Best Egg

time icon 6 min read update icon Dec. 12, 2019
16 Ratings - Write Review
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Best Egg is a personal loan company with a mission to make the borrowing process a seamless feat.

A Best Egg personal loan is a great option if you are looking to consolidate debt or reduce your credit card balances at a lower interest rate. In fact, a personal loan can be used for a variety of other expenses, as well, from home renovations to vehicle repairs. Best Egg gives borrowers the option to pay off their loans sooner than originally scheduled, with no penalties. These flexible terms present a favorable repayment option, better than many other loan alternatives. 

Grandfolk Scoring
Funding time 10/10
Loan amounts 8/10
Credit score 10/10
Early payoff penalties 8/10
Payment options 8/10
Restricted states? 8/10
Loan origination fee 8/10
Customer Support 10/10
Cancellation 8/10
Cost 9/10
Warranty 7/10
Ease 10/10
Funding time
How long will it take to fund a loan?
Most loans are funded within 24 hours
Loan amounts
What are the maximum and minimum loans offered?
Credit score
Will the approval process hit my credit?
The process will make a soft hit, which will not affect your credit score
Early payoff penalties
Is there a penalty if I pay off my loan early?
No penalty for early payoff
Payment options
What options do I have to pay off my loan?
EFT, online, mail, Western Union Quick Collect
Restricted states?
Is the service available in all states?
Residents of Iowa, Vermont and West Virginia cannot apply
Loan origination fee
Is there a financing fee?
Yes, origination fees are 0.99-5.99 percent of the total loan
Customer Support
When is customer service available to help?
Customer service is available 24/7 (by phone and online)
Cost or difficulty to cancel?
Loans must be paid in full
Monthly fee
Depends on your loan amount, and other factors
Is a warranty available?
No Warranty
How easy to put to use?
Very easy; call or email to get started
Age Score:
50-64 Years
65-74 Years
75-84 Years

If you are looking to obtain a personal loan, Best Egg may be worth looking into. The company’s quick approval time of 24 hours and low annual percentage rates of 5.99-29.99% are refreshing when compared to the competition. Additionally, Best Egg’s three or five-year payout term is an attractive for those looking for a flexible, yet shorter, term to repay their loans. Best Egg makes repaying the loan an easy process, no matter your age. You can make monthly payments by setting up an automatic electronic funds transfer or by paying online. If you have a distant relationship with technology, Best Egg allows you to mail in check payments or make a payment at a Western Union location. 

One drawback is that Best Egg does not process phone payments. This could be an inconvenience if you are not tech-friendly or do not have means to visit a Western Union. Most seniors who are transitioning or settling into the retirement phase of their lives are no longer working or earning an annual income. To qualify for the lowest APR rate of 5.99 percent, Best Egg has a strict approval requirement of a credit score of at least 700 and an annual individual income of at least $100,000. These requirements seem unfeasible for most people who need a loan. 

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An advancing health condition doesn’t diminish the value that a Best Egg personal loan can provide. However, an advancing health condition could affect an applicant’s ability to repay the loan. Best Egg charges $15 for each late payment and/or each returned payment. To reduce the possibility of missed payments and additional fees if you are experiencing a chronic health condition, EFT may be an ideal payment choice. Furthermore, if the applicant has a declining health condition that affects comprehension, necessary means should be taken to assure that all terms of the contract are understood. 

Recent reviews have cited affordability as an issue with Best Egg’s loans. These negative reviews could be directly related to the number of claims by customers who considered using Best Egg’s service to consolidate their credit card debt, only to find themselves being ushered into a loan term at a higher interest rate than they were originally paying. In their reviews, these customers explained that they did not fully understand the terms of the contract. In cases like these, using Best Egg could possibly leave you in greater financial hardship. 


  • Best Egg gives its borrowers the opportunity to pay off their loans earlier than scheduled with no penalty.
  • Most loans are approved (or denied) the same day you apply.
  • Best Egg offers decent rates that may be a great option for debt consolidation. 
  • Best Egg provides fixed payments and a fixed payment period (although you can still pay off your loan early).
  • The approval process includes a ‘soft pull’ of the applicant’s credit report. This does not affect the applicant’s credit score. 
  • Best Egg does not share your information with anyone except the third parties who assist in servicing the loan.


  • To qualify for the prime rate and terms, applicants should have a credit score of at least 700 and an annual individual income of at least $100,000.
  • Best Egg offers payback periods of three years or five years. Best Egg cannot accommodate applicants that desire a longer loan repayment window. 
  • You may receive ‘Pre-Approved’ offers in the mail, only to apply and find out that you are denied.

Bottom Line:

Best Egg is an online personal loan provider that strives to provide personal loans with low interest rates and fees. As with other lenders offering comparable services, there are advantages and disadvantages to using Best Egg. Overall, Best Egg is a sound, secure with competitive interest rates and fees. The approval process is quick; however, its strict approval guidelines make this company less desirable to the average applicant looking for a loan for debt or consolidation. 

Marlette Funding, LLC nominated the Best Egg platform as a “Top Consumer Lending Platform.”

If you have a solid credit history and are looking to do business with a reputable company, Best Egg may be a great option. With advertised APRs of 5.99 to 29.99%, Best Egg is definitely an option worth considering. 

Frequently Asked Questions:

What is required to obtain a Best Egg loan?  

To apply, you must be either a U.S. citizen or permanent resident. A verifiable bank account is also required. In addition, other information such as annual income, credit score and debt to income ratio is considered.

How long will it take for my loan to get funded? When will I get the money?

After you apply for a loan with Best Egg, you can receive an approval in as little as a few minutes. Upon approval, your money will be sent electronically to your bank account. In most instances, applicants receive their funds within one business day. 

How do I make payments?

There are many repayment options with Best Egg. If you choose Electronic Funds Transfer (EFT), funds will automatically be drafted from your account. There is a $7 processing fee for each payment. Another payment option is to pay online through the website. Check and money order payments can be mailed in, but you need to allow 5-7 business days for your payment to reach the company. Finally, Western Union Quick Collect accepts payments for a flat fee. 

More Information:

Product Details 

Overview: Best Egg is a personal loan option for individuals with good to excellent credit. Applicants with credit scores above 640 are accepted, however, to qualify for the best rates, a credit score of at least 700 is required. In addition, the applicant will need at least ten years of positive credit history and have an annual individual income of at least $100,000 to qualify for the best rates available.

●    Package Details: N/A

●   Optional Accessories or Add-on Services: N/A

Additional Company Details 

●    Contract Details: 

Loan amounts range from $2,000 to $50,000. You can choose from a loan term of three or five years. APRs range from 5.99-29.99%. Origination fees range from 0.99-5.99%. Funds are usually available within one business day. Loans can be repaid through EFT, online payments, mail or Western Union Quick Collect.       

●    Warranty: N/A 

●    Accreditations: Best Egg has an accredited business profile with the Better Business Bureau. It maintains a rating of A+.  

●    Company Details: Best Egg was originated by Cross River Bank. This loan service has helped thousands of customers borrow billions of dollars in personal loans since its origination in early 2014. Best Egg’s winning approach is an easy online application that permits qualified applicants to see loan approval offers within seconds. Best Egg employs 20 full time employees and has a client retention rate of 88%.


Best Egg
1523 Concord Pike, Suite 302 
Wilmington, DE 19803
Tel: 855-282-6353

T. Mashae Pearson - Senior Advisor

Shae is senior researcher with Grandfolk® providing in-depth product and service reviews to empower senior buying decisions.