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Best Egg personal loans: 2024 Review

Updated on October 11, 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: 4.3 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 personal loan solution. Best Egg has 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 640
This lender is best for borrowers with fair to excellent credit.

Find personal loan offers in 2 minutes or less

Choose your loan amount and answer a few questions to see personalized offers.

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Bankrate User Stats

Bankrate users taking out personal loans from Best Egg have followed the below trends and stats:

  • Average funded loan amount: $18,718
  • Funded loan range: $2,000-$50,000
  • Average funding time: 2.5 days
  • Average APR of funded loan: 19.31%
  • Amount of loans funded through Bankrate since 2022: 2,864
  • Popular loan purpose trends: 46.2% of Best Egg borrowers on Bankrate take out personal loans to consolidate debt, more than any other loan purpose.

Best for borrowers with fair credit

Best Egg offers unsecured personal loans to borrowers with fair to excellent credit. But while borrowers with FICO credit scores of at least 600 can qualify, you will need a minimum credit score of 700 and an annual income of at least $100,000 to get the best rates. 

That being said, borrowers with fair credit should still consider applying. Similar lenders frequently only work with borrowers who have good to excellent credit. You may not be able to get Best Egg’s lowest rates, but you may receive a loan offer that other lenders wouldn’t approve. 

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. 

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.

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    High maximum APR.

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    No autopay discounts.

Do you qualify?

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.

You will also need to meet a few basic requirements.

  • Be a U.S. citizen or permanent resident.
  • Be at least 18 years old (19 in Alabama and Nebraska).
  • Have a valid bank account. 

Best Egg does not offer loans for borrowers residing in Iowa, Vermont, Washington, D.C. or U.S. Territories.

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: 4.8 stars out of 5
Bankrate Score
APR from
7.80% – 35.99%
Loan Amount
$1,000 – $50,000
Term Length
36 to 60 months
Min Credit Score
Not disclosed
Rating: 4.7 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

A personal loan from Upstart is similar to your options with Best Egg. However, Upstart charges a significantly higher origination fee — capping out at up to 12 percent. 

Read a full comparison of Best Egg vs. Upstart

Best Egg vs. LightStream

LightStream is a good option for quick funding. Unlike Best Egg, it does not charge any fees. But it lacks a prequalification process and typically only funds borrowers with excellent credit.
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. 
  • High maximum APR. Best Egg has rates up to 35.99 percent. This can result in you paying significantly more on your loan in interest.
  • No autopay discount. Many lenders offer to lower your interest rate by 0.25 to 0.5 percent if you enroll in automatic payments, but Best Egg does not.

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.

You can also contact Best Egg through its customer service email.

Fees and penalties

Best Egg charges an origination fee between 0.99 percent to 8.99 percent on its loans. It may also charge a late fee or non-sufficient funds (NSF) fee if your payment is late or returned, but it does not list the cost on its website.

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 4.3 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.