No, we’re unable to change the interest or APR you were approved for. Your APR is determined based on several factors, including:
- Information in your credit report
- Details provided in your application
- Your income and existing financial obligations
Helpful reminders:
- APRs may vary based on the loan term selected.
- There are no prepayment penalties, so you can make extra payments at any time to reduce the amount of interest paid over the life of your loan.
- Best Egg loans use simple interest, meaning interest is charged on the unpaid principal balance daily. As you pay down your principal, your daily interest amount decreases.
- Each monthly payment goes toward both interest and principal.
To learn more, visit: APR vs. Interest Rate: Knowing the Difference Could Save You Money
Note: If you experience financial hardship during the life of the loan, or become an active-duty military member, there may be options for APR assistance.
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Chat with us by logging into your Best Egg account
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