
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.
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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.
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.
Prequalification available
Accessible to most borrowers
Direct payments for debt consolidation available
Loan origination fee
Loan terms not disclosed on website
No autopay discounts
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.
Best Egg restricts the use of personal loan proceeds to purchase or carry securities, engage in illegal activity or cover post-secondary educational expenses.
Comparable to the rates and offerings of Best Egg, Upstart has a slightly more competitive interest rate at 6.70 percent. Upstart also requires a lower credit score of just 300 making it a better option for borrowers with less than perfect credit.
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.
Customers can call Best Egg customer service at 855-282-6353. The lender’s customer service hours are:
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:
Editorial disclosure: All reviews are prepared by Bankrate.com 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.