Best Egg Personal Loans Review

Our take on Best Egg

We rated Best Egg 4.4 out of 5 stars. It offers secured loans, which could make it easier to qualify or reduce your rate, along with competitive APRs (for very good and excellent credit) and fast funding. And it has a low minimum income requirement to qualify. However, Best Egg charges an origination fee of 0.99% to 9.99%, and rates for fair and good credit borrowers were better with some other lenders, on average.

Who (or what) is Best Egg best for?

• Homeowners: If you’re a homeowner, you could use your home’s fixtures to secure the loan and get an APR discount — borrowers save an average of 20% compared to unsecured loans, according to Best Egg. Unlike a home equity loan, no appraisal is required, which means you could get the loan funds sooner. (The homeowner secured loan isn't available in Connecticut, Iowa, Louisiana, Vermont, West Virginia, or Washington, D.C.) 
• Fast funding: Best Egg's average funding time was 3 days, according to 12 months of Credible personal loans data. Only three partner lenders — Upstart, Upgrade, and Universal Credit — had shorter average funding times.
• Auto-secured loans: If your car is paid off or you have equity in your vehicle, you may qualify for a Best Egg vehicle equity loan. The potential benefits include larger loan amounts (up to 250% of your car’s equity), lower rates, more flexible credit requirements, and repayment terms up to 7 years. 

Who (or what) is Best Egg not best for?

• Borrowers with bad credit: When applying through Credible, you’ll need a 600 credit score. If you have poor credit, a FICO score below 580, you should consider lenders that specialize in bad credit personal loans. 
• Origination fees: Best Egg charges an origination fee ranging from 0.99% to 9.99% of the loan amount. This one-time fee is deducted upfront from the loan funds, which means you’ll receive less than you were approved for. If you have excellent credit, you might qualify for a personal loan with no origination fee with a lender like LightStream or Citi. 

Pros and cons

Details on the pros

• Fast funding: Best Egg personal loans typically take about one to three days to fund, but the lender says that about half of its customers receive their cash the next business day. Credible personal loans data show that Best Egg's average funding time of 3 days was better than the overall average among lending partners.
• Competitive APRs: Best Egg's minimum APR is among the lowest of all Credible lending partners. Also, the minimum and maximum APRs for secured homeowner loans are even lower. 
• Secured loans available: Most personal loans are unsecured, but Best Egg offers two options for securing your loan with collateral — your home fixtures or vehicle equity. 
• Fair-credit eligible: The minimum credit score requirement when applying through Credible is 600, which is not only in FICO's fair-credit range (580-669) but just 20 points above the bad credit threshold. 
• Low minimum income requirement: You must earn at least $3,500 annually to qualify for a Best Egg loan. 
• Offers refinancing and second loans: You may be able to refinance your existing Best Egg personal loan to lower your APR. You can also apply for a second Best Egg personal loan, provided your combined balance doesn’t exceed $100,000 and you meet other eligibility criteria. 

Details on the cons

• Charges an origination fee: Best Egg charges an upfront fee between 0.99% and 9.99% of the total loan amount, depending on your credit score and other factors. Origination fees are common, but not all personal loan lenders charge them. 
• Not available in all states: Best Egg doesn’t offer personal loans to residents of Iowa, Vermont, West Virginia, Washington, D.C., or the U.S. Territories. 

How to qualify for a Best Egg personal loan

Personal loan qualification requirements vary by loan type, and Best Egg may be more flexible when considering applicants for vehicle equity loans. Generally speaking, you’ll need to meet the following criteria:

To qualify for the lowest APR available on an unsecured personal loan, you’ll need a minimum 700 FICO score and an individual annual income of at least $100,000. 

Best Egg personal loan purposes

You can use a Best Egg personal loan for almost anything, with the exception of post-secondary educational expenses, securities, or illegal activity. Approved purposes for Best Egg personal loans include:

Best Egg fees and penalties

• Origination fee: Best Egg charges an origination fee ranging from 0.99% to 9.99% of the loan amount. For 4-year terms and longer, the minimum origination fee is 4.99%. 
• Returned payment fee: Best Egg charges a $15 returned payment fee if your loan payment won’t process due to insufficient funds in your bank account. 

Best Egg doesn’t charge late payment fees or prepayment penalties. 

Best Egg vs. other lenders

Best Egg company details and history

Best Egg is a financial products company founded in 2014 and headquartered in Wilmington, Delaware. The company has funded 2.9 million loans. Best Egg’s loan products are available in all U.S. states except Iowa, Vermont, West Virginia, and D.C.

In addition, Best Egg offers Flexible Rent, a product embedded into property management payment portals that allows renters to split their monthly rent into multiple smaller payments. Best Egg previously offered a credit card but discontinued the product in 2024.

Contact information

Best Egg offers multiple options for contacting customer support. You can start by checking Best Egg’s FAQs or downloading the mobile app to access self-service options. Best Egg also offers live chat support for existing customers, which you can access by logging into your online account. Live chat is available Monday through Thursday 8 a.m. to 9 p.m. ET, Friday 9 a.m. to 7 p.m. ET, and Saturday 9 a.m. to 6 p.m. ET.

You can also contact Best Egg to inquire about personal loans by:

• Phone: 1-855-282-6353, Monday-Thursday 8 a.m.-10 p.m. ET, Friday 8 a.m.-8 p.m. ET, and Sunday 9 a.m.-6 p.m. ET
• Email: [email protected]

For vehicle equity loans, contact Best Egg by:

• Phone: 1-866-292-7514, Monday-Friday 8 a.m.-7 p.m. ET, Saturday 9 a.m.-1 p.m. ET
• Email: [email protected]

You can also mail Best Egg at:

Best Egg

PO Box 42912

Philadelphia, PA 19101

If you have questions about financial wellness tools, email [email protected].

Methodology

Credible evaluated 32 lenders across 1,216 data points to choose the best lender overall, plus top picks for different borrowers and use cases. Across lenders, we collected data on customer experience and service options, minimum and maximum fixed interest rates, minimum and maximum loan amounts, funding times, loan terms, fees, discounts, third-party reviews, and more.

We assigned a numerical value to each attribute based on how that feature compared with the same feature for every other lender in the set. Attributes were grouped into categories, scores were compiled, and categories were weighted according to their relative importance — for instance, rates and fees were weighted highest since loan cost is among the most important factors in determining loan value.

• Rates and fees: 18.75%
• Eligibility and options for bad and no credit: 17.5%
• Availability: 12.5%
• Loan amounts and terms: 10%
• Customer satisfaction: 10%
• Customer service: 10%
• Efficiency and fund delivery: 10%
• Discounts: 7.5%
• Credible proprietary data: 3.75%

We also considered each of our partner lenders' statistics over a 12-month period — including average funding times, average credit scores for approved applicants, and average rates. Learn more about how Credible rates lenders by exploring our full  personal loans lender rating methodology .

Lindsay Frankel contributed to the reporting for this article.