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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 -7% 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 not recommended

33 users recommend
2 users are unsure
38 users don't recommend
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Highlights
Highlights
Community Rating Mostly not recommended
Loan Amount $3,500 - $40,000
APR  (Fixed APR) 6.99% - 28.99%
Loan Term 36 - 72 months
Number of Reviews 73

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 49 states (and Washington, DC).

What rates and terms does Marcus by Goldman Sachs Personal Loans offer?

Marcus by Goldman Sachs Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What personal loan APRs does Marcus by Goldman Sachs Personal Loans offer?

Marcus by Goldman Sachs Personal Loans offers a fixed APR personal loan product that ranges from 6.99% APR up to 28.99% APR. Interest rates vary by state.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Marcus by Goldman Sachs Personal Loans?

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

What can a personal loan from Marcus by Goldman Sachs Personal Loans be used for?

Personal loans from Marcus by Goldman Sachs Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses or similar purposes.

What is the maximum loan term you can get with Marcus by Goldman Sachs Personal Loans?

Marcus by Goldman Sachs Personal Loans offers personal loans with terms ranging from 36 to 72 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Marcus by Goldman Sachs Personal Loans Rates & Terms
Loan Amount $3500 - $40000
Loan Term 36 - 72 months
APR 6.99% - 28.99%

What fees does Marcus by Goldman Sachs Personal Loans charge?

Does Marcus by Goldman Sachs Personal Loans charge an origination fee?

Marcus by Goldman Sachs Personal Loans does not charge a loan origination fee.

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

Does Marcus by Goldman Sachs Personal Loans charge a late fee?

No, Marcus by Goldman Sachs Personal Loans will not charge you a late fee.

Does Marcus by Goldman Sachs Personal Loans charge prepayment fees?

No, Marcus by Goldman Sachs Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

Marcus by Goldman Sachs Personal Loans Fees
Origination Fee N/A
Prepayment Fee? No
Late Payment Fee N/A

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

Applicants with a credit score of at least 660 and up to 840 FICO are 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 checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Government issued photo ID
  • Proof of identity
  • Proof of citizenship or residence permit
Marcus by Goldman Sachs Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Credit Score 660 - 840 FICO

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

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 can help improve your credit score.

MARCUS BY GOLDMAN SACHS PERSONAL LOANS Disclosure: Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. For NY residents, rates range from 6.99% – 24.99% APR. 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). Only the most creditworthy applicants qualify for the lowest rates and longest loan terms. Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. The minimum age to apply is 18 (19 in Alabama, 21 in Mississippi and Puerto Rico). 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.
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...

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Message from Goldman Sachs Bank USA

APR discounts may be available for Direct Payment of outstanding credit card debt and AutoPay.

Other Services by Goldman Sachs Bank USA

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. 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
  Available in 49 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
No Late Fees  
Bank Account Required  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Supported Income Types
  • 1099 Misc. Income
  • Direct Deposit (W2, SSA, SSDI)
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Recent Bank Statements
  • Recent Pay Stubs
  • Social Security Number
  • U.S. Tax Identification Number
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Payment Options
  • Automatic Payments
  • Bank Transfer
  • Check by mail
Pre-Approved Soft Credit Inquiry  
Loan Amount $3.5K - $40K
APR (Fixed APR) 6.99% - 28.99%
Loan Term 36 - 72 months

Marcus by Goldman Sachs Personal Loans Community Reviews

 

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