£1000 loan for £2.96 in fees zopa.com - HotUKDeals
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£1000 loan for £2.96 in fees zopa.com

£2.96 @ Zopa
A loan of £1,000 over 1 year will cost you £87.52 per month at a representative 9.5% APR. The total cost after 1 year is £1,050, which includes £30.23 interest at 5.6% fixed and a £20 fee. The tota… Read More
jakerushworth Avatar
6m, 3w agoFound 6 months, 3 weeks ago
A loan of £1,000 over 1 year will cost you £87.52 per month at a representative 9.5% APR.

The total cost after 1 year is £1,050, which includes £30.23 interest at 5.6% fixed and a £20 fee. The total amount of credit is £1,020.

Loan over 1 year £1,000

Origination Fee

The origination fee is already included in your £87.52 monthly repayments.

+ £20.00

Total loan amount £1,020.00

Interest at 5.6% fixed + £30.21

Total cost £1,050.21

Topcashback New Valid Loan £47.25

Total outlay, £2.96

No early repayment fees and cash in your account within 3 days
More From Zopa:
jakerushworth Avatar
6m, 3w agoFound 6 months, 3 weeks ago
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All Comments

(16) Jump to unreadPost a comment
Comments/page:
#1
very unusual deal....can't see it getting hot but god loves a tryer ;)
1 Like #2
Beats other sharks.
#3
Seems like a good deal if you get the cashback.
2 Likes #4
Indeed very unusual. Given the risk involved (e.g. varying APRs, likelihood that cashback won't pay out) it would surely be safer, and cheaper, to take out a 0% purchases credit card? There are plenty that offer 0% for 12 months. In fact, some offer it for 24months+. Though, I guess its a fair 'deal' for those unable to get such credit or who need cash in the account.
#5
Top cash back is not guaranteed
2 Likes #6
hey lets promote people to get into more debt!
1 Like #7
zopa do require you to have decent credit history so I would say that if you fail their credit checks then getting a decent credit card with a good 0% offer would also be out of reach
#8
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.
3 Likes #9
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.


Suppose you disagree with deals posted on here for finance on cars then?

Need to chill out a bit. They're not forcing people to take out a loan but it might be handy for someone who is already looking at getting a loan.
#10
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.


except the poster isn't offering the loan.......analogy fail
#11
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.

Er, no.

If you already owe money (as I suspect a major segment of the membership base does) and a deal on here makes that debt cheaper, then it's as much a bargain as anything else. Financial products are just as liable to being good or poor value, competitive or not, as any other products.

Don't think anyone is suggesting getting a grand loan out and blowing it just because it's cheap credit.
#12
emiratesstadium
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.
Suppose you disagree with deals posted on here for finance on cars then?
Need to chill out a bit. They're not forcing people to take out a loan but it might be handy for someone who is already looking at getting a loan.

djames108
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.
except the poster isn't offering the loan.......analogy fail

Jules_HT
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.
Er, no.
If you already owe money (as I suspect a major segment of the membership base does) and a deal on here makes that debt cheaper, then it's as much a bargain as anything else. Financial products are just as liable to being good or poor value, competitive or not, as any other products.
Don't think anyone is suggesting getting a grand loan out and blowing it just because it's cheap credit.
I suspect you've never spotted the multiple comments on numerous threads that go along the lines of, " I hate this site, now I've gone and bought something else I didn't need". For many people the site is addictive and compulsive shopping is a debt leader to many.
While I've only "picked" this deal out it stands for many similar deals. £1000 is unlikely to consolidate other debt. The cash back isn't guaranteed so not going to necessarily make this as good a deal as it could be.
I've made my point, if anyone would like to pass their comment feel free. I'm not here to argue but add a balance. Have a good evening and spend, apply and banter as you are.
#13
thankyou for this. does anyone know what the rates and payment will be for 2 years paying back? x
#14
Oneday77
emiratesstadium
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.
Suppose you disagree with deals posted on here for finance on cars then?
Need to chill out a bit. They're not forcing people to take out a loan but it might be handy for someone who is already looking at getting a loan.
djames108
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.
except the poster isn't offering the loan.......analogy fail
Jules_HT
Oneday77
Spam from me. Promoting a finance option on here is like a loan shark sitting in a casino.
Er, no.
If you already owe money (as I suspect a major segment of the membership base does) and a deal on here makes that debt cheaper, then it's as much a bargain as anything else. Financial products are just as liable to being good or poor value, competitive or not, as any other products.
Don't think anyone is suggesting getting a grand loan out and blowing it just because it's cheap credit.
I suspect you've never spotted the multiple comments on numerous threads that go along the lines of, " I hate this site, now I've gone and bought something else I didn't need". For many people the site is addictive and compulsive shopping is a debt leader to many.
While I've only "picked" this deal out it stands for many similar deals. £1000 is unlikely to consolidate other debt. The cash back isn't guaranteed so not going to necessarily make this as good a deal as it could be.
I've made my point, if anyone would like to pass their comment feel free. I'm not here to argue but add a balance. Have a good evening and spend, apply and banter as you are.

Interesting point, but I can't help but think that social responsibility sits a bit beyond a deal site - by the same brush it would be responsible to only post offers for essential items (energy, bread, perhaps a second pair of underwear) if the general public can't be trusted to make their own choices!

Personally, I took out a Zopa loan a few months back and would have welcomed knowing about a deal like this.


Edited By: jamesakabob on Nov 01, 2016 00:08
1 Like #15
lovetolaugh
thankyou for this. does anyone know what the rates and payment will be for 2 years paying back? x
Zopa only do a soft credit check so just check on their website.

Alternatively do a comparison on moneysupermarket and it will be entirely anonymous and show you all loan providers and rates (with probability of acceptance).
#16
thank you for the help. I was just wondering if anyone has gone for one of these loans and has any feedback to make before I decide? x

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