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Best Egg personal loans: 2023 Review

Updated on April 19, 2023
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At a glance

Rating: 4.6 stars out of 5
Bankrate Score
Caret Down
Rating: 5 stars out of 5
Rating: 4.2 stars out of 5
Customer Experience
Rating: 4.5 stars out of 5
Rating: 4.6 stars out of 5

About Bankrate Score

Founded in 2014 and headquartered in Wilmington, Delaware, Best Egg has made a name for itself as a reputable and affordable online lender. Best Egg has funded over 788,000 customers and funded over 1.1 million loans.

Loan amount $2,000 – $50,000
APR from 8.99% – 35.99%
Clock Wait
Term lengths 36 to 60 months
Credit Good
Min Credit Score 600
This lender is best for borrowers with fair to excellent credit.

Best for borrowers with high incomes and fair to excellent credit

Best Egg offers unsecured personal loans to borrowers with fair to excellent credit. While borrowers with FICO credit scores of at least 600 can qualify for Best Egg personal loans, you’ll need a minimum credit score of 700 and an annual income of at least $100,000 to get the best rates. Should you qualify, you’ll be able to borrow up to $50,000 at rates as low as 8.99 percent APR.

The process is quick and entirely online, offering approval as soon as the same day and funding in as little as one business day after approval. Best Egg’s personal loans are ideal for consolidating debt or funding major expenses. Borrowers cannot use loans toward securities or postsecondary educational expenses.

Best Egg pros and cons



  • Checkmark

    Prequalification available

  • Checkmark

    Accessible to most borrowers

  • Checkmark

    Direct payments for debt consolidation available


  • Close X

    Loan origination fee

  • Close X

    Loan terms not disclosed on website

  • Close X

    No autopay discounts

Do you qualify?

To be eligible, you need to be a U.S. citizen or permanent resident and at least 18 years old (19 in Alabama and Nebraska) and have a valid bank account. Best Egg does not offer loans for borrowers residing in Iowa, Vermont, Washington, D.C. or U.S. Territories.

To qualify for the best rates, you need a minimum FICO score of 600 and an individual annual income of at least $100,000. You can still qualify for a loan if you don’t meet those criteria, though your loan terms will carry higher rates.

What Best Egg doesn't allow loan funds to be used for

Best Egg restricts the use of personal loan proceeds to purchase or carry securities, engage in illegal activity or cover post-secondary educational expenses.

How this lender compares

Rating: 4.6 stars out of 5
Bankrate Score
APR from
8.99% – 35.99%
Loan Amount
$2,000 – $50,000
Term Length
36 to 60 months
Min Credit Score
Rating: 4.7 stars out of 5
Bankrate Score
APR from
4.60% – 35.99%
Loan Amount
$1,000 – $50,000
Term Length
36 to 60 months
Min Credit Score
Not disclosed
Rating: 4.6 stars out of 5
Bankrate Score
APR from
7.99%-25.49% *with AutoPay
Loan Amount
Term Length
24 to 84 months
Min Credit Score
Not disclosed

Best Egg vs. Upstart

Comparable to the rates and offerings of Best Egg, Upstart has a slightly more competitive interest rate at percent. Upstart also requires a lower credit score of just 300 making it a better option for borrowers with less than perfect credit. 

Read a full comparison of Best Egg vs. Upstart

Best Egg vs. LightStream

With no disclosed fees Lightstream presents borrowers with a high maximum loan amount of $100,000 and an APR close to that of Best Egg. A primary distinction between the lenders is the ability to prequalify, a perk of Best Egg that Lightstream does not offer.
Read a full comparison of Best Egg vs. LightStream

Best Egg: in the details

What we like and what we don’t like 

Best Egg offers a few key benefits that could make it a viable option to get the cash you need, but there are also drawbacks to consider.

What we like

  • Prequalification available. You can get prequalified and check your rate without impacting your credit score. 
  • Accessible to most borrowers. The minimum credit score is 600, which is lower than what many other lenders are willing to accept. 
  • Direct payments for debt consolidation. Best Egg will pay your creditors directly if you use the loan proceeds to consolidate debt. 

What we don’t like 

  • Loan origination fee. You’ll pay a loan origination fee between 0.99 percent and 8.99 percent. But some lenders offer personal loans with no origination fee. 
  • No autopay discounts. Many lenders offer to lower your interest rate by 0.25 to 0.5 percent if you enroll in automatic payments.

How to contact Best Egg

Customers can call Best Egg customer service at 855-282-6353. The lender’s customer service hours are:

  • Monday through Thursday, 8 a.m. to 10 p.m. ET.
  • Friday, 8 a.m. to 8 p.m.
  • Saturday, 9 a.m. to 6 p.m.

Best Egg frequently asked questions

How Bankrate rates Best Egg

Overall Score 4.6 Explanation
Availability 5.0 A low minimum credit score requirement and low starting amount make Best Egg accessible for many borrowers.
Affordability 4.2 Best Egg has a low minimum APR, but its origination fee can drive up the cost of borrowing.
Customer Experience 4.5 Customers can apply for loans and manage their accounts entirely online, and customer support is available six days a week via phone and live chat.
Transparency 4.6 Not all credit requirements are listed, but prequalification is available.


To select the top personal loan lenders, Bankrate considers 20 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed over 30 lenders and gave each a Bankrate rating, which consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also took into account whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.