Marcus Personal Loans: What Happened and Best Alternatives in 2026
If you came here to apply for a Marcus by Goldman Sachs personal loan, here is the short answer: you can’t. Marcus stopped accepting new personal loan applications in early 2023, and the product is not coming back. This page replaces our old Marcus review with an honest status update: what happened, what existing borrowers should do, what Marcus still offers in 2026, and three lenders worth considering instead.
What happened to Marcus personal loans?
Marcus launched in 2016 as Goldman Sachs’ online consumer bank. Its personal loans were genuinely borrower-friendly: loans up to $40,000, repayment terms up to six years, no origination fees, no late fees, no prepayment penalties, and a 0.25% rate discount for enrolling in autopay. Approval typically required a FICO score of at least 660, and advertised APRs ranged from about 6.99% to 24.99%.
Then Goldman Sachs pulled back from consumer banking. The consumer division had lost billions — more than $3 billion since late 2020, according to reporting at the time — and management decided to narrow its ambitions. In early 2023, Goldman announced it would stop originating new Marcus personal loans and wind down the roughly $4.5 billion portfolio, selling portions of it at a discount (including about $1 billion to Varde Partners). A later administrative change moved the servicing of remaining loans to a third party: effective December 11, 2023, Systems & Services Technologies, Inc. (SST) took over servicing of existing Marcus personal loan accounts.
The bottom line: the Marcus personal loan is a discontinued product. Any page on the internet that still invites you to “apply now” for one is out of date.
What if you already have a Marcus personal loan?
Nothing about your loan itself changed. Your interest rate, payment amount, and remaining term are exactly what you agreed to — discontinuing new applications did not cancel existing loans. Here is what to know:
- Keep paying as scheduled. Your repayment obligation continues under the original agreement.
- Servicing moved to SST. Goldman Sachs notified borrowers directly. You now manage the account and make payments through the SST loan servicing portal, not the Marcus site.
- SST is a servicer, not a lender. It handles administration of your existing loan — it does not offer new Marcus-style loans, so don’t look to SST as a replacement.
- Want another loan or a refinance? Marcus can’t help. See the alternatives below.
What does Marcus still offer in 2026?
Marcus didn’t disappear — it refocused on deposits. As of early October 2026, its lineup centers on two products:
- Online Savings Account: 3.50% APY as of October 3, 2026, with no minimum deposit and no monthly fee. The rate is variable and can change at any time.
- Certificates of deposit (CDs): a 12-month CD paying 4.40% APY with a $500 minimum deposit, plus a range of terms from 6 to 72 months and a no-penalty CD option. Rates shown were current in early October 2026.
Marcus deposit accounts are FDIC-insured, and its savings rate remains competitive with other online banks. Just remember that savings rates move with the market — always confirm the current APY on Marcus’s own site before opening an account.
The 3 best alternatives to Marcus personal loans in 2026
Since Marcus is out of the lending business, here are three established lenders that cover the same ground — no-fee options, bank-backed lending, and fair-credit access. Terms below reflect recent published figures; lenders adjust rates and fees, so verify the current numbers before you apply.
| Lender | Best for | Loan amounts | APR range | Terms | Key fees | Min. credit score |
|---|---|---|---|---|---|---|
| SoFi | Large loans with low fees | $5,000–$100,000 | ~6.99%–35.49% fixed | 24–84 months | 0%–7% origination (a no-fee option exists) | Good credit |
| Discover | Bank-backed, no-fee borrowing | $2,500–$40,000 | 6.99%–24.99% | 36, 48, 60, 72, or 84 months | $0 origination; $0 prepayment penalty | ~660 |
| Upgrade | Fair credit and debt consolidation | $1,000–$50,000 | 7.74%–35.99% fixed | 24–84 months | 1.85%–9.99% origination; late fee up to $10; $0 prepayment penalty | ~580–600 |
SoFi — best for large loans with low fees
SoFi (Social Finance) grew out of student loan refinancing into a full-service online bank. Its personal loans go up to $100,000 — well beyond what Marcus ever offered — with terms from two to seven years. You can choose a no-origination-fee loan or accept a fee in exchange for a lower rate. Best suited to good-credit borrowers financing a large expense or a big consolidation.
Discover — best bank option with no fees
Discover — now operating as part of Capital One, N.A. — is the closest spiritual successor to the old Marcus: no origination fee, no prepayment penalty, and straightforward terms. Loan amounts run $2,500 to $40,000 with five term choices, and many borrowers get funded as soon as the next business day. If you liked Marcus because it was a real bank with no junk fees, start here.
Upgrade — best for fair credit and joint applications
Upgrade is a fintech platform (loans issued through partner banks) built for fair-credit borrowers, with minimum scores around 580–600. Its standout feature is direct payment to your creditors, which makes it genuinely useful for credit card consolidation. The trade-off is an origination fee of 1.85% to 9.99%, deducted from your loan proceeds — factor that into the true cost before you sign.
Frequently asked questions
Can I still apply for a Marcus personal loan?
No. Marcus stopped accepting new personal loan applications in early 2023. The application pages you may find through old links or search results are outdated.
What happens to my existing Marcus personal loan?
It continues under its original terms. Servicing transferred to SST (Systems & Services Technologies, Inc.) effective December 11, 2023 — manage payments and account details through the SST portal. Your rate and payoff schedule did not change.
Is Marcus still a good place for savings in 2026?
Yes, for deposits. The Online Savings Account pays a competitive variable APY (3.50% as of October 3, 2026) with no minimum balance or monthly fee, and the 12-month CD pays 4.40% APY with a $500 minimum. Accounts are FDIC-insured. Rates change, so confirm before you open anything.
Which alternative is closest to the old Marcus loan?
Discover, for most people: a bank lender with no origination or prepayment fees and a similar credit profile. If you need more than $40,000, look at SoFi; if your credit is fair rather than good, look at Upgrade.
Disclaimer
This article is for informational purposes only and is not financial advice. Loan terms, APRs, fees, and savings rates change frequently — the figures above reflect information available in early October 2026. Always verify current terms directly with the lender before applying. We may earn advertising revenue from ads displayed on this page; this does not influence our editorial content.