Zopa reaches £1 billion in Customer Savings

Today Zopa have announced that their customers have trusted them with more than £1 billion of their hard-earned savings.

• Award-winning Zopa Fixed Term Savings Account offers a competitive rate up to 1.75% over 1-5 years at a time when rates are at a historic low.
• The account can be opened in as little as 7 minutes online and is fully protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.
• In the past 18 months it has already topped the savings tables 15 times, offering great value and an intuitive digital experience.

Today’s milestone is a testament to Zopa`s customer-centric approach to innovation that strives to deliver products that tackle real financial needs.

Building the best bank for saving and borrowing

 Zopa bank was launched 18 months ago with the bold ambition to create the UK’s best bank for saving and borrowing.

With unique fintech heritage and 16 years of lending experience, Zopa focus on better meeting the financial needs of UK customers in sectors where they have traditionally been poorly served, while also delivering an experience that matches their expectations of a digital-first company.

Where are they now?

• Since launching in 2020, Zopa has attracted £1 billion in deposits, more than £1 billion of loans on balance sheet, issued more than 200,000 credit cards becoming a top 5 credit card issuer in the UK, and tripled its revenue per customer.
• Zopa users rate its service as excellent with 4.7 out of 5 on TrustPilot
• Zopa has been voted the UK’s Best Personal Loan Provider 5 years in a row from the British Bank Awards.

Over the next 12 months, Zopa plan to double their savings portfolio again to £2 billion, launch an Easy Access product, and continue to innovate at the intersection of embedded finance and lending.