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Zopa Bank loans

Thinking of taking out a Zopa Bank loan? Read our guide to find out what loans are available and whether you could be eligible for them.

Thinking of taking out a Zopa Bank loan? Read our guide to find out what loans are available and whether you could be eligible for them.

Who is Zopa Bank?

Launched in 2020, Zopa Bank offers a wide range of products to its half a million customers, including unsecured personal loans, point-of-sale, car finance, credit cards and savings accounts.

It also provides money management and financial health tools that help its users better understand and control their financial positions.

Applying for a Zopa personal loan is quick and simple. You’ll receive a personalised interest rate in just a few minutes.

Zopa bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Which is the best Zopa Bank loan for me?

The best Zopa Bank loan for you will depend on your individual circumstances.

Zopa Bank offers personal loans from £1,000 to £35,000 over one to seven years.

Zopa Bank loans are unsecured, which means you won’t need a valuable asset as security to borrow from them. They are also fixed rate, so your monthly repayments will remain the same throughout the term of your loan, unless you make extra repayments.

The actual rate that Zopa Bank offers you is a ‘personalised rate’ which will be based on a number of factors including:

  • The amount you want to borrow – typically, the smaller the loan, the higher the interest rate
  • The number of years you want to repay the loan over
  • Your credit score
  • Your financial situation.

A Zopa Bank personal loan is a quick and easy way of borrowing money for big-ticket items such as a wedding, new car or home improvements. You can also combine other Zopa loans into one convenient consolidation loan.

Zopa Bank doesn’t offer guarantor loans or joint applications.

Why choose Zopa Bank?

If you’re looking for a quick and easy way to borrow money, Zopa Bank can offer the following benefits:

Get a personalised rate in minutes
Zopa Bank runs a ‘soft credit check’ on initial application, so it won’t impact your credit score.

No paperwork
Apply online without the hassle of paperwork.

Get your money quickly
If your application’s approved, you could get your money within two hours.

Overpay whenever you want
You can make extra payments without penalty.

Easy to manage
Zopa Bank’s user-friendly app offers a stress-free way to stay on top of your borrowing.

Award-winning customer service
Zopa promises complete honesty, providing an excellent standard of customer service.


To be eligible for a Zopa Bank personal loan, you’ll need to:

  • Be at least 20 years old
  • Be a UK resident with at least one year of address history
  • Be employed, self-employed or retired with a pension
  • Have a gross annual income of at least £12,000
  • Have a credit history with a good track record of repaying your debts
  • Show you can afford to budget for loan repayment.

Are there any charges?

Zopa Bank doesn’t charge a set-up fee for taking out a personal loan or for missing loan repayments.

You can overpay on your loan at any time without charge. However, you may need to pay an Early Repayment Charge (ERC) if you want to settle the loan early.

Why compare loans with Compare the Market?

Our loan comparison service is quick and easy to use. Just give us a few details and we'll help you see if you can find you a quote. We can compare loans from Barclays and other top personal finance providers.

Compare loans quickly

See loans for your chosen amount you could be eligible for in under 4 minutes[1]

Find out what loans you could be eligible for

Without it impacting your credit score

See loans from a wide range of providers

We compare loans from 34 lenders[1]

[1] Correct as of March 2024.

Compare the Market Limited acts as a credit broker, not a lender. To apply you must be a UK resident and aged 18 or over. Credit is subject to status and eligibility.

How well is Zopa Bank reviewed on Trustpilot?

In September 2023, Zopa Bank was rated 4.4 on Trustpilot.

The score 4.4 corresponds to the star label ‘Excellent’.

See Zopa’s current Trustpilot rating

Frequently asked questions

How much can I borrow from Zopa Bank?

Zopa Bank offers personal loans from £1,000 to £35,000.
The amount you’ll be able to borrow will depend on your personal circumstances and credit rating.

Use our loans calculator to get an idea of how much you could afford to borrow and how much it could cost you each month.

Loans calculator

Can I get a Zopa Bank loan with bad credit?

Zopa Bank loans aren’t secured against an asset, so you’ll typically need a good credit rating to get one.

If you are approved for a loan with bad credit, you should expect your personalised interest rate to be higher.

How do I contact Zopa Bank?

The easiest way to contact Zopa Bank is via its online chat service.

You can also speak to a live agent by calling 020 7580 6060

Mon-Fri 9am-6pm

Sat 9am-5.30pm

How do I apply for a Zopa Bank loan?

Applying for a Zopa Bank personal loan is simple. It’s all online and you should receive your personalised rate in just three minutes. If your loan is approved, you should get your money within two hours.

But applying for a loan can impact your credit score. So before you apply for a Zopa Bank loan, it’s worth checking whether you’re likely to be accepted. You can do this using our loan eligibility checker.

It uses a soft credit check to show you which loans you’re likely to qualify for, and won’t affect your credit score.

Can I pay off a Zopa loan early?

You can pay off your loan early, but you may face an Early Repayment Charge (ERC).

This is usually one or two months’ interest.

If you’re nearing the end of your loan term, Zopa may waive the ERC.