Zopa Smart Saver

Growingold

Hi does anyone have a copy of the t & c of this account please?  Also if one saves the max amount allowed of £15,000 when the monthly interest is added and takes it over this amount what will happen?  Thank you

VKE

Growingold said:

Hi does anyone have a copy of the t & c of this account please?  Also if one saves the max amount allowed of £15,000 when the monthly interest is added and takes it over this amount what will happen?  Thank you

I'm not sure if you've seen that Zopa have now increased the £15k maximum limit to £85k along with the interest %'s on the Boosted Pots. Sorry but just don't know how to upload the T&C's

Rollinghome

Growingold said:

Hi does anyone have a copy of the t & c of this account please?  Also if one saves the max amount allowed of £15,000 when the monthly interest is added and takes it over this amount what will happen?  Thank you

If you go to Manage > Documents > Terms and Conditions, you'll see "General Savings Account Terms" and further down, "Smart Saver Savings Terms".  Is that what you wanted?

They do say there's also a copy of the terms on the website, but I haven't noticed them there.

From memory, I think they say in those terms that interest isn't included in maximum allowed (which is now £85k) but you might want to check.

ozaz

 Rollinghome said:

Growingold said:

Hi does anyone have a copy of the t & c of this account please?  Also if one saves the max amount allowed of £15,000 when the monthly interest is added and takes it over this amount what will happen?  Thank you

If you go to Manage > Documents > Terms and Conditions, you'll see "General Savings Account Terms" and further down, "Smart Saver Savings Terms".  Is that what you wanted?

They do say there's also a copy of the terms on the website, but I haven't noticed them there.

From memory, I think they say in those terms that interest isn't included in maximum allowed (which is now £85k) but you might want to check.

Do you mean you think interest is only paid on the first £15K even though the account can now hold £85K?
I don't see any mention of this in the app or in the terms.

fwdrew

Its paid on the amount you have in.

Really pleased with Zopa so far and like the boosted pots.

Rollinghome

ozaz said:

 Rollinghome said:

Growingold said:

Hi does anyone have a copy of the t & c of this account please?  Also if one saves the max amount allowed of £15,000 when the monthly interest is added and takes it over this amount what will happen?  Thank you

If you go to Manage > Documents > Terms and Conditions, you'll see "General Savings Account Terms" and further down, "Smart Saver Savings Terms".  Is that what you wanted?

They do say there's also a copy of the terms on the website, but I haven't noticed them there.

From memory, I think they say in those terms that interest isn't included in maximum allowed (which is now £85k) but you might want to check.

Do you mean you think interest is only paid on the first £15K even though the account can now hold £85K?
I don't see any mention of this in the app or in the terms.

Nope. I doubt Zopa would have many takers for that arrangement.

I was saying that their T&Cs state that the balance can go over their limit for the purpose of adding interest - as would be expected. It's not included in the limit. (SSS terms, para 1.4.)

Which is what the OP was querying.

Yellowman

How is Zopa pronounced?

Zopa as in hop?

Zopa as in low?

Rollinghome

Yellowman said:

How is Zopa pronounced?

Zopa as in hop?

Zopa as in low?

I'd guess it depends on whether you're from Belfast or Essex.

janusd

Yellowman said:

How is Zopa pronounced?

Zopa as in hop?

Zopa as in low?

Zopa as in groper - first rhyming word I can think of (worryingly).

BillTee

Growingold said:

Hi does anyone have a copy of the t & c of this account please?  Also if one saves the max amount allowed of £15,000 when the monthly interest is added and takes it over this amount what will happen?  Thank you

I've had a problem downloading a copy of the saver T&C.  Can access via manage account but apparently you are unable to download - enquired on chat.  You can take a screen shot of the Terms but that's a lot of screen shots for a large document so I won't be proceeding. Have closed account and uninstalled app : this app is not for me for the sake of 0.3%  

david72

Yellowman said:

How is Zopa pronounced?

Zopa as in hop?

Zopa as in low?

Zopa as in "zone": when they first started as a peer to peer lender they said that their name stood for "zone of potential agreement", meaning the range of interest rates at which a funder might be willing to lend and a borrower be willing to borrow from them.