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Marcus by Goldman Sachs Personal Loans: 2021 Review

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Susan Guillory
Susan GuilloryUpdated August 29, 2022

Overview of Marcus

Amid a sea of personal loan options for getting a loan online, Marcus by Goldman Sachs personal loans stand out for one reason: they have no fees. Other personal loan lenders online charge origination fees or even prepayment penalty fees, but Marcus charges nothing beyond the interest and the loan payment.Here’s a detailed overview of Marcus personal loans, including some potential pros and cons.
Pros and cons


  • No fees charged by Marcus
  • Rate discount available for enrolling in AutoPay
  • Option to skip a month after 12 consecutive on-time payments


  • Credit score may be high for some to qualify
  • Interest rate may be higher than some other options
  • No joint applications

Marcus Personal Loan Terms, Rates, and Fees

Loan amounts: $3,500 - $40,000APR range: 6.99% to 19.99% (Updated as of 6/21/2021.)Origination fee: $0Minimum credit score: 660 or higher to qualify for lower ratesTime to funding: 1-5 business daysCo-borrower needed: No(Updated as of 4/9/2021.)

Other Lenders

If you’re looking to get a loan online, after reading Marcus by Goldman Sachs loan reviews, be sure to research other companies as well. Different lenders may offer different loan terms and utilize alternative factors to determine if an applicant qualifies for their loan products.  

What Types of Loans Does Marcus Offer?

Marcus no-fee unsecured personal loans are available for 36 to 72-month terms, and can be used for a variety of purposes, including debt consolidation, weddings, home improvement, moving, and vacations. Like other personal loans, a Marcus loan cannot be used to repay student debt or refinance existing educational debt. If you are interested in debt consolidation, there is an option for Marcus to directly pay off your credit cards rather than sending you the funds to pay off the debt yourself.

Important to Keep in Mind

Eligible borrowers may be able to save 0.25% on their APR when they enroll in AutoPay with Marcus.Also, Marcus offers borrowers who pay their loans on time and in full for 12 consecutive months to skip one month’s payment. During this time, interest will not accrue—and that “skipped” payment will be due at the end of your loan term.Marcus aims its loans to borrowers with “good” (at least 660) to “excellent” (800 or above) FICO® credit scores. According to Marcus’ site, only applicants with excellent credit qualify for the most competitive rates. 

Applying for a Marcus Personal Loan

Marcus loan reviews appear to agree that the process of applying online for a loan is fast and easy. Applications require just a few details to check your eligibility for unsecured personal loan offers—including name, email, state of residence, annual income, and income sources. Checking to see if you prequalify for a Marcus personal loan offer will not negatively impact your credit history. Submitting a full application for a specific Marcus personal loan, however, may affect your credit scores.

Marcus Loan Requirements

Marcus uses various data to come up with loan offers and interest rates for qualifying applicants. The company evaluates information from your application and from your credit report, as well as your intended use and your financial ability to pay.To apply, you will need a valid US bank and Social Security (or Individual Tax ID) number. Additional documentation, including recent pay stubs or account statements, may be required to verify applicants’ stated income. 

Loan Application Process

When applying online for a Marcus personal loan, you will need to provide details such as:
  • What kind of loan options you’re pursuing 
  • What loan amount and monthly payment you’re seeking 
  • What reasons you’re applying for a personal loan 
Next, you’ll be asked information yourself, including your annual income and monthly housing expense. Once you’ve submitted personal contact details, you may be given loan offers to choose from should you qualify. Once you’ve selected the one you’re interested in, you may be asked to provide additional proof of identity, income, and/or employment.

The Bottom Line

If you’re looking for a personal loan with truly no fees, Marcus could be worth exploring, particularly if you have a good credit score (among other qualifying financial factors) and are eligible for Marcus’ more competitive rates.Looking for more personal loan options? With Lantern's help, you can find the right one for you.

Frequently Asked Questions

Is Marcus by Goldman Sachs trustworthy?
Is Marcus bank safe?
Can you pay off a Marcus loan early?
Are Marcus loans legitimate?
How long does it take to get money from Marcus by Goldman Sachs?
Is Marcus interest paid monthly?
How does Marcus verify income?

About the Author

Susan Guillory
Susan GuillorySusan Guillory is the president of Egg Marketing, a content marketing firm based in San Diego. She’s written several business books, and has been published on sites including Forbes, AllBusiness, and Cision. She enjoys writing about business and personal credit, financial strategies, loans, and credit cards. Follow her on Twitter @eggmarketing.