Adriana C.
Verified BorrowerWould you recommend this product? No
It went fine.
Best Egg 2026 Personal Loan Review
4.4
Est. APR
6.99 - 35.99%
Min. credit score
600
Time to fund
Next business day
Loan amount
$2K - $50K
Loan term
3 to 5 years
Origination fee
0.99% to 9.99%
Best if you
- Prefer a secured loan.
- Want to pre-qualify with a soft credit check.
- Want to directly pay your creditors.
Not Ideal if you
- Want to avoid an origination fee.
- Have bad credit or high debt levels.
- Want to add a co-borrower or co-signer.
- Prefer a short repayment term.
What to know about Best Egg personal loans
Best Egg is an online lender that’s one of our top picks for secured personal loans and for working with borrowers across credit situations — though a 600 credit score is required.
The lender offers both unsecured loans and secured loans. Unsecured loans are guaranteed primarily by your creditworthiness and ability to repay, and secured loans are backed by collateral that the lender can seize if you don’t make payments. Of the roughly 35 lenders NerdWallet rates, only about a third offer secured personal loans.
Best Egg lets you use permanent home fixtures, like cabinets, lighting and vanities as collateral for secured loans. The lender says the average borrower who opts for a secured loan gets an annual percentage rate that’s about 20% lower than its typical unsecured loan APR.
I’d like to see Best Egg offer other collateral options; otherwise, you’ll need to own a home to lock in these savings. If you don’t own a home, though, some lenders also accept a savings account or vehicle as secured loan collateral.
Overall, Best Egg’s APRs are fairly typical, ranging from 6.99% to 35.99% for unsecured loans. Secured loan APRS are between 5.99% and 29.99%. However, the lender says its average borrower has a good credit score (690-719) and gets an APR between 20% and 24.99%. NerdWallet’s aggregate data on pre-qualified loan offers suggests that borrowers with a similar credit profile often receive lower personal loan rates than borrowers whose profiles are not as strong. I’d recommend pre-qualifying with Best Egg and a few other lenders to ensure you find the best offer.
Make sure you also account for the lender’s onetime origination fee of up to 9.99%. This charge is subtracted from your loan funds, so ultimately, you’ll receive less money than you borrow.
Best Egg personal loans are available in amounts of $2,000 to $50,000 with repayment terms of three to five years. Though you may prefer a smaller loan or shorter repayment term if you need to borrow for a onetime expense, that range is broad enough to cover various financing needs.
» MORE: Compare the best personal loans
What the nerds think
Best Egg personal loans could be a decent fit for borrowers with at least fair credit, especially if you own a home and choose a secured loan to score a lower rate. Unlike with a HELOC or home equity loan, where the entire home is collateral, a Best Egg loan is secured by a lien on the permanent fixtures in the home. That’s a bit less risky because you don’t stand to lose your entire home. You also can get faster funding compared to traditional home equity financing since there’s no appraisal required.
Robin Hartill, CFP®Contributing Writer
What we like most about Best Egg
- You can get a secured loan if you’re a homeowner: If you own your home, you can apply for a Best Egg secured loan using permanent home fixtures as collateral. Most lenders only offer unsecured personal loans. Securing a loan with an asset can help you qualify for a loan or obtain a better rate. If you go with a secured loan, the lender will place a lien on your home fixtures. You’ll then need to satisfy the lien (typically by paying off the loan) before you can sell or refinance your home.
- You can pre-qualify without hurting your credit score: Best Egg lets you pre-qualify for a loan with a soft credit check. If you get an offer, you’ll be able to see your potential loan amount, rate, repayment term, monthly payment and total interest cost without it affecting your credit. And you may receive multiple offers to choose from.
- You can directly pay your creditors with loan funds: You can send loan funds directly to your creditors if you’re using your loan for debt consolidation – which is the most common reason borrowers get a Best Egg loan. Not all lenders offer direct payments to creditors. Sending funds directly to creditors is often convenient, plus you won’t be tempted to spend money intended to pay off debt.
Why Best Egg may not be right for you
- You may not qualify if you have bad credit or high debt levels: Best Egg requires at least a 600 credit score and works mostly with borrowers who have at least fair credit. The lender also has a maximum debt-to-income ratio of 70%, including a mortgage payment. If you don’t meet Best Egg’s requirements, some online lenders provide personal loans for bad credit and work with borrowers who have scores in the 500s or lower. I’d also suggest checking with a credit union, especially if you’re already a member, since they often have flexible underwriting rules.
- You’ll pay an origination fee: Best Egg charges an upfront origination fee of 0.99% to 9.99% for unsecured loans. For secured loans, the origination fee is 1.49% to 9.99%. Not all lenders charge an origination fee, but it’s most common with online lenders. Best Egg subtracts the origination fee from loan funds, meaning you’ll receive less than you borrowed. For example, if you take out a $10,000 loan with a 5% origination fee, you’d only get $9,500 after the fee is deducted.
- You can’t add a co-borrower or co-signer: Unlike some lenders, Best Egg doesn’t let you apply for a loan with a co-borrower or co-signer. Adding a co-borrower or co-signer to your application who has good credit and low debt levels can boost your odds of approval or help you qualify for a lower rate.
- You’ll need to pay off your loan in three to five years: While some lenders have repayment terms as short as a year or two and as long as seven years, Best Egg only offers 3-, 4- and 5-year repayment terms. If you’re financing a relatively small amount that you can pay off quickly, I’d suggest going with a lender that offers 1- or 2-year repayment terms since you typically pay less interest with a shorter term. Another option is to make extra loan payments. Like most lenders, Best Egg doesn’t charge a pre-payment penalty.
How much does a Best Egg personal loan cost?
The total cost of your Best Egg loan depends on the amount borrowed, annual percentage rate and loan term. Here is an example of how different rates affect the costs of a $15,000 loan with a 5-year term. The lender told NerdWallet its average borrower gets an APR between 20% and 24.99%.
APR | 15% | 25% |
|---|---|---|
Monthly payment | $357 | $440 |
Total interest cost | $6,411 | $11,416 |
Total loan cost | $21,411 | $26,416 |
» MORE: Use our personal loan calculator to estimate your costs
Do you qualify for a Best Egg personal loan?
You’ll generally need at least fair credit to qualify for a Best Egg personal loan. The lender works with borrowers who have at least a 600 credit score and a debt-to-income ratio no higher than 70%, including a mortgage. Income requirements vary by state.
Best Egg lets you pre-qualify with a soft credit check, which doesn’t hurt your credit. Pre-qualifying with a few different lenders to find the best offer for you is a smart move so you can compare rates and terms.
Best Egg personal loans are available in 47 states. They aren’t available in Iowa, Vermont, West Virginia, Washington, D.C. or U.S. territories.
Best Egg’s borrowing requirements
- Minimum credit score: 600.
- Minimum income: Varies by state.
- Maximum debt-to-income ratio: 70%, including mortgage.
- Minimum credit history: 3 years and 1 account.
- No previous bankruptcies.
- Must be a U.S. citizen with a Social Security number and U.S. bank account.
- Must provide proof of employment/income.
Profile of an average Best Egg borrower
- Average loan amount: $10,000 to $20,000.
- Average APR: 20% to 24.99%.
- Most common loan term: 5 years.
- Most common loan purposes: Debt consolidation.
- Average borrower’s credit score: 690 to 719.
- Average annual income: $100,000 or higher.
- Average borrower’s debt-to-income ratio: 31% to 50%.
» MORE: How to get a personal loan
Frequently asked questions
Q: Does Best Egg let you change your payment date?
A: Yes, Best Egg lets you change your payment date twice during the life of the loan; however, the lender doesn’t let you choose your payment date when you sign your loan agreement.
Q: Does Best Egg let you check your credit score for free?
A: Yes, Best Egg’s mobile app offers free credit score access. The lender also enrolls all borrowers in its free Financial Health Tool, which lets you monitor your credit score, build budgets and track your spending.
Q: What is an origination fee?
A: A personal loan origination fee is an upfront expense some lenders charge to cover administrative costs to process the loan. The fee is typically from 1% to 10% of the loan amount.
Q: What is a DTI ratio?
Your debt-to-income ratio, or DTI, divides your total monthly debt payments by your gross monthly income. It is usually expressed as a percentage. Lenders factor in your DTI during the loan approval process.
How does Best Egg compare to the best lenders?
 |  |  |  |  |
|---|---|---|---|---|
Est. APRFrom 6.99% to 35.99% | Est. APRFrom 6.99% to 35.49% | Est. APRFrom 5.96% to 35.99% | Est. APRFrom 7.24% to 24.89% | Est. APRFrom 7.74% to 35.99% |
Loan amountFrom $2,000 to $50,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 |
Min. credit score600 | Min. credit scoreNaN | Min. credit score600 | Min. credit score660 | Min. credit score600 |
How we rated this lender
NerdWallet’s editorial team rates lenders using a rubric with five weighted categories and 29 subcategories. Here are the factors we prioritized, plus why this lender received each score.
Overall rating
4.4/5
Affordability25% of rating
3.6/5
Best Egg’s APR range is fairly typical for personal loans, and it charges an origination fee. Rate discounts aren’t available.
Our Method: We review lenders’ rates and fees, plus any opportunities for rate discounts.
Customer experience20% of rating
4.6/5
Best Egg reports to all three credit bureaus and has customer service available six days a week. You can’t choose your payment date, but you can change it twice during the life of the loan.
Our Method: We look at factors such as customer service availability, monthly payment flexibility and whether the lender reports on-time payments to major credit bureaus.
Loan flexibility20% of rating
4.5/5
Best Egg provides small, medium and large unsecured and secured loans, with three different repayment terms available.
Our Method: We assess loan amount and term ranges and whether lenders offer multiple loan types or direct payment to creditors on debt consolidation loans.
Underwriting and eligibility20% of rating
5.0/5
Best Egg lets you pre-qualify with a soft credit check and offers loans in 47 states. No existing relationship with the lender is required to qualify.
Our Method: We consider how widely available and accessible the loans are and how lenders review applicants’ credit.
Application process15% of rating
4.4/5
Best Egg’s pre-qualification process gives you most loan details and offers same-day decisions. Next-day funding is available. The lender does not clearly display its APR range on its website.
Our Method: We evaluate loan approval and funding times and the lender’s transparency throughout the application process.
Read more about our ratings methodologies for personal loans.
Best Egg borrower reviews
4.5out of 5
(21 reviews)
94%
Would recommend
this product
Rating Breakdown
5
(13)4
(6)3
(2)2
(0)1
(0)Sort by:
Roberto M.
Verified BorrowerWould you recommend this product? Yes
It went well. There was some bumps with them processing like the voided check and accepting it, but after that was sort of kinked out, then it was a good experience.
Srinivasan S.
Verified BorrowerIt was okay. I got it and I'm fine with it, but no more comments.
Francis P.
Verified BorrowerWould you recommend this product? Yes
It went pretty well, but I'd say probably, I don't know, about a few days after I accepted the loan, I got a better rate from American Express. So I just ended up folding that loan into a new loan with American Express, because it was just a better APR.
Timothy W.
Verified BorrowerWould you recommend this product? Yes
It was smooth. It was good. Smooth.
User reviews are displayed for informational purposes only and are not monitored for accuracy. These reviews do not reflect the opinions of NerdWallet or the financial institutions referenced and are not endorsed by them. Neither NerdWallet nor the financial institutions are responsible for the content of any review, nor are the financial institutions obligated to respond to or address any user posts.
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