Zopa Bank has won a deal with high street retailer John Lewis to to offer personal loans to its 23 million customers.
The partnership will see Zopa embed in the John Lewis Money website its personal loan product, giving customers a personalised loan quote within three minutes and cash in pocket within two hours.
Available loans will range from £1,000 to £35,000 with a term ranging from one through to seven years.
Andy Piggott, director of credit and banking at John Lewis Money, says: “Zopa Bank has been a trusted partner of ours for almost two years; we’re really excited by this next phase and the ability to offer their loans directly to our customers through our own John Lewis Money website.Whether it’s to help with home renovations, buy a car, or to help fund a once in a lifetime trip, we hope that this additional finance option can help our customers turn their ambitions into reality.”
Zopa Bank currently serves 1.3 million customers with personal loans, credit cards, point-of-sale retail finance, car finance, savings accounts, and financial health tools.
John Lewis joins a list of big businesses to integrate with Zopa's laon products, including Simba, Emma and Swyft, and the UK’s largest electricity supplier Octopus Energy.