LightStream and Best Egg have built a trusted reputation in the consumer lending space. LightStream is an online lender that is part of National Truist Bank. At the same time, Best Egg has financed 1.1 million loans and achieved a 95 percent customer satisfaction score since its founding in 2014.
Both lenders are ideal for people with good to excellent credit, but the loans themselves are not a one-size-fits-all solution. Compare lender details to decide which lender best suits your credit situation.
Best Egg vs. LightStream at a glance
Both lenders offer solid personal loans that can help in a variety of financial situations. However, there are important differences that may affect your choice.
| Best egg | LightStream | |
|---|---|---|
| Bank rate score | 4.6 | 4.7 |
| Better for | Borrowers with fair to excellent credit | Debt consolidation and home improvements |
| Loan amounts | $2,000 – $50,000 | $5,000 – $100,000 |
| APRs | 8.99%-35.99% | 7.49%-25.49% |
| Length of the loan | 36-60 months | 24-144 months |
| Cost |
|
No |
| Minimum credit score | 640 | Not specified; only approves good to excellent credit profiles |
| Time for financing | As soon as one working day | As soon as the same day |
Best personal loans from Egg
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in our bank interest overview
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Offering unsecured personal loans aimed at borrowers with excellent credit, Best Egg has built a trusted reputation in the consumer lending space.
Borrowers with a FICO score of at least 640 are eligible, but those with a minimum score of 700 and an annual income of at least $100,000 are offered the best rates and terms.
While the lender does to be honest broad credit criteria for approval, those with a solid, steady income who need to finance a larger expense will benefit most from a personal loan from Best Egg.
LightStream personal loans
Learn more
in our bank interest overview
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LightStream is a ideal option to consolidate large amounts of debt with high interest due to the low APR range and no fees. It also has a high minimum loan amount of $100,000, giving borrowers with good to excellent credit the ability to manage multiple debts.
It could also benefit borrowers taking out a large loan home improvement projectbecause the lender offers flexible repayment terms and a wide range of loan amounts.
Plus, LightStream’s Rate Beat program offers an interest rate reduction of 0.10 by the rate you are offered on an unsecured loan from a competing lender (since you are approved for that rate and loan amount).
How to Choose Between Best Egg and LightStream
Best Egg and LightStream offer unsecured personal loans for borrowers with good to excellent credit and a fixed income.
Despite this, Best Egg has a higher APR maximum of 10 percent and charges an origination fee, making it the potentially more expensive option. However, with LightStream you could be taking a gamble on approval as most eligibility requirements are not listed on the website and no prequalification is offered.
Choose Best Egg if you have excellent credit
Due to its multiple fees, high APR range, and shorter repayment terms than LightStream, Best Egg is only recommended for those with an excellent FICO credit score.
Those who don’t qualify for the most competitive rates and fees may want to take their business to a lender that doesn’t charge an origination fee or a lender that offers you a better predicted rate.
Choose LightStream if you need a large loan
LightStream’s maximum loan amount of $100,000 is higher than most lenders, although only the most creditworthy borrowers qualify for the maximum loan amount.
Those with excellent credit, a low debt-to-income ratio, and a good repayment history are more likely to get approved for this maximum amount.
Compare more lenders before signing up
LightStream’s high loan amount, competitive APRs, and Rate Beat program make this lender hard to beat. However, Best Egg offers prequalification and more clearly defines eligibility criteria so you won’t suffer credit damage if you get your predicted rate and approval odds.
Compare more lenders that offer prequalification to ensure you get the best possible rate for your credit situation, rather than going with the first lender that offers you a loan.
