Zopa Rate Increase!

Blackbriar_040

Noticed on Saturday my Zopa 7 day access pot had jumped to 3.50%!
but hadn’t had any official notification!

Just received the confirmation email of the increase boosted pot rates!

7 Day access rate now matching Marcus and the 95 day close to Chip!

Will Chip respond?

The new rate for your Access pots will be: 3.46% AER* variable (3.40% gross**). This was applied to your account on 19/05/23. The old rate was: 3.34% AER* variable (3.29% gross**).

The new rate for your 7 Day Boosted pots will be: 3.50% AER* variable (3.44% gross**). This was applied to your account on 19/05/23. The old rate was: 3.38% AER* variable (3.32% gross**).

The new rate for your 31 Day Boosted pots will be: 3.60% AER* variable (3.54% gross**). This was applied to your account on 19/05/23. The old rate was: 3.45% AER* variable (3.39% gross**).

The new rate for your 95 Day Boosted pots will be: 3.70% AER* variable (3.63% gross**). This was applied to your account on 19/05/23. The old rate was: 3.55% AER* variable (3.49% gross**).

Frequentlyhere

Just to be picky, the 7 day access rate does not match Marcus because they're different products, one 7 day and one easy access. That totally-easy-access is really important, for me at least.

I'm surprised Zopa didn't opt to leapfrog Marcus though for pure easy access.

Rollinghome

Moneyfacts are showing half a dozen or more easy-access accounts offering better than Zopa's latest 30 day offer.  Not for anyone after the best rates.

t1redmonkey

Blackbriar_040 said:

Will Chip respond?

Nothing for them to respond to when the 95 day notice rate from Zopa is less than the instant access rate from Chip.

fletcher1985

Im waiting until my 95 day comes to an end on the 4th june then my money is going. i like the zopa app but they are not even trying anymore.

Zaul22

Even the 95 day is still really bad when there are Investec and like 6 other 95 day accounts all at 4%+ 

fwdrew

Not a good increase. 

allegro120

fwdrew said:

Not a good increase. 

Perhaps they were successful with fixed bonds and not desperate for more cash??? In any case my Zopa balance will remain £0.  Chip pays 3.71 for EA and Mansfield (NLA) 4.5% for 90 days notice, I'll stay with these two for now. 

Malchester

Given up on Zopa even though their systems are very good.  Never going to be the best 

SaveTheEuro

Zopa are now offering a range of ISAs. They range from 2.5% easy access to 4.35% for a two year fix.

Exodi

Malchester said:

Given up on Zopa even though their systems are very good.  Never going to be the best 

Is this strictly due to the interest rate?

Of all the savings accounts I've bounced between, Zopa has been one of my favorites.

Clean app and good UX. Also transfers from Zopa usually seem to be in my bank in a couple of minutes, whereas someone like Tandem can take a couple of hours or even over a day.