Marcus by Goldman Sachs No Longer Offers New Personal Loans
Marcus no longer offers new personal loans. Explore alternative loans from banks, online lenders and credit unions.
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Head of Content, Personal & Student Loans Marcus stopped offering new personal loans in January 2023. The company said then it will continue to service existing loans.
Marcus previously offered personal loans ranging from $3,500 to $40,000 for borrowers with good to excellent credit (690 credit score or higher). Its loans offered features like direct payment to creditors, a rate discount for autopay and a payment deferral option.
If you still need a personal loan, consider alternative loan options from other banks, online lenders and credit unions.
Alternatives to Marcus by Goldman Sachs personal loans
Banks
Banks typically provide competitive rates on personal loans to borrowers with good and excellent credit. Some banks require you to be an existing customer in order to apply for a personal loan.
» COMPARE: Best bank loans
PNC Bank: PNC offers personal loans ranging from $1,000 to $35,000 for borrowers in all 50 states and Washington, D.C. You don’t need to be an existing customer to apply, but non-customers may have to visit a branch to close a loan. PNC also offers an autopay discount and flexible repayment options.
Wells Fargo: Wells Fargo personal loans come in a wide range of amounts — from $3,000 to $100,000 — so they’re easily customizable for most loan purposes. Existing customers can pre-qualify online with a soft credit check, but new customers may need to visit a branch to apply. Wells Fargo’s personal loans are available in all 50 states and Washington, D.C.
Online lenders
Online lenders promise convenient applications and fast funding. These loans are available to borrowers across the credit spectrum.
» COMPARE: Best online personal loans
SoFi: SoFi personal loans are available to borrowers with good and excellent credit and come in amounts from $5,000 to $100,000. The lender offers services like hardship programs.
LightStream: LightStream, an online arm of Truist Bank, offers online personal loans with low rates and zero fees. This includes no origination fee, which is hard to find among online lenders. It offers loans up to $100,000 and can send funds within one business day.
Upgrade: Upgrade is a particularly good option for debt consolidation — the lender will send loan funds to creditors and give a rate discount for this option. It offers joint and secured loan options and free credit score monitoring.
 |  |
|---|---|
| Get rate | Get rate |
Est. APR8.99-35.49% | Est. APR6.49-25.29% |
Loan term2 to 7 years | Loan term2 to 7 years |
Loan amount$5,000-$100,000 | Loan amount$5,000-$100,000 |
Min. credit scoreNone | Min. credit score660 |
Credit unions
Credit unions may offer easier qualification and lower rates than banks or online lenders. To apply for a loan at a credit union, you first need to become a member.
PenFed: PenFed is known for serving military members, but anyone can join by funding a savings account with a $5 minimum. You’ll need good to excellent credit to qualify.
First Tech: First Tech serves tech companies and their employees with personal loans ranging from $500 to $50,000 and repayment terms between two and seven years. It requires a 660 minimum credit score and offers co-signed and joint loan options.
How to compare personal loans
The best way to compare personal loan lenders is by pre-qualifying. Pre-qualifying lets you check your potential rate, loan amount and term without risking a hard credit check, which can temporarily knock a few points off your credit score.
Many lenders offer pre-qualification, though it's particularly common among online lenders. NerdWallet lets you pre-qualify with online lenders with no risk to your credit score.
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- 1. Federal Reserve Bank of St. Louis. Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan. Accessed May 23, 2025.
- 2. National Credit Union Administration. Credit Union and Bank Rates 2024 Q4. Accessed May 23, 2025.
- 3. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 24, 2025.
- 4. Internal Revenue Service. Retirement Topics - Plan Loans. Accessed Apr 8, 2025.
- 5. Internal Revenue Service. Retirement topics: Exceptions to tax on early distributions. Accessed Apr 8, 2025.
- 6. Administrative Office of the U.S. Courts. Bankruptcy Basics. Accessed Apr 8, 2025.
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