Goldman Sachs Unveils Online Personal Loan Platform

Goldman Sachs revealed Marcus by Goldman Sachs, an online platform used for managing personal loans. Marcus is named after one of the founders of the bank, and it provides unsecured personal loans to its consumers. Marcus.com is available for customers eligible for credit, to borrow sums of up to $30,000 at a fixed rate for a period of two to six years. “For many who manage debt payments on high-interest rate credit cards, a straight-forward personal loan is a better solution…Marcus offers an option for consumers who are searching for a simpler alternative to credit card borrowing, where rates can change and multiple fees can be charged.” said Harit Talwar, head of Marcus. The system charges no fee to clients, and will provide the opportunity for customers to consolidate their credit-card debt.

The system has been made transparent, in that there are no hidden fees and customers are clear on exactly what they need to pay and when. The payment program will be determined by clients based on their own income and monthly budget. Besides the online portal, customers in the U.S. will have access to loan specialists. For the millions of interested customers, a code will be sent out over the next few months, before the selection process is done. The bank will then roll out its offering to more people globally.