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Best Egg Personal Loans Review

Best Egg offers personal loans to borrowers with good credit. If you qualify, you can use the funds for a variety of purposes.

By Matt Carter
Matt Carter

Written by

Matt Carter


Matt Carter is an expert on student loans. Analysis pieces he's contributed to have been featured by CNBC, CNN Money, USA Today, The New York Times, The Wall Street Journal and The Washington Post.

Edited by Savannah Plasch

Written by

Savannah Plasch

Savannah is an Editorial Assistant at Credible. She earned her BA from UCLA in 2020 and is currently pursuing her MFA in Creative Writing at Queens University of Charlotte.

Updated March 26, 2024

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances.

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Most likely to be approved if you prequalify

Best Egg is an online lending platform that’s developed a sophisticated method of evaluating borrowers to make more than $14 billion in personal loans to upwards of 1 million people. And according to internal Credible data, it's most likely to approve prequalified applicants for a personal loan relative to partner lenders. 

Plus, Best Egg’s advertised rates are fairly low, which could make the company a good choice for debt consolidation. Just keep in mind that you’ll need a minimum FICO Score of 600 to qualify for a Best Egg loan.

But keep an eye on origination fees, which range from 0.99% to 8.99%. If you choose a five-year repayment term, Best Egg says your origination fee will be at least 4.99%. The origination fee helps protect Best Egg if you decide to refinance with another company or pay your loan off early. Best Egg doesn’t charge prepayment penalties for paying off your loan early.

Best for high close rates if pre-approved

Best Egg


Credible Rating

Check Rates

on Credible’s website

Est. APR

8.99 - 35.99%

Loan Amount

$2000 to $50000

Min. Credit Score


Pros and cons

More details

Read More: How Personal Loans Affect Your Credit Score

How to qualify

In addition to your credit score, Best Egg looks at more than 1,500 “proprietary credit attributes” from sources that include external data providers and your “digital footprint.” That means Best Egg might be more willing to work with you — or provide a loan at a better interest rate — than traditional lenders. To qualify for a personal loan from Best Egg, you’ll need:

  • A minimum credit score of 600
  • Verifiable income that supports your ability to repay your loan
  • To be a U.S. citizen or permanent resident of any state except Iowa; Vermont; Washington, D.C.; or West Virginia

Once your information has been verified and you’ve been approved, Best Egg can deposit your money directly into your bank account within one to three business days. Best Egg says about half of its customers get their money the next day.

Read More: Personal Loan Requirements


You’ll repay a Best Egg personal loan over two to five years. You can make payments online, by phone, or through the mail. If your payment is more than three days late, expect to pay a $15 late fee.

You can accelerate your loan repayment without being charged a prepayment penalty. If you make more than your monthly minimum payment, the additional funds will first be applied to any applicable accrued interest from fees, then to your loan principal.

How Best Egg compares to other lenders

Here’s how Best Egg compares to similar personal loan lenders:

Credible rating

APR from8.99 - 35.99%
Loan Amount$2000 to $50000
Term Length2 - 5
Min. Credit Score600

Credible rating

APR from8.98 - 35.99%
Loan Amount$1000 to $40000
Term Length2 - 5
Min. Credit Score660
Read Our Review

Credible rating

APR from6.99 - 25.49%
Loan Amount$5000 to $100000
Term Length2 - 7
Min. Credit Score700
Read Our Review

LendingClub’s maximum loan amount is smaller than Best Egg, but its minimum credit score requirement is the same. And while you can borrow up to $100,000 with LightStream, you’ll need a slightly higher credit score to qualify. All three lenders offer fast funding times.

How to take out a personal loan with Best Egg

To take out a personal loan with Best Egg, you can apply through the company’s website. It’s always a good idea to check rates with the best personal loan companies to make sure you’re not overpaying.

What to consider before applying for a Best Egg personal loan

Best Egg earns high marks from reviewers and provides competitive rates on personal loans, particularly to borrowers with credit scores of 700 or above. But Best Egg could improve by:

  • Providing an autopay rate discount: Best Egg could reward borrowers who elect to make automatic payments, rather than penalizing those who don’t.
  • Lowering (or getting rid of) origination fees: Borrowers taking out 5-year loans pay an upfront fee of 4.99%.
  • Upping its loan limits: Best Egg offers loans of up to $50,000 to select borrowers through the mail, but the company’s $35,000 limit for online applications falls short of other lenders.

Before you borrow, it’s a good idea to shop around and compare offers from multiple lenders to find the right loan for you. Credible makes this easy — you can compare your rates from Best Egg and other lenders in two minutes.

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Meet the expert:
Matt Carter
Matt Carter

Matt Carter is an expert on student loans. Analysis pieces he's contributed to have been featured by CNBC, CNN Money, USA Today, The New York Times, The Wall Street Journal and The Washington Post.