Marcus by Goldman Sachs personal loans: 2025 review
Key takeaways
- Marcus by Goldman Sachs stopped offering personal loan products in January 2023. However, the bank is still servicing its existing loans.
- The online bank still offers credit cards, high-yield savings accounts and certificates of deposit (CDs).
- Consumers seeking a personal loan should check out lenders like SoFi, LightStream and Achieve.
While shopping around will help you find the best personal loan for your financial situation, several online lenders provide loans that are similar to what Marcus by Goldman Sachs previously offered. Not only do these lenders have competitive rates and terms, but they make it easy to apply for funding online and from home.
Many of the best personal loan companies also offer fast funds transfers within a few business days. If you’re in the market for a personal loan and were considering Marcus, the following companies can offer the funding you need.
| Lender | APR range |
Loan amounts |
|
SoFi |
8.99%-29.49% (with autopay) | $5,000–$100,000 |
| LightStream | 6.49%-25.29% (with autopay) | $5,000–$100,000 |
| Achieve | 8.99%-29.99% | $5,000–$50,000 |
SoFi
SoFi
-
SoFi is a great option for borrowers who make a steady, decent income, have a good credit score and a positive repayment history. SoFi’s loan amounts range from $5,000 to $100,000 and this online lender has several repayment terms to choose from — allowing you to tailor your payments to your needs. SoFi also offers perks like discounts for enrolling in autopay and the potential for same-day funding.
Pros
- Co-borrowers allowed
- Competitive rates
- Large loan amounts offered
Cons
- Good-to-excellent credit required
- High minimum loan amount
- May have to accept origination fee to access lowest rates
LightStream
LightStream
-
LightStream offers a wide range of loan amounts and repayment terms, making it ideal for borrowers who need to consolidate high interest debt or tackle a large home improvement project. The lender boasts a low APR but requires a good-to-excellent credit profile to qualify. If you don’t meet the eligibility criteria, you can enlist the help of a joint applicant to boost your approval odds or to score a more competitive rate.
Pros
- No fees
- Low minimum APR
- Rate Beat program
Cons
- High minimum loan amount
- No prequalification
- Requires strong credit
Achieve
Achieve
-
Achieve is an online lender that offers personal loans up to $50,000. It offers competitive rates for the most creditworthy borrowers, and it has a relatively low minimum credit score requirement of 640. Plus, the lender allows joint loans and is known for its speedy application process and same-day approval. However, it does have a high minimum amount and charges origination fees.
Pros
- Low minimum APR
- Fast funding
- Low minimum credit score
Cons
- Origination fees
- High minimum loan amount
- Not available in all states
Why doesn’t Marcus by Goldman Sachs offer personal loans anymore?
Marcus never publicly disclosed why it shut its doors on personal loan products. However, a 2022 Bloomberg report asserted that the online branch of Goldman Sachs Bank chose to scale back its consumer lending division. “Consumer lending is being reigned in,” the report read. “While the bank will keep credit-card partnerships, it will be very selective about adding to the list.”
For now, Marcus will continue to offer savings accounts and credit cards through its online portal. If you already have a Marcus personal loan, you should know the bank pledged to continue servicing those accounts.
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