Goldman Sachs launches online service alternative to credit card

14 October 2016

This week Goldman Sachs Group unveiled its new financial product called Marcus by Goldman Sachs, which represents a dedicated web-based service to provided unsecured personal loans. The service has its name after Marcus Goldman, a founder of the company. The Group reported that customers will be able to have access to personal loans with better terms as compared to conventional financial instruments provided by banks.

Marcus will provide to consumers found to be solvent personal loans without any fee for an amount up to 30 thousand US dollars for a term from 2 to 6 years. Head of the new service notes that immediate personal loan provided to consumers which experience difficulties with paying their debt on credit card interests would bring more benefits.

The main concept of the service has been developed based on the feedback of consumers as the personnel of the new company conducted a poll to learn more about customer preferences. The key features differing Marcus from conventional credit card loans include absence of hidden fees, fixed dates of payment, changes in the interest rates and automated voice support for consumers. Marcus offers enhanced consumer experience and live support to the users.

To file an application potential customers will have to send a code received on their email address from the company. General public will have access to the service in the coming months.

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