Home improvement
Finance renovations with fixed interest rates and flexible repayment terms
What is Zopa?
Founded in 2005 as a peer-to-peer lending platform, Zopa transitioned into a fully licensed bank in 2020.
Headquartered in London, Zopa combines technological innovation with financial expertise to provide simple, fair, and honest financial products including personal loans.
A fully digital bank with no branches, Zopa has over 1.3 million customers and £5 billion in deposits.
What types of loans does Zopa offer?
Zopa provides unsecured personal loans with fixed monthly payments and no arrangement fees. Zopa loans can be used for many reasons, including:
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Purchasing a car
Spread the cost of a new or used car. Zopa also offer other forms of car finance such as hire purchase (HP) and personal contract purchase (PCP)
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Debt consolidation
Combine multiple debts into one manageable monthly payment with fixed interest rates to simplify budgeting
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Wedding
Cover wedding expenses with flexible loans and fixed repayments
How much can I borrow with Zopa?
Zopa offers personal loans ranging from £1,000 to £35,000, with repayment terms between one and seven years. The exact amount you can borrow depends on your credit score, income, and affordability assessments.
Key features of a Zopa loan
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Fixed interest rates
Predictable monthly payments throughout the loan term
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Overpayment and early repayment options
You can make extra payments to repay your loan early without any penalties
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Flexible repayment dates
Adjust your repayment dates to better align with your financial schedule, such as when you receive your salary
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Instant online decisions
Receive an immediate decision on your loan application when you apply online
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Mobile banking app
Manage your loan and track your balance using the Zopa mobile app
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FCA regulation
All lending is regulated by the Financial Conduct Authority (FCA), ensuring fair and transparent practices
What are the eligibility criteria?
To be eligible for a Zopa loan, you must:
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 an annual income of at least £12,000 before tax
Have a credit history visible to Zopa, demonstrating a good track record of repaying debt.
Be able to afford the loan in relation to your income and outgoings.
Note that joint applications or guarantor loans are not offered by Zopa.
Can I get a Zopa loan with bad credit?
As with all loan providers, Zopa will carry out a credit search on you before it agrees to lend. Zopa uses 'soft searches' that don't impact the credit score and don't show up on credit files to other lenders.
If you have bad credit you may find you’ll face higher rates of interest to get a loan or you may be turned down altogether. You can check your credit score and find ways to improve it with MoneySuperMarket.
How to apply for a loan with Zopa
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Check eligibility
Use Zopa’s online eligibility checker to see your personalised rates without affecting your credit score
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Choose loan amount and term
Decide how much you need to borrow and select a repayment period that suits your budget.
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Complete the application
Fill in your personal, employment, and financial details online
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Credit and affordability check
Zopa will assess your credit history and financial situation.
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Receive a decision
In most cases, you'll get an instant decision. Some applications may require further review
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Accept the offer
If approved, review the loan terms and confirm acceptance.
Trusted Service Awards Winners
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
Frequently asked questions
How quickly will the money be in my account?
Once approved, Zopa typically transfers loan funds to your account within two hours.
Are there any fees with a Zopa loan?
Zopa loans come with no arrangement fees, but there is an early repayment charge levied on loans taken out after September 2022, unless you’re already nearing the end of the term.
Is Zopa regulated and trustworthy?
Yes, Zopa is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority (FCA) and the Prudential Regulation Authority, ensuring adherence to strict financial standards.
With a strong track record and numerous awards, including Best Personal Loan Provider at the British Bank Awards in 2024, Zopa is a trusted provider of financial services.
How to compare loans with MoneySuperMarket
We’re here to help find the right loan for you, so we’ll tell you which rates you’re guaranteed to get.
Reviewed on 22 Dec 2025
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