Best Egg has a customer satisfaction score of 95 percent and has financed 1.1 million in personal loans. Laurel Road has existed as a lender since 2013 and became part of KeyBank in 2019.
Best Egg and Laurel Road are good options to consider if you are looking for a small to medium personal loan. That said, there are some important differences to consider before signing up with either.
Best Egg vs. Laurel Road at a glance
Best Egg and Laurel Road personal loans are quite similar in terms of repayment terms and loan amounts. However, they differ when it comes to fees, interest rate caps and financing terms.
| Best egg | Laurierweg | |
|---|---|---|
| Bank rate score | 4.6 | 4.3 |
| Better for | Borrowers with fair credit | Affordable personal loans |
| Loan amounts | $2,000 – $50,000 | $5,000 – $45,000 |
| APRs | 8.99%-35.99% | 9.49%-24.25% (with automatic payment) |
| Length of the loan | 36-60 months | 36-60 months |
| Cost |
|
Late fee of $28 or 5% of the amount due, whichever is less |
| Minimum credit score | 600 | Not known |
| Time for financing | Within 1-3 business days after approval | Within seven working days after approval |
Best personal loans from Egg
Learn more
in our bank interest overview
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Positives
- Prequalification available.
- Fast financing.
- Lower minimum credit score than competitors.
Cons
- Origination fee.
- Not available in all states.
- No joint loans allowed.
Personal Loans Laurel Road
Learn more
in our bank interest overview
-
Plus points
- No origination fees.
- Allows co-signers.
- Autopay discount.
Cons
- High minimum loan amount.
- Undisclosed credit requirements.
- Slower than average financing.
How to Choose Between Best Egg and Laurel Road
Both Best Egg and Laurel Road offer online personal loans with average APRs and minimal frills. However, there are a few key ways in which the lenders differ from each other.
Best Egg is best for borrowers with fair credit or better
Although Laurel Road does not disclose the minimum credit score requirement, Best Egg works with people with a credit score of at least 600. This is considered fair credit and is a lower minimum than most competitors, making Best Egg a good fit. of credit applicant.
Laurel Road makes personal loans affordable
Laurel Road has several lending features that make them an affordable option for borrowers. They offer an autopay discount that reduces the interest rate by 0.25 percent. Moreover, there are no upfront fees charged on the personal loans.
Best Egg, on the other hand, charges an origination fee of up to 9.99 percent on all its personal loans. Additionally, the maximum rate is 35.99 percent, while Laurel Road caps its rates at 24.50 percent.
Compare lenders before applying
Laurel Road and Best Egg are two solid options for personal loan lenders. However, they are not the only alternatives. Be sure to check out rates from multiple lenders to get the most favorable loan for your situation. If possible, see if prequalification is available, as this will allow you to compare realistic offers side by side without damaging your credit.
