Zopa Borrowing Exchange
Zopa is a totally new way for people to borrow and lend money to each other, all without the involvment of a bank taking their cut and profiting from your cash.
When you take out a loan through Zopa, you'll be borrowing off real people rather than banks, and as there's no middleman taking a cut there's no squeeze on the rates, or hidden charges to preserve bank profits.
Zopa is a UK company set up by the people responsible for Egg, the world's largest online bank, so you know you're in experienced hands whether you use Zopa as a borrower or as a lender.
Zopa : Main points
- Borrow from other people, not banks
- Choose how much to borrow, at what rate, over how long
- Repay in full at any time without penalty
- Get your money in your account within days
- Both borrowers and lenders fully protected just like any other loan
- Pay your interest to real people, not greedy financial institutions
- No bank in the middle of the deal, taking a cut or investing unethically
- Rates aren't squeezed by a middleman
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