BestEgg offers a variety of personal loans with competitive rates and terms. Customers can borrow up to $50,000 to consolidate debt, cover large purchases, or refinance their credit cards.
When you take out a personal loan through BestEgg, you also gain access to credit tools and resources that help you manage your credit score. Unlike many other loan providers, BestEgg does not currently have a mobile app that allows customers to track their loan progress and make payments.
BestEgg requires you to be at least 18 years old and a legal US citizen to qualify for one of their loans. You’ll have to provide your physical address, birthday, and social security number during the application process. You must also be employed and be able to provide proof of income and employment when applying for a loan.
To qualify for a loan, you must have a credit score of at least 640. You’ll be approved for better rates and terms with good or great credit. Check your credit before applying for a loan and resolve any minor issues to be sure you’re qualifying for the best rates possible.
Start out by checking the rates you qualify for using the BestEgg personal loan calculator. You’ll be able to see how much you’ll pay per month based on how much you want to borrow, the terms you’re seeking, and your creditworthiness. You don’t have to provide any personal information for BestEgg to calculate your potential monthly payment.
After using the personal loan calculator, you can view the rates you qualify for by providing BestEgg with some personal information. To see the rates you prequalify for, you’ll have to supply BestEgg with your name, date of birth, email address, phone number, and physical address.
BestEgg will also ask you to disclose information about your income, employment status, and housing payments to help determine your debt-to-income ratio. Once you provide all of this information, BestEgg will run a soft credit check to give you the rates you prequalify for. You’ll be able to see loans available through BestEgg with varying rates and terms to find the one that’s best for your needs and budget.
When you find the right loan and accept the loan offer, BestEgg runs a hard credit inquiry to check your creditworthiness and provide your final rate. You’ll be asked to verify the information you provided during the application process. This includes producing the necessary documentation to confirm your identity, employment information, income, and credit score.
BestEgg delivers funds into your account in 1-3 business days after application approval. Some customers report getting funds as quickly as 24 hours after approval. If you signed up for Direct Pay, BestEgg will send funds directly to the creditors you indicated during the application process.
BestEgg offers secured and unsecured personal loans. How much you can borrow depends on the state you live in. Loans are available in amounts from $2,000 to $50,000 in most states. Residents of Massachusetts are required to borrow at least $6,500, Georgia residents must borrow at least $3,000, and residents of New Mexico and Ohio are required to borrow at least $5,000.
Repayment terms will depend on your credit score, the loan amount, and your debt-to-income ratio. BestEgg has loan offers with 36-month, 48-month, and 60-month repayment terms. If the loan you qualify for is eligible for flexible repayment terms, BestEgg will let you change your monthly payment due date so that it fits into your monthly budget.
APR rates for BestEgg personal loans range from 5.99% to 29.99%. The rate you qualify for will depend on a number of factors that include your creditworthiness, the loan terms, and the amount you’re borrowing. You don’t need to have good credit to qualify for a loan, but borrowers with a credit score of 700 or more will be eligible for the best APR rates.
Personal loans can be used to pay off debts or plan for upcoming expenses. BestEgg offers loans for the following situations:
Loan and credit card debt consolidation : Combine multiple debts into one payment with this type of loan that has low, fixed interest rates.
Home improvements : Transform your home with a loan that helps you finance renovations and repairs.
Moving expenses : This type of loan makes managing the costs of relocating easier.
Major purchases : You can help cover large unexpected expenses like car repairs or broken appliances with this type of loan.
Family changes : If you’re bringing a new child into your family, this type of loan will help you cover all of the costs associated with baby births and adoptions.
Special occasions : BestEgg will help you finance a wedding, party, or other special events.
Vacations: Plan your next trip your way with this loan that will help finance your next vacation.
Customer service from BestEgg is available by phone six days a week. You can call BestEgg from 8 AM until 10 PM ET Monday through Thursday. Phone support is open from 8 AM until 8 PM ET on Fridays and from 9 AM until 6 PM on Saturdays. BestEgg can also be reached by email or by direct message on social media. The company has active pages on Facebook, LinkedIn, Instagram, Twitter, and YouTube.
The BestEgg website has a Resources section with articles that teach about topics like financial planning, personal loans, understanding debt, and more. You can learn about how APR works, how refinancing can impact your credit, and how to lower your debt-to-income ratio. The site also features tools and calculators to give you a picture of your financial situation and help you plan for the future.