Some states have different minimum loan amounts ($5,000 in New Mexico and Ohio, $6,500 in Massachusetts and $3,000 in Georgia). What to know before you apply: In addition to a 640 credit score, you also need a debt-to-income ratio below 30%, verifiable income and a valid address. There is a $15 returned payment fee if your payment can’t be processed because of a returned check or insufficient funds in your bank account.
The one-time origination fee, which Best Egg charges for processing the loan, is 0.99% to 5.99% of the total loan amount. In other words, you don’t have to pay “interest on top of interest,” like with credit cards, according to the company’s website. Best Egg offers simple interest loans, meaning that the interest is calculated only on the outstanding principal balance. All completed within about 24 hours.”Ī reviewer in Oregon recommends Best Egg because of its “transparency, easy application process and easy navigation of process through clear upfront information, fast release of funds and great customer service.”Įstimated rates and fees: Annual percentage rates (APRs) range from 5.99% to 35.99%. “From the first click on my laptop - to the requested cash amount being deposited into my bank account. “It was a very simple and fast process for a personal loan request!” a reviewer in Tennessee said. Most approved borrowers get funding within one to three days. You’ll need your email address and phone number to get started. With Best Egg, it only takes a few minutes to check your rate. There is no fee or penalty for repaying a loan early.īest Egg is one of our top picks overall because it has great reviews, wide availability and relatively low starting APRs. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. Actual rate depends on credit score, credit usage history, loan term, and other factors. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Over the life of the loan, your payments would total $12,293.46.
For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Loans feature repayment terms of 24 to 84 months. Lowest rates require Autopay and paying off a portion of existing debt directly. All personal loans have a 1.85% to 8% origination fee, which is deducted from the loan proceeds.
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Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 6.95%-35.97%.
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