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PPI Calculator

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PPI Calculator Information

PPI Calculator ImageYou could be owed £££’s for mis-sold PPI and be eligible to a PPI refund, why not try our PPI Calculators above to see how much you could be owed?

If you have had a loan, credit card or mortgage before 2010, then you may have been mis sold a payment protection insurance plan, and you could be entitled to a refund of up to thousands of pounds.

It can be difficult, time consuming and complex to work out what you may be owed or entitled to as part of any PPI reclaim compensation.

Using our mis sold PPI calculation figures, you can see an estimated valuation of the settlement you may be entitled to on completion of a successful PPI reclaim!

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While many PPI payouts are accurate and in line with what the claimant is entitled to, there have been far too many PPI refunds that weren’t.

In 2014 the BBC reported that as many as 2.5 million PPI claims cases were to be reopened because it appeared that claimants had not been given the correct amount of refunds.

It is probably fair to assume that for this to have happened on such a large scale, many of those 2.5 million people simply took their banks’ words and findings at face value and accepted refunds that were less than they were entitled to.

Had they used a PPI calculator such as our Free PPI Calculator beforehand, it is possible that many of the clients may have had a better idea of what their PPI may be worth and their PPI refunds may have been very different!

Fill in your details in the form to the right to discover how much PPI you could be eligible to reclaim!

Common PPI FAQs

PPI stands for Payment Protection Insurance and is an insurance product that many times got added to finances without the consent of the consumer. It generally is a good insurance policy as it covers payments of your finance if your circumstances change and you can’t make payments.

The reason PPI was mis sold is because of the incentives (usually commissions) that were given to salespeople who sold it along side finance products. Many times, it was a simple case of ticking a box indicating PPI to be added to the policy.

You can do this by finding your paperwork and looking through the terms of your finance product and see if PPI was added. If you don’t have your paperwork, you can ring your lender direct and ask them to provide the information for you. If you don’t want the hassle, we provide a FREE PPI Check to all our clients.

For any more PPI FAQs, we have a dedicated page that answers a lot of frequently asked questions that we have been asked by our clients before.

*We do not make any guarantees that our PPI Calculators are accurate. The PPI Calculators are for informational purposes only and no advice or guarantees are given to the accuracy of the information contained or displayed within the calculators. Have I Got PPI UK will not be held liable for any mistakes within. You use the PPI Calculator at your own risk and in line with the terms and condition of this website.*

Loan PPI Example:

Loan Amount: £7000 over 5 years (60 months) at 7.9% APR.

PPI on loan: £1400 (PPI policies vary in cost. It is often 20%, i.e. 20% of £7000 = £1400.)

Cost of PPI

On top of the mis sold PPI amount you are entitled to the interest paid.

£1400 x 7.9% x 5 years = £553 for 5 years (60 months)

Please note that on any successful mis sold PPI reclaims you are also entitled to 8% statutory interest compensation from the lenders per annum.

£553 x 8% = £44.24

Total PPI Refund Due:

£1400 PPI Amount
£553 Interest charged on PPI over 5 years
£44.24 PPI compensation (8%)

Total = £1997 Reclaimable PPI on Loan

Credit Card PPI Example:

Credit Card Amount: £3000 average monthly balance over 5 years (60 months)

Cost of PPI

£30 PPI charged on £3000 average outstanding monthly balance.

PPI charged is assumed at £1 for every £100 outstanding monthly balance.

Total PPI Refund Due:

£30 x 60 months = £1800 for 5 years

Total = £1800 PLUS statutory interest at 8%

Our calculator adds 8% of the total (£1800) for the number of years since the card was taken out.

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