Review: How You Can Get a Best Egg Personal Loan in Just One Day

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Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.

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If you’re in need of fast funds, Best Egg could save the day. This lender promises to deliver a personal loan to your bank account as soon as one day after you apply. Whether you’re looking to consolidate debt or make a big purchase, Best Egg offers a secure, easy way to take out a personal loan in minutes.

Read on to learn why more than 200,000 people have chosen to borrow through Best Egg.

Most Best Egg reviews praise the company

Since it started in 2014, Best Egg has funded over $3 billion in personal loans. For the most part, customers have excellent feedback about their experience with Best Egg.

Over 550 Best Egg reviews on Consumer Affairs gave the company a five-star rating, and the company has an A+ rating with the Better Business Bureau. So why do customers like Best Egg so much? Here are some of the main pros, according to Best Egg loan reviews.

  • Fast, easy application process. Best Egg has a clear, user-friendly website and a fast personal loan application process. You can log back into your Best Egg account at any time to check on your application or manage your loan.
  • What you see is what you get. Best Egg is upfront about its loan terms and fees. You don’t have to worry about the fine print — there really isn’t any.
  • You can use the personal loan for just about anything. Although Best Egg focuses on debt consolidation, you can also take out a personal loan for home improvement, travel, or any other major expense.
  • Fixed interest rates and monthly payments. All of Best Egg’s personal loans have fixed rates, so you have a clear sense of the costs of borrowing right off the bat.
  • You don’t need to put up collateral. Best Egg’s personal loans are all unsecured.
  • You can check your rates with no impact on your credit score. After you fill out a few pieces of basic information, Best Egg will run a soft credit check to bring you loan offers. It will only run a hard credit check after you select a loan and finalize your application.
  • You can get funds in as little as one day. Assuming all the verification checks go through, you could get money in your bank account just one day after you apply.
  • It’s easy to make extra payments with no fee. Best Egg never charges a fee for prepayment, so you can pay off the loan ahead of schedule.

Some Best Egg loan reviews also reveal a few cons

Not every company is perfect, and Best Egg loan reviews also reveal a few drawbacks. Here are a few cons of borrowing with Best Egg.

  • Loans have a 0.99 to 5.99 percent origination fee. Best Egg charges a fee to process the loan. Let’s say you take out $25,000: A 0.99 percent origination fee is $248, and a 5.99 percent fee is $1,498. Some lenders don’t charge any origination fee for personal loans.
  • There’s no clear cutoff for credit score or income. Although Best Egg states that your credit history and income are important factors in approving you for a loan, it doesn’t share what you need to qualify.
  • You can’t get a repayment term longer than five years. Best Egg sets repayment terms between three and five years, so you must be able to pay off the loan within that period.
  • Best Egg doesn’t offer any APR discounts. Some lenders will reduce your rates if you sign up for autopay or make a qualifying purchase. Best Egg doesn’t offer any rate cuts.
  • Alternative payment methods come with a fee. If you want to pay by mail, rather than online autopay, Best Egg might charge a $7 processing fee.

As with most lenders, there are pros and cons to borrowing with Best Egg. Overall, Best Egg is a reputable, secure lender with competitive interest rates and fees. Plus, its fast rate quote gives you the chance to compare offers from other lenders to find the right loan for you.

Best Egg products

Best Egg is primarily a personal loan lender. You can take out a loan to pay for just about anything, including:

  • Credit card refinancing
  • Debt consolidation
  • Personal loan refinancing
  • Home improvement
  • Business
  • Vacation
  • Moving or relocation
  • Medical expenses
  • Taxes

The company encourages customers to use a personal loan to consolidate and pay off high-interest debt. For instance, you might have credit card debt with a 15.00% interest rate. You could take out a personal loan to pay off that debt, then pay back the personal loan with an interest rate as low as 5.99%.

By refinancing high-interest debt with a lower-interest personal loan, you could get out of debt faster. Then, you could focus your attention on building your nest egg for retirement.

Using the Best Egg online platform

Are you curious what kind of Best Egg loan you could qualify for? It’s easy to find out with the company’s online application. Just head to the Best Egg website and click on “Apply Now.”

best egg reviews

After entering your email, you’ll head to the first page of the loan application. It asks for a few basic pieces of information, such as the loan amount, loan purpose, and your address. You’ll also enter a password so you can sign back into your account later.

On the second page, you’ll indicate your employment status, gross income, and household income. You’ll also provide your housing payment and whether you’ve taken any credit card cash advances in the past six months.

This page also asks for your Social Security number. Remember, you don’t have to worry about a hard credit check at this point. Best Egg will run a soft credit check to verify your information and show you loan offers.

best egg loan reviews

After you fill out this second page of the application, you’ll get to see your loan offers. APRs might vary based on the repayment term you choose, along with other factors.

Once you see your loan offers, you can choose one that appeals to you. You’re under no obligation to choose a loan at this point. If you do decide to proceed, you’ll provide a few more pieces of information and consent to a hard credit check.

Assuming everything goes through, you could have the funds in your account within the day. You can also set up autopay so you can start making fee-free monthly payments toward your personal loan.

Interest rates and fees on a Best Egg personal loan

As you read above, all interest rates and monthly payments on a Best Egg personal loan are fixed. They vary based on the loan amount and repayment term.

You can take out between $2,000 and $35,000 and choose a repayment term between three and five years. Some states have their own requirements — in Massachusetts, for instance, you must borrow a minimum of $6,000.

APRs on a Best Egg personal loan range between 5.99 and 29.99%. Origination fees to process the loan range between 0.99 and 5.99% of the principal.

Online autopay is free, but Best Egg might charge a $7 processing fee for alternative payment methods, such as a check or Western Payment Quick Collect. Best Egg also charges a $15 fee for late payments.

Best Egg eligibility requirements

To qualify for a Best Egg personal loan, you must meet a few basic eligibility requirements:

  • You’re a U.S. citizen or permanent resident.
  • You’re at least 18 years old. If you’re a resident of Alabama or Nebraska, you must be at least 19 years old.
  • You have a verifiable bank account.

In addition to these requirements, Best Egg considers your income and credit history when reviewing your loan application. According to the company, it looks at these factors:

  • Information on your loan application
  • Information provided by the major credit bureaus
  • Your credit score
  • Your income and debt-to-income ratio

Although Best Egg doesn’t publicize specific minimums, you likely need a strong credit score. All of Best Egg’s personal loans are unsecured, so you need to show a solid history of debt repayment, as well as sufficient income, to qualify.

Contact Best Egg’s customer service

If you have questions about a Best Egg personal loan — or simply want to share your own Best Egg reviews — you can call customer service at 1-855-282-6353 or send secure messages through your online account.

To stay up to date on company developments, follow Best Egg on Facebook or Twitter.

Interested in a personal loan?

Here are the top personal loan lenders of 2018!
LenderAPR RangeLoan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Personal LoansFixed rates from 7.08% APR to 15.37% APR (with AutoPay). Variable rates from 5.81% APR to 14.11% APR (with AutoPay). SoFi rate ranges are current as of August 10, 2018 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.81% APR assumes current 1-month LIBOR rate of 2.07% plus 4.175% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
  2. Minimum Credit Score: Not all applicants who meet SoFi’s minimum credit score requirements are approved for a personal loan. In addition to meeting SoFi’s minimum eligibility criteria, applicants must also meet other credit and underwriting requirements to qualify.
  3. SoFi Personal Loans are not available to residents of MS. Maximum interest rate on loans for residents of AK and WY is 9.99% APR, for residents of IL with loans over $40,000 is 8.99% APR, for residents of TX is 9.99% APR on terms greater than 5 years, for residents of CO, CT, HI, VA, SC is 11.99% APR, and for residents of ME is 12.24% APR. Personal loans not available to residents of MI who already have a student loan with SoFi. Personal Loans minimum loan amount is $5,000. Residents of AZ, MA, and NH have a minimum loan amount of $10,001. Residents of KY have a minimum loan amount of $15,001. Residents of PA have a minimum loan amount of $25,001. Variable rates not available to residents of AK, TX, VA, WY, or for residents of IL for loans greater than $40,000.
  4. Terms and Conditions ApplySOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS #1121636.
    (www.nmlsconsumeraccess.org)

2 Includes AutoPay discount. Important Disclosures for Payoff.

Payoff Disclosures

  1. All loans are subject to credit review and approval. Your actual rate depends upon credit score, loan amount, loan term, credit usage and history. Currently loans are not offered in: MA, MS, NE, NV, OH, and WV.

3 Important Disclosures for FreedomPlus.

FreedomPlus Disclosures

  1. All loans available through FreedomPlus.com are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Eligibility for a loan is not guaranteed. Loans are not available to residents of all states – please call a FreedomPlus representative for further details. The following limitations, in addition to others, shall apply: FreedomPlus does not arrange loans in: (i) Arizona under $10,500; (ii) Massachusetts under $6,500, (iii) Ohio under $5,500, and (iv) Georgia under $3,500. Repayment periods range from 24 to 60 months. The range of APRs on loans made available through FreedomPlus is 4.99% to a maximum of 29.99%. APR. The APR calculation includes all applicable fees, including the loan origination fee. For Example, a four year $20,000 loan with an interest rate of 15.49% and corresponding APR of 18.34% would have an estimated monthly payment of $561.60 and a total cost payable of $7,948.13. To qualify for a 4.99% APR loan, a borrower will need excellent credit on a loan of $15,000 with a term of 24 months, and qualify for at least two of the following discounts: (1) add a co-borrower who has sufficient income; (2) use at least fifty percent of the loan proceeds to directly pay off existing debt; or (3) show proof of having at least forty-thousand dollars in retirement savings – contact FreedomPlus for further details.

4 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate DisclosureFixed interest rates from 6.49% – 19.49% (6.49% – 19.49% APR) based on applicable terms. Lowest rates range from 5.99%-18.99% (5.99%-18.99% APR), are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.

5 Important Disclosures for LendingPoint.

LendingPoint Disclosures

  • Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates (“APR”) may vary based upon LendingPoint’s proprietary scoring and underwriting system’s review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 6% may apply depending upon your state of residence. Upon LendingPoint’s final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. LendingPoint makes loan offers from $2,000 to $25,000, at rates ranging from a low of 15.49% APR to a high of 34.49% APR, with terms from 24 to 48 months. The loan offer(s) shown reflect a 28 day payment cycle which is being offered as a courtesy as many of our customers are paid on a biweekly schedule and thus this may better align the loan payment dates with your actual income receipt schedule.

6 Important Disclosures for LendingClub.

LendingClub Disclosures

All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 6.16% to 35.89%. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at time of application. The origination fee ranges from 1% to 6% and the average origination fee is 5.49% as of Q1 2017. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via LendingClub have a minimum repayment term of 36 months or longer.


7 Important Disclosures for Earnest.

Earnest Disclosures

  1. Earnest does not lend in Alabama, Delaware, Kentucky, Nevada, or Rhode Island.

8 Important Disclosures for Avant.

Avant Disclosures

* The actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. Funds are generally deposited via ACH for delivery next business day if approved by 4:30pm CT Monday-Friday. Avant branded credit products are issued by WebBank, member FDIC.

** Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33


* Important Disclosures for Upgrade Bank.

Upgrade Bank Disclosures

* Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. This rate includes an Autopay APR reduction of 0.5%. By enrolling in Autopay your payments will be automatically deducted from you bank account. Selecting Autopay is optional. Annual Percentage Rate is inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. All loans made by WebBank, member FDIC. Please refer to Upgrade’s Terms of Use and Borrower Agreement for all terms, conditions and requirements.

** Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.

7.73% – 29.99%$1,000 - $50,000Visit Upstart
5.81% – 15.37%1$5,000 - $100,000Visit SoFi
6.87% – 35.97%*$1,000 - $50,000Visit Upgrade
8.00% – 25.00%2$5,000 - $35,000Visit Payoff
4.99% – 29.99%3$10,000 - $35,000Visit FreedomPlus
5.99% – 18.99%4$5,000 - $50,000Visit Citizens
15.49% – 34.49%5$2,000 - $25,000Visit LendingPoint
6.16% – 35.89%6$1,000 - $40,000Visit LendingClub
5.49% – 18.24%7$5,000 - $75,000Visit Earnest
9.95% – 35.99%8$2,000 - $35,000Visit Avant
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.

Published in Loans, Review