Wednesday 21st February 2007
Consumers with individual savings accounts (Isas) could benefit from new investment advice from online marketplace Zopa.
The company suggests that overspill investments could be a good way to gain a return on savings once any Isa entitlement is used up.
Rather than invest this in traditional funds, Zopa suggests that consumers could receive up to 14 per cent in annual interest by lending money via its service.
James Alexander, cofounder and chief executive officer of Zopa, said: "Isa savers and investors would be well advised to take a look at what Zopa lending can offer."
"Investors can benefit from the very attractive returns on offer without taking anything like the risk of investing in the stock market," he proposed.
According to Zopa, the average return obtained by its customers on money lent in the past two years has been 6.85 per cent.
Mr Alexander was previously strategy director at Egg, as well as working on development of the Co-operative Banks internet service smile.
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