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Home > Finance > Banking & Personal Finance > Loan Lenders > Zopa Loans
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11 Reviews

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*** GO TO YOUR BANK**** APPLIED FOR £2500 LOAN TO PAY OFF £1000 LEFT ON A £10000 LOAN WHICH I REPAY £200 A MONTH THEY REFUSED AT £117 A MONTH? GOD KNOWS WHY AND ALSO THEY LUMPED ON A £150... more

User Reviews

for Zopa Loans

Rating Summary based on 11 reviews

  • 5 Stars
    		6
  • 4 Stars
    		2
  • 3 Stars
    		0
  • 2 Stars
    		2
  • 1 Star
    		1

Detailed rating

  • Competitiveness of charges/rates
  • Efficiency of service
  • Online - Content/organization of site
  • Online - Ease of applying for products
  • Online - Investment tracking
  		• 4.1
  		• 3.6
  		• 4.2
  		• 4.1
  		• 3.3
  • 48 of 48 Ciao users found the following review helpful
    Picture of BNibbles

    Level 7 BNibbles

    Member since 08/10/2000

    Reviews written: 564

    5 Stars Meerkat, Smoke Me A Kipper, I'll Be Back For Zopa Review with images 17/04/2009
    User recommends the product

    Advantages Advantages Better interest rates for borrowers and lenders alike - just don't expect it to be an easy ride

    Disadvantages Disadvantages Lenders - Don't tie up money you might need quickly

    Revised: November 2010 When I first wrote this opinion inflation was zero (allegedly). Unfortunately this news didn’t seem to have percolated through to my house insurers, and neither had it, when the time came for my car insurance to plop onto my mat. Coupled with savings, even those in tax-free Cash ISAs earning what is known in the financial world as‘****-all’, the pressure on income was and still is clearly downwards whilst the prospect of zero inflation would appear to have been only in the heads of those that calculated it. Worse still, back in the present day, the RPI and the CPI ... more
  • 18 of 18 Ciao users found the following review helpful
    Picture of Rostow

    Level 3 Rostow

    Member since 05/12/2010

    Reviews written: 38

    4 Stars MONIES FOR ME 09/03/2011
    User recommends the product

    Advantages Advantages Easy to use, better rates than banks for lenders and borrowers

    Disadvantages Disadvantages Lending for 36 or 60 months no other choice

    I first started lending money on Zopa in May 2010 and was initially apprehensive because I had never heard of Zopa never mind the concept of ‘social lending’ or ‘peer to peer lending’. However, it has been actually pretty rewarding overall as my bank pays little interest on my regular savings whereas Zopa has offered a pretty good rate of return on what was quite a small investment. I have earned about 7.2% on my investment which actually makes me cheaper to borrow from than a bank – so the borrower wins and is much better for me because I make a much larger interest rate on my savings. The ... more
  • 18 of 18 Ciao users found the following review helpful
    Picture of evergreen46

    evergreen46

    5 Stars Zone Of Possible Agreement 13/04/2007
    User recommends the product

    Advantages Advantages Very easy to use

    Disadvantages Disadvantages None worth mentioning

    Zopa, What is it? How was it formed? What benefit is it to me and you? Let me tell you in plan and simple terms. Zopa is as the title may suggest, an area where possible agreements may occur. The community itself is made up of two types of people, LENDERS and BORROWERS. You may wonder about what the personal agreement is? Zopa is a web based community where you can lend your money out to borrowers or borrow money from the lender. A loan site in many simple terms, a loan site with a difference, NO MIDDLE MAN. Because Zopa lenders lend there own money out directly to the borrower, the borrower ... more
  • 33 of 33 Ciao users found the following review helpful
    Picture of andyev

    andyev

    5 Stars The wacky loan-zone 10/04/2007
    User recommends the product

    Advantages Advantages Easy to use, excellent rates, cut out the banks

    Disadvantages Disadvantages Some longer term rates can be less competitive for borrowers

    What's good about a Personal Loan? If all the junk mail and newspaper ads from the big banks are to be believed, a Personal Loan is a great product that everyone should have! In reality, the best thing is usually receiving the money, and buying your big-ticket item or paying off those debts... it's rarely the loan itself, but that is about to change, thanks to Zopa. Zopa (short for the "Zone of Possible Agreement") is an online exchange offering savers the chance to lend money to borrowers in a safe and straightforward way. Savers wanting to earn a higher rate of interest than they might get ... more
  • 13 of 13 Ciao users found the following review helpful
    Picture of hard_to_please

    Level 1 hard_to_please

    Member since 07/08/2009

    Reviews written: 9

    5 Stars Loan (ar) Ranger 10/08/2009
    User recommends the product

    Advantages Advantages Fun, easy to lend, makes you feel good, can earn better interest than a bank sometimes.

    Disadvantages Disadvantages Can lose your money, your money is tied up - I mean it's tied up for years (or forever)

    Zopa is a company based in the UK which offers an alternative way to make money for those who want to make money, or an alternative way to get a loan for those who want to get a loan. It's a bit like ebay, but for loans. How it works — borrowers You can apply for a loan either by creating a listing, which is effectively your chance to plead to some lenders for their hard earned cash by appealing to their kind heartedness. If you put a picture up showing you're a good looking girl, or write an amusing yet convincing argument about why you want the loan then you might get a decent rate. If your ... more

Questions

for Zopa Loans
  • Edmondlalang 20/3/2011 17:09:44

    Details of Zopa Loans

    As the promotions that each product of Zopa Loans make people can get loan without much more rates or competitive rates than a bank or other institutions. What happen if the creditors can not payback in time term like non performing loans or default, and what the pinalty ?

    Question status

     Open

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