Pros & Cons
- No fees.
- Wide variety of repayment term options.
- Offers 0.25 percentage point rate discount for setting up autopay.
- Offers direct payment to creditors for debt consolidation loans.
- No co-signed, joint or secured loan options.
Compare to Other Lenders
3 to 6 years
2 to 7 years
3 to 5 years
Min. credit score
Min. credit score
Min. credit score
Compare estimated rates from multiple lenders
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Full Review of Marcus by Goldman Sachs
Marcus is the online-only consumer banking and lending arm of investment bank Goldman Sachs. It offers unsecured personal loans with zero fees for borrowers with excellent credit.
Marcus stands out for its unique features like nine repayment plans to choose from, so you can better customize your loan and monthly payment amount, and the option to defer a payment without paying interest.
Marcus is best for borrowers who:
Have a FICO credit score of 730 or higher.
Want highly customizable terms.
Want to consolidate debt.
Marcus at a glance
Key terms to know about personal loans
» COMPARE: Best bank loans
Where Marcus stands out
No fees: Marcus doesn't charge fees on its personal loans, including origination, prepayment or even late fees. However, if you miss a payment, you must still pay the interest that accumulates during this period, and late or partial payments may be reflected on your credit report.
Direct payment to creditors: The lender will pay your creditors directly if you get a loan for debt consolidation. This direct pay feature is free and can apply to credit cards and retail cards (for a maximum of 10 cards total) and other personal loans.
Wide variety of loan terms: Marcus offers highly customizable repayment terms. Though terms range from three to six years, there are nine options: 36, 39, 42, 45, 48, 54, 60, 66 or 72 months. Your term is determined by the amount you wish to borrow and your desired monthly payment.
Payment deferral option: After making 12 consecutive monthly payments, you can defer one payment as long as you've made all your prior payments in full and on time. Deferring a payment extends the loan term by one month. You won't be required to pay interest while your payment is being deferred.
» MORE: Best personal loans
Where Marcus falls short
No co-signed, joint or secured loan options: Marcus offers only unsecured personal loans, meaning there’s no option to add a co-borrower or secure the loan with collateral in order to get a more competitive rate or be approved for a larger amount.
Limited customer service channels: Marcus encourages customers to get in contact via phone, and loan specialists are available seven days a week with extended business hours. Unlike some lenders, however, Marcus doesn't offer a chat tool for borrowers (there is one for savings account customers) or a social media account dedicated solely to customer service.
» MORE: Best good-credit lenders
How to qualify for a Marcus loan
Marcus doesn’t disclose many borrower requirements, but here are a few must-haves to qualify:
Minimum credit score: 730 FICO.
May need to provide proof of income, including recent pay stubs or bank statements.
May need to provide Social Security number, Individual Tax ID number or a photo ID.
Loan example: A four-year, $13,000 loan with an 11.2% APR would cost $337 in monthly payments. You’d pay $3,188 in total interest on that loan.
Pre-qualify on NerdWallet
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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, and your loan offer is based on the information you provided. You can browse other loan options with different monthly payments or total loan amounts before accepting an offer and submitting a more detailed application.
NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial institutions. We collect over 45 data points from each lender, interview company representatives and compare the lender with others that seek the same customer or offer a similar personal loan product. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
This methodology applies only to lenders that cap interest rates at 36%, the maximum rate most financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.