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This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website. These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.

Best Egg Personal Loans

Rachel Morey Rachel Morey Last update:
Est. APR
5.99 - 29.99%
Max loan
$50,000
Term
36 & 60

Best Egg offers personal loans from Cross River Bank, located in New Jersey. Consumers can fill out a quick application for an unsecured personal loan for credit card refinancing or debt consolidation, home improvement, moving loans, major purchases, vacation loans, special occasion loans, and loans for expenses related to having a baby or adopting a baby.

You can check your interest rates and terms with only a soft pull of your credit, so exploring loan options through Best Egg doesn’t hurt your credit. Best Egg borrowers receive their loan funds in one to three business days.

Best Egg Financial Loan Types and Terms

Loan types
  • Credit Card Refinancing/Debt Consolidation
  • Home Improvement
  • Moving Expenses
  • Major Purchases
  • Special Occasion Loans
Loan amount
  • $2,000 – $50,000
Repayment terms 36 & 60 months
APR 5.99% – 29.99% depending on credit
Minimum credit score FICO 600
Lender type Direct lender; Cross River Bank
Good for Those looking for a quick decision and fast funding on a personal loan

 

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Best Egg is Good For

    • Personal loans
    • Explore without affecting credit score
    • Debt consolidation

Best Egg may be a good option if you want a quick and easy way to explore your personal loan options without affecting your credit.

Best Egg Personal Loans Pros

  • Soft credit pull for pre-approval
  • Funding of approved loans in as little as one business day
  • Application takes just a few minutes

Best Egg Personal Loans Cons

  • Must go through pre-approval to find your APR
  • Loans require an origination fee
  • Application information must be verifiable

Application Process

Anyone can apply for a Best Egg loan to see if offers are available to them.

Like other lenders in the United States, Best Egg is required by federal law to ensure your information is verifiable including your name, address, and date of birth. To learn if offers are available, Best Egg applies a soft pull of your credit that has no impact on your credit score. You’ll have an answer about your loan in just a few minutes.

If you are approved, you may have to submit verification of the information your provided in your application. You may also need to send proof of income or confirm your address.

Most applicants are required to provide no more than two documents.

If you get approved and agree to Best Egg’s offer of the loan amount and terms, you can expect to see your funds in your bank account in one to three days. Best Egg says that about half of their customers get their loans funded the next business day after approval.

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Terms & Requirements

Best Egg charges origination fees on loans they issue. Pay attention to those fees, because they will reduce the amount of money deposited into your account upon loan approval.

Loan Requirements

Limited criteria for a Best Egg personal loan are disclosed on the company’s website. You must apply to determine eligibility.

Best Egg states that they use information about how much money you owe compared to your income, information from credit bureaus, and information from your loan application to decide whether to approve you for a personal loan.

You can’t use Best Egg’s personal loans to fund post-secondary education, purchase securities, or to conduct illegal activity.

Loan Terms

Best Egg’s personal loans come with an 5.99% – 29.99% APR. The site doesn’t offer business loans, but you can apply for an unsecured personal loan for nearly any reason.

There is a one-time loan origination fee of 0.99% to 6.99% of the full loan amount. If you are approved for (and accept) a five-year loan term, you’ll pay a minimum origination fee of 4.99%.

The fee is automatically deducted from your total loan amount and the remaining balance of the loan is deposited into your bank account. So, an applicant with a 4.99% origination fee on a $10,000 loan would receive a deposit of $9,501 into their bank account.

Best Egg charges a $15 late fee if your monthly loan payment is more than three days late.

Repayment Terms

Your Best Egg personal loan will have a repayment term of either 36 months or 60 months.

Privacy & Security

Best Egg has excellent consumer reviews, and they maintain an A+ rating with the Better Business Bureau (BBB).

Their privacy policy explains how and why they collect and use personal information from applicants. The disclosure also includes information about how Best Egg’s lending partner, Cross River Bank, uses an applicant’s personal information. Both companies state that they use their customers’ personal information for marketing purposes so they can offer products and services and for joint marketing with other financial companies.

All Best Egg’s security measures comply with federal law. They may also collect your personal information from credit bureaus, affiliates, and other companies.

Customer Support

If you want help from Best Egg’s customer support, you can get it through the Best Egg Help Center. If you need one-on-one support, you can reach a Best Egg Agent via Live Chat or by calling.

Final Thoughts

Best Egg has great reviews from happy customers, and their loan terms seem to line up with competitors’ offerings. The 4.99% origination fee on a five-year personal loan may pose a problem for some applicants. If you have good credit, be sure to shop around so you know you are getting the best possible terms. Not every lender requires origination fees.

Address

Marlette Funding, LLC
1523 Concord Pike
Wilmington, DE

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“Best Egg Disclaimer: *Trustpilot TrustScore as of June 2020. Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. “Best Egg” is a trademark of Marlette Funding, LLC. All uses of “Best Egg” refer to “the Best Egg personal loan” and/or “Best Egg on behalf of Cross River Bank, as originator of the Best Egg personal loan,” as applicable. The term, amount and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000–$50,000. Residents of Massachusetts have a minimum loan amount of $6,500; New Mexico and Ohio, $5,000; and Georgia, $3,000. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $50,000. Annual Percentage Rates (APRs) range from 5.99%–29.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–6.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate.You need a minimum 700 FICO®score and a minimum individual annual income of $100,000 to qualify for our lowest APR.To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.We may also ask to see your driver’s license or other identifying documents. Loan Example: A 5‐year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81 to a total amount of $12,108.6. A 3‐year $5,000 loan with 5.99% APR has 36 scheduled monthly payments of $150.57 to a total amount of $5,420.52.

Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website. These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
Rachel Morey Rachel Morey
Rachel Morey is a journalist specializing in finance content. She has written for some of the major lenders in the online personal and business finance industry. She has been writing professionally for nearly a decade and has projects in print and broadcasting. A native Iowan, Rachel has a special fondness for the open roads of rural America.
This review is based on the writer's personal opinion.