We're Offering No-Fee Personal Loans

A personal loan is money that an individual borrows from a lender such as a bank, online lender or credit union. The loan funds are received up front in a lump sum and paid back, along with interest, over a set period of time.

Funds from a personal loan could be used to consolidate credit card and other debt. They could also help finance the costs of a major home improvement renovation project, your dream wedding or cover the costs of a big move. 

No Fees -  Unlike other lenders that could charge origination fees, late fees (aside from the interest for the additional days) or prepayment penalty fees and processing fees, when you obtain a loan from us the only thing you pay is your principal amount and interest. No matter the loan amount. 

Fixed Rates and Payments – Personal loans from Marcus have a fixed APR (annual percentage rate) and a fixed loan term. You’ll know exactly how much debt you have to pay off, as well as the date you’ll be debt-free, provided you make all your payments on time and in full. Marcus also offers an AutoPay feature so you don't have to worry about missing any payments.

Convenience and Flexibility – The application process is easy. You can apply online and find your online loan options in as little as 4 minutes. You could be approved in less than 24 hours, and if approved, you could receive your loan funds in as little as 3 days.

On-Time Payment Reward – After making 12 consecutive monthly payments on your loan in full and on time, you can defer a monthly payment for one month. At Marcus, we want to help our customers pay off their debt, so we offer the ability to defer payments without accruing additional interest or fees.

We accept applications from consumers over 18 (19 in Alabama, 21 in Mississippi and Puerto Rico), with a valid U.S. bank account and Social Security or Individual Tax I.D. Number. 

Your credit score is a critical factor when qualifying for an unsecured personal loan. So, before submitting your application, take a minute to check your credit score and order a credit report so you can see areas where you’re on track, as well as where you can take steps to improve.

If your credit score is low, you can start improving it by paying down your debt, which can reduce the debt-to-income ratio, a major factor that can affect your credit score. Other measures include paying your bills on time, keeping old credit accounts open, and lowering your credit utilization ratio by reducing credit card spent.

Other factors that can affect your eligibility include your choice of loan amount and loan term, credit usage, and history, and it also varies based on loan purposes.

Borrowers with very good or excellent credit scores (700 - 850) typically get lower rates and larger loan amounts. Factors like your debt-to-income ratio, loan term credit history and usage can also affect the loan’s interest rate.

To get started, we’ll ask for some basic items of information such as your name, address and annual income. You also will need to provide your social security number or individual tax ID number and we may ask you to provide proof of identity, income and/or employment.

Credit cards could be a good financing option if you can pay off your balance in full each month, in which case you’ll likely pay no interest.

With personal loans, you typically receive a lump sum of money upfront, with a fixed interest rate, and then you pay back that sum in equal payments over an agreed-upon term.

Personal loans could be a great solution for debt consolidation, especially if you currently have multiple credit cards. If you’re approved for a loan with a lower interest rate than your credit cards you could use the loan to pay down your credit card debts and then repay what you borrowed on the loan, paying less in interest overall.

A Marcus loan could have a lower interest rate than some credit cards. A lower rate means you could save money and pay off higher–interest debt faster. You could potentially pay off your debt faster by consolidating your credit card debt into a single personal loan. Use our Personal Loan Calculator and see how you could consolidate higher-interest debt to save with Marcus. 

Yes. You can track your personal loans progress in the Marcus App to view your remaining principal balance on your loan. You can make a one-time payment, view recent payments and enroll in AutoPay.