Loans

Marcus by Goldman Sachs Personal Loans review

The Marcus by Goldman Sachs Personal Loans offers a great variety of loans with no fees and flexible payment terms. Read our full review to learn all of its features, pros and cons to see if it’s the right loan for you.

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by Aline Barbosa

Published on 07/04/2022

Marcus by Goldman Sachs Personal Loans: Get the funding you need without worrying about fees.

Marcus by Goldman Sachs Personal Loans review
Read our Marcus by Goldman Sachs Personal Loans review. Source: The Mad Capitalist.

In this day and age, getting a personal loan isn’t such a daunting task if you have a good credit score. Finding a good, reasonable loan however, is. In this Marcus by Goldman Sachs Personal Loans review, you’ll learn everything about a company that offers a broad list of services that will allow you to achieve your financial goals without breaking the bank long term.

Marcus by Goldman Sachs Personal Loans review

How to apply for a Marcus Loan?

Learn the application process for the Marcus by Goldman Sachs Personal Loans and get the funding you need with no fees!

In this Marcus by Goldman Sachs Personal Loans review, we’ll break down its main features, pros and cons so you can make an informed decision. So keep reading to learn how getting a personal loan from Marcus can change your way of life without overwhelming your budget. 

  • APR: 6.99% – 19.99% fixed APR.
  • Loan Purpose: Home improvement, debt consolidation and more.
  • Loan Amounts: From $3,500 to $40,000.
  • Credit Needed: Minimum of 660.
  • Origination Fee: There is no origination fee.
  • Late Fee: There are no late fees.
  • Early Payoff Penalty: Marcus doesn’t charge an early payoff fee. 

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Marcus by Goldman Sachs Personal Loans: how does it work?

The Marcus Personal Loan is the perfect solution for anyone who’s looking to borrow money and doesn’t want to worry about fees. The company is the online banking and lending branch of renowned bank Goldman Sachs, so you know you’ll be hiring a reputable and safe service. 

The company offers unsecured loans for borrowers with a good credit rating. What makes Marcus stand out amongst other personal loans is that it doesn’t charge the most common fees most loans do.

Meaning you won’t have to worry about paying a sign-up, origination or late payment fees. However, if you miss a payment, you’ll have to pay the interest charge. 

Borrowers can get up to $40,000 for home improvement, debt consolidation, vacation and a series of other purposes. Marcus provides a flexible payment play with nine different terms between 36 and 72 months. There’s a fixed APR based on creditworthiness that ranges from 6.99% to 19.99%. 

The loan is available in all 50 states and the pre-qualification process performs only a soft check, so it doesn’t harm your credit score. There’s also a rate discount for autopay.

After making 12 consecutive payments in full and on time, Marcus allows you to defer one monthly payment. You won’t have to worry about interests during this period, and the company will extend your terms for another month. 

If you think this is the right personal loan for you, keep reading our Marcus by Goldman Sachs Personal Loans review to learn about the pros and cons. 

Marcus by Goldman Sachs Personal Loans: should you get one?

Marcus by Goldman Sachs Personal Loans review
Should you take out this loan? Source: The Mad Capitalist.

While this loan provides a series of attractive benefits for borrowers, taking out a personal loan requires a lot of responsibility. Make sure you understand the advantages and disadvantages before requesting funding. That way you can make the best decision for you and your financial future. See the pros and cons of the Marcus Personal Loans below. 

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Pros

  • Doesn’t charge sign-up, origination, late or prepayment fees;
  • Fixed APR for the life of your loan;
  • Offers a one month deferral after 12 consecutive on time payments;
  • Flexible payment terms;
  • Offers direct payment to creditors in its debt consolidation option.

Cons

  • Doesn’t provide co-signed, secured or joint loan options;

Credit score required

Even though Marcus doesn’t disclose the methods it uses for qualification, there are a few minimum requirements by the company for new applicants. You must have a FICO score of minimum 660. Plus, you might need to provide proof of income.

Marcus by Goldman Sachs Personal Loans: how to do it?

If reading our Marcus by Goldman Sachs Personal Loans review got you interested in hiring their services, follow the link below. In it, we’ll cover everything you need to know about how to apply for this loan. Including eligibility and the online application process. 

Marcus by Goldman Sachs Personal Loans review

How to apply for a Marcus Loan?

Learn the application process for the Marcus by Goldman Sachs Personal Loans and get the funding you need with no fees!

About the author

Aline Barbosa

Aline Barbosa is an editor, writer and learning-enthusiast. Passionate about music, books and human behavior. Curious about the unknown. Believer that learning is a life-long process.

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