Marcus by Goldman Sachs® Personal Loans

5 out of 5

Funded by: Marcus by Goldman Sachs

At A Glance

Marcus by Goldman Sachs recently launched its online personal loan services in 2016. Since then, they've dominated the industry, issuing $5 billion in loans to borrowers. But Marcus by Goldman Sachs isn't just a powerhouse due to the number of personal loans it’s issued. It also offers a slew of benefits, including no fees and competitive rates.

Pros & Cons


  • No fees
  • Payment deferment
  • Rate discount with autopay
  • Flexible loan terms


  • No option to include a co-signer
  • Higher interest than competitor

Marcus by Goldman Sachs® Personal Loans Borrowers Qualifications

Annual income

No annual income requirement disclosed

Credit history

At least 2 years

Credit score



No recent bankruptcy or delinquencies

State eligibility

Marcus is available in all 50 states

Marcus by Goldman Sachs® Personal Loans Key Details

Loan amount

$3,500 – $40,000

Loan term

3 to 7 years

Estimated APR

6.99 – 19.99%

Approval time

As little as minutes

Time to funds

As fast as 18 hours


No fees

Pre-payment option

Prepayment option available

Credit inquiry

Soft credit check to prequalify

Marcus by Goldman Sachs® Personal Loans Review

Our Experts Take
Brooke Hayes - Spade Business Team
Brooke Hayes
November 11, 2020

Marcus by Goldman Sachs personal loans are commonly used for home improvement, wedding, moving and relocation, and vacation. Marcus promises its consumers transparency and no-fee loans. Plus, it offers APRs as low as 6.99% for those with good to excellent credit. It’s easy to see why these consumer-friendly benefits make Marcus loans some of the best personal loans available to qualifying borrowers.

Let’s take a look at everything Marcus by Goldman Sachs personal loans have to offer, and why it might be an excellent company for your personal loan needs.

Where Marcus by Goldman Sachs Personal Loans Shines

No fees: Marcus by Goldman Sachs offers personal loans with no fees, ever. This makes paying down higher-interest credit cards is easier than ever. 

Payment deferral: After borrowers make at least 12 consecutive monthly payments in full and on time, Marcus allows payment deferral without affecting credit score, which can benefit those who experience job loss or unexpected expenses. It’s important to note that you’ll still pay interest during the extended month, but not during the deferral month.

Flexible loan terms: Marcus offers flexible, fixed-rate personal loans from $3,500 to $40,000. You can choose a repayment term of 36 to 72 months. Personal loans from Marcus are most commonly used to consolidate debt or for home improvements, but you can borrow money for any purpose. As a bonus, Marcus will cut your loan’s annual percentage rate by 0.25% if you set up autopay. 

Low APRs: If you’re searching for some of the best low-interest personal loans on the market, Marcus should be your go-to option. Most creditworthy borrowers can qualify for a fixed annual percentage rate of 6.99%.

Get a quote without hurting your credit score: To see what you qualify for, Marcus can conduct a soft credit check, which won’t negatively impact your credit score. Before finalizing the loan, Marcus will do a “hard” credit check (which will affect your credit score). 

Where Marcus by Goldman Sachs Personal Loans Falls Short

The upper-end interest rate: At 19.99%, it is definitely in your best interest to apply when your credit score is high enough to snag you the lowest rate.

No joint applications allowed: Unfortunately, Marcus doesn’t allow joining applications for their personal loans at this time, so if this is a concern to you, consider looking elsewhere.

The interest rate is tied, in part, to the loan term: The longer the repayment period, the higher the interest rate. You benefit most by taking out the shortest term you can afford to repay.

If you’re looking for Marcus’ eligibility requirements for personal loans, you won’t find them. They say several different factors are considered when determining whether someone is eligible to receive a Marcus loan. The basic requirements are as follows:

  • Have a credit score of at least 660
  • Be at least 18 years of age (19 in Alabama, 21 in Mississippi and Puerto Rico)
  • Have a valid U.S. bank account
  • Ability to provide Social Security or Individual Tax ID Number

Is a Marcus by Goldman Sachs Personal Loan Right for you?

A Marcus by Goldman Sachs personal loan may be right for you if you have a credit score of 660 or have the ability to pay off your loan early because Marcus doesn’t charge prepayment or origination fees. Unfortunately, Marcus isn’t an option for borrowers with fair credit or a low annual income at this time.






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