Marcus by Goldman Sachs Personal Loan Review

About Marcus by Goldman Sachs®

Marcus by Goldman Sachs®

Between everyday expenses and unexpected costs, it’s easy to fall behind. Marcus by Goldman Sachs helps you end the cycle of high-interest credit card debt with a fixed rate, no-fee personal loan.

review breakdown

Interest Rates
Fees & Closing Cost
Customer Service

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About Marcus by Goldman Sachs®

Goldman Sachs conjures images of an elite Wall Street firm, rather than a bank for the everyman. That may be part of the reason why the adviser to billionaires launched its new banking services as Marcus by Goldman Sachs®, after founder Marcus Goldman. Goldman Sachs Bank USA made the consumer-banking push in 2016 when Marcus began offering personal loans online. It also offers an online savings account.

The bank is more than just a pretty name. Marcus doesn’t charge any origination or late fees — and though it’s not the only lender to do this, it is one of the few.

Before you decide to apply for a loan, however, it’s a good idea to understand the full picture of how personal loans through Marcus by Goldman Sachs work. We’ll go into full detail below to help you decide whether Marcus by Goldman Sachs is a good fit for you.

By clicking “See Offers”, you may or may not be matched with any lender mentioned in this article. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.

Marcus by Goldman Sachs personal loan highlights

  • No fees — no, really
  • Marcus by Goldman Sachs doesn’t charge any fees — for anything. Not even origination fees or late fees for missed payments.
  • On-time payment reward
  • If you make 12 consecutive on-time payments, the bank will allow you to defer one monthly payment, interest-free, but it will extend your loan by one month and you’ll need to request the deferral at least 16 business days in advance.

Marcus by Goldman Sachs at a glance

APR Range

6.99% to 19.99%*

Minimum Credit Score

Not specified


36 to 72 months

Origination Fee



What Marcus by Goldman Sachs offers

Terms: 36 to 72 months

APR range: 6.99% – 19.99%*

Loan amounts: $3,500 – $40,000

Hard pull / Soft pull: Soft Pull to see your loan options.


Fees and penalties

Origination fee: None

Prepayment fee: None

Late fee: None

Other fees: None

More than 80% of borrowers last year had a credit score of at least 660, according to Goldman Sachs Bank USA’s most recent annual report.

*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.


Eligibility requirements

Minimum credit score: Not specified

Minimum credit history: Marcus doesn’t specify the type of credit history, but you do have to have one, according to Goldman Sachs Bank USA

Maximum debt-to-income: Varies

Marcus’ website doesn’t get into specifics about the eligibility requirements needed to qualify for a personal loan, though it does say that loan amounts may vary depending on its purpose and your income and creditworthiness. More than 80% of borrowers had a credit score above 660, according to Goldman Sachs Bank USA’s most recent annual report.

You’ll also need to be at least 18 years old, 19 if you live in Alabama or 21 if you live in Mississippi or Puerto Rico. Finally, you’ll also need a U.S. bank account, and a Social Security or Individual Taxpayer I.D. number.

Applying for a personal loan from Marcus by Goldman Sachs

You can apply for a personal loan from Marcus by Goldman Sachs by mail or online (the easiest and fastest way) where you’ll need to enter personal information and upload a photo ID and financial documents such as bank statements, W-2s and pay stubs. If you’re applying for a loan using a smartphone, simply snap clear photos of these documents.

Track the status of your application by logging into your account online. If you applied by mail, however, the bank will instead give you a call when the application status changes.


Pros & cons



Flexible terms. Borrowers can choose a monthly payment and loan term that suits them. Marcus then attempts to match one of its loans to your preferences.


You can defer a payment if you have an on-time payment history. However, this will add an extra month to your loan.


There are no fees at all. We’ll say it again: No origination fees, no late fees, no check processing fees — nothing.



Competitors may offer lower rates. See our chart below for alternatives.


Relatively high credit requirements. Though its website does not provide a minimum credit history, borrowers are likely to have higher credit scores and an established credit history, according to Goldman Sachs Bank USA’s most recent annual report.

Who's the best fit for a Marcus by Goldman Sachs personal loan?

No one likes to pay fees. But if paying fees really gets your goat, then Marcus by Goldman Sachs might be a good option for your personal loan. However, just because there are no late payment fees, that doesn’t mean zero penalties for making late payments. Late payments will still be recorded on your credit report, and you’ll accrue more interest than you otherwise would have.

This loan is the best fit for those with good credit — last year, more than 80% of borrowers had a credit score above 660, according to Goldman’s most recent annual report. You can compare personal loan offers here.


Alternative personal loan options



SoFi has demanding requirements for approved applicants, but if you can meet them, you can get a slightly better rate compared with Marcus. SoFi perks include a payment pause in the unfortunate event that you lose your job, and even offers job placement assistance.


APR Range

5.99% – 18.28%*

Credit Requirement

Minimum Credit Score is 680


24 to 84 months

Origination Fee


*Rates after applying a 0.25% discount for AutoPay


LightStream is another rare lender that charges zero fees. If you sign up for autopay, you may be eligible for interest rates far below those of Marcus. However, there is no on-time payment reward such as the one offered by Marcus.


APR Range

3.99% to 19.99%*

Credit Requirement

Minimum Credit Score Not specified


24 to 144* months

Origination Fee


*Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates without AutoPay may be higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66.


Upgrade also offers slightly lower interest rates than Marcus by Goldman Sachs. This may be a good option if you don’t quite have the credit score to qualify for a loan from Marcus, as you’ll only need a minimum credit score of 620 to qualify.


APR Range

7.99% to 35.97%*

Credit Requirement

Minimum Credit Score of 620


36 or 60 months

Origination Fee

2.90% - 8.00%

*The APR on your loan may be higher or lower. Actual rate depends on credit score, credit usage history, loan term and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan.