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Zopa Guarantees Returns 5.1%

But the yield is only 5.1%.  Essentially you are buying a 1 year CD in the credit union of Zopa.  Details can be found in the this Wall Street Journal article.

FDIC insured guaranteed rate of return.  Yield capped at 5.1%

Seems just like a credit union.  I will be glad to have competition in the p2p lending space. It makes everyone better, but 5.1% return is not why I can to play ball.  I will take more risk for a chance at higher returns.

Don’t get me wrong I will try Zopa.  I just don’t expect to place a significant amount of money there. 

Keep reading for my eventual post launch Zopa followup.


November 30, 2007 | Filed Under Uncategorized 

Useful Info:
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Zopa Security Leak?
Confirmed My 5.1% Zopa CD
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Fed Cuts Rate 75 Basis Points — I bought a Zopa US CD at 5.1%

← Zopa’s US Launch Imminent

NetBanker at Prosper Days 2008 →



comments

One Response to “Zopa Guarantees Returns 5.1%”

  1. Chrisfs on November 30th, 2007

    Yeah, they seem to be more a way of attracting people to credit union partners (both as lenders and borrowers) and although you get a nice feeling of helping people, you’re not really getting a monetary reward above what you would get from an online bank

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