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Marcus vs SoFi: Which Personal Loan Is Right for You?
Both Marcus by Goldman Sachs and SoFi are strong personal loan lenders with no origination fees and competitive rates. But they serve slightly different borrowers. This side-by-side comparison shows you which one fits your situation best.
Quick Comparison
| Feature | Marcus | SoFi |
|---|---|---|
| Loan amounts | $3,500 to $40,000 | $5,000 to $100,000 |
| APR range | 6.99% to 24.99% | 8.99% to 29.99% |
| Loan terms | 36 to 72 months | 24 to 84 months |
| Origination fee | None | None |
| Late fee | None | None |
| Min. credit score | 660 | 680 |
| Funding speed | 1 to 4 business days | Same or next day |
| Cosigner allowed | No | Yes |
| Unemployment protection | Payment deferral option | Forbearance program |
Marcus Personal Loan: Overview
Marcus is the consumer lending arm of Goldman Sachs. It launched in 2016 and built a reputation for being simple, transparent, and fee-free.
What makes Marcus stand out:
- Zero fees: no origination fee, no late fee, no prepayment penalty
- On-time payment reward: pay 12 consecutive months on time and you can defer one payment
- Fixed rates: your rate never changes after you lock in
- No hard credit pull for prequalification
Where Marcus falls short:
- Maximum loan amount is $40,000, lower than SoFi
- No cosigner option
- Funding can take up to 4 business days
Read our full Marcus Personal Loan Review 2026 for a complete breakdown.
SoFi Personal Loan: Overview
SoFi started as a student loan refinancing company and has grown into a full financial platform. Its personal loan product stands out for its high loan limits and member benefits.
What makes SoFi stand out:
- High loan limits: up to $100,000
- Long terms: up to 84 months
- Member benefits: career coaching, financial planning, and unemployment protection
- Cosigners allowed
- Same-day or next-day funding in many cases
Where SoFi falls short:
- Minimum loan amount of $5,000 is higher than Marcus
- Higher minimum APR than some competitors
- Better suited for borrowers with excellent credit
Read our full SoFi Personal Loan Review 2026 for a complete breakdown.
Rates and APR Comparison
Both lenders offer competitive rates for good credit borrowers. Here is what to expect based on credit score.
| Credit Score Range | Estimated Marcus APR | Estimated SoFi APR |
|---|---|---|
| 760 and above | 6.99% to 9.99% | 8.99% to 12.99% |
| 720 to 759 | 10.99% to 14.99% | 12.99% to 17.99% |
| 680 to 719 | 15.99% to 19.99% | 17.99% to 22.99% |
| 660 to 679 | 20.99% to 24.99% | Not typically approved |
These are estimates. Your actual rate depends on your income, debt load, and full credit profile.
Fees: Both Win Here
Neither Marcus nor SoFi charge origination fees, late payment fees, or prepayment penalties. This puts both well above most personal loan lenders in terms of transparency.
Avoiding an origination fee on a $20,000 loan saves you $200 to $2,000 compared to lenders who charge 1% to 10% upfront.
Loan Amounts
Need a large loan? SoFi wins. It offers up to $100,000, making it one of the few personal lenders that can handle major expenses like home renovations or large debt consolidation.
Need a smaller loan? Marcus starts at $3,500 while SoFi starts at $5,000. For amounts between $3,500 and $5,000, Marcus is your only option here.
Repayment Terms
SoFi offers terms up to 84 months. That is 7 years. A longer term means lower monthly payments, but you pay more interest over time.
Marcus caps at 72 months. Still plenty of flexibility, but slightly more limited.
For most borrowers, a 36 to 60 month term strikes the right balance between manageable payments and reasonable total interest paid.
Cosigners
SoFi allows cosigners. This is a significant advantage if your credit score is on the lower end of the qualifying range or your income alone does not meet requirements.
Marcus does not allow cosigners. You need to qualify on your own merits.
Hardship Programs
Both lenders offer some protection if you lose your job or face financial hardship.
Marcus lets you defer one payment after 12 consecutive on-time payments. You can also request payment relief during a financial hardship.
SoFi offers an unemployment protection program. If you lose your job, SoFi may pause your payments in 3-month increments while you look for work. This is a major benefit that most lenders do not offer.
Who Should Choose Marcus?
- You want a zero-fee loan with no surprises
- You need between $3,500 and $40,000
- You have a score in the 660 to 700 range
- You want the on-time payment reward feature
- You do not need a cosigner
Who Should Choose SoFi?
- You need more than $40,000
- You want member benefits like career coaching or financial planning
- You have excellent credit and want the best possible rate
- You need fast same-day funding
- You want the option to add a cosigner
- You want unemployment protection built in
Bottom Line
For most borrowers with good credit who need $10,000 to $30,000, Marcus is a simpler, slightly more accessible choice. For borrowers with excellent credit who need a large loan or want premium member perks, SoFi is the stronger option.
Both are excellent. Prequalify with both to see your actual rate before committing. The rate you get will often make the decision for you.
For more options, see our full guide to the best personal loans of 2026.
Frequently Asked Questions
Is Marcus or SoFi better for personal loans?
SoFi is better for borrowers with excellent credit who want large loans up to $100,000 and member perks. Marcus is better for those who want no fees, predictable terms, and a simple borrowing experience.
What credit score do you need for a Marcus loan?
Marcus recommends a minimum score of 660 but borrowers with scores of 700 or higher tend to get the best rates.
What credit score do you need for a SoFi personal loan?
SoFi recommends a minimum credit score of 680. Most approved borrowers have scores above 700.
Does Marcus charge any fees?
No. Marcus has no origination fees, no late fees, and no prepayment penalties. This makes it one of the most transparent lenders available.
Can I get a personal loan from both Marcus and SoFi?
You can technically apply to both, but having two large personal loans at once may affect your debt-to-income ratio and hurt future approval odds.
Rates as of May 2026.