Best Egg, an online loan lending platform is unique in the fact that lenders can borrow twice, as in they can take out two loans at the same if needed. If you are interested, continue reading the review to find out if Best Egg could benefit you.
Right now, Best Egg is offering loans up to $35,000 with rates as low as 5.99%!
As long as you meet the requirements to qualify for a personal loan from Best Egg, you can take advantage of this and take out a loan towards anything you want.
Best Egg Information
Apply for a personal loan today at Best Egg
| Lender | Best Egg |
| APR | 5.99% – 29.99% |
| Loan Amount | $2,000 – $35,000 |
| Term Length | 3 or 5 years |
| Origination Fee | 0.99% to 5.99% |
| Prepayment Fee | None |
| Autopay Fee | $7 per payment |
| Late Fee | $15 |
| NSF Payment Fee | $15 |
| Minimum Gross Income | $80,000 |
| Minimum Credit Score | 640 |
| Repayment Options | Monthly |
Best Egg Overview
Borrower’s Average
- Credit Score: 700
- Credit History: you need at least 7 years of credit
- Annual Income: $80,000
Best Egg Personal Loan Eligibility
To qualify for a Best Egg personal loan, all applicants must have:
- A minimum credit score of 640 or above
- At least 3 years of credit history
- An average minimal income about $80,000
- A low debt-to-income ratio less than 35%
Pros and Cons of a Best Egg Personal Loan
- You can borrow twice with Best Egg! If you need to take out a second loan, make sure your first loan is at least 6 months old and you don’t have any late payments to handle. The total of both loans also must not exceed $50,000.
- You don’t need to own a home to apply.
- The application is simple and easy to follow.
- Initial credit check will not affect your credit score. However when your loan is approved, it will show up on the report.
- When approved, funding takes as little as one business day.
- A personal loan from Best Egg can be used towards small business, debt consolidation, home improvement, medical bills and other special occasions.
- If you have excellent credit score, your APR can be as low as 5.99%.
- You can make additional payments if you want. There are no extra fees for paying you loan ahead of time either.
- Unfortunately, Best Egg is not available in all states. Best Egg is not available in Iowa, West Virginia, Vermont, Puerto Rico or Guam.
- You are only limited between either a 3 year term or 5 year term.
- You will be charged $7 per payment if you aren’t enrolled in automatic payments.
- If you miss your payment by more than 3 days, Best Egg will charge you $15.
- If your payment gets rejected, you have to pay $15 for the unsuccessful transaction.
How To Apply For a Best Egg Personal Loan
- Fill out a brief personal loan application on Best Egg’s website for your desired loan amount.
- Get a copy of your credit report. The minimum amount to qualify for Best Egg personal loan is 640.
- Present a proof of income of at least $80,000.
- You will need to present your identification card.
- Pay all your debts first. The debt-to-income ratio is less than 35%.
Conclusion
If you happen to need to take out two loans at the same time and you have pretty good credit history or just enough to qualify, then Best Egg can assist you with your personal loan needs.
They are flexible in the fact that you can take out a personal loan towards anything whereas some lending platforms limit you to certain expenses.
These loans are unsecured at a fixed rate for the whole term length and there are no penalties for early payments either.
(Visit Best Egg for more details)
