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Best Egg personal loan reviews

APR varies from 5.99% to 29.99% and is generally based on the loan duration and the Applicant's credit score.

Best Egg personal loan reviews

Today we are going to review the Best Egg personal loan. Best is an online lender that offers loans of various categories – personal loans, debt consolidation loans, and credit card refinancing loans. They provide loans up to a range of $50,000. They have a relatively simple application process and send payments quickly. Customers can take out multiple loans without worrying about prepayment fees. They provide personal loans from as little as $2000 to a max of $50,000. The application process is straightforward.

Customers can go to their website and needs to fill out the required loan amount, individual income, home type, debt/personal information, and household income. After this, they conduct a credit check to determine the Applicant’s eligibility and potential interests. But this will not affect Applicant’s credit score and lets us compare the loan offers. They offer loans for 3- 5 years. Once the loan terms are agreed upon, they only seek the customer’s identity and income proof. Post that, they will transfer the loan amount to the desired account number of the Applicant.

Applicant needs certain conditions to meet to get a personal loan from Best Egg. The credit score should be 640 or above. Applicant should have an annual income of a minimum of $35,000. Applicant should have a bank account /email address and be of legal age to accept the loan in the residing state. Applicant should be a US citizen or permanent resident living in the US. They do charge an origination fee for all loans to cover their processing. They take out a percentage of the loan amount upfront and add this to the annual percentage rate. Also, they charge a $15 late fee if the payment is not made on time and a $15 return fee in case of insufficient funds in the borrower’s account.

APR varies from 5.99% to 29.99% and is generally based on the loan duration and the Applicant’s credit score. Since the Best Egg process is entirely online, it has less processing costs and offers better interest rates than other lenders. Applicants can also pay off the entire loan at any point after their first month’s payment without additional fees.

Featured Image Credit: Debt.org

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Harish

Harish is the editor at howto Finance. Here we publish high quality trending news topics on Business, Finance, Loans and Credit-Cards etc. Our editorial includes worldwide topics.
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