Make money the safe and simple way
Hi All,
With interest rates rising, you can get about 6.5% return on your savings account if you stick it in a bank which is practically low risk.
However, there are ways to get a higher rate of return on your money with the equivalent sort of safety the banks offer.
Zopa matches people lending money to those that need it. You can play the role of lender or loaner and set the rates. If you choose to just leave it in the Zopa account, they’ll give you a return of 7%.
However, they now have a ‘listings’ section which allow anyone to request a loan for a particular need. You can check their listing, read their plea and earn much higher rates (there’s currently someone wanting a loan to buy a bike, he’s offering 12%).
Zopa also do their credit checks and you know exactly what risk profile the customer you are lending to.
It’s a great idea, cuts out the middle man and both lender and loaner benefit! Hoorah!
Click here to visit the Zopa website
