg Personal Loan Terms
 | |
| APRs | 7.99% - 35.99% |
| Loan Amount | $2,000 - $50,000 |
| Loan Terms | Up to 60 months |
| Origination Fee | 0.99% - 8.99% |
| Prepayment Fee | $0 |
| Late Fee | $15 |
| Minimum Credit Score | Fair* |
| Minimum Income | Not required |
| Loan Purpose | Debt Consolidation, Refinance, Home Improvement |
| Time to Receive Loan Money | 2 - 4 business days |
| Other Requirements |
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Best Egg Interest Rates, Fees & Other Terms
Category Rating: 3.8/5
- Overall APR range: Best Egg offers personal loans with an APR range of 7.99% - 35.99%. Best Egg interest rates are fixed, which means your rate will never change during the entire time you pay off the loan.
- How rates are determined: Your individual rate will be selected from the advertised range based on your credit score, income and existing debts, among other factors.
- Origination fee: Best Egg charges an origination fee ranging from 0.99% to 5.99% of the loan amount. This fee will be subtracted from the initial amount you receive.
- Other fees: Best Egg has a $15 fee for late or returned payments. The company does not charge any early repayment fees.
- Loan amounts & timelines:Best Egg personal loan amounts are usually between $2,000 - $50,000, depending on the state. Repayment terms range from Up to 60 months.
Best Egg Loan Requirements & Application Info
Category Rating: 4.3/5
- Minimum credit score: Best Egg requires a credit score of 640 or higher, according to the company’s website. You will need a score of 700 or higher to have a chance of getting the lowest rates.
- Minimum income: Best Egg does not disclose minimum income requirements. However, for the best rates, you will need an annual income of $100,000+.
- Age: You must be at least 18 years old, or the legal age to accept a loan in your state.
- Citizenship: You must be a U.S. citizen or permanent resident.
- Identification: You must have a Social Security number, Individual Taxpayer Identification Number (ITIN), or passport. You must also have a valid email address.
- Bank account: You must have a verifiable bank account.
- Pre-qualification: You can check your potential Best Egg rates online. This will not affect your credit score, though actually submitting an application will.
- Ways to apply: You can apply for a Best Egg personal loan online or over the phone at (855) 282-6353.
- No joint loans: Best Egg only takes individual applications. They do not allow co-signers or co-borrowers.
- Application status: If you are waiting for a decision, you can check your Best Egg personal loan application status though your online account.
Best Egg Reviews & Transparency
Category Rating: 3.8/5
- Better Business Bureau: Best Egg has an A+ rating and has been accredited since 2014.
- Consumer Financial Protection Bureau: The CFPB has cataloged around 55 complaints about Best Egg loans. Some complaints include having trouble accessing account information and receiving higher interest rates than expected from the initial rate check. Best Egg’s parent company Marlette Funding, LLC has a good track record of providing “timely” responses to complaints.
- WalletHub: Best Egg has a user score of 4.6/5, across more than 1,900 reviews.
- Transparency: Best Egg is transparent about their personal loan terms, which you can see on their website, though some information on fees is hard to find. Best Egg also discloses a minimum credit score requirement, which many lenders do not.
Best Egg gets a decent score in this category because of its overall good reputation. But they lose a few points because while some of their terms are easy to find, others take some effort to uncover.
Summary: Best Egg Score by Review Category
| Category | Score |
|---|---|
| Rates, Fees & Other Terms | 3.8/5 |
| Requirements & Application Info | 4.3/5 |
| Reviews & Transparency | 3.8/5 |
| OVERALL | 11.9/15 |
Best Egg vs. Popular Competitors
| Info | Best Egg | Discover | LendingClub |
|---|---|---|---|
| Reviews | |||
| APRs | 7.99% - 35.99% | 5.99% - 24.99% | 7.04% - 35.89% |
| Loan Amounts | $2,000 - $50,000 | $2,500 - $35,000 | $1,000 - $40,000 |
| Loan Terms | Up to 60 months | 36, 48, 60, 72 or 84 months | 36 or 60 months |
| Minimum Credit Score | Fair* | Fair* | Fair* |
| Winner |  Discover | ||
Methodology
In order to provide the most accurate review of Best Egg personal loans, WalletHub used 17 key metrics grouped into three overall sections: Terms, Requirements & Application, and Reviews & Transparency. We rated each section on a scale of 0 to 5, with 5 being the best, and then averaged the scores of the three sections to produce an overall rating for the loan.
- The “Terms” section includes information about how expensive the loan is, including rates and fees. It also takes into consideration how much consumers can borrow and how quickly they must pay it back. For companies where APR and fee ranges differ greatly by state, we used data from the most populous state serviced by the company. Best Egg terms do not fluctuate significantly by state, however.
- The “Requirements & Application” section examines how easy it is to apply for a loan and how long it takes to receive the money. It also looks at exactly who is eligible to apply.
- The “Reviews & Transparency” section measures the loan provider’s reputation as well as how clearly the lender discloses its terms and requirements. This takes into account user reviews and information from watchdog organizations.
The average of these three scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
