Best Egg Review: Personal Loans 2020

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Best Egg ReviewBest Egg is one of the newer major online lenders, dating back to just 2013. Their loans are marketed heavily towards consolidating debts. Chances are you’ve received mail from them offering you a loan as they do a large amount of direct mail marketing. Read our Best Egg review to see if they are your best choice for your next loan.

Best Egg Quick Info

APR Range5.99% - 29.99%
Loan Amounts$2,000 - $50,000
Average Loan$15,000
Origination Fee0.99% - 5.99%
Loan Duration3 - 5 Years
Time to FundGenerally Next Day
Soft Credit Check?Yes

Who Is the Typical Best Egg Borrower?

  • They have a good credit score. Best Egg has a minimum requirement of 640 but the average is a 715.
  • They have an established credit history. The average is about 10 years.
  • Their income is higher than the national median of $53,000.
  • They get funded quickly. Loan are often funded in just a day.
  • They don’t need a lot of extras. Many of the other lenders offer extras like budgeting apps, career counseling and meetups, Best Egg does not.

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Best Egg Review

While Best Egg has only been around since 2013 they have already lent over $2 billion, which is pretty impressive.

Their range of loans isn’t quite as extensive as some of the other lenders, there are no mortgage or specialty loans. Their focus is on personal loans which can be used for refinancing existing debts or to pay for personal expenses like home improvement, vacations, etc. We’d highly recommend you not take out a loan for a vacation unless you have solid plan to pay it back quickly. Otherwise, you’re just taking a vacation with interest.

One thing that really stood out about Best Egg is that their overall reviews are outstanding. As you can see in the next section the average customer reviews on the BBB, Credit Karma and Consumer Affairs are all very high. Customers seemed very happy with how quick and easy the entire process was, from application to quick funding.

You are not going to get all the perks like Prosper’s money management app or SoFi’s career services. But for a solid loan, Best Egg seems to be good at keeping their customers happy.

Best Egg Reviews From Around the Web

Better Business Bureau4.8 out of 5 stars 4.75/5 - 61 Reviews
Credit Karma4.6 out of 5 stars 4.6/5 - 187 Reviews
Nerd Wallet4 out of 5 stars 4/5
Consumer Affairs5 out of 5 stars 5/5 - 173 Reviews

Best Egg Fees and Penalties

  • Origination fee: .99% to 5.99% of the loan amount
  • Prepayment fee: None
  • Late fee: $15
  • Check processing fee: None
  • Declined payment fee: $15

Business Contact and Profile for Best Egg

Name:Best Egg
Phone:(302) 358-2739
Address:1523 Concord Pike, Suite 302
Wilmington, DE 19803
Business Started:2013
Type of Business:Financials Services, Loans
Principal:Mr. Jeffrey Meiler, CEO
BBB Accreditation:This business is accredited with the BBB and has an A+.

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