Why Marcus?
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5.99%
APR from
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$3,500 - $40,000
Loan Amount
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3 - 6 years
Term of loan
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18 years
Age Requirement
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Regular income
Income Requirement
About Marcus
Who is Marcus
Marcus by Goldman Sachs is a lender that offers no-fee, fixed-rate personal loans. You can use its personal loans for a variety of purposes, including debt consolidation, home improvement, and for special occasions like weddings and vacations.
The company usually lends to people with fair to good credit scores, and it cautions that an applicant with a score below 660 could be considered someone with bad or poor credit, which could restrict loan options. Loans from Marcus do not require that you provide any collateral. This means you won’t lose your vehicle or home if you cannot make timely payments. However, if you do make regular payments consistently, Marcus loans carry a special on-time payment reward feature. Customers who make 12 or more consecutive monthly payments in full and on time are able to defer one payment, if they need to.
Marcus belongs to famed Wall Street bank Goldman Sachs. It is named after one of its parent company’s founders, Marcus Goldman.
Loan Specifics
Marcus offers personal loans, including loans for debt consolidation and home improvement, ranging from $3,500 to $40,000. These borrowings can be for anywhere between three and six years, with interest rates starting from 5.99% and going up to 28.99%. The company does not charge any origination or other fees for loan applications, which is great, as you are only on the hook for repaying the principal amount that you borrow and the interest on your loan. The company says that its most creditworthy applicants will qualify for the lowest rates and longest loan terms, though rates will generally be higher for longer-term loans.
Qualification Criteria
Before you get started on your application, be sure that you meet the minimum requirements for funding:
•18 years of age or older (at least 19 years of age if you reside in Alabama, and 21 years in Mississippi and Puerto Rico)
•Have a valid U.S. bank account and Social Security or Individual Tax I.D. Number
•Have a steady source of income
How to Apply
You can apply for a loan at Marcus through a paper application or online. The company also allows both existing and former borrowers to apply for another loan through them.
If you decide to apply online, you can browse through the list of loan options the company pulls up for you based on your financial information and the loan and monthly payment amounts that you choose. Marcus may request supporting documents from you to verify your identity, income and employment.
If you wish to send in a paper loan application, call the company at 1-844-MARCUS1 (1-844-627-2871) to request for a paper application, which will be mailed to your address. If you use a paper application, you will be able to select your desired loan amount and loan term on the paper application.
Loan Disbursement
Once a loan application has been approved, it should take between one and four business days for funds to be deposited into your bank account.
Contact Information
Looking for more information? Contact Marcus at 1-844-MARCUS1 (1-844-627-2871), from Monday to Friday 8am to 10 pm ET, and from 9am to 7pm ET on Saturday and Sunday.
Key Benefits
- No impact on your credit score when checking for rates and loan options
- No origination fees or any other fees
- Option to defer one payment after 12 or more consecutive full and on-time monthly payments
- Funds available in 1-4 business days
Loan requirements
- 18 years of age or older (at least 19 years of age if you reside in Alabama, and 21 years in Mississippi and Puerto Rico)
- Have a steady source of income
- Have a valid U.S. bank account and Social Security or Individual Tax I.D. Number
Payment information
- Payout hours: Get the loan funds in 1-4 business days after loan application approval
Opening hours
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8am - 10 pm ET
Monday - Friday
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9am - 7pm ET
Saturday - Sunday
Contact Information
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1-844-MARCUS1 (1-844-627-2871)
Phone
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Marcus
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