A Marcus personal loan is essentially, an online unsecured loan. Online loans are loans that you can apply for online instead of going into a bank — or anywhere, for that matter. In addition to the convenience factor, online loans offer some potential savings. Rates may be more favorable than those from traditional banks or credit unions, because online lenders don’t have to pay for the cost of supporting physical branches.
An unsecured loan is a loan that does not require you to put up items you own, such as your car or home, as collateral to qualify for the loan. Approval for an unsecured loan typically requires an evaluation of your creditworthiness, income and ability to pay.
Unexpected expenses are a common occurrence for many and they can come at a big price tag. Even expected expenses, when budgeted and planned for can require some help when cash on hand can’t cover everything. For those who qualify, Marcus offers various types of loans that may suit your needs, with no fees and a fixed rate.