2022 Marcus by Goldman Sachs Review
Marcus personal loans have low minimum APRs, low fees, a quick funding timeline and a good reputation. Marcus is an online division of Goldman Sachs, a multinational investment bank.
The APRs on Marcus personal loans range from 6.99% - 24.99%. There aren’t too many other lenders that have minimum APRs lower than 6.99%. And while the maximum of 24.99% may initially seem high, it’s not too bad compared to similar lenders that may charge as much as 36%. Plus, Marcus has a 0% origination fee, None prepayment fee, and None late fee. Therefore, if you get a Marcus personal loan with a low APR, it really is that cheap – you won’t have to worry about paying extra in fees.
There are only two real downsides to Marcus personal loans. The first is that you can’t apply with a co-signer. And the second is that you won’t be able to get a loan with subpar credit. You will need a 660 FICO score to qualify, reportedly.
Marcus by Goldman Sachs Review Highlights:
- Marcus loan rates: 6.99% - 24.99%
- Origination fee: 0%
- Late fee: None
- Loan sizes: $3,500 - $40,000
- Payment timelines: 36 - 72 months
- Approval time: 1 to 2 business days, usually
- Funding time: 1 to 4 business days after approval
- Reputation: Marcus holds an A+ rating from the Better Business Bureau and an average user rating of 3.3/5 on WalletHub.
- Marcus loan requirements: 660+ FICO credit score, Social Security number or Individual Taxpayer Identification number, 18+ years old, open U.S. bank account.
It’s easy to see why Marcus personal loans score well with WalletHub. If you’re interested, you can use WalletHub’s free pre-qualification tool to get a sense of your odds of approval with Marcus and other popular lenders. Below, you can see how WalletHub rates Marcus in our three key categories: Terms, Requirements & Application, and Reviews & Transparency.
Marcus Ratings by Category:
Category | Editor’s Rating |
---|---|
Terms | 4.6/5 |
Requirements & Application | 4/5 |
Reviews & Transparency | 3.5/5 |
Overall Score | 12.1/15 |
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.