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Query on PPI interest
scottyedin
Posts: 33 Forumite
Hi Folks
I am wondering if someone can clear the following question up for me;
When I have paid PPI insurance within my monthly repayments on loans now paid off, this has included interest on the PPI. The thing I am unsure about is does in the PPI interest I have paid also attract 8% statutory interest from the date I paid it or is it only the PPI premiun itself that has 8% calculated on it?
Any help appreciated!!
I am wondering if someone can clear the following question up for me;
When I have paid PPI insurance within my monthly repayments on loans now paid off, this has included interest on the PPI. The thing I am unsure about is does in the PPI interest I have paid also attract 8% statutory interest from the date I paid it or is it only the PPI premiun itself that has 8% calculated on it?
Any help appreciated!!
0
Comments
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You should get the 8% on everything you have paid. So if your monthly PPI premium was £40 and it attracted monthly interest of £10 then you would get the 8% on the full £50.Its amazing how these banks can't even do simple calculations correctly..............0
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