Editorial Review

Marcus by Goldman Sachs Personal Loans: 2019 Review

The online lending arm of Goldman Sachs, Marcus appeals to borrowers with fair to good credit, most of whom use the funds to consolidate debt.

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Our Take

5.0

NerdWallet rating 

The Bottom Line: Marcus loans stand out for low rates, no fees, and flexible loan terms and payment options.

Marcus by Goldman Sachs

on Goldman Sachs's website

on Goldman Sachs's website

Min. Credit Score

660

Est. APR

5.99-28.99%

Loan Amount

$3,500-$40,000

Pros & Cons

Pros
  • No fees.

  • Flexible payment options.

  • Offers option to directly pay creditors.

Cons
  • No co-sign option.

Compare to Other Lenders

Marcus by Goldman Sachs
Lightstream
Earnest
Est. APR

5.99-28.99%

Est. APR

3.99-16.99%

Est. APR

6.99-18.24%

Loan Term

3 to 6 years

Loan Term

2 to 7 years

Loan Term

3 to 5 years

Loan Amount

$3,500-$40,000

Loan Amount

$5,000-$100,000

Loan Amount

$5,000-$75,000

Min. Credit Score

660

Min. Credit Score

660

Min. Credit Score

680

Compare estimated rates from multiple lenders

Compare Rates

Full Review

To review Marcus, NerdWallet collected more than 30 data points from the lender, interviewed company executives and compared the lender with others that seek the same customer or offer a similar personal loan product. Loan terms and fees may vary by state.

Marcus is the consumer banking and lending arm of investment bank Goldman Sachs. Personal loans from Marcus are commonly used to consolidate debt or for home improvements, but you can borrow money for any purpose.

Best of 2019: NerdWallet recognized Marcus among our list of Best Personal Loans of 2019 in the categories of good credit, debt consolidation and home improvement.

How to qualify:

  • At least 18 years old (19 in Alabama; 21 in Mississippi and Puerto Rico).

  • Valid U.S. bank account, Social Security number or tax ID.

  • 660+ credit score.

No fees: The lender says it doesn’t charge any fees, not even origination fees or late fees for missed payments.

Loan flexibility: Marcus lets potential borrowers choose a monthly payment amount and loan term on its website. Once you pick the numbers that suit your budget, the lender tries to design a loan that matches your preferences, provided you qualify for a loan.

Marcus also lets borrowers change their due date up to three times during the life of the loan.

Financial tools: Marcus offers tools to track your credit score and pay down debt with your loan.

Skip a payment: After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time. The loan term is simply extended by one month. You’ll pay interest during the extended month, but not during the deferral month.

Customer support: Marcus has U.S.-based loan specialists who provide customer support seven days a week.

Loan example: For a borrower with good credit, a $20,000 personal loan with a repayment term of 48 months at 18% APR would carry a monthly payment of $587, according to NerdWallet’s personal loan calculator.

Before you shop for a personal loan

Pre-qualify on NerdWallet

NerdWallet recommends comparing loans to find the best rate for you. Click the button below to pre-qualify on NerdWallet. You may receive personalized rates from multiple lenders that partner with us, including Marcus. Pre-qualifying will not impact your credit.

Apply on Marcus

You can fill out an application on the Marcus website and choose the loan term and monthly payment amount that you prefer. Marcus conducts a soft credit check with credit bureau TransUnion to see if you qualify for a loan.

Personal Loans Rating Methodology

NerdWallet's ratings for personal loans award points to lenders that offer consumer-friendly features, including: soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus, and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation of any sort for our reviews. Read our editorial guidelines.