Lenders at Zopa have their funds invested in a one year credit union CD insured by the National Credit Union Association. Lenders are required to set aside a portion of their interest to lower the interest rates charged to Zopa borrowers.
Zopa CD Details
Term: 1 year.
Annual Percentage Yield ("APY"): Set by you, up to today's maximum of 4.25%
Rate guarantee: Provided by each of our partnercredit unions
Dividends: Paid at maturity
Early withdrawal: Possible, but with penalty of 3month's dividends
Insurance: Up to $100,000 per Zopa member
Minimum: $500
Renewal: Set your preferences when you apply
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