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Marcus by Goldman Sachs® has taken the online personal loan industry by storm. It's easy to see how its low interest rates and uncompromising no-fee commitment have made Marcus by Goldman Sachs® popular with borrowers. Read our full Marcus by Goldman Sachs® personal loan review to see if you should apply.
Marcus is one of the most consumer-friendly personal loan lenders. Besides charging no sign-up fees, late fees, or prepayment fees, Marcus offers special perks like an interest rate reduction for auto-payments, and an optional interest-free one-month payment deferral.
Get the best rates and terms to fit your needs. Here are a few loans we'd like to highlight, including our award winners.
This personal loan is a good fit for: Borrowers with relatively high credit scores looking for a no-fee loan.
No fees: Marcus is not exaggerating when it says "no fees." It charges no sign-up fees or late payment fees. It also won't charge you a fee if you decide to pay the loan off early. The lack of fees makes Marcus by Goldman Sachs® one of the most consumer-friendly personal loan companies.
Payment deferral: Another sweet benefit offered by Marcus is its monthly payment deferral. It works like this: Once you make 12 consecutive monthly payments in full and on time, the lender allows you to skip a payment without taking a hit to your credit score. Hold onto that perk just in case something happens, like you're hit with a huge unexpected expense and need extra funds to get it paid.
Low APRs: Marcus has some of the best low interest personal loans around. The most creditworthy borrowers can qualify for a particularly good loan interest rate. This is especially important if you're looking for an unsecured loan with a low interest rate.
Large loan sizes and long repayment terms: Whereas other lenders max out at $25,000 loans and four- or five-year repayment terms, Marcus offers loans as large as $40,000 for periods as long as six years. This makes it a good choice for people who need a larger loan and more time to pay it off. (Though you may find you'll pay a higher APR if you go for a longer repayment period.)
Simple debt consolidation: If you do go to Marcus for a debt consolidation loan, it will automatically pay your existing creditors. So if you have three credit cards with combined balances of $10,000, you could get a $10,000 loan from Marcus and have it send a check to each of them. Not only is this more convenient than paying three separate creditors, but it helps you pay off your debts once and for all.
AutoPay Discount: You can reduce your loan's APR by 0.25% if you sign up for AutoPay. Automating your payments also makes it easier to ensure you don't accidentally miss a bill.
Get a quote without hurting your credit score: This advantage isn't unique to Marcus, but it's worth highlighting. Marcus only needs to do a soft credit check to give you a quote, which won't hurt your credit score. It's only when you accept the loan that Marcus will conduct a hard check to verify your information. The real advantage of a soft check is that it allows you to shop around for a personal loan that fits your needs without dinging your credit score.
The upper-end interest rate: The upper-end rate is not horrible (in fact, it's lower than most of its competitors). But it is a reminder to apply when your credit score is high enough to snag the lowest rate.
No joint applications accepted: If you are hoping to get credit with a spouse or partner, this is not the place to do it. Marcus does not accept joint applications.
You can apply for a Marcus by Goldman Sachs® personal loan online or by phone.
Not every lender is perfect for every borrower. Factors like your income, FICO® Score, and even the length of your loan term may sway you toward one lender over another. Do yourself the favor of comparing personal loans from several lenders. For example:
A Marcus by Goldman Sachs® personal loan may be a good fit for you if the following statements apply:
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Rates quoted are with AutoPay. Your loan terms are not guaranteed and may vary based on loan purpose, length of loan, loan amount, credit history and payment method (AutoPay or Invoice). AutoPay discount is only available when selected prior to loan funding. Rates without AutoPay are 0.50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. You may be required to verify income, identity and other stated application information. Payment example: Monthly payments for a $10,000 loan at 8.49% APR with a term of 5 years would result in 60 monthly payments of $205.12. Some additional conditions and limitations apply. Advertised rates and terms are subject to change without notice. Truist Bank is an Equal Housing Lender. © 2024 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Citi Personal Loan disclaimer:
**Rates as of 05-31-2024. Your APR may be as low as 11.49% or as high as 20.49% for the term of your loan. The lowest rate quoted assumes excellent credit and a loan term of 24 or 36 months. Your APR will depend on a variety of factors including your creditworthiness, term of loan, and existing relationship with Citi. For example, if you borrow $10,000 for 36 months at 15.99% APR, to repay your loan you will have to make 36 monthly payments of approximately $351.52.
There is a 0.5% APR discount if you enroll in automatic payments at loan origination. Additionally, existing Citigold and Citi Priority customers will receive a 0.25% discount to the interest rate. If you are in default, your APR may increase by 2.00%. No down payment is required. Rates subject to change without notice.
You must be at least 18 years of age (21 years of age in Puerto Rico). Co-applicants are not permitted. Loan proceeds cannot be used for post-secondary educational or business purposes.
If you apply online, you must agree to receive the loan note and all other account disclosures provided at loan origination in an electronic format and provide your signature electronically.
Credit cards issued by Citibank, N.A. or its affiliates, as well as Checking Plus and Ready Credit accounts, are not eligible for debt consolidation, and Citibank will not issue payoff checks for these accounts. If you are unsure of the issuer on the account, please visit https://www.citi.com/affiliatesproducts for a list of Citi products and affiliates.
*Marcus by Goldman Sachs Disclaimer
Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. Rates range from 6.99% to 24.99% APR, and loan terms range from 36 to 72 months. For NY residents, rates range from 6.99%-24.74%. Only the most creditworthy applicants qualify for the lowest rates and longest loan terms. Rates will generally be higher for longer-term loans. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans). Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. Receive a 0.25% APR reduction when you enroll in AutoPay. This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See loan agreement for details.
*Upstart Loan Disclaimer
The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 21.97% and 36 monthly payments of $35 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application.