Marcus by Goldman Sachs Personal Loan Review (2026)
Marcus by Goldman Sachs discontinued new personal loans in January 2023. Here's what happened, what existing borrowers should know, and no-fee alternatives.
Loan Amount
$3,500 - $40,000
APR Range
6.99% - 29.99%
Funding Time
1-4 business days
Min. Credit Score
660
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Overview
As of 2026, Marcus by Goldman Sachs no longer accepts new personal loan applications. Goldman Sachs exited consumer personal lending in 2023 and sold its loan portfolio; existing loans are still serviced. The details below are historical. Existing Marcus loans keep their original rate, payment schedule, and no-prepayment-penalty terms, and Marcus today offers only high-yield savings and CD products under the Goldman Sachs Bank USA brand. The personal-loan details below are kept for reference and historical comparison; if you need a new loan, see the no-fee alternatives noted throughout this review.
This is one of 22 lenders in our personal loan reviews. Before you commit to Marcus by Goldman Sachs, it's worth seeing how its terms stack up against a broader personal loan search, and against installment loans if you want predictable payments over a fixed term. Consolidating debt? Compare it with a purpose-built debt consolidation loan as well.
Pros and Cons
Pros
- No fees at all
Marcus charges no origination fees, no late fees, and no prepayment penalties. What you see is what you pay.
- Backed by Goldman Sachs
The stability and reputation of Goldman Sachs provides confidence and reliability that your lender will be around.
- On-time payment reward
Make 12 consecutive on-time payments and Marcus may offer to delay your next payment with no interest accrual.
- Competitive rates for good credit
Starting at 6.99% APR, Marcus offered competitive rates for borrowers with good to excellent credit.
- Simple, transparent process
The application is straightforward with clear terms and no hidden surprises.
Cons
- Higher credit score requirement
Marcus typically requires a credit score of 660 or higher, excluding many borrowers with fair credit.
- No joint applications
Unlike some competitors, Marcus doesn't allow co-borrowers or co-signers on personal loans.
- Funding can take several days
While some lenders offer fast funding, Marcus may take 3-4 business days to disburse funds.
- No direct creditor payment
For debt consolidation, you'll receive funds directly rather than having Marcus pay creditors.
Loan Details
| Loan Amounts | $3,500 - $40,000 |
| APR Range | 6.99% - 29.99% |
| Loan Terms | 36 to 72 months |
| Funding Time | 1-4 business days |
| Minimum Credit Score | 660 |
In-Depth Analysis
Marcus launched in 2016 as Goldman Sachs' consumer-banking brand and quickly originated billions of dollars in no-fee personal loans. However, Goldman Sachs has since exited consumer personal lending: it stopped originating new Marcus loans in January 2023 and sold much of the existing portfolio to third parties (including funds managed by Rithm Capital and Värde Partners). New personal loans are no longer available to the public. Marcus continues to operate its high-yield savings and CD products under Goldman Sachs Bank USA, and existing loan borrowers keep their original terms while paying whichever servicer now holds the loan. The rates and features described on this page reflect the product as it existed before discontinuation and are provided for historical context only.
Key Features
Fees Breakdown
Marcus charges absolutely zero fees. There's no origination fee, no late payment fee, no prepayment penalty, and no application fee. This is increasingly common among top-tier lenders but still a significant advantage over competitors charging 1-8% origination fees. On a $20,000 loan, you could save $800-1,600 compared to lenders charging origination fees. The on-time payment reward provides additional savings for reliable payers.
Requirements
- Minimum credit score around 660
- U.S. citizen or permanent resident
- Valid bank account
- Sufficient annual income
- No recent bankruptcies
What to Expect as a Customer
Marcus offers a clean, straightforward online experience. The prequalification process uses a soft credit check and is quick to complete. You can choose your payment due date, a flexibility not all lenders offer. The on-time payment reward is unique: make 12 consecutive on-time payments, and Marcus applies the equivalent of a portion of your interest to your final payment. Customer service is available by phone with 100% U.S.-based representatives. The mobile app and online portal are well-designed for easy loan management. Funding typically takes 1-4 business days.
Who Is Marcus by Goldman Sachs Well Suited For?
No one can take out a new Marcus personal loan. The product was discontinued in January 2023. Borrowers with good to excellent credit who want a no-fee personal loan should look at alternatives such as SoFi, LightStream, or Discover. This section is retained only to describe who the product previously suited.
Not sure your profile is a fit? If your score is the concern, our rundown of loan options for lower credit scores walks through what tends to get approved, and our fair-credit loan guide covers the middle tier.
Typical Marcus by Goldman Sachs Borrower Profile
Based on available data, here's the profile of a typical Marcus by Goldman Sachs borrower:
Credit Score
720
Monthly Income
$6,500
Loan Amount
$18,000
Average APR
13%
Loan Term
48 months
Top Purpose
Debt Consolidation
Note: This represents a typical borrower profile and does not guarantee approval or specific terms. Your actual rate and loan amount will depend on your individual financial situation.
How Does Marcus by Goldman Sachs Compare to Alternatives?
| vs Competitor | Choose Marcus by Goldman Sachs if... | Choose Competitor if... |
|---|---|---|
| SoFi | On-time payment reward, lower minimum loan amount | SoFi offers higher max ($100K), unemployment protection |
| LightStream | On-time payment reward, Goldman Sachs backing | LightStream has fast funding, Rate Beat program |
| Discover | On-time payment reward, Goldman Sachs backing | Discover offers 30-day money-back guarantee |
How to Apply
New Marcus personal loan applications are no longer accepted (the product was discontinued in January 2023)
Existing borrowers: continue making payments to whichever servicer now holds your loan
Log in at marcus.com to manage an existing loan or a Marcus savings/CD account
Need a new loan? Compare no-fee alternatives such as SoFi, LightStream, or Discover
Contact Marcus customer service with questions about an existing balance
The Bottom Line
Marcus by Goldman Sachs no longer offers new personal loans. Goldman Sachs exited personal lending in January 2023, so you cannot apply for a Marcus loan today regardless of your credit. If you have an existing Marcus loan, keep paying it on your original terms. If you're shopping for a new no-fee personal loan, consider alternatives like SoFi (no required fees, loans up to $100,000), LightStream (no fees, fast funding), or Discover (no origination fee, 30-day money-back guarantee). This page remains only as a historical reference to the discontinued Marcus product.
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Disclaimer
This review is for informational purposes only. Rates, terms, and availability may vary and are subject to change. Always verify current terms directly with Marcus by Goldman Sachs before applying. Fast Fair Loans is not affiliated with Marcus by Goldman Sachs and may receive compensation from lenders in our network. See our Advertiser Disclosure for more information.