Zopa Loans

APR: 39.9% Representative
Loan amount: £1,000 - £25,000
Repayment duration: 12 - 60 Months
Time to apply: 02m 00s
Zopa Loans customer reviews

4.9 out of 5 from 4887 customer reviews

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Representative Example: If you borrow £7,500.00 over 60 months at a Representative rate of 9.9% APR and an annual interest rate of 8.8% (fixed) and a fee of £180, you would pay 60 monthly instalments of £157.43. The total charge for credit will be £7,680 and the total amount payable will be £9,445.

About Zopa Loans

Zopa is a peer-to-peer lender offering loans from £1,000 to £25,000 which can be repaid over a term of one to five years. When borrowing with Zopa you will be charged an origination fee that will depend on your Zopa credit score, the amount of money you borrow and the period in which you plan to repay your loan.

Once you have applied for a loan with Zopa you can receive a decision within two working days and if you're approved the funds will be with you within three working days. Your repayment date will automatically be set to 30 days after your loan is approved, however, this can be changed to whichever date within the month is most convenient for you - beware this could potentially increase or decrease the amount of your next repayment.

Zopa allow for over payments as well as early settlements and don’t charge for either. You’re able to apply for a top-up, however, this must be applied for at least six months after your initial loan approval and the total of both loans cannot exceed £25,000.

In order to apply for a loan with Zopa you must be at least 18 years old and be living in the UK. You must have a current account in your own name with a UK bank and you will also need a good credit history.

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Zopa Loans customer reviews

4.9 out of 5 from 4887 customer reviews

So far, a great company with sound practices.

12:26 22-02-2017

via Choose Wisely

I'll start by saying I have an 'excellent' credit score with impeccable credit history in general. My circumstances are as follows; 2016 - Approved a loan at 3.3% APR from Tesco for £15,000 (repayment was about 16,300 in total which is good!) Only needed the money in 2017 (Feb) so managed to find a better rate of 3.0% with M&S - applied, they declined my application for no valid reason - this meant I had an additional wasted set of searches against my credit history. Re-applied for my original loan with Tesco and they would only offer me a rate of 7.9% based on my "credit history" which had not actually changed apart from the searches done. I know a lot of places indicate that a rapid amount of credit searches will look like you are desperate for money and therefore untrustworthy which is REDICULOUS as it completely destroys the foundation of a credit system. Also because I don't have credit cards or store cards there is little history against me apart from my mortgage where repayments have never been an issue. That aside, I performed a soft search against several other decent providers who also refused me for no reason at all - I suspect based on what had happened it was all related to the searches the other lenders had done. I finally found Zopa on the money saving supermarket website, read some good reviews so thought I'd give it a try. Worth a note that the initial check is a soft search of your credit history so according to the guy at Zopa it does NOT pay attention to your credit searches and only to your score. You also provide bank details so I'd assume there is some sort of check to see my standing (in this case with Santander) - Ample money in my bank account and a regularly paid mortgage, with money to spare (if you are wondering why I had loads of money saved but needed to borrow more....15k saved, needed an extra 15k as a lump to complete a house extension!) I applied with Zopa, my loan was pre-approved but I held off going for the full application as I thought what's the point, it's just going to refuse me when it does the final checks. The following day a guy from Zopa called me about my pending application and asked if I had any questions or concerns, I explained the entire situation above and he sympathised and agreed the way credit works is ridiculous. He then explained that they look at it a different way (as mentioned above) and if there is any uncertainty they may ask for additional documents such as pay slips, bank statements - which to me would have been completely reasonable - responsible lending right? So I returned to the website, applied for the loan - it performed it's standard verification checks and then popped up as accepted! - Said the money would be in my account within 1-3 days (note at the time of writing this, it's only the morning after I had been accepted so have yet to receive the money but I'm not really expecting any issues). Overall, they are a responsible lender who offered me the best rate on the market based on my real and true credit history. I'm incredibly pleased with the results to date and would definitely recommend them. As for the other negative reviews, like I now hold a grudge against M&S for refusing what I'd consider (me) to be a perfect applicant, don't pay too much attention to the other negative reviews who have ground the score down to an average of 2.5 because they were rejected for whatever reason - each lender uses a custom algorithm built on dozens of factors.

Lawrence about Zopa Loans


23:39 22-05-2017

via Smart Money People

Not bad if u wont repair ur credit

Bartosz Chelmowski about Zopa Loans

Absolutely disgraceful

09:35 10-02-2017

via Choose Wisely

I've applied for a 14500 loan over four years, my annual income 32k. "Aim to respond within 3 days" - actually was one week and a half. During that week I call them after 4 working days, they ask me to wait, then I call again after seven working days, they ask me for other statements except those already uploaded, after I have uploaded another 3 statements they reject me application. Your credit score will become a total mess after you apply with this guys, about seven (7) different searches. 3-4% advertised representative is about 14% + their processing fee = 21% APR After I saw the rate I wanted to cancel the application but when I check my credit rating (I have 1 day refresh, so I can see searches next day) I was scared about being rejected by other banks. Anyway I go ahead with my bank 7% APR. Stay far far away from this company. If you have other options don't even think about.

Cristian Harrison about Zopa Loans

High Apr

23:30 12-05-2017

via Smart Money People

They sorted out very quickly but they interest Apr it's very high

Florim Prebreza about Zopa Loans

Accepted but not approved

18:25 01-02-2017

via Choose Wisely

I had an application bearing in mind that the quotation search won't affect my credit score as they said. All good. They said I have been accepted for the representative APR, that was approximately 3%, so I took forward the application. In not even 2 days I got an answer from them not being approved for the credit. So there is a catch accepted first but not approved. So now I have 4 searches on my credit history for: Quotation Search, Administration Review, Checking Credit Application and Anti-Money Laundering.

Mircea about Zopa Loans

Great interest rate

22:39 12-05-2017

via Smart Money People

Do not charge a bomb in interest. I paid 500 interest on 3000 loan. Loan was paid instantly into my account.

Heena Nisa about Zopa Loans


11:08 30-01-2017

via Choose Wisely

I don't know why my application not approved. Only they know and I'm not really interested. Kept asking me to upload my salary three times and I even faxed it to them. I put a note that I don't need the loan right there and then but in 2 months time . Maybe that annoyed them, dont know don't care. I have several loans and excellent salary and always paid on time, no bad debt ever in my 49 years. I I hope they did not put a mark on my credit file for the application. My bank offered me 4.5% rate on a 15000 loan and I'm happy. Couldn't be happier.

Veronica about Zopa Loans

Too good but true!!

14:11 02-05-2017

via Smart Money People

From the initial enquiry to the payment of the loan was easy, crystal clear as to what charges you pay, the monthly costs and also handling questions. They say "if it's too good it can't be true" but Zopa prove that to be wrong and are outstanding in all aspects !!! Best experience I've ever had applying for a loan !!!

Rob Carr about Zopa Loans

3 mins to secure £11000.00

01:40 07-01-2017

via Choose Wisely

I have borrowed from Zopa before in the past so already have an account set up, the previous loan being paid off early. This time logged on checked details changed tel, ask for £11000.00 for home improvements checked the terms boxes watched the timer spin around for about 30 seconds and read the message saying your loan has been accepted entered bank details and repayment dates, end of process! £0.00 arrangement fee. 1% early repayment =£110.00 (that's ok). £11000.00 @3.1%APR over 5 years. Scary at how quick and easy it was, I do have the very best of credit ratings though.

mark about Zopa Loans

Quick and easy

14:19 01-05-2017

via Smart Money People

Really quick and easy to get a loan from Zopa. Great rates too.

Ji Pattison-Smith about Zopa Loans

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Our review of Zopa Loans

Our review by Alex
Written by: Alex
Consumer sentiment


Zopa are a peer-to-peer style lender with a competitive representative APR. As with other lenders of this style, the funds for the loans are not provided by a conventional bank or financial institution, instead, investors put forward their own cash and receive a return on their investment. Zopa do charge a fee but this fee isn’t upfront, it’s paid back alongside the monthly repayments. The fee differs for each customer and will depend on your Zopa credit score, the loan amount you’re looking to borrow and the loan term.

Investors can receive different rates of return which will be determined by the lending option that you choose as each come with various risks and frequencies with which you can dip into your profit. Once the funds have been put forward it can typically take a week for the funds to be lent out.

If you’re looking for reviews for Zopa online you don’t have to look far. Their website is filled with the various awards they’ve won, reviews from their own customers, mentions in the press and their TrustPilot scores. To be fair, they have something to shout about as at the time of writing they’ve achieved a whopping 9.8 out of 10 on TrustPilot. Customers have praised them for their simple application process, affordable rate and their efficiency. As with all lenders, there’s also going to be customers who haven’t had the best experience – some of Zopa’s have mentioned that they weren’t happy with the fee, experienced a disorganised application process and found the approval process lengthy.

Overall verdict: Zopa appear to have swarms of satisfied customers and have won awards for their service. If you have good credit history and like the idea of peer-to-peer lending then Zopa could be a lender worth researching just bear in mind the additional fee when making your comparison.


  • Top-ups are allowed up to a total of £25,000
  • Peer-to-peer style lending
  • Money Supermarket’s Best Personal Loans Provider 2016
  • No charges for early settlement or overpayments

Minimum criteria

  • You must have good credit history
  • You need to be aged over 20
  • You must be a UK resident
  • You will need to have 3 years’ address history in the UK
  • You must be employed, self-employed or retired with a pension
  • You must have an income of at least £12,000 per year
  • You must be able to afford the loan
  • You will need to confirm your identity


  • Maximum APR 9.9%
  • Arrangement fee: £180
  • Early repayment fee: £0
  • Late payment fee: £0