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Marcus by Goldman Sachs® Personal Loans Review: No Fees and Long Terms

Review Updated
Dana George
By: Dana George

Our Loans Expert

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Marcus by Goldman Sachs® has taken the online personal loan industry by storm. It's easy to see how its low interest rates and uncompromising no-fee commitment have made Marcus by Goldman Sachs® popular with borrowers. Read our full Marcus by Goldman Sachs® personal loan review to see if you should apply.


Logo for Marcus
Rating image, 5.0 out of 5 stars.
Minimum Credit Score
720 FICO
Loan Amounts
$3,500 - $40,000
APR Range
6.99% - 24.99%
Term Length
36 - 72 months

Marcus is one of the most consumer-friendly personal loan lenders. Besides charging no sign-up fees, late fees, or prepayment fees, Marcus offers special perks like an interest rate reduction for auto-payments, and an optional interest-free one-month payment deferral.

  • No fees
  • Opportunity to defer a payment
  • Long repayment term
  • Simplifies debt consolidation
  • No joint applications

Full Marcus by Goldman Sachs® personal loan review

This personal loan is a good fit for: Borrowers with relatively high credit scores looking for a no-fee loan.

Top perks

No fees: Marcus is not exaggerating when it says "no fees." It charges no sign-up fees or late payment fees. It also won't charge you a fee if you decide to pay the loan off early. The lack of fees makes Marcus by Goldman Sachs® one of the most consumer-friendly personal loan companies.

Payment deferral: Another sweet benefit offered by Marcus is its monthly payment deferral. It works like this: Once you make 12 consecutive monthly payments in full and on time, the lender allows you to skip a payment without taking a hit to your credit score. Hold onto that perk just in case something happens, like you're hit with a huge unexpected expense and need extra funds to get it paid.

Low APRs: Marcus has some of the best low interest personal loans around. The most creditworthy borrowers can qualify for a particularly good loan interest rate. This is especially important if you're looking for an unsecured loan with a low interest rate.

Large loan sizes and long repayment terms: Whereas other lenders max out at $25,000 loans and four- or five-year repayment terms, Marcus offers loans as large as $40,000 for periods as long as six years. This makes it a good choice for people who need a larger loan and more time to pay it off. (Though you may find you'll pay a higher APR if you go for a longer repayment period.)

Simple debt consolidation: If you do go to Marcus for a debt consolidation loan, it will automatically pay your existing creditors. So if you have three credit cards with combined balances of $10,000, you could get a $10,000 loan from Marcus and have it send a check to each of them. Not only is this more convenient than paying three separate creditors, but it helps you pay off your debts once and for all.

AutoPay Discount: You can reduce your loan's APR by 0.25% if you sign up for AutoPay. Automating your payments also makes it easier to ensure you don't accidentally miss a bill.

Get a quote without hurting your credit score: This advantage isn't unique to Marcus, but it's worth highlighting. Marcus only needs to do a soft credit check to give you a quote, which won't hurt your credit score. It's only when you accept the loan that Marcus will conduct a hard check to verify your information. The real advantage of a soft check is that it allows you to shop around for a personal loan that fits your needs without dinging your credit score.

What could be improved

The upper-end interest rate: The upper-end rate is not horrible (in fact, it's lower than most of its competitors). But it is a reminder to apply when your credit score is high enough to snag the lowest rate.

No joint applications accepted: If you are hoping to get credit with a spouse or partner, this is not the place to do it. Marcus does not accept joint applications.

How to qualify for a Marcus by Goldman Sachs® personal loan:

  • Have a FICO® credit score of at least 720
  • Be at least 18 years of age (19 in Alabama, 21 in Mississippi and Puerto Rico)
  • Have a valid U.S. bank account
  • Provide Social Security or Individual Tax ID Number

Application process:

You can apply for a Marcus by Goldman Sachs® personal loan online or by phone.

  • Fill in some basic personal information. Initially, Marcus will conduct a soft credit check, meaning that your credit score won't take a hit when you get a quote.
  • Based on the quote you receive, you will need to choose the amount you want to borrow and your loan term.
  • If you decide to proceed with the loan, you'll need to fill in some more details and Marcus will conduct a hard credit check.
  • You may be asked to supply financial documents, such as recent pay stubs, bank statements, your full Social Security number, Individual Tax ID Number, and a photo ID.
  • Finally, you will sign a loan agreement and you could receive your funds in as little as three days.

Alternatives to consider

Not every lender is perfect for every borrower. Factors like your income, FICO® Score, and even the length of your loan term may sway you toward one lender over another. Do yourself the favor of comparing personal loans from several lenders. For example:

  • Upstart accepts credit scores as low as 580 and allows you to repay your loan in 36 to 60 months. If you're looking for a very small personal loan, Upstart loans are available for as little as $1,000.
  • Avant loans are specially created for borrowers with poor credit scores (as low as 580). It offers loans from $2,000-$35,000 and repayment terms of 24 to 60 months.
As of May. 22, 2023
Min. Credit Score
Loan Amounts
APR Range
Next Steps
Rating image, 5.0 out of 5 stars.
720 FICO
$3,500 - $40,000
6.99% - 24.99%
Rating image, 4.0 out of 5 stars.
$1,000 - $50,000
4.60% - 35.99%
Rating image, 4.5 out of 5 stars.
$2,000 - $35,000
9.95% - 35.99%

*Upstart Loan Disclaimer

The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 21.97% and 36 monthly payments of $35 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application.

*Marcus by Goldman Sachs Disclaimer

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. Rates range from 6.99% to 24.99% APR, and loan terms range from 36 to 72 months. For NY residents, rates range from 6.99%-24.74%. Only the most creditworthy applicants qualify for the lowest rates and longest loan terms. Rates will generally be higher for longer-term loans. 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. Receive a 0.25% APR reduction when you enroll in AutoPay. This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See loan agreement for details.

This personal loan is right for you if:

A Marcus by Goldman Sachs® personal loan may be a good fit for you if the following statements apply:

  • You have a relatively high credit score. You'll need excellent FICO® Score to qualify for a Marcus by Goldman Sachs® personal loan. If that describes you, you will find that Marcus offers lower-cost loans than most competitors.
  • You want the option to pay off debt faster. Marcus is easily a top choice for people who may want to pay off a loan early because it doesn't charge prepayment penalties or origination fees.
  • You need more time to pay off debt. Many credit cards offer 0% intro APRs on purchases and balance transfers for 12-18 months. As such, they're an excellent option if you can pay them off before the promotional rate expires. However, if you might need up to six years to repay a larger loan, a Marcus personal loan may be a better fit.

Our Loans Expert