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Marcus Reviews


bestfor-icon Good for individuals with very good-excellent credit

Written by Bob Phillips

About Marcus by Goldman Sachs | Read More


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  • 1-844-627-2872
  • Headquarters: 11850 South Election Rd. Draper, UT 84020
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Marcus by Goldman Sachs Personal Loans Review

Marcus is a personal loan and online banking provider owned by Goldman Sachs. Marcus was launched in 2016 to offer products designed to address consumer pain points regarding personal finance. 

Marcus is named after Goldman Sachs’ founder, and its online platform combines digital technology with the financial strength and 150-year history of Goldman Sachs. Marcus has over $50 billion in bank deposits and $5 billion in consumer loan balances in the United States and the United Kingdom, all without the traditional brick-and-mortar branch model.

Marcus by Goldman Sachs Personal Loans Highlight


Min Credit Score


APR. Fixed Rate


Loan Amount

36-72 Months

Repayment terms


Soft Credit Pull


Lender Type


Other Fees


Origination Fee


Prepayment Fee

5 days

Funding Time

Pros & Cons

  • con-icon No origination fees
  • con-icon On-time payment reward system
  • con-icon Good customer support
  • con-icon Borrowers need good credit
  • con-icon No option to add a cosigner
  • con-icon No next day funding

Loan Purpose

  • Credit Card Refinance
  • Debt Consolidation
  • Medical Expenses
  • Vacation
  • Other

Loan Type

  • Unsecured Personal Loans

Marcus by Goldman Sachs Personal Loans Terms & Requirements

Marcus offers unsecured fixed-rate personal loans. These loans can be used for any purpose the borrower chooses, from debt consolidation to vacation. Marcus’s lenders offer loans for as little as $3,500 with repayment terms as short as 36 months.

Applying to Marcus

Applying for a personal loan with Marcus is a straightforward 1- screen process.

After completing this form, you will be quickly pre-qualified or denied a loan. If pre-qualified, you then choose your loan amount and the length of your payment period (subject to Marcus’ approval). 

After that step is completed, a hard credit pull will be conducted, and a final decision will be made on loan approval.

Qualification Requirements

Marcus has several requirements for someone interested in a personal loan:

  • Be at least 18 years of age (19 in Alabama and 21 in Puerto Rico and Mississippi).
  • Be a U.S. citizen or permanent resident.
  • Have a verifiable income and bank account.

Required Information

Marcus requires personal information and the loan amount you’re requesting. 

Application Steps & Time Frames

  • Complete the information form: 2 minutes
  • Wait for a decision: typically within minutes
  • Funding is released within five business days

State Availability

- Available in all states

Marcus by Goldman Sachs Online Banking Review

In 2016, Goldman Sachs introduced Marcus by Goldman Sachs, a consumer banking division aimed at expanding beyond investment banking to assist Americans with their financial management. Based in Draper, Utah, Marcus provides no-fee high-yield savings accounts, various certificates of deposit, credit cards, and automated investing services. As an online bank, Marcus lacks ATMs and physical branches.

Marcus by Goldman Sachs Online Banking Highlight

No minimum

Min Deposit


Other Fees

Online Banking Savings

No minimum

Min Deposit


Min APY Savings

Pros & Cons

  • con-icon No fees, no minimum opening deposit or balance requirements
  • con-icon 24/7 account access
  • con-icon Live customer care is available 24/7
  • con-icon Financial security of a Goldman Sachs company
  • con-icon No ATM card or debit card is issued
  • con-icon No physical banking locations

Account types

  • Savings
  • Certificates of Deposit (CD)

Features Benefits & Rewards

  • Referral bonus if you refer a new customer to Marcus
  • No minimum deposit or balance required
  • Online account management

State Availability

- Available in all states

Marcus by Goldman Sachs Certificate of Deposit Review

Marcus CDs are a good option for investors who are looking for a safe and secure way to earn a higher interest rate on their savings. The high APYs offered by Marcus make them a competitive option compared to other banks. The highest APY offered by Marcus is 5.30% for a 12-month CD. The minimum deposit to open a CD is $500. Marcus offers CDs with terms ranging from 6 months to 60 months. Early withdrawal penalties apply if you withdraw your money before the CD matures.

Marcus by Goldman Sachs Certificate of Deposit Highlight


1-Year APY


3-Year APY


5-Year APY


Minimum Deposit


Minimum Balance


Monthly fee


Daily Compounded Interest


Early withdrawal penalty

Pros & Cons

  • con-icon High APYs
  • con-icon Low minimum deposit
  • con-icon No monthly fees
  • con-icon Early withdrawal penalties
  • con-icon FDIC-insured only up to $250,000.
  • con-icon Not a liquid investment

Account types

  • 6-Month APY 5.10%
  • 9-Month APY 5.00%
  • 1-Year APY 5.00%
  • 18-Month APY 4.60%
  • 2-Year APY 4.20%
  • 3-Year APY 4.15%
  • 4-Year APY 4.05%
  • 5-Year APY 4.00%
  • 6-Year APY 3.90%
  • 13-Month No-Penalty CD 4.60%

Marcus by Goldman Sachs Certificate of Deposit Terms & Requirements

  • CD Term: Ranges from 6 months to 60 months.
  • APY: Offer some of the highest APYs on the market. The highest APY offered by Marcus is 5.00% for a 12-month CD.
  • Minimum deposit: The minimum deposit to open a Marcus CD is \$500.
  • Early withdrawal penalties: Early withdrawal penalties apply if you withdraw your money before it matures. The penalty is based on the amount of time remaining on the CD and the current APY.
  • FDIC insurance: Your money is FDIC insured up to $250,000. This means that your money is safe even if Marcus were to fail.
  • No monthly fees: There are no monthly fees to keep a Marcus CD open.
  • Easy to open: You can open an account online in just a few minutes.
  • Customer support: Marcus offers 24/7 customer support. This means that you can get help with your account at any time of day or night.

Additional terms and requirements:

  • CD laddering: You can open multiple Marcus CDs with different terms to create a CD ladder. This can help you maximize your earnings and minimize your risk.
  • Automatic rollover: You can set up automatic rollover for your Marcus CDs. This means that your CD will automatically renew at the end of its term, and you will not have to do anything.
  • Portability: You can transfer your Marcus CD to another bank if you decide to close your account.

Qualification Requirements

To qualify for opening a CD account at Capital One Bank, you need the following:

  • Be a U.S. citizen or permanent resident.
  • Be at least 18 years old.
  • Have a valid Social Security number or Individual Taxpayer Identification Number (ITIN).
  • Have a checking or savings account with another bank.
  • Have a valid email address.

Here are some additional things to keep in mind when opening a CD account with Marcus:

  • The minimum deposit to open a CD account is $500.
  • Marcus CDs are FDIC-insured up to $250,000.
  • There are no monthly fees to keep a CD account open.

Withdrawal Penalty

An early withdrawal penalty applies under specific conditions, but earned interest can be withdrawn penalty-free at any time.

State Availability

- Available in all states

Written by Bob Phillips linkedin-icon twitter-icon

Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.



Does applying for a loan with Marcus affect my credit score?

Providing your basic information to view loan options does not impact your credit score with Marcus. To determine how much you could qualify for, they conduct a “soft pull” of your credit. If you select a loan option and continue your application, they require a “hard inquiry” to verify the information you’ve provided on the application for final loan approval. This “hard inquiry” will be seen as an inquiry on your credit report.

How long does it take for my loan to be approved and funded?

Marcus’ turnaround time for approval and funding is typically under 5 business days.

What fees are associated with a Marcus loan or savings account?

Marcus does not charge any fees for its personal loans or savings accounts.

Customer Support

Marcus has an excellent reputation for customer support. It is accredited by the Better Business Bureau (BBB) and has an A+ rating. In addition, their customer service hours are longer than the industry average.

Considering how large they are, Marcus’s phone support is very prompt. When we called, we were connected with a customer support representative in under two minutes. They were very professional and happy to answer any questions we had.

Privacy & Security

Marcus has a complete privacy and security statement on its website. It is based on transparency to the consumer, as evidenced by this statement, “The Goldman Sachs financial services companies endeavor to maintain the highest standards of confidentiality and to respect the privacy of our clients and associated persons, our employees, and other individuals whose personal information we collect and process. Our commitment to privacy includes being transparent about the nature and extent of that processing and the rights that may be available to you with respect thereto.”

In Conclusion

Marcus is a customer service-oriented company owned by Goldman Sachs. They offer several financial products (personal loans and savings accounts) and have the financial backing of 150-year-old Goldman. They offer very competitive rates on their loans and savings accounts and are easy to contact and receive assistance from.

Brand Disclaimer

Marcus’ Disclaimer: Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans. Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. For example, a $402 monthly payment is based on a $15,000 loan with a 12.99% APR and 48 monthly payments. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.​