So as well as knowing you are getting a great interest rate on Zopa it’s also important to know the amount in pounds you can expect for being a regular saver.
That is why we have created the very handy peer to peer savings calculator to bring the benefits to life and clearly show the return you can expect in pounds rather than in just a per cent sign. We designed it to help you work out how much more money you could earn with Zopa compared to an old fashioned bank savings account where the average return is only 0.67% well below inflation at 2.7%.
The calculator helps you work out how much you could earn in capital and interest and is synched to our 4-5 year market daily rate. The results work on a compound interest effect which means that it is based on having auto top up on and relending your money during the time period you choose, overall making your money work as hard as you do.
The beauty of the calculator is that you can quickly compare two sets of numbers side by side and see that the longer you leave your money to grow with Zopa, the more you will get out. So getting a better idea about how long and how much you need to save, for example, your retirement is that much easier as nobody wants to have their hard earned savings being undermined by poor performing savings accounts.
We hope you have fun playing around with the calculator and it helps you figure out how much you need to save and for how long in order to reach your savings goals. It’s free to sign up and you can start saving with just £10.