Best Egg Personal Loans Review 2022: Should You Sign Up?

GOBankingRates Score

4.4
SCORE
GOBankingRates Best Banks 2023 scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks.
Quick Take: Best Egg is a trusted unsecured personal loan provider that makes it easy for borrowers to consolidate and reduce the cost of high-interest credit card debt or to access the funding they need for things like home and car repairs. The company charges reasonable fees and funds accounts quickly.
  • Availibility
    4.0
  • Affordability
    4.0
  • Customer Service
    5.0
  • Fees
    4.5
How did we calculate this?

Pros

  • Reasonable APRs from 7.99% to 35.99%.
  • Personal loans up to $50,000.
  • Easy to check rates.
  • Fast approval and funding process.

Cons

  • Borrowers must pay a loan origination fee.
  • No option to choose the due date.
  • No promotional interest rates.

Best Egg Personal Loans Overview

Best Egg loans make it easy for borrowers with credit scores at or above 640 to access up to $50,000 in immediate funding. The company has become a popular option that’s earned a 4.7 out of 5 TrustScore on TrustPilot and an A+ BBB Rating with a 4.87 out of 5 customer service score on the platform, as of Oct. 28, 2022. Best Egg is one of the highest-rated companies in its industry at the BBB and TrustPilot, making it a strong option for anyone looking for a loan. 

Key Features

Popular options don’t just become popular options by offering the same things everyone else offers. They offer unique features and services that compel the masses to get involved. Here are the key features of Best Egg.

Availability

Loans from Best Egg are widely available because the company only requires a 640 credit score to be approved, which nearly three-quarters of the United States has. Of course, applicants must also have reasonable income and employment to be approved. Still, these loans are relatively easy to get as long as applicants meet the minimum credit score requirements. 

Affordability

The company charges APRs ranging from 7.99% to 35.99%, which is highly competitive in the personal loan industry. Best Egg also charges a loan origination fee ranging from 0.99% to 8.99%. That fee depends on the size of the loan and is deducted from the total amount upon funding. 

Customer Service

Best Egg’s customer service is some of the best in the business, which is why the company has earned high ratings on websites like TrustPilotand the Better Business Bureau. Reading consumer reviews about the company shows that the vast majority of its customers have been impressed by the speed and level of services they’ve received.  

Fees

Best Egg fees align with what applicants typically expect when applying for a personal loan. Both interest and loan origination fees are competitive and there are no hidden fees to speak of. 

How Best Egg Stands Out

Best Egg stands out by providing soft credit checks that let applicants see if they’re approved before they apply. This means applicants who aren’t approved don’t have to worry about hurting their credit scores. 

Comparable Options

Best Egg’s key features are compelling for those interested in getting personal loans, but it’s not the only option available. Those who don’t want to work with Best Egg should consider the following competitors:

Prosper

Prosper is a peer-to-peer lending platform that offers interest rates and loan caps similar to Best Egg. The company shines by approving loans for consumers with credit scores as low as 600 and may be the best option for consumers with credit scores between 600 and 640. The core difference between Prosper and Best Egg is the fact that Prosper is a peer-to-peer lending service. That means the money customers borrow comes from peers, rather than from the traditional banking system.  

SoFi

SoFi is another personal loan provider with interest rates that are competitive when compared to Best Egg. The biggest difference between the two is that SoFi loans up to $100,000 — making it the best option for those who need high-value loans. 

Aside from loans, SoFi also features high-yield savings accounts with interest rates as high as 2.5%. 

How To Apply 

Customers interested in applying for a Best Egg personal loan can click the “Check My Rate” button on the company’s website and follow the instructions.

Who Best Egg Is Best For

Best Egg is a compelling option for anyone who needs a personal loan ranging from $2,000 to $50,000. Of course, higher credit scores qualify for lower rates, but it’s also a compelling option for those with less-than-perfect credit. 

Final Take

Best Egg personal loans can give you fast access to the money you need. If you need a personal loan, create a Best Egg login and apply — your credit won’t be impacted until you receive approval and accept the loan.

Best Egg Personal Loans FAQs

Here are some of the most common questions about Best Egg Personal Loans.
  • Is Best Egg a legitimate company?
    • Yes. Best Egg is an A+-rated company with the BBB and has earned a 4.6 TrustScore on TrustPilot. The company is the center of thousands of positive online reviews from consumers who have used its services.
  • What bank does Best Egg use?
    • Best Egg uses Cross River Bank, as well as Blue Ridge Bank, as lending partners.
  • How much can you borrow from Best Egg?
    • Applicants can borrow up to $50,000 using the Best Egg lending platform.
  • Does Best Egg verify income?
    • Best Egg may require applicants to verify various aspects of their applications, including their income.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

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About the Author

Joshua Rodriguez is a personal finance and investing writer with more than 10 years of experience. He is the founder of CNA Finance. His work has been featured on U.S. News & World Report, Money Talks News and several other mainstream outlets. 
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