Best Egg Personal Loan Review

hey guys and welcome in this video we're

going to review best egg personal lumps

how do they work what are the pros and

cons cons of best egg as a lender what

are the different steps in the

application process in the purposes that

loans can be used for let's start best

egg established in 2014 out of

Wilmington Delaware is a newer online

lender but they boast lending over six

billion dollars to over four hundred and

twenty thousand customers they focus on

borrowers with good credit histories and

pride themselves on the speed at which

they can get customers their money they

have very high ratings with consumer

affairs and the Better Business Bureau

from many satisfied customers here are

the most important advantages we found

in best egg personal loans soft pull

inquiry best egg allows for an initial

soft pull increase so the borrower can

get an idea of the options for which

they may qualify quick turnaround times

and simple application process best egg

has a simple application process and one

of the quickest turnaround times since

the loan is usually funded in about one

to three days competitive interest rates

interest rates are competitive for

borrowers with good credit histories and

a strong cash flow you need a minimum

705 Coast core and a minimum individual

annual income of $100,000 to qualify for

our lowest rate no prepayment penalty a

borrower can pay off their loan early

without any fees more than one loan a

borrower can get multiple loans at a

time from best egg but they do have

stipulations have many loan uses best

egg allows many different uses for their

loans however as with any other lender

not everything is perfect here are the

disadvantages you have to know before

you apply it's not available in all

states best egg does not operate in Iowa

Vermont or West Virginia origination fee

Stag deducts a one-time origination fee

of 0.9%

25.9% of your loan amount directly from

your loan funds this should be

considered in the pricing of your loan

when you apply take into consideration

that there are other lenders who do not

charge in origination fee restrictions

for investments best egg loans cannot be

used for investment securities large

amounts on short terms the terms are

short and the payments on higher amounts

can be too large for some borrowers no

joint applicants the application is

based on the applicant alone best egg

does not allow for joint applicants

now let's discuss about what a best egg

personal loan can be used for best egg

can be used for consolidating debt

credit card refinancing vacations

special occasions

baby related costs and adoption fees

home improvements moving expenses or

large purchases it cannot be used for

any kind of post-secondary education

expense investments or illegal

activities of any kind

debt consolidation vest egg debt

consolidation takes one or more loans or

bills and pays them off with the new

best egg loan instead of multiple

payments to multiple lenders you can

create one payment to one lender the

advantage of debt consolidation loans

with best egg is that the payment in

term are fixed so you know your monthly


credit-card refinancing vest egg credit

card refinancing pays off one or more

credit card bills if you pay just the

minimum required payment on your credit

cards it could take years if not decades

to pay your balances best egg credit

card refinancing will make those many

credit card payments into one fixed

payment with an end due date

vacations and special occasions best egg

vacation loans or special occasion loans

offer a fast and easy way to get money

for your events without having to deal

with credit cards baby related costs and

adoption fees a best egg loan for baby

and adoption can be used to help manage

medical bills for a new baby or for

legal bills for adoption

home improvement a best egg home

improvement loan is for home repairs or

renovations the advantage of using a

best egg home improvement loan is the

promptness of receiving the funds

typically it takes a month or more to

get an equity line of credit on your

home you can use a best egg loan to

start your home improvement project

immediately or you may need it for a

major urgent repair requiring immediate

funding such as a tree damaging your

roof moving expenses a best egg loan for

moving expenses is a fast way to get the

funds needed to move you and your items

from point A to point B

large purchases you can use a best egg

personal loan for large purchases such

as appliances automobiles recreational

vehicles and medical bills

let's see how the best egg application


domestic application process takes only

a few minutes you'll start out with a

short form with some basic questions

about yourself including your full name

contact info date of birth and income

you will need to consent to credit

profile authorization allowing best egg

to check your credit then best egg is a

soft credit poll and you'll be presented

with loan options for which you are

pre-qualified you can get an idea of how

much you'll be paying before they do a

hard pull inquiry on your credit you may

get a notification that the application

has been denied if you do decide to move

forward you will need to answer more

verification questions and allow a hard

credit poll if best egg approves your

credit card application you will also

need to provide verifiable banking

information and possibly some

documentation to verify your other

information the process is relatively

quick the average turnaround time for

best egg is 1 to 3 days once the

information has been verified you will

need to sign loan documents on the

bottom line best egg is very competitive

for borrowers with excellent credit and

high income if you don't have those

characteristics or have average credit

there is no real advantage to using best

ink you should take advantage of the

soft poll to see what they can offer you

for those with average credit there may

be more competitive rates available

elsewhere take into consideration that

best egg has high origination fees which

will increase your overall cost that's

it for now on our website you can find

many more reviews as well as calculators

in other financial tools do you have any

experience with best egg loans we would

love to know your thoughts or hear your

story so feel free to share them with us

in the comments below I hope you enjoyed

it and don't forget to subscribe to our

channel on YouTube