Why choose Zopa Loans?
- Zopa choose to reward savers and borrowers who are good with their money
- You can repay early or in lump sums at no extra cost
- The interest rate offered can be based on your 'credit worthiness'
Zopa loans: Facts
- Zopa launched in 2005 and have 65 staff in their London office
- You can borrow £1,000 to £25,000 and repay it over 1 to 5 years
- Zopa won the Moneywise Customer Service Award for being the Most Trusted Loan Provider five years in a row
Zopa work on a peer to peer lending scheme and aim to reward people who are good with their money and pay their loan back quickly. They accept early repayments and calculate the interest on your loan on a daily basis.
This means that you could save yourself money if you choose to repay your personal loan early. You can also take out more than one loan at a time, however, you would not be able borrow more than £25,000 in total.
You can use Confused.com to compare unsecured personal loans from Zopa Loans as well as a range of other UK loan providers.