Zopa Announces Interest Rates on Savings Products

Hot on the heels of their banking license approval last month, leading UK fintech Zopa has announced interest rates for its fixed term savings accounts; the company said that terms will be from 1-5 years with one-year terms being offered at an interest rate of 1.1%, 2-year terms at 1.4%, 3-year terms at 1.5%, 4-year terms at 1.55%, and 5-year terms at 1.6%; interest rates are fixed and paid into customers’ accounts each month and the accounts can be managed completely online; all savings accounts are protected by the UK government’s FSCS scheme up to £85,000 (similar to FDIC insurance in the US); current investors can join the waiting list now for these new savings accounts. Crowdfund Insider.