Best Egg is a personal loan company that offers unsecured personal loan for the personal use. Best Egg offers loans to cover numerous expenses such as debt consolidation, credit card refinancing, home improvement, moving expenses, vacation, special occasion, baby& adoption among other major purchases. The Best Egg unsecured personal loan is made by Cross River Bank which is a New Jersey Chartered Commercial Bank and a member of FDIC.
Best Egg online tools enable the customer to be in control and to customize their loan easily 24/7 from the comfort of their home. Best Egg is an online lending platform that is fast and efficient and has an easy to use interface and friendly customer support. It is available in 48 states and has been in business since 2014. This review will explore the loan features, eligibility requirements, the repayment process and the good & the bad of Best Egg Personal loan platform.
Best Egg review on personal Loan features
Best Egg loan features include:
- Loan amount offered ranges from $2,000 to $35,000 and qualified customers who receive offer codes in the mail can get up to $50,000 loan.
- The payback period or the loan term is 3 to 5 years.
- Annual Percentage Rate (APR) is as low as 5.99%. The interest rates are usually determined by the borrower’s credit score, debt payment obligations, loan amount, income, loan term, credit usage history among other factors.
- Origination fees can range from 0.99% to 5.99% and is usually deducted from the clients’ loan proceeds or rather when the funds have been deposited into the borrowers’ bank account.
- $7 if the client pay by check or Western Union wire transfer.
- Late payment and returned payment of $15.
- No penalty for early loan repayment.
Minimum loan Amounts in:
- Massachusetts is $6,000.
- New Mexico and Ohio are $5,000.
- Georgia is $3,000.
Best Egg Loan Eligibility Criteria (Requirements)
Best Egg lending platform takes a maximum of a day to verify and determine the borrower’s eligibility and interest rate to offer the borrower. The application process requires the borrower to give their email address and the platform requests a credit report in a subtle way that it does not impact the borrower’s credit score.
Best Egg considers a variety of things to determine the eligibility for the loan which includes:
- US citizen or permanent resident.
- Valid photo identification.
- At least 18 years (19 years in Alabama and Nebraska).
- The annual income of at least $25,000.
- Verified Bank Account.
- Personal information including your address, phone number, and SSN.
- Minimum Credit score of 700 or higher.
- Maximum debt to income ratio of 40%.
- More than 3 years of credit history.
- No history of bankruptcies.
- No current delinquencies.
- Home type.
- Monthly housing payment.
- Debt-to-income ratio.
- Credit card cash advances.
- Best Egg does not operate in Vermont, West Virginia, Puerto Rico and Guam.
Best Egg Loan Repayment Process
Best Egg repayment process is simple. The clients can repay their loan in different ways like set up automatic electronic funds transfer, send a check through the mail, pay online or they can also set up their payment at a Western Union office. The payment made through the mail should be allowed at least 5-7 days to reach the lender. There is a cost that is incurred for each transfer.
Pros and Cons of Best Egg personal Loan
Final verdict on Best Egg review
Best Egg is an ideal lending platform for borrowers looking for a simple, fast and efficient lender to refinance credit cards and for other personal use.
Best Egg alternatives
*Not all loan providers serve in all states. Please use this personal loan search tool to find the providers serve in your state.
|Lenders||Loan Amount||Loan Terms||Fees||Check Rate|
| ||$2,000 - $35,000||24 to 60 mo||Up to 4.75% of the loan|| |
APR: 9.95% - 35.99%
| ||$1,000 - $50,000||36 to 60 mo||1% - 6% of the loan|| |
APR: 8.92% - 29.99%
| ||$1,000 - $10,000||6 to 48 mo||Not disclosed|| |
APR: 34% - 155%
| ||$5,000 - $100,000||36 to 84 mo||No fees|| |
APR: 5.49% - 14.49%
| ||$5,000 - $35,000||24 to 60 mo||2% - 5% of the loan|| |
APR: 8% - 25%
| ||$2,000 - $35,000||36 to 60 mo||0.99% - 5.99% of the loan|| |
APR: 5.99% - 29.99%
| ||$10,000 - $35,000||24 to 60 mo||Up to 5.99% of the loan|| |
APR: 4.99% - 29.99%
| ||$3,500 - $20,000||24 to 36 mo||Varies by state|| |
APR: 15.49% - 34.99%
| ||$2,000 - $40,000||36 to 60 mo||1% - 5% of the loan|| |
APR: 6.73% - 135.36%
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