Zopa Bank is partnering with John Lewis Money to offer personal loans directly to its 23 million customers

Zopa Bank has partnered with John Lewis Money, the financial services arm of John Lewis Partnership, to offer personal loans to its 23 million customers.

As part of the partnership, Zopa will embed its award-winning digital personal loan product into John Lewis Money’s website, offering the retailer’s customers more financing options that are great value, simple and transparent.

Customers can receive a customized loan offer in 3 minutes without affecting their credit score. Most customers receive their money in less than 2 hours after their loan is approved. Loans available range from £1,000 to £35,000 with terms ranging from one to seven years.

Zopa Bank Chief Commercial Officer Tim Waterman said: “Consumers have long trusted John Lewis and we’re excited to work with them to help more people access cheaper credit. Zopa Bank has always focused on providing its customers with great value and a great experience. We have led the move towards personalized interest rates and instant loan approvals and currently serve over 1 million customers in the UK. Today’s partnership brings this award-winning experience into the John Lewis ecosystem and will benefit millions more consumers.”

​​Andy Piggott, director of credit and banking at John Lewis Money, added: “Zopa Bank has been a trustworthy partner for us for almost two years. We’re really excited about this next phase and the opportunity to offer our customers their loans directly through our own John Lewis Money website. Whether it’s help with home renovations, buying a car or financing a one-off loan We hope this additional financing option can help our customers turn their ambitions into reality.”

Today, Zopa Bank serves 1.3 million customers with personal loans, credit cards, point-of-sale retail financing, auto financing, savings accounts and financial instruments.

Since becoming a bank in 2020, the company has grown rapidly through high-quality partnerships, organic and inorganic new business expansion and product innovation. The introduction of a current account is planned for this year. Zopa Bank’s products are popular with customers and can be seamlessly integrated to meet the needs of its business partners, which include leading e-commerce retailers such as Simba, Emma and Swyft, as well as the UK’s largest electricity supplier Octopus Energy.

Zopa Bank, one of the UK’s most highly rated and celebrated financial brands, has once again been voted the UK’s Best Personal Loan Provider and Best Credit Card Provider at the British Bank Awards 2024.