If you need to borrow money from a lender, but you don’t know what type of loan is best for you, you might want to consider obtaining a personal loan. Personal loans are loans that provide the borrower with capital for whatever they need – they’re becoming increasingly popular with many modern consumers in the United States. Traditional lenders have typically been those who provide personal loans to consumers in the United States. But things have changed drastically over the past decade – there are now a number of large tech companies that provide personal loans online.
Best Egg Personal Loan Reviews

The Landscape

As the lending landscape changes, it’s not much easier for people to obtain personal loans from the comfort of your home. This makes them a solid option if you’re looking for a quick and convenient solution to your financial issues. Best Egg is one of the leading personal loan providers in the online space – they help tens of thousands of consumers find funding every year.

Our Best Egg personal loan review will help you understand if this is the right lender for you and your family. There are plenty of different options available – so make sure that you use the lender that is best suited to your particular circumstances. Below we will explore Best Egg’s features and services to help you better approach the lending decision. If you’re thinking of using Best Egg, our Best Egg loan review is the perfect resource for you!

Best Egg: The Company

If you’re going to work with a lender, it’s important that you have a full understanding of the company and what they offer to their clients. When you borrow money from a lender, you’re entering into a long-term contract with them – you don’t want to work with someone who is unreliable or shady. Best Egg first started operating in 2014 – the company is one of the newest entrants to the online lending sphere.

Since then, the company has funded around $5 billion worth of loans, which is an impressive feat given how young the firm is. At present, Best Egg is located in Delaware.

Best Egg Personal Loan Features

Check out the different features you’ll find at Best Egg:

Best Egg Personal Loan APR: 5.99% to 29.99%

Minimum Loan Amount: $2,000

Maximum Loan Amount: $35,000

All Best Egg personal loans are unsecured personal loans.

Minimum Credit Score: 640


If you want to obtain a loan through the internet, this is a good option. Best Egg is an entirely online lender, which means you can apply for a loan from the comfort of your own home. It’s a great way to speed up the application process – they can get you financing in as little as 24 hours.

Flexible Terms

Many online and traditional lenders only have one choice of term for their customers. This can create problems if it doesn’t fit your budget or timeframe. At Best Egg, you can choose between a three and five-year term – decide which one works best for your situation!


There are plenty of online resources on the Best Egg site – you’ll be able to find all the information you need to ensure that you understand what personal loans are and how much they will cost you. If you’re still confused about personal loans, their site is a great resource.

Reasonable Average Credit Score

While there is a minimum credit score of 640, the average credit score of applicants is around 680. This is a reasonable average credit score. It suggests you’ll be able to receive financing even if you don’t have perfect credit.

Origination Fees

Origination fees are fees tacked on to the start of the loan, with Best Egg, you pay around 1-6% depending on the type of loan that you have. This adds on a bit of an extra cost, so it’s important to keep in mind when you’re making a decision on a loan.

What is a Personal Loan?

So, what exactly is a personal loan? We’ve already covered some of this topic but we’ve yet to truly dig into the specifics of personal loans. As mentioned previously, personal loans are loans that can be used for any purpose. You don’t have to tell the lender what you’re using the funds for – you’re allowed to purchase anything you want with the money you receive from the loan. For this reason, it’s much different than a mortgage or car loan. This is the primary reason that personal loans are so popular.

There are actually two primary variations of personal loans. Secured loans and unsecured loans. Secured personal loans typically have lower interest rates, but they’re tied against a specific asset such as a home or property. On the other hand, unsecured personal loans are not tied to an asset, but they do typically come with much higher interest rates. This is because unsecured loans are much riskier for lenders. Most personal loan companies that operate online provide unsecured personal loans to their customers.

Uses for Personal Loans

Now that you understand personal loans, you might be wondering what people use them for. As we said, you don’t have to have any specific purpose for a personal loan – you can even leave the money in your bank (although we don’t advise this). Either way, there are tons of reasons that people use personal loans. We’ve created this personal loan uses section to help you better understand some common reasons that you might need a personal loan.

Debt Consolidation

One of the most popular reasons people obtain personal loans is for the purpose of consolidating credit card debts, lines of credit, or student loans. All of these forms of debt typically carry very high interest rates. This makes it hard for people who are trying to pay down their current debt. If you want to be certain that you pay a reduced interest rate, you should consider using a personal loan to pay off your debt, and then pay back the loan over the term period. Just make sure that your loan interest rate is lower than your credit card interest rate.


Emergencies can often be very expensive. If you get into an accident or get sick, you might need some extra funds to help cover the costs. Many people use personal loans because of emergencies – it’s a great way to help bridge a gap in cash flow if you have a large expense arise out of nowhere.


If you’re going to purchase an item, a personal loan can help spread out the cost of the purchase. Some people find it hard to get loans for certain types of purchases, such as boats or other large types of assets. If you use a personal loan, you can purchase whatever goods or services you need without having to tell the bank. This makes it a very flexible form of finance for those who need to make large purchases.

Pros and Cons of Best Egg Personal Loans

If you’re going to choose a lender to work with, it’s important that you know both the pros and the cons. In this section, we’ll take a precise look at the pros and cons of working with Best Egg. It’s a great way of doing a final analysis of whether or not Best Egg is the type of loan company that suits your needs. Check it out below:

Best Egg Advantages

  • Quick – Best Egg is one of the quickest lenders on the market. They can often get you funds within a day.
  • Online – The fact that the company is operated entirely online makes the process quick, simple, and very convenient. It’s much better than applying through a traditional lender.
  • Good Interest Rates for Good Credit – If you’re someone who is looking for a low interest rates, Best Egg has competitive rates if you’re someone with a good credit score.
  • Plenty of Resources – If you’re looking for more information on personal loans and Best Egg services, they have a resources page that can help you out.
  • Flexible Terms – You can choose between three and five year terms.
  • Great Reviews – They have great reviews – this will be explore further on in this article.

Best Egg Disadvantages

  • Some High Interest Rates – If you have a bad credit score, you will probably still be offered a high interest rate. This rate might be higher than your credit score. Keep this in mind.
  • Origination Fees – While some new lenders don’t have any additional fees, Best Egg does have origination fees that you have to consider.

Preparing Your Application for Best Egg

If you’re going to apply for a personal loan, it’s very important that you prepare your application as much as possible. Not having the best credit score possible will seriously damage your chances of being approved. If you want the process to be painless, it pays to ensure you’re in the best position possible. If your application gets denied, it could impact your future ability to obtain a loan. Below are some top tips to improve your credit score prior to applying for a loan though Best Egg:

Pay Down Credit Card Debt

This won’t be an option for everybody, but if you can afford to pay down your credit card debt, it can seriously help your score. Those who have a large amount of credit card debt typically have lower credit score – this is because a large portion of your credit score is determined by how much of your available balance you’re using. If you pay down this balance, you can see an improvement in your score in as little as four weeks.

Check Score and Report

If you know your credit score, you might not know what your full report looks like. You are entitled to one free credit report every year from all the major reporting bodies, so you won’t have to pay to check it. More people than you realize have issues with their credit reports. If you find a mistake or an error, you can request for it to be removed. If you don’t want to do it yourself, you can request a credit repair company to help you remove certain items.

Consumer Reputation

We suggest that our readers value the consumer reputation of the lenders they’re looking to work with. There’s no better indicator of how you will enjoy the services of a company than how past customers have enjoyed their services. If you want to see what consumers think of Best Egg, make sure to check out the Best Egg loan reviews on consumer watchdog groups around the internet.

Better Business Bureau (BBB) – Best Egg Reviews BBB

The BBB is the most famous consumer watchdog website in the country. The platform provides a space for people to review companies – the BBB also provides their own ratings on companies using a mixture of consumer reviews and independent research. Best Egg has an A+ rating from the BBB – the highest rating achievable. They also have over 90% positive reviews from consumers – this is completely unheard of in the industry! This means Best Egg has an extremely high customer satisfaction rate! You can find Best Egg reviews on the BBB website.

Consumer Affairs

Best Egg is a Consumer Affairs accredited brand. The company has managed to achieve a 4.8/5 with Consumer Affairs reviewers – again, this is a clear indication of a great company. If you head to Consumer Affairs, you can find reviews on Best Egg loan company.


As you can see, Best Egg is one of the highest rated loan providers on the market. If you’re looking to work with a company that values their customers, Best Egg is a solid option. After reading Best Egg personal loan reviews, you probably understand why this company has experienced so much growth in the last four years. They also have great interest rates for people who have good credit scores – and they don’t shy away from people with average credit backgrounds.

If you’ve read Best Egg loan reviews and still find that you want to try another lender, make sure to check out some of the other reviews on our site! We are a great resource for anyone looking to obtain a personal loan.

Robert is our in-house expert on personal loans and finance. He got an MBA, specializing in Finance, before joining the workforce. After working for multiple Fortune 500 companies in the past decade, he brings a wealth of knowledge and experience to the table.