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Best Egg Personal Loans Calculator & Overview

Carla Soto
Updated 19 Aug 2023
Fact checked

Best Egg logo

Best Egg was founded in 2014 and is headquartered in Wilmington, Delaware. It has an A+ rating with the Better Business Bureau. Best Egg provides low interest rates for borrowers with good credit scores.

Are Best Egg personal loans the best option for you? Use the Best Egg personal loans calculator today. Discover the minimum and maximum amount you can borrow. Adjust the figure until you find the best deal within your budget.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

Guide to Best Egg personal loans

Best Egg provides personal loans, both unsecured and secured, from $2,000 to $50,000. You can use it for major purchases, emergency expenses, or special occasions. For debt consolidation, Best Egg pays directly to lenders. You can get approved in minutes and have the money the same day.

Best Egg loan features

What a Best Egg personal loan can potentially offer:

  • Loan amounts: $2,000 to $50,000
  • Loan terms: Between 1 year and 5 years
  • Repayment frequency: Monthly
  • Loan flexibility: Same day approval and same day funding for most customers
  • Interest rates: APR from 7.99% to 35.99%

Requirements for a Best Egg personal loan

Here’s what you need to prepare when applying for a Best Egg personal loan:

  • Personal information (address, phone number, Social Security number)
  • Gross annual income
  • Debt information (e.g. housing payment, credit card cash advances, etc)

 

Best Egg personal loan calculator

Loan Amount

$20,000

Term

3 months

Best Egg

Best Egg personal loans

Estimated Month Repayments
Interest Rate
5.99%
APR
Repayment Period
36 months
to 60 months
Loan Amounts
$2,000
to $50,000
Getting a Best Egg personal loan is as easy as 1-2-3

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.


Best Egg personal loans pros and cons

Pros

  • Wide range of loan amounts
  • Unsecured and secured loan options
  • Funds available within one business days
  • No prepayment penalties
  • Direct payment to creditors with debt consolidation loans
  • Pre-qualify without impacting credit score

Cons

  • Loan amounts, rates, and terms unclear on the website
  • High APRs up to 35.99%
  • Not available for borrowers with bad credit
  • Offers only two repayment terms: 3 years and 5 years
  • Origination fees
  • Not available for residents of Iowa, Vermont, West Virginia, the District of Columbia, or US Territories

Frequently asked questions

How much can I borrow from a Best Egg personal loan?

You can borrow as little as $2,000 or as much as $50,000. A maximum loan amount depends on location and creditworthiness.

How long can I repay the loan?

You can choose to pay the entire amount for a minimum of 36 months. The maximum allowable repayment period is 60 months.

How much interest rates do Best Egg personal loans have?

Loans have an APR of 7.99% up to 35.99%. The final rate will be based on the borrower’s credit score, loan amount, and loan term.

Will I be charged with origination or application fees?

Yes, you have to pay an origination or application fee. Best Egg deducts the amount from the loan proceeds. These are between 0.99% and 5.99% of the loan amount.

Will I have to pay a prepayment penalty?

No, Best Egg won’t deduct prepayment penalties from you. You can pay off your loan balances early without additional cost.

Does Best Egg make direct payments for credit card debts?

Yes. A Best Egg personal loan can be used for debt consolidation. Eligible borrowers may even be qualified for a higher loan amount and lower APRs.

What is the minimum credit score required for Best Egg personal loans?

Applicants must have a minimum credit score of 600.


Video: Hassle-free personal loans from Best Egg

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Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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