Best Egg Loan Review

Best Egg Loan Review

Best Egg Loan is one of the best options available in the market for the high-income people who are looking to get quick funds at the most competitive rates and interests. However, you need to have a perfect credit score to get approved for this loan that can be used for funding significant expenses (except educational expenses or consolidating debts.

As per the company records, more than 450,000 customers have been funded with over $6.5 billion in Best Egg loans since 2014.

Rates & Terms

Loan amounts: $2,000 – $35,000

Typical APR: 5.99% – 29.99%

Origination fee: 0.99% – 5.99%

Late fee: $15

Return fee: $15

Repayments: 3 or 5 years

Early Loan Repayment Penalty: $0

Fund Transfer Time: 1 business day

Requirement for Eligibility

  • You should have a minimum credit score of 640
  • You should have a clean credit history of 7 years
  • You should have an annual income of average $80,000
  • Your debt-to-income ratio should be around 35%

Application Process for Best Egg Loan

The application procedure for the Best Egg Loan is quite transparent and fast since it is a virtual loan. You would just be required to fill in the following basic information like annual income, personal information, debt information, identity proof, and home type in the online form.

Once you fill up all the required fields, Best Egg Loans will perform a quick soft credit check before displaying the loan offers for both 36-month loans and 60-month loans, provided you are approved to apply for  by Best Egg loan.

However, Best Egg loan also carries out a hard credit check of all the applicants before finalizing the loan. So, keep it in mind that your credit score could get affected with all the hard pulls.

If you will choose to go ahead with the terms of one of the displayed loan offers, then you will be asked to provide your checking account rotating number wherein Best Egg can transfer your funds.

Pros and Cons of Best Egg Loan

  • Though an average borrower receives an annual percentage rate of 15%, those who are having a good credit score can qualify for rates below 10% also.
  • You can be eligible for Best Egg’s lowest rate of 5.99% if you have a minimum credit score of 700 and a minimum income of $100,000, among other requirements.
  • Best Egg provides quick application and funding process. You can fill-up the form within minutes on their online portal, and once you get approved for the loan, you will get the funds in your account in as less as one business day.
  • If you have a good credit score, you can get a loan at some competitive interest rate and simpler terms and conditions.
  • Best Loan Personal Loan is one of the best options available in the market to pay off debt consolidations of the high-interest credit cards as it has a comparatively low APR, which varies from 5.99% to 29.99% with a term loan of 3 to 5 years.
  • You can pay off your loan amount early without having to pay any additional cost or penalty.
  • Best Egg is one of the quickest loan providers. It takes only 24 hours (pre-approval takes only a few minutes) to verify the information provided by the applicants and approve the loan. Subsequently, it transfers the loan amount to the borrower’s account within just one business day once the loan is approved.
  • Best Egg follows an entirely transparent process.


  • If you are looking for a shorter-term period loan, say two years or a more extended period loan, say 6-7 years then Best Egg will not have any options to offer you.
  • You will have to pay the origination fee ranging from 0.99% to 5.99%.