Marcus by Goldman Sachs alternatives

Compare alternatives to Marcus by Goldman Sachs

These lenders offer simple, online loans for debt consolidation and other expenses — similar to what you could find with Marcus. Select your credit score and state, then choose Show me my personalized options to see more loans you could qualify for.

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Name	Product	Filter Values	APR	Min. credit score	Loan amount
Upstart personal loans Finder Rating: 4.15 / 5: ★★★★★ Upstart personal loans Finder Rating: 4.15 / 5: ★★★★★			4.60% to 35.99%	300	$1,000 to $50,000	This service looks beyond your credit score to get you a competitive-rate personal loan.	Go to site More Info	Compare	loading Fetching your data…
Best Egg personal loans Finder Rating: 3.8 / 5: ★★★★★ Best Egg personal loans Finder Rating: 3.8 / 5: ★★★★★			8.99% to 35.99%	640	$2,000 to $50,000	Fast and easy personal loan application process. See options first without affecting your credit score.	Go to site More Info	Compare	loading Fetching your data…
SoFi personal loans Finder Rating: 4.45 / 5: ★★★★★ SoFi personal loans Finder Rating: 4.45 / 5: ★★★★★			8.99% to 25.81%	680	$5,000 to $100,000	A highly-rated lender with competitive rates, high loan amounts and no required fees.	Go to site More Info	Compare	loading Fetching your data…
Bankrate Finder Rating: 4.3 / 5: ★★★★★ Bankrate Finder Rating: 4.3 / 5: ★★★★★			4.98% to 35.99%	Poor to excellent credit	$1,500 to $100,000	Get prequalified loan offers in 2 minutes or less. Will not affect your credit score.	Go to site	Compare	loading Fetching your data…
Upgrade personal loans Finder Rating: 4 / 5: ★★★★★ Upgrade personal loans Finder Rating: 4 / 5: ★★★★★			8.49% to 35.99%	620	$1,000 to $50,000	Check your rates with this online lender without impacting your credit score.	Go to site More Info	Compare	loading Fetching your data…

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Our take on Marcus by Goldman Sachs

Marcus personal loans were best for good to excellent credit individual borrowers looking for a competitively priced personal loan. Offering interest rates between 6.99% and 24.99% APR, its rates started lower than many other lenders and you could save an additional 0.25% off your rate by enrolling in autopay.

Marcus also didn't charge any origination, prepayment or late fees on its personal loans. Other lenders like Lending Club, Upgrade and Avant charge origination fees from 2% to 8% on their loans, which can cost hundreds of dollars depending on the size of the loan. So, if you have good credit, you could have saved on these fees with Marcus.

However, only the best credit borrowers could quality for the lowest rates with Marcus, coborrowers aren't allowed, and you needed a minimum 720 credit score to qualify. And it only offered loans up to $40,000 and self-employed borrowers may not be eligible.

Rates, fees and terms

Marcus by Goldman Sachs personal loans came with rates between 6.99% to 24.99% APR. There were no fees to apply, no prepayment penalties and no late fees. And if you set up autopay from a bank account, you could take advantage of a 0.25% discount off your APR.

If you’re a military service member, you can have qualify for a 4% APR. In some cases, spouses or domestic partners of service members could also qualify for a 4% rate.

You could borrow between $3,500 and $40,000. And you'd have three to six years to repay the loan. Use our calculator to find out how much you would have paid at different rates, terms and loan amounts.

Marcus by Goldman Sachs reviews and complaints

Customers gave Marcus by Goldman Sachs mixed reviews. On Trustpilot, many ratings were positive, but a large percentage are "poor" or "bad," too. Unhappy customers reported frustration with the poor quality of customer service and reported inconsistencies in information given by representatives. Some also reported trouble with the online loan application.

But it’s not all bad: Many reviewers praised Marcus for its speed and convenience. It also came in second place in the 2020 J.D. Power Consumer Lending Customer Satisfaction Survey — though it didn't rank in 2021. The survey ranked lenders based on the terms and conditions, application process and how the lender managed the loan after approval.

Many online lenders lost rankings in 2021, due in part to COVID-19.

How to qualify

To be eligible for a loan, you had to meet a few minimum requirements:

• Valid US bank account
• Social Security number or individual tax identification number
• Age of majority in your state

There were no hard credit requirements, but the average borrower had a credit score between 700 and 740. Marcus also didn't have any minimum income requirements, though you had to prove you could pay back your loan.

How the application worked

Marcus offered an online application only. To get started, borrowers could visit the Marcus website and select Review Your Options to fill out the prequalification form. You may have been required to enter your Social Security number.

If you wished to proceed with a loan offer, Marcus by Goldman Sachs would review your finances and conduct a hard credit check. If approved, you may have been asked to upload additional documents to complete the application process. However, you had the chance look over your final offer before you accept.

The whole process could take as little as three business days, depending on how involved your application is. If your loan application was denied, Marcus would mail you a letter that explains why you didn’t get the loan — if you’re able to improve your personal finances, you could have reapplied after six months.

What set it apart

Marcus by Goldman Sachs offered relatively competitive rates, especially for service members. Its lack of late fees were appealing, although the increase in APR on a late payment could have cost you more than a single fee. You could also skip a payment for a month with no interest accrued if you make on-time payments for 12 months. But overall, it offered similar loan amounts and terms as other online lenders and has average customer reviews.

Was Marcus by Goldman Sachs legit?

Yes, Marcus By Goldman Sachs was part of Goldman Sachs Bank, an investment bank that has been around since 1859. It protected your information with SSL encryption and multifactor authentication. It might have share your information with affiliates and third-party service providers for business purposes.

You could get clarification on how your information is being shared by contacting customer service.

Before you make a decision, you may want to compare more personal loan options. There could be a better loan out there for your needs — including lenders with offers similar to Marcus.

Frequently asked questions

Our answers to questions about Marcus by Goldman Sachs.

What was the relationship between Marcus and Goldman Sachs?

Goldman Sachs USA owns the Marcus brand, and all loans were issued by Goldman Sachs’ Salt Lake City Branch.

Can I change the day of the month my loan payment is due?

Yes, you're allowed to change your payment date three times after your first payment, according to a representative at the company.

Can I defer a payment?

If your account is in good standing, you can defer one repayment with no accrued interest after 12 months of consistent, on-time repayments.

Marcus by Goldman Sachs personal loans is not currently available on Finder

Have you considered Upstart personal loans?

This service looks beyond your credit score to get you a competitive-rate personal loan.

• Work and education get you better rates
• Hardship program
• Accepts fair credit

Learn more

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