Best Egg Personal Loans
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
|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|
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
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.
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.
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.
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.
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).
All Best Egg’s security measures comply with federal law. They may also collect your personal information from credit bureaus, affiliates, and other companies.
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.
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.
Marlette Funding, LLC
1523 Concord Pike
“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.“