Peer to peer lending websites Zopa review

Zopa logo

Customer score: 65%

Explanation of risk to savers: Satisfactory

Ease of use: Satisfactory

Savings rates: Satisfactory

To see how Zopa differs from other peer-to-peer lending sites, check our comparison table.

Zopa reviewed in detail

Lending terms

Minimum lend: £10

Maximum lend: No maximum

Lending term: One year to three years, or four to five years

Rates of return

Average rate of return for lenders: 4.6% (after fees and bad debt, but before tax) on Zopa's one to three year accounts, to 5.17% (after fees and bad debt, but before tax) on Zopa's four to five year accounts

Average default rate: 0.8%


Annual fee: 1% of the total amount lent 

Withdraw funds early? Yes, but you will have to pay 1% of the total amount withdrawn

How much can you borrow?

Minimum amount you can borrow: £1,000

Maximum amount you can borrow: £15,000

Borrowing term: one year, two years, three years, four years, or five years

Can loans be paid off early? Yes, and without any penalty fees

Alternatives to peer-to-peer websites

If you're looking for a loan, it's worth checking out Which? Best Rate personal loans too.

And if you're looking for a safe home for your savings, consider putting your money into a Best Rate savings account or cash Isa. If you are content to take a little more of a risk for a potentially higher return, see our guide to investments.

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