Marcus, the online lending arm of US banking major Goldman Sachs, has started offering home improvement loans as part of its strategy to push into the world of consumer lending.
The loan comes up with no sign-up fees, no late fees and no prepayment fees. In case of delay, customers just have to pay interest for the additional days. Marcus also offers high-yield online savings accounts and certificates of deposits.
Go deeper with GlobalData
The application process does not require applicants to produce a home appraisal. Once approved, funds will be deposited in applicants’ account within five days.
Under the plan, customers can avail loans in the range of $3,500 to $40,000 for periods of three to six years.
Marcus by Goldman Sachs head of lending Abhinav Anand said: “We are excited to offer a new way for consumers to use our personal loans, as they look to invest in one of their most valuable assets, their own homes.
“By expanding the ways our customers can use our products to fit their needs, we look to continue to help them make smart financial management decisions.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataGoldman Sachs launched Marcus in 2016 for offering unsecured personal loans to consumers with credit-card debt.
