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Marcus by Goldman Sachs Personal Loans: 2024 Review

Written by Edited by
Published on January 01, 2024 | 2 min read

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As of Jan. 6, 2023, Marcus by Goldman Sachs stopped offering personal loan products through Bankrate. It is also pulling back from unsecured personal loans on the whole, though existing loans will still be serviced by the bank.

Marcus — the online branch of Goldman Sachs Bank — also still offers savings products and credit cards. For those interested in an online personal loan like those Marcus provided, there are plenty of lenders to choose from that offer similar services and competitive rates.

Alternatives to Marcus by Goldman Sachs loans

While shopping around will help you find the best personal loan for your financial situation, here are a few online lenders that contend with what Marcus by Goldman Sachs previously offered.

Lender APR range Loan amounts
SoFi 8.99%-29.49% $5,000–$100,000
LightStream 6.94%-25.29% $5,000–$100,000
Achieve 8.99%-35.99% $5,000–$50,000

SoFi

Rating: 4.8 stars out of 5
4.8
  • Green circle with a checkmark inside

    Pros

    • Co-borrowers allowed.
    • Optional fees.
    • Range of loan amounts.
    Red circle with an X inside

    Cons

    • Good-to-excellent credit required.
    • High minimum loan amount.
    • No physical branches.

LightStream

Rating: 4.7 stars out of 5
4.7
  • Green circle with a checkmark inside

    Pros

    • No fees.
    • Low minimum APR.
    • Range of loan terms.
    Red circle with an X inside

    Cons

    • High minimum loan amount.
    • No tailored prequalification.
    • Requires a strong credit profile.

Achieve

Rating: 4.7 stars out of 5
4.7
  • Green circle with a checkmark inside

    Pros

    • Low minimum APR.
    • Fast funding.
    • Low minimum credit score.
    Red circle with an X inside

    Cons

    • Origination fee.
    • High minimum loan amount.
    • Limited availability.

Why doesn’t Marcus by Goldman Sachs offer personal loans anymore?

Marcus hasn’t publicly disclosed why it shut its doors on personal loan products. However, a 2022 Bloomberg report asserts that the online branch of Goldman Sachs Bank has been scaling 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.”

As of now, Marcus will continue to offer saving accounts and credit cards through its online portal.