Personal loans are often used to settle other types of debt or utilized in emergencies. They have a fixed interest rate and a fixed monthly payment plan so that the borrower will know what they need to pay before agreeing on the loan.
There are many uses for personal loan funds, such as debt consolidation, making major purchases, or paying an expensive medical bill. No matter the use of the loan, it is always helpful to have access to emergency funds. Fortunately, Marcus by Goldman Sachs Personal Loans is a great option, especially if they invite you to apply.
In this article, you’ll learn the key features of the Marcus by Goldman Sachs Personal Loans and how you can apply.
Marcus by Goldman Sachs Personal Loans Overview
The first thing you need to know about Marcus by Goldman Sachs Personal Loans is that they have been discounted for now.
However, it does not mean that they are not being offered today. You can still avail of the Marcus by Goldman Sachs Personal Loans through an invite-only.
This is because the company is slowly moving forward with its other goals but still wants to remain in the loan market without causing too much disruption.
With that in mind, here are some key features that might interest you if you get an invite from them.
Personal Loan Details
Marcus by Goldman Sachs Personal Loans typically offer loans ranging from $3,500 to $40,000. Note that this depends on your creditworthiness, which they will check during the application process.
These loans do not have any sign-up fee, prepayment, late payment, or any other fee. When you pay on time, you are heavily rewarded by giving a loan for a month without having to deal with any interest.
All you need to do is pay on time for the next 12 months and immediately qualify for this reward.
Enroll in AutoPay
It is highly recommended that if you have Marcus by Goldman Sachs Personal Loans, you should enroll in their AutoPay feature.
The AutoPay feature lets you link your bank account to pay the monthly bill automatically. This will help you unlock their reward since you won’t have to make manual payments and risk paying late.
Another benefit of enrolling for the AutoPay feature is a deduction of 0.25% from your interest rate.
Download the App for More Features
They also have a mobile application to help you better manage your loan. You can track your personal loan progress for better budget management.
You also check the principal amount which can help you understand your loan much better.
There are a lot more features to discover with the Marcus by Goldman Sachs app, so be sure to download it once you get approved for the loan.
Marcus by Goldman Sachs Personal Loans Interest Rates
Marcus by Goldman Sachs Personal Loans often have different interest rates depending on your creditworthiness.
It starts at 6.99% and can go up to 24.99%. Many other factors will dictate your interest rate.
This includes the loan’s purpose, loan term, credit history, and debt-to-income ratio.
Who is Marcus by Goldman Sachs Personal Loans Best For?
Marcus by Goldman Sachs Personal Loans are good for clients who want to consolidate their debt from different accounts.
If you want a personal loan that you can pay off in as short as 36 months, this is your best option. Those with excellent credit scores can also apply for this personal loan and have the best experience.
Lastly, users who don’t have to pay any miscellaneous fees like prepayment, sign-up, and late payment fees should consider getting the Marcus by Goldman Sachs Personal Loans.
Contact Details
If you need assistance with the application or have inquiries about the personal loans offered, you can always check the official website for more information.
You can also call their customer service hotline at 1-844-MARCUS1. You can also visit their main office at 11850 South Election Road, Draper, UT 84020.
Applying for the Marcus by Goldman Sachs Personal Loans
As mentioned above, personal loans are not being offered to the public.
You will only get an invite from them, and should you accept it, you can then process your application.
If you want to know how to qualify for Marcus by Goldman Sachs Personal Loans, check it out below.
How to Qualify for Marcus by Goldman Sachs Personal Loans
You need to keep a few things in mind to qualify for Marcus by Goldman Sachs Personal Loans and get the invite. Your credit score will always have a direct impact on your qualification.
You must have an above-average credit score. Any recent inquiries from other personal loans will be poorly reflected on your application.
The required income amount should have a good ratio against your current debt, as reflected on your credit report. All applicants must not have any history of defaults or late payments.
How to Apply for Marcus by Goldman Sachs Personal Loans
Now that you know you’re qualified for Marcus by Goldman Sachs Personal Loans, all you need to do next is wait for the invite. You will receive an invitation code through email or mail. If you don’t have one, you won’t be able to apply.
Once you receive the invitation code, head over to the official website and enter your invitation code. Fill out the online application form and provide the documents for verification.
Review all the details, including the terms and conditions, before submitting your application. All you need to do now is to wait for their approval. You’ll receive an explanation within 10 days if it is not approved.
Conclusion
Many people get the Marcus by Goldman Sachs Personal Loans to help them with the ever-growing cost of living.
If you have plans for the future and want the funds to get them without breaking your bank account, go for the Marcus by Goldman Sachs Personal Loans.
Their competitive interest rates, wide range of payoff terms, and absence of extra fees make it a very enticing choice.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
