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Best Egg Personal Loan Review 2026

Flexible unsecured and secured loans with fast funding and a lower origination fee floor (0.99%) for fair to good credit borrowers.

CMBMV Staff · Updated March 2026

Quick Stats

APR Range
8.99%–35.99%
Loan Amount
$2,000–$50,000
Loan Terms
3–5 years
Origination Fee
0.99%–8.99%

Overview

Best Egg is a digital lending platform that offers both unsecured personal loans and secured loans (backed by savings). The unique feature is the option to secure your loan with a savings deposit to lower your APR and access better terms. Best Egg approves borrowers with fair to good credit and emphasizes fast funding (as fast as 1 business day). Their low origination floor (0.99%, among the lowest in the industry) is a competitive advantage.

Best Egg Rates & Fees

Item Details
APR (Unsecured) 8.99%–35.99%
APR (Secured) Lower (if backed by savings)
Origination Fee 0.99%–8.99%
Late Payment Fee Up to $25
Prepayment Penalty None

Pros and Cons

Pros

  • Lowest origination fee floor: 0.99%
  • Secured loan option (lower rates if backed by savings)
  • Fast funding (1 business day possible)
  • No prepayment penalty
  • Competitive rates starting at 8.99%
  • Flexible terms (3–5 years)
  • Approves fair credit borrowers

Cons

  • Origination fee can reach 8.99% at upper end
  • APR up to 35.99% for fair credit
  • Late fees (up to $25)
  • Secured loan requires savings deposit (capital intensive)
  • Minimum loan $2,000
  • Not available in all states

Unsecured vs. Secured Loans at Best Egg

Unsecured Personal Loan: Traditional loan with no collateral. Best Egg funds the full amount upfront. APR ranges 8.99%–35.99%.

Secured Personal Loan: You deposit funds into a savings account as collateral. Best Egg holds your deposit and lends against it. This option typically offers lower APRs because you're a lower credit risk. Your savings earn interest while securing the loan.

Eligibility Requirements

Credit Score: Best Egg typically approves borrowers with fair credit (580+). Good and excellent credit gets better rates.

Income: Proof of income required (employment or self-employment).

Age & Residency: 18+ and U.S. resident (some state restrictions apply).

Application Process

  1. Check your rate (soft inquiry, no credit impact)
  2. Complete application (hard inquiry runs)
  3. Provide income verification
  4. Choose unsecured or secured loan option
  5. Receive approval and loan terms
  6. E-sign documents
  7. Funding within 1–3 business days

Best Egg vs. Competitors

vs. Upstart: Both approve fair credit. Upstart's origination fee can reach 12%; Best Egg caps at 8.99%. Best Egg's secured option is unique.

vs. Prosper: Similar APR ranges. Prosper's origination floor (1%) matches Best Egg's best case. Best Egg's secured loan option is a differentiator.

Who Should Apply to Best Egg

FAQ: Best Egg Personal Loans

What is a secured personal loan at Best Egg? +
A secured loan lets you use your own savings as collateral. You deposit funds into a Best Egg savings account, and they lend you money while holding your deposit. The advantage: lower APR. The trade-off: your savings are locked up as collateral. You keep the savings interest earned.
How fast does Best Egg fund loans? +
Best Egg can fund loans as fast as 1 business day. Most borrowers see funding within 1–3 business days of approval.
Can I prepay my Best Egg loan? +
Yes, with no prepayment penalty. Extra payments reduce principal and save interest. If you have a secured loan, your deposit remains the collateral until the loan is paid off.
What credit score does Best Egg require? +
Best Egg typically approves borrowers with fair credit (580+), though approval odds improve with credit scores above 620. Excellent credit gets the best rates (8.99% APR starting).
Is the origination fee the lowest in the industry? +
Best Egg's 0.99% origination floor is among the lowest. SoFi and Marcus charge zero origination fees, but Best Egg's low floor makes it competitive for borrowers who don't qualify for those lenders.

Ready to Compare?

See what rates and terms you qualify for from Best Egg and other lenders. Our comparison tool helps you find the best personal loan.

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Final Thoughts

Best Egg is a strong option if you have fair to good credit and want flexible loan options. The secured loan feature is unique and can net you a lower APR if you have savings. The 0.99% origination floor is also competitive. However, compare the all-in APR cost with Upstart and Prosper (which may have lower overall costs). If you have excellent credit and no need for a secured option, Marcus or SoFi may offer better value.