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Marcus by Goldman Sachs Personal Loans
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Marcus by Goldman Sachs Personal Loans

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in Personal Loans from Goldman Sachs Bank USA
SuperMoney Net Recommendation Score +1  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +1, equating to 3 on a 5 point rating scale.

+1

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly recommended

40 users recommend
3 users are unsure
39 users don't recommend
Browse Reviews: 40 Recommendations | 39 Complaints
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Highlights
Community Rating Mostly recommended
APR  (Fixed APR) 6.99% - 24.99%
(Verified 09/06/2022)
Loan Amount $3,500 - $40,000
Loan Term (Months) 36 - 72 months
Number of Reviews 82

Marcus by Goldman Sachs Personal Loans Review

Marcus by Goldman Sachs Personal Loans is offered by Goldman Sachs Bank USA, a bank founded in 1869 and based in New York, NY. Marcus by Goldman Sachs Personal Loans is available in 50 states (and Washington, DC).

Key Takeaways

  • APRs starting at 6.99%. Interest rates vary by state. Personal loan interest rates typically range between 5% and 36%. The starting rates for Marcus by Goldman Sachs Personal Loans are on the lower end of the spectrum.
  • Prequalified rate. You can check your prequalified rate at Goldman Sachs Bank USA with a soft pull that will not affect your credit score.
  • No origination fee. Marcus by Goldman Sachs Personal Loans does not charge a loan origination fee.
  • No late fees. Missing a payment can seriously damage your credit, but Marcus by Goldman Sachs Personal Loans will not charge additional fees if you miss the due date on a payment.
  • Super long loan terms. Marcus by Goldman Sachs Personal Loans offers loan terms of up to 72 months. Most personal loans have a maximum term of 60 months.

Marcus loans Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • Loan options with $0 origination fee.
  • APRs as high as 24.99%.
  • Only considers applicants with good credit.

Marcus loans FAQ

What interest rates and personal loan terms does Marcus loans offer?

Marcus loans has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Marcus loans offer?

Marcus loans offers a fixed APR personal loan product that ranges from 6.99% APR up to 24.99% APR. Interest rates vary by state.

How much can you borrow via Marcus loans?

Business loan amounts start at $3,500 and go up to $40,000.

What is the maximum loan term you can get with Marcus loans?

Marcus loans offers loans with terms of up to 72 months.

Marcus loans Interest Rates & Loan Terms
Personal Loan Amount $3500 - $40000
Loan Term 36 - 72 months
APR 6.99% - 24.99%

What fees does Marcus loans charge?

Does Marcus loans charge an origination fee?

Marcus loans does not charge a personal loan origination fee.

A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Marcus loans charge a late fee?

No, Marcus loans will not charge you a late fee if you miss one of the monthly payments.

Does Marcus loans charge prepayment fees?

No, Marcus loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

Marcus loans Fees
Origination Fee 0%
Prepayment Fee No
Late Payment Fee No

What do you need to qualify for Marcus by Goldman Sachs Personal Loans?

Applicants with a credit score of at least 720 and up to 840 FICO may be eligible for Marcus by Goldman Sachs Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Marcus by Goldman Sachs Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Marcus by Goldman Sachs Personal Loans only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Marcus by Goldman Sachs Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Marcus by Goldman Sachs Personal Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking account
  • Recent pay stubs
  • Proof of income
  • Recent bank statements
  • Driver's license
  • Government issued photo ID
  • Proof of identity
  • Proof of citizenship or residence permit
  • U.S. tax identification number
Marcus loans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
    		•
    Credit Score 720 - 840 FICO

    Does Marcus by Goldman Sachs Personal Loans report your account activity to credit bureaus?

    Yes, Marcus by Goldman Sachs Personal Loans reports your account activity to the following credit reporting agencies:

    • Equifax
    • Experian
    • Transunion

    Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

    Is Goldman Sachs Bank USA a legit company?

    Goldman Sachs Bank USA was founded in 1869, it is a well-established company that has been in business for 153 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.

    Marcus by Goldman Sachs Personal Loans Disclosure: Marcus offer terms and conditions: Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. Rates range from 6.99% to 24.99% APR, and loan terms range from 36 to 72 months. For NY residents, rates range from 6.99%-24.74%. Only the most creditworthy applicants qualify for the lowest rates and longest loan terms. Rates will generally be higher for longer-term loans. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans). Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. Receive a 0.25% APR reduction when you enroll in AutoPay. This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See loan agreement for details. Income Disclosure: List your total available income including wages, retirement, investments, and rental properties. You are not required to disclose income that is alimony, child support or separate maintenance unless you want to use that income to qualify for a loan. If applicable, include self-employment salary. For total commission earnings, provide an annual average. Increase non-taxable income/benefits by 25%. No Fees. We don't deduct a sign-up fee from your loan amount. Loans from $3,500 to $40,000 and fixed rates from 6.99% to 24.99% APR. Only the most creditworthy applicants qualify for the lowest rates and largest loans amounts. Rates will generally be higher for longer term loans Tailored monthly payment options designed to fit your budget. Marcus is backed by over 150 years of Goldman Sachs' financial expertise. No origination fee, prepayment fee, or late fee - You only pay interest for the additional days. Discount when enrolled in Autopay.
    SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Message From Marcus loans

    Discount when enrolled in Autopay.

    Contact

    Hours of Operation

    • Sunday All Day
    • Monday All Day
    • Tuesday All Day
    • Wednesday All Day
    • Thursday All Day
    • Friday All Day
    • Saturday All Day

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    Availability

      Available in 50 states and Washington, D.C.
    • Alaska
    • Alabama
    • Arkansas
    • Arizona
    • California
    • Colorado
    • Connecticut
    • Washington, DC
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Iowa
    • Idaho
    • Illinois
    • Indiana
    • Kansas
    • Kentucky
    • Louisiana
    • Massachusetts
    • Maryland
    • Maine
    • Michigan
    • Minnesota
    • Missouri
    • Mississippi
    • Montana
    • North Carolina
    • North Dakota
    • Nebraska
    • New Hampshire
    • New Jersey
    • New Mexico
    • Nevada
    • New York
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Virginia
    • Vermont
    • Washington
    • Wisconsin
    • West Virginia
    • Wyoming

    Feature Breakdown

    No Late Fees
    No Origination Fee
    No Prepayment Fee
    Origination Fee ($) $0
    Origination Fee (%) 0%
    Checking Account Required
    Employment Statuses Considered
    • Other
    • Employed Full-Time
    • Employed Part-Time
    • Self-Employed
    • Retired
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • 1099 Misc. Income
    Verification Documents Required
    • Driver License (or other photo ID)
    • Proof of citizenship/residence (Green Card)
    • Recent Pay Stubs
    • Proof of Income
    • Proof of Identity
    • Government Issued Photo ID
    • U.S. Tax Identification Number
    • Recent Bank Statements
    • Social Security Number
    Credit Score Range 720 - 840
    Credit Bureau Reporting
    • Experian
    • Equifax
    • TransUnion
    Payment Options
    • Automatic Payments
    • Check by mail
    • Bank Transfer
    Pre-Qualified Soft Credit Inquiry
    APR Type Fixed APR
    Loan Amount $3,500 - $40,000
    APR (Fixed APR) 6.99% - 24.99%
    (Verified 09/06/2022)
    Loan Term 36 - 72 months

    Marcus by Goldman Sachs Personal Loans Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    This product is mostly recommended by SuperMoney users with a score of +1, equating to 3 on a 5 point rating scale.

    +1

    Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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