Marcus Personal Loans is rated as one of the best unsecured personal loans you can get in the United States. This means that you don’t need a Collateral like a car or a house to get the loan.
This personal loan is issued by Goldman Sachs Bank USA and is good for debt consolidation, home financing, and lots more. This article would give you every detail you need to know about this personal loan and why you should go for it.
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Marcus Personal Loans
The Marcus personal loan is a brand under Marcus by Goldman Sachs. Goldman Sachs Bank uses this brand to provide financial solutions to individuals. Other financial products under this brand include deposits and withdrawals accounts, online savings accounts, credit cards, business cards, and lots more.
In this article, we will focus on the personal loan offered by Gold Sachs Bank under this brand.
Benefits of Marcus Personal Loans
Before you apply for a loan from a lender, you should consider what you stand to gain in the long run. You may be wondering why you have to apply for a personal loan from this company when you have other options of lenders to choose from.
The personal loan from Marcus is rated as one of the best loans because of its benefits. They include:
- You are not required to pay a signup fee for the personal loan.
- There is no late payment fee attached to the personal loan.
- Also, the loan comes with a fixed Annual Percentage Rate (APR). This means that you don’t have to worry about the APR being increased. You also know exactly how much you need to pay each month.
- If you want to get the loan for debt consolidation, you can choose to have the funds sent to your creditors directly.
- There is also no cost for prepayments (paying the loan early).
- When you repay the loan in full and on time for twelve months, you get a one-time payment reward.
- The loan is also flexible as applicants are allowed to explore and pick from the loan options provided.
- Lastly, the online and mobile services offered by the Bank make it easy for individuals to manage their loan accounts at their convenience.
These are the Benefits attached to this personal loan. The Bank also has a great customer service unit that attends to the needs of customers from the time of loan application till the last loan repayments.
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Marcus Loan Requirements
Having read to this point, you should know the benefits of getting a Marcus Loan from Goldman Sachs. Before you can apply for this loan, you need to be sure you are eligible for it. Below are the requirements you must meet to get a Personal loan from Marcus.
- Applicants should be at least 18 years. In Alabama, the minimum age is 19 years. For Puerto Rico and Mississippi, the minimum age is 21.
- A valid Bank account in the United States is also required for application.
- Also, you need an Individual Tax Identification Number (TIN) or a Social Security Number for the application.
- You also need to have an excellent credit score to be eligible for this personal loan.
These are the general requirements you should meet to get this loan. A higher credit score will earn you a loan with low rates and longer terms.
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Apply for Marcus Goldman Sachs Personal Loan
You can apply for a Marcus by Goldman Sachs Personal Loan online or by phone. The easiest and fastest method for applying for this loan is online. On the Marcus loan website (www.marcus.com), you would be checked if you prequalify for the loan first.
After this, you will be given loan options that you can choose from. As you read on, you will discover how to apply for a loan online.
How to Apply for Marcus Goldman Sachs Personal Loan Online
Applying for this personal loan online is very easy and the steps below will help you do so:
- Open a web browser on a device connected to the internet.
- Visit the Marcus loan web page with the URL www.marcus.com
- Navigate to the menu button at the top right corner of your display screen.
- Scroll down to “Loans” and click on it.
- Choose “Find your Loan” under the drop-down menu.
- Select the Amount of loan options you want.
- Set the Monthly payment rate that is convenient for you.
- From the drop-down menu, choose the reason for your loan (i.e., Debt Consolidation, Home improvement, etc.).
- Fill in your “Name”, “Date of Birth”, “Email address”, “Total Annual income”, and “Monthly housing payment”.
- Also enter your “Employments Status”, “Address”, “Suite”, “City”, “State”, and “Zipcode” in the required fields.
- Read through the terms and conditions and tick the box indicating that you agree.
- At the bottom of the page, click on “Find my Loan options”.
The loan options that suit your creditworthiness would be displayed on your screen. Follow all other instructions on your screen to complete the application process online.
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Marcus Personal Loans Sign Up
The only way you can sign up for a Marcus personal loan account is by applying for the loan online. During the loan application process online, you will be asked to create an account with a valid email address and Password. Take note of these login details as you will be using them to access your account online or with the Marcus mobile app.
However, when you apply for a personal loan physically, you will have to create an account online to access your loan account.
How to Sign Up for a Marcus Personal Loan Account
To create an account for online access, follow the steps below:
- Visit the Marcus Login page with the URL www.marcus.com/us/en/login
- At the top of the page, click on “Create Login”.
- Enter your “Welcome code” on the signUp form (This is optional).
- Fill in the required details on the form such as your “Name”, “Date of Birth”, and “SSN or ITIN”.
After this, click on the Confirm button at the bottom of the page and follow every other instruction on your screen to complete the process.
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Marcus Personal Loans Login
With your Marcus account, you can pay your bills, view your transaction history, update your personal information and carry out other transactions.
There are two ways you can log in to your account. You can do so online or with the mobile application. The next section of this article will guide you on how to log in to your Marcus account online.
How to Login to your Marcus Personal Loans Account Online
To access your account online, follow the steps below:
- Go to marcus.com with your device.
- Click on “Log in” at the top right corner of your display screen.
- Fill in your account “Email address” and “Password” in the required fields.
- Click on Login.
This is how to log in to your account on the platform. If you have forgotten your account password, you should click on “Create or reset password”.
Marcus Loan Credit Requirements
To get approved for a personal loan by Marcus, you need to meet the minimum credit score (660). Although the company does not disclose the minimum credit score needed for application, it offers loans to applicants with good credit.
This is because higher credit worthiness increases the chance of the borrower paying back on time. The loan Personal loan from Marcus can be used for Consolidating debts, home improvement, vacation, wedding financing, and relocation.
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Frequently Asked Questions
If still have questions related to the Marcus Goldman Sachs Loans, this article has got you covered. In this section of the article, you would get answers to the questions most people ask about this loan.
If you want to find out more about the personal loans offered by Marcus, read through the section of the article carefully.
How do I Qualify for a Marcus Personal Loan?
To get a personal loan from Marcus, you need to have a good to excellent credit score. You also need to provide your proof of income and your accurate employment status as this will be proof of your creditworthiness.
There are some other factors that can determine your eligibility for the loan including the amount of the loan and the term. Since the loan offered by the bank is unsecured, your credit score will play a major role during approval.
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What Can I Use the Personal Loan for?
Marcus offers loans to individuals who want to consolidate their debts, improve their homes, finance weddings, go on a vacation or relocate. However, you cannot use this loan to refinance student loans, purchase a new how, or for business and illegal purposes.
What is the relationship between Marcus and Goldman Sachs?
Goldman Sachs is a financial company that offers financial solutions to customers to improve their financial wellness. To achieve this, the company designed the brand Marcus by Goldman Sachs. It issues financial solutions succah as loans and credit cards through this brand.
How Long Does the Approval Process Take?
When you are considered creditworthy by Marcus by Goldman Sachs), your loan application can be approved within 24 hours. If your application is approved, it will take about two to three working days to receive the funds.
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How do I Repay my Marcus Personal Loan?
You can make payments when you log in to your account on www.marcus.com You can also choose to set up automatic payments. The company also allows you to make payments by phone or via mail.
How do I Contact Marcus By Goldman Sachs Customer Service?
You can contact Marcus Customer Service online at www.marcus.com Scroll down to the bottom of the page and click on “Contact Us”. You can get information on how to make your payments by phone or via mail from the customer service unit.
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