The above loan statement image is for illustrative purposes only
#1 Payment period
Our payment periods are monthly. Your payment is due by 5 pm ET on the ending date for the payment period displayed on your statement. If your payment is late you may end up accumulating more interest and your final payment may be larger as a result. If you are enrolled in AutoPay, then you don't need to worry about this payment deadline because your payments will be made automatically by 5 pm ET.
#2 Payment details
This is the amount currently due on your Marcus loan. You are responsible for paying this amount by the date specified.
#3 AutoPay status and payment receipt deadline
If you are enrolled in AutoPay, you'll be informed that your automatic payment will go through on the date scheduled. The key benefit is there is nothing you need to actually do. Think of it as more of a notice that your bill will be paid in full and on time.
If you are not enrolled in AutoPay, this could be a good time to see if it’s is right for you. AutoPay benefits can let you feel confident that your payments will go through on time. Once you’re enrolled, you can consider each month’s statement as purely informational. Who doesn’t want one more thing to easily cross of your to-do list?
#4 Payment history and details
This reminds you how much you paid in your last monthly billing period, including how much of your monthly payment was applied to reduce your principal balance and how much was applied to interest.
In this section of your statement you'll also find more details, including your annual interest rate and the remaining principal balance.
We hope this helps summarize the information on your statement. If you still have any questions, feel free to contact us.
This article is for informational purposes only and is not a substitute for individualized professional advice. Articles on this site were commissioned and approved by Marcus by Goldman Sachs®, but may not reflect the institutional opinions of The Goldman Sachs Group, Inc., Goldman Sachs Bank USA or any of their affiliates, subsidiaries or divisions.