Personal Loan Details
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| Zopa Personal Loan | |
|---|---|
| Typical APR | 15.70% |
| Amount | £5000 |
| Loan term | 5 Years |
| Monthly repayment | £120.29 |
| Total repayable | £7,218 |
| Maximum term available | 2 years |
| Early repayment penalties | None |
| Additional features | Internet applications only, maximum term two years |
| Notes | |
| Loan A. Minimum age 18. Maximum loan available is £15,499, refer to Zopa for loan amounts not shown. Funds available by BACS. Credit rating will determine loan rate available. Unpaid direct debit fee of £20 if failed a second time. Zopa lets people who have spare money lend it directly to people, who want to borrow it. No bank in the middle, no huge overheads, no unethical investments. All lenders and borrowers enter into a legally binding contract with their respective borrowers and lenders. Zopa manages the collection of monthly repayments and if any of that money is not paid on time, uses exactly the same sort of recovery processes that the high street banks use. Zopa earns money by normally charging borrowers an exchange fee of 1% (opening offer - zero exchange fee). | |
