Zopa personal loans calculator and review 2024

Zopa is an online personal finance company, offering loans between £1,000 and £35,000 starting from 22.9%.

4.1 ★★★★★ (217 reviews) Write a review

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Calculate the cost of a Zopa loan

Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Zopa Personal Loan
View details
Representative example: Borrow £1,500.00 over 3 years at a rate of 22.9% p.a. (fixed). Representative APR 22.9% and total payable £2,028.60 in monthly repayments of £56.35.

How do Zopa loans compare against the competition?

1 - 4 of 11
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Novuna Personal Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 7.4% p.a. (fixed). Representative APR 7.4% and total payable £11,142.00 in monthly repayments of £309.50.
My Community Bank Personal Loan
Check eligibility
View details
Representative example: Borrow £5,000 over 48 months at a rate of 24.9% pa (fixed). Representative APR 27.9% and total payable £7,939.24 in monthly repayments of £165.40.
Fluro (formerly Lending Works) Personal Loan
Check eligibility
View details
Representative example: Assumed borrowing of £7,500.00 over 48 months at 17.9% APR representative. Monthly cost of £214.79. Total amount repayable of £10,309.78. Interest rate of 16.6% p.a.(fixed) and total fees of £150.00. Available for loan amounts between £5,000 - £25,000.
Plend personal loan
View details
Representative example: Borrow £8,000 over 48 months at a rate of 16.66% p.a. (fixed). Representative APR 17.99% and total payable £11,013.12 in monthly repayments of £229.44.

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

Our verdict

If you are interested in taking out a loan and need fast approval, then you might want to check out what Zopa can offer. Loans are capped at £25,000 with fixed rates for up to five years. But you will need to check the interest rate offered to you as it might differ from what originally caught your eye. If you decide to pay early, you won't be penalised with early payment fees either. Just be sure to compare deals to find the best loan to suit you.

Best for: Competitive rates

  • Loans available from £1,000 up to £35,000
  • Fixed rate of interest means your monthly payments won’t change
  • No fees for making early repayments
  • Funds are not instant and can take five days to be processed after submitting an application
  • Joint applications are unavailable
  • Loans are unsecured
Representative example: Borrow £1,500.00 over 3 years at a rate of 22.9% p.a. (fixed). Representative APR 22.9% and total payable £2,028.60 in monthly repayments of £56.35.
Zopa Personal Loan
4.0 ★★★★★
Finder score

Maximum loan


Product fee


Early redemption fee


What is Zopa?

Zopa was founded in Buckinghamshire in 2004 by a team from the digital banking company Egg Banking, and at the time was one of the only peer-to-peer lending platforms. It gave a chance for UK investors to access a market of borrowers without the unnecessary need for a financial institution like a bank. In Decemeber 2021, Zopa exited the p2p lending market to focus on banking. Zopa announced in November 2016, that it would apply for a banking licence and by May 2017 it had become fully regulated by the Financial Conduct Authority.

Quick overview of Zopa personal loans

Loan amounts From £1,000 to £35,000
Loan terms From 1 year to 7 years
Age eligibility 20 years and over
Application fee No application fee
Repayment holiday Repayment holiday not permitted

Key features of Zopa personal loans

Zopa provides “unsecured” personal loans – meaning they’re based on creditworthiness, rather than the use of property or other assets as collateral. Its rates differ according to the applicant – so to get those competitive advertised APRs you’ll need excellent credit.

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £35,000.00
Loan terms1 Year to 7 Years
Loan rate typeFixed
Product fee0%
Same-day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit

All interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised Representative APR.

What is APR?

The Annual Percentage Rate (APR) is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.

All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.

Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.

Am I eligible for a Zopa personal loan?

When applying for a personal loan with Zopa, factors such as your credit history, income and the amount you apply for will be considered. You shouldn’t apply unless you’re certain you can meet the repayment terms, and you meet the following criteria:

  • Aged 20 or above.
  • Able to confirm your identity (Passport/ Drivers licence).
  • UK resident with 3 years of address history.
  • Employed, self-employed or retired with a pension.
  • Annual income of £12,000 or above (before tax).
  • Visible credit history with a good track record of repaying debt.

How do I apply?

If you’ve decided that a Zopa personal loan is right for you, then you can apply online in just a few minutes. You can use an eligibility checker beforehand with no impact on your credit score.

Zopa customer reviews

In our independent 2024 customer satisfaction survey, 91% of Zopa’s users said they’d recommend the brand to a friend. Customers highlighted the brand’s good customer service and easy to use online banking. Here’s what some of those Zopa customers had to say:

“The application was quick and easy. I knew the rate and the amount payable back from the start. The money was in my account straight away”

“Zopa have very good customer service and I never have any problems with my account. They are very helpful and reliable”

“Very easy application process. Quick transfer of funds. Easy to manage via the App”

Online reviews for Zopa

Zopa’s got good reviews across the board for both its service and its app (updated May 2024):

Trustpilot Google Play Apple App Store


4.5 out of 5
Based on 24,549 reviews (updated )


4.7 out of 5
Based on 17,011 reviews (updated )


4.9 out of 5
Based on ‎34,656 reviews (updated )

Customers love the company’s great levels of service and good interest rates, but some complain about having to wait longer than expected to find out whether they’ve been approved and to receive the money into their accounts.

Customer support

To contact Zopa’s customer support, you can start an online chat on the website, or you can call Zopa on 020 7580 6060. Lines are open Monday to Friday 9am – 6pm and Saturday 9am – 5:30pm.

Frequently asked questions

Personal loans scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

To find out more, read our full methodology.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

Written by

Chris Lilly

Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full profile

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