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.

Related Posts

• My Prosper Internal Rate of Return Update (End of Jan 07) -- 1.67% I am tracking my Prosper internal rate of return (IRR).  As a reminder my prosper IRR is defined as actual cash flows up to the current month.  The current month is positive account balance minus monies added minus loan values in default. I currently have 0 loans in default and......
• Major Prosper Update -- Just in Time for Prosper Days  Prosper's First Anniversary First of all, let's take a moment to celebrate. On Feb 5, Prosper turned one year old. In our first year, exactly 7048 loans with a value of $35,166,711 were made on the Prosper marketplace. If you're coming from the perspective of a massive bank, $35M might......
• Blogger Wants a Prosper Listing Review A blogger (The Property Pundit) emailed me and asked for a listing review and so I ask my readers. Please review this listing. Would you bid? Why or Why Not? How can the listing be improved? A credit grade and clean extended credit. $25 Bonus For New Lenders How to......
• Zopa Shuts Down US Branch Zopa, the UK based peer to peer lending company, is shutting down their US branch due as a result of toughening conditions that are currently being experienced by the US economy. Zopa provides loan services in the UK, as well as in Italy and Japan through a pure P2P style......
• New Loan Funded — debt relief for kids — $6,000 at 18% — B Credit — DTI 64% A new loan funded (debt relief for kids – $19,500 at 14.34%).  I participated via my standing order RL Overlooked.  The borrower had B credit, a 64% DTI, and is a homeowner.  This was a non autofunding loan.  As a reminder my standing orders (and manual bids) only find loans with 0 current......

Related Websites

• What Would Happen If I Don't Pay My Taxes? Nobody likes paying taxes, but it's a fact of life - we all have to do it. Taxes pay for everything you could possibly think of (and some things you don't want to think of)...but what would happen if you didn't pay your taxes? There are many stories out there......
• Credit Union Supervisory Committee I'm chair of the Supervisory Committee at the NSWC Federal Credit Union. The Supervisory Committee performs oversight to the credit union's board of directors -- it performs cash count audits, performs or hires out for the credit union's audits, and has broad power to throw out board members if they......
• Tired of the doom & gloom I don't know about you, but I'm pretty tired of all the doom and gloom in the headlines. Yes, financials are in trouble. Yes, people got mortgages they shouldn't have & companies lent money they shouldn't have. Yes, eggs cost more. Yes, oil is up and that's bad. No wait,......
• Banks and Credit Unions Are Not Doing You a Favor By Giving Back Your Money Photo credit: NessieNoodle I got my statement the other night on my car loan. I got the car loan through a local credit union. To get this loan, I had to open a savings account with a small amount of money. A couple of months ago I notice I......
• Yes, We Paid Off The Tahoe Fans of the Dave Ramsey Show probably recognized that line in the title. Dave's got a few variations - pay off the Tahoe, amputate the Tahoe, etc. Over the last few weeks I've been hinting at how close we were to paying off my wife's Tahoe (our family vehicle). My......

Online Stores

• Reading Lamps Home Lighting
• Credit, Charge Cards Trading Cards Collectibles
• Union 76 Gas Oil Companies Gas Oil Advertising Collectibles
• Headboard Reading Lamps Home Lighting
• SPF 25 and Higher Sunscreen Sun Care Skin Care Store

If you liked this article, vote for it on del.icio.us and stumbleupon.


Categories:

Uncategorized

Tags:

azerbaijan, mozambique