Marcus Personal Loans

Marcus is a brand that was launched in 2016 by Goldman Sachs, an investment bank and financial service company. The brand offers a variety of financial products including personal loans, savings accounts, CDs, investment accounts, and CDs. MarcusPay allows you to pay large purchases in multiple installments. This is similar to a personal loans. Marcus’ mobile app allows customers to access their financial accounts.

Marcus is a great lender for creditworthy borrowers. It offers competitive interest rates and a 0.25% rate reduction if you sign up in AutoPay. There are also no fees. Marcus doesn’t charge late fees, prepayment fees or origination fees. However, late payments can still have consequences. Marcus offers a unique perk: Customers who pay their loan on-time and in full for 12 consecutive month are eligible to defer their monthly payment for one month if they choose. Marcus will extend your loan by one month and interest will not accrue.

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How to Get a Personal Loan

Personal loan lenders let you borrow thousands of dollars and have the money in your account in a matter of days. Personal loans are more flexible than other types of loans like auto loans or mortgages. Personal loans can be secured or unsecured. You can use them to consolidate debt, pay off medical bills, or to finance major purchases.

Alternatives to Personal Loans

Personal loans are a great way to get cash quickly for major projects or emergencies, but they’re not the only option. These are alternatives to personal loans that may be more suitable for you.

Home equity loan, home equity loan or home equity line-of-credit (HELOC) are all options. You can borrow against your equity if you are a homeowner with equity in your home. Cash-out refinance loans, cash-out loans and home equity loans are convenient options to finance renovations or repairs. However, you could be subject to foreclosure if you default on your payments.

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You can balance transfer your credit card. A promotional balance transfer credit card at 0% annual percentage rates (APR) may be available to you if you have excellent credit. You may have up to 18 months to pay off your balance, depending on which card you choose. You should pay the balance off within the promotional period. Otherwise, you will be charged a high interest rate.

Save strategy. You can save money by opening a separate savings account if you don’t have an immediate expense, like a wedding or vacation. By setting aside money each payday to help you reach your goal, you can save interest and pay cash.

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Services that allow you to buy now and pay later. You can also use a buy-now, pay-later service to spread out the cost of large purchases, such as a computer or exercise machine. This service is offered by some companies without interest, but you may be charged a monthly or one-time fee. You can also pay the purchase in weekly or monthly installments.

Pay Advance: You may need cash immediately if you have an immediate financial emergency and don’t have a plan. Ask your employer to give you an advance on your next paycheck before you resort to payday loans or personal loans. While not all employers will allow this, it is possible to get a portion of your paycheck early and have it deducted from your next paycheck. This is not the same as cash advance services provided by a third-party.

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Contact a non-profit credit counseling agency for free credit counseling if you are having trouble creating a budget or repaying your debts. Although they won’t lend you money, they can help you learn the skills and tools you need to manage your finances. Search the United States Trustee Program database to find credit counselors of high quality.

Marcus Personal Loans: The Pros and Cons


  • There are no late or origination fees
  • Reward you for timely payment
  • Adjustable payment due dates
  • All 50 States Available
  • Prequalification tool is available in conjunction with a soft credit review
  • Discount of 0.25 % on AutoPay


  • Five days for loan disbursement after approval
  • Acceptance of cosigners is not possible
  • Unknown income and credit scores

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