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Marcus by Goldman Sachs: A Great Option for Borrowers with Good Credit

by | Mar 26, 2020

A Marcus by Goldman Sachs personal loan is an option for borrowers with a good to excellent credit score and are in need of a loan amount from $3,500 to $40,000.  They advertise personal loans with interest rates as low as 6.99% and don’t charge any fees.  This loan also allows for great flexibility, allowing borrowers to adjust their payment due date along with having flexible repayment loan terms of 36 to 72 months.  Marcus also includes a bonus of allowing borrowers to defer one monthly payment after making 12 or more consecutive on-time payments with no late fees.

 The typical loan purpose of a personal loan offered by Marcus by Goldman Sachs bank is for debt consolidation or home improvement, but this loan can also be used for other loan options including weddings, moving, vacations and major purchases.

How do you qualify for a Personal Loan from Marcus by Goldman Sachs?

To qualify, you can apply via the Goldman Sachs form.  One important note to this application process is that co-signers are not accepted, however, if you are looking for ease of application, this loan is offered in a 100% online process after disclosing a valid U.S. bank account and social security number details in order to perform a soft credit check.

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Get a no fee, fixed rate personal loan

  • No Fees. Ever. We don’t deduct a sign-up fee from your loan amount.
  • Loans from $3,500 to $40,000 and fixed rates from 6.99% to 19.99% APR.
  • Tailored monthly payment options designed to fit your budget

Compare additional personal loans


Why should I use a personal loan over a 0% interest credit card to consolidate my debt?

The math is simple on this one.  Let’s say you currently have $15,000 in credit card debt on 3 separate credit cards.  Each card has loan rates of 18.35% APR with the first having an outstanding balance of $3k, the second, $7k and the third $5k. Now assume a  personal loan by Marcus with a 48 month term, $15k loan at 12.92% APR to cover the  credit cards. If you make equal payments on your credit cards and Marcus loan,  you could end up saving over $3k on interest by moving your debt from credit cards to the Marcus personal loan.    If you are looking to see how this can work for your specific situation,  Marcus even has a personal loan calculator that you can use to see how much you can save in interest.

Why choose a Marcus personal loan over other personal loans?

A lot of personal loans out there charge fees on their personal loans in the form of sign-up fees, origination fees,  prepayment fees, etc.  Marcus boasts a no fee personal loan, so you know exactly what you are borrowing.  On top of this, Marcus has an A+ rating with the Better Business Bureau as a result of their timely responses and customer service.  If you don’t need a co-signer, have good credit to excellent credit and are looking for an online lender that offers a loan product up to $40,000 at an APR lower than most credit cards, the Marcus by Goldman Sachs personal loan could be the right option for you.

How to apply for a personal loan from Goldman Sachs Bank

You can apply for a Marcus by Goldman Sachs personal loan by heading to its online application form and filling out details such as your name, address and annual income. You’ll also need to indicate how much you want to borrow, as well as a preferred monthly payment amount.

You’ll then be presented with loan options, including total loan amount, monthly payments and your APR. If you decide to continue the application, choose an offer. Before approval, you may need to provide additional documentation such as proof of income, employment status and a copy of your state-issued photo ID.

To submit documents, you can upload them using the camera from your mobile device or photo library. You can also upload documents on your computer. You’ll need to make sure the document is clear when submitting; otherwise, you may be required to resubmit. Once your loan is approved, you can e-sign your loan documents and provide details for your U.S. bank account to receive your funds.  Many Marcus customers receive funds in as little as five days.

Pros and Cons of a Marcus by Goldman Sachs Personal Loan


  • On-time payment reward: You can defer one loan payment if you meet Marcus by Goldman Sachs’ requirements.
  • No fees: There are no origination, application, late or prepayment fees.
  • High loan amounts: You can apply for a loan as high as $40,000, which is on par or higher than many personal loan companies.


  • No joint applications: Marcus by Goldman Sachs doesn’t allow cosigners.
  • No clear qualification information: There is nothing on its website that indicates certain requirements for loan approval, including minimum credit history.

Who’s a good fit for a Marcus by Goldman Sachs personal loan?

A Marcus by Goldman Sachs personal loan may be best for those with excellent credit who are looking to consolidate high-interest loans. That’s because those with higher credit scores will most likely qualify for lower rates based on their creditworthiness, which will help if you plan on consolidating other loans that have a much higher APR.  Also, if you can make on-time payments, you could take advantage of the on-time payment reward that Marcus by Goldman Sachs offers.

If you need to borrow a large sum of cash, such as for a home improvement project, Marcus by Goldman Sachs may be a good fit since you can borrow up to $40,000. Since there are no prepayment fees, those who want the option to pay back their loan quickly without getting penalized may want to consider a Marcus by Goldman Sachs loan.

But if you need a larger loan amount or want to shop around for a lower APR, check out some alternative loan options below.

Alternative personal loan options


Offers no prepayment fees and you can receive funds in as little as one business day. 


Fast approval process with personal loans up to $50,000.  It also offers a free way to monitor your credit score.  A drawback is that your loan application can only be submitted by an individual, there are potential late fees and you need to enroll in autopay to be able to receive the lowest rates.  

Discover Personal Loans

Offers repayment terms up to 84 months with no prepayment fees.  It does have the downside of charging for a late fee.

Lending Club

You can borrow up to $40,000 and get your money in as little as four business days with the ability to make your payments from your bank account.  

Marcus By Goldman Sachs® Offer Terms and Conditions
Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans). Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.


Any opinions, analyses, reviews or recommendations expressed in editorial content are of the author alone and have not been reviewed, approved or otherwise endorsed by the advertiser. We make every effort to provide up-to-date information, however we do not guarantee the accuracy of the information presented. Consumers should verify terms and conditions with the institution providing the products. Articles may contain some sponsored content, content about affiliated entities or content about clients in the network. The loan offers that appear on this site are from companies from which LowerMyBills receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). LowerMyBills does not include all lenders or offers available in the marketplace.


LowerMyBills is compensated by third-party advertisers, however, any opinions, analyses, reviews or recommendations expressed in editorial content are of the author alone and have not been reviewed, approved, or otherwise endorsed by the advertiser. While reasonable efforts are made to maintain accurate information, the information is presented without warranty.

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