hsbc ppi refund breakdown

ajay5021

Hi All

I have just recieved an offer from HSBC on an old loan in 2004-2006
but I dont think they have calculated this properly

PPI Premium Redress £415.15

Plus taxable interest at 8% £233.77

total= £648.92

Is this right? I thought they give you interested on the premiums you have already paid e.g A+B+C = Total

Thanks

kaborex

I just received an offer from HSBC on a £5000 (paid Off) and £20,000 loan which is ending in May 2012 and the offer is as follows:

First loan:

PPI Premium redress £395.55
plus taxable interest at 8% £220.05

OFFER £615.60


second loan:

PPI Premium redress £8877.57
plus taxable interest at 8% £3430.84

OFFER £12308.41

SUB TOTAL £12924.01

Less outstanding loan balance £853.17

TOTAL OFFER £12070.84

I hope this is right. Can anyone comment? They claim if I am not happy I can forward the complaint to the financial umbudsman.

Good luck to all claiming.

amersall

ajay5021 wrote: »

Hi All

I have just recieved an offer from HSBC on an old loan in 2004-2006
but I dont think they have calculated this properly

PPI Premium Redress £415.15

Plus taxable interest at 8% £233.77

total= £648.92

Is this right? I thought they give you interested on the premiums you have already paid e.g A+B+C = Total

Thanks

The interest on the ppi is in the monthly payment,they have given you these back with the 8%,this is usal redress.

Well done on your win.:j

kaborex

You should have seen me last night. I was jumping up and down like a kid.
I will officially be debt free in 4 weeks and hopefully have a newer car (on finance probably with a sizeable deposit) and the rest is going in a savings account for a mortgage deposit in a couple years time.

Kaborex

amersall

kaborex wrote: »

You should have seen me last night. I was jumping up and down like a kid.
I will officially be debt free in 4 weeks and hopefully have a newer car (on finance probably with a sizeable deposit) and the rest is going in a savings account for a mortgage deposit in a couple years time.

Kaborex

:j:j nice feeling isnt it? :D