Marcus by Goldman Sachs Personal Loans Full review
If you're in search of a loan with exceptional rates and zero fees, take a look at Marcus by Goldman Sachs Personal Loans!
Get the Funds You Need with Marcus Personal Loans
Marcus by Goldman Sachs is a leading provider of personal loans, offering loan amounts ranging from $3,500 to $40,000 and repayment periods from 36 to 72 months. If you have good to exceptional credit, you could be eligible for a loan without any minimum credit score requirement. However, most borrowers approved by Marcus have a credit score of 660 or higher.
Additional Eligibility Requirements
In addition to a good credit history, Marcus requires borrowers to have a valid U.S. bank account, a Social Security number, and be at least 18 years old (19 in Alabama, 21 in Mississippi, and 21 in Puerto Rico).
If you meet these requirements, Marcus personal loans can be an excellent option for you, especially considering the notable benefits they offer.
What Sets Marcus by Goldman Sachs Personal Loans Apart?
Marcus by Goldman Sachs was established in 2016 to provide various financial services, including savings accounts and personal loans. Here are some key features that make Marcus personal loans stand out:
No Fees or Penalties
Unlike many other lenders, Marcus by Goldman Sachs does not charge any sign-up, late payment, or origination fees. Additionally, there are no fees if you decide to pay off your loan early. This customer-friendly approach ensures that you won’t face any unexpected expenses with your loan.
Low APRs
Marcus offers some of the best low-interest personal loans, especially for borrowers with excellent credit. If you qualify for a loan, you can benefit from attractive interest rates. This is particularly important if you’re looking for an unsecured loan with a low APR.
Payment Deferral
One unique perk of Marcus personal loans is the ability to defer a monthly payment after making 12 consecutive full and on-time monthly payments. This can come in handy if you encounter unexpected expenses and need some extra financial flexibility.
Generous Loan Amounts and Terms
Marcus provides loans up to $40,000, which is higher than the limits set by many other lenders. The loan terms also extend up to six years, giving you ample time to repay your loan. Keep in mind that choosing a longer repayment period may result in a higher APR, so it’s essential to consider your financial situation and needs.
No Negative Impact on Credit Score
When you request a quote from Marcus, they will only perform a soft credit check, which does not affect your credit score. This allows you to compare personal loan offers without worrying about potential credit score drops. Marcus will only conduct a hard credit check if you decide to proceed with the loan.
Debt Consolidation Made Easy
If you’re looking to consolidate your debts, Marcus can simplify the process for you. With a debt consolidation loan, Marcus will directly pay off your existing creditors. This not only saves you time but also helps you manage your debt more effectively.
Applying for a Marcus by Goldman Sachs Personal Loan
If you’re interested in applying for a Marcus personal loan, we have a comprehensive guide that walks you through the application process step by step. Check out our article on how to apply for a Loan on Marcus to get started.
