Best Egg vs. LendingClub Personal Loans (2026): Which Is Better for Your Needs?

Quick summary: Best Egg and LendingClub are well-known online lenders that offer relatively similar personal loan options. Best Egg is best if you’re looking for a large-dollar secured loan, while LendingClub may be best if you have good credit and hope to skip origination fees. Choosing between the two lenders, however, might come down to which one assesses your loan application more favorably and makes the better offer. 

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms, and fees from different lenders and choose the best offer for you.

Detailed Comparison: Best Egg vs. LendingClub 

Interest Rates & APR 

Annual percentage rates (APRs) reflect how much you’re paying for your loan each year in fees and interest. The higher your APR, the higher your total borrowing costs. 

LendingClub offers only unsecured personal loans with fixed APRs from 6.53% to 35.99%, depending on your credit and overall financial profile.

Best Egg offers unsecured personal loans with fixed APRs from 6.99% to 35.99%. It also offers secured personal loans, which require collateral — in Best Egg’s case, an eligible passenger vehicle or an owned home’s permanent fixtures — to qualify for more funding, more flexible terms or lower APRs. 

Best Egg vehicle-secured loan APRs range from 10.99% to 29.99%, while its home-secured loan APRs range from 5.99% to 29.99%. 

Secured loans carry a unique risk; if you default, the lender could seize your collateral. Still, they’re an option if your credit is so-so and you’re having a hard time finding affordable financing. This chart shows the estimated monthly payments and total borrowing costs for a 5-year, $20,000 loan at each lender’s lowest and highest APRs.

👉 How to Calculate Interest on Your Loan

Loan Amounts 

Best Egg’s unsecured personal loans range from $2,000 to $50,000. Its home-secured loans range from $5,000 to $50,000, while its vehicle-backed secured loans range from $5,000 to $100,000.  

LendingClub’s unsecured personal loans range from $1,000 to $60,000, making it a more flexible option for borrowers who can’t or don’t want to put up collateral. 

Plus, if you live in the following states, Best Egg unsecured loans are unavailable or subject to higher borrowing minimums:

• Iowa (unavailable)

• Vermont (unavailable)

• West Virginia (unavailable)

• Washington, D.C. (unavailable)

• Massachusetts ($6,500 minimum)

• Ohio ($5,001 minimum)

• Georgia ($3,001 minimum)

Best Egg also has restrictions on its secured loans. For instance, its home-backed loans are unavailable in Connecticut, Iowa, Louisiana, Vermont, West Virginia and Washington, D.C.

Repayment Terms 

Best Egg’s repayment terms also vary by loan type, with unsecured loans lasting 3 to 5 years. Vehicle-secured loan terms range from 2 to 7 years, while home-backed loan terms range from 3 to 7 years.  

LendingClub offers loan terms of 2 to 7 years, though most of its loan terms are 3 or 5 years. In other words, both lenders’ loan term options are quite similar and offer some flexibility when balancing an affordable monthly payment with reasonable total borrowing costs. 

Fees & Costs 

Best Egg charges origination fees between 0.99% and 9.99%, based largely on creditworthiness, though all loans 4 years or longer carry a fee of at least 4.99%. LendingClub’s origination fees are lower, ranging from 0% to 8%, meaning you might be able to skip the charge with excellent credit. 

These origination fees can affect the cost of your loan and how much you need to borrow as they’re charged upfront and deducted from your loan proceeds. This chart demonstrates how various origination fees can impact a five-year unsecured personal loan.

Neither lender charges prepayment penalties. Best Egg doesn’t charge late fees. LendingClub charges a late fee of $15 or 5% of the outstanding amount (whichever is greater), albeit with a 15-day grace period.

Eligibility & Approval 

Best Egg indicates on its website that it requires a minimum credit score of 640, and reserves its best rates for people with annual incomes of at least $100,000 and credit scores of 700 or higher. 

LendingClub doesn’t openly disclose its minimum credit score or income requirements. However, it specifies that its best rates are reserved for borrowers with high credit scores, a low debt-to-income ratio and a proven track record of credit management.  

Users on forums like MyFico and Reddit report Best Egg approvals, albeit at high APRs, with scores in the low 600s, and LendingClub approvals with scores in the mid-600s. Unlike LendingClub, however, Best Egg doesn’t allow joint loan applications to increase approval odds. 

Application & Funding Experience 

Best Egg and LendingClub have all the hallmarks tech-savvy borrowers might look for in a digital-first lender: a fast, relatively frictionless pre-qualification process (no hard credit inquiry required), online loan applications, and well-rated mobile apps for Android and iOS that let you make payments, open new accounts and monitor your credit.  

They also both advertise funding in as little as 24 hours, but as best-case scenarios. You need full loan approval on a business day, and are beholden to your bank’s policies and processing times.   

Best Egg says most customers can expect funds between 1 and 3 business days after verification. LendingClub reports the same standard timeline. 

In terms of customer service, LendingClub placed slightly higher in J.D. Power’s 2025 U.S. Consumer Lending Satisfaction Study, scoring 709 points to Best Egg’s 686. It also edges Best Egg on Trustpilot. 

Best Egg vs LendingClub: Pros & Cons 

Best For: Who Should Choose Which 

While Best Egg and LendingClub have similar personal loan offerings, there are a few times when your choice between the two might be more clear-cut. 

Choose Best Egg personal loans if: 

• You’re looking for a secured personal loan, especially for a large amount.   

• You own a vehicle or home and are willing to use either to get more funding or better loan terms. 

• You have fair credit and don’t qualify for any LendingClub offers. 

Choose LendingClub personal loans if: 

• You have excellent credit and don’t want to pay an origination fee.  

• You’re looking for an unsecured loan under $2,000 or over $50,000. 

• You have a co-borrower to split responsibility or boost approval odds.  

• You live in a state where Best Egg is unavailable.

Final Recommendation & Next Steps 

Best Egg and LendingClub offer similarly competitive personal loans. Best Egg is your go-to for secured loans, as LendingClub doesn’t offer this loan type. However, if you’re looking for an unsecured loan, you might want to check rates with both lenders. Neither does a hard credit pull during pre-qualification, and the better offer could vary by the specifics of your loan application and financial profile. In fact, you might want to comparison-shop with other lenders to increase your odds of finding your best offer. 

FAQs 

Which is better, Best Egg or LendingClub?

Best Egg is better for secured personal loans, as LendingClub only offers unsecured funding. LendingClub is better if you have excellent credit and want no origination fee, as Best Eggs charges a 0.99% minimum origination fee on its personal loans. Beyond that, the better lender is the one that offers you the most affordable terms and conditions.

Are Best Egg loans secured?

Best Eggs offers secured personal loans that allow you to use a qualified vehicle or permanent home fixtures as collateral. It also offers unsecured personal loans ranging from $2,000 to $50,000.

What are the downsides of LendingClub?

LendingClub’s main downsides include high maximum APRs and origination fees. It also charges late fees after a 15-day grace period. As with all financing, mismanaging or defaulting on a loan could hurt your credit and overall financial health.  

Sources

• Bestegg.com - Personal Loans Official Website

• Lendingclub.com - Personal Loans Official Website

• MyFico.com - Best Egg Loans

• Reddit.com - Have you used a debt consolidation loan with a 640 or less credit score to pay down CC debt?

• JDPower.com - Consumer Loan Satisfaction Stagnant as Financial Health of Customers Declines, JD Power Finds