Best installment plan for 2021



Markus by Goldman Sachs

When it comes to balancing rates, loan limits, terms and conditions, Marcus by Goldman Sachs stands above all the competition for individual loans.


  • Wide range of maturities

  • Lower interest rates than most lenders

  • No fees

  • Possibility of deferred payment


  • Funding may take five days

  • Maximum six-year loan term

  • Phone support only available

With soft requirements and favorable terms, including no disbursement of loans, prepayment or late fees, Marcus by Goldman Sachs has earned our reputation as the best overall for installment loans. Goldman Sachs is one of the most recognizable names in the Wall Street investment banking sector. The company began offering consumer banking under the Marcus by Goldman Sachs name in 2016 and currently offers several financial products, including personal loans.

To qualify for a loan, applicants must obtain a minimum credit rating of just 660 for a loan between $ 3,500 and $ 30,000. Markus loans have a fixed interest rate of 6.99% to 19.99% per annum, which can be reduced by 0.25% if you sign up for automatic payment. There are no registration fees and no prepayment fees. While there are nine different term options available (36, 39, 42, 45, 48, 54, 60, 66, or 72 months), candidates with a credit rating in the higher range will be eligible for the longest term options and the lowest rates.

Markus accepts applications from consumers in all 50 states, as well as Washington DC and Puerto Rico. However, there are age restrictions. You must be 18 years of age or older (19 in Alabama, 21 in Mississippi and Puerto Rico), have a valid US bank account, and have a Social Security or Individual Taxpayer number.

Marcus by Goldman Sachs app users can track their debts and finances. The app is rated 4.9 in the App Store and 4.5 in Google Play. Goldman Sachs’ Marcus earned five out of five stars for the Motley Fool and 4.1 out of five stars for Bankrate.

An added benefit of working with Marcus is that after making 12 consecutive recurring payments on a loan, users can defer one payment, which means that the loan is extended by one month.

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