It has been just over four months since we launched the Zopa Safeguard and already the fund has grown to over £1 million. We have seen this number grow from zero to seven figures and counting very quickly and we are pleased to be able to offer this added level of security for our savers.
We monitor the Safeguard fund daily to ensure that it has the correct amount to cover any expected losses. Because Zopa borrowers are smart and responsible with their money they have the lowest default rate of any personal loan borrowers in the UK. As a result, to date we have only had a couple of instances where the fund has had to step in and ensure that savers get all their capital plus interest back.
If you would like more information on the Safeguard and to see the exact figures today then click here.