PPI Loan Refund Examples - PPI Calculations on Loans

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PPI Loan Refund Calculations

We have included some PPI Refund Calculations for Loans below including:

£20,000 loan
£15,000 loan
£10,000 loan
£5,000 loan
£3,000 loan
£2,000 loan

Please remember that these calculations are based on the same variables (an interest rate of 7.9% on the loan over a period of 5 years). The only numbers that change in our calculations are the loan amounts.

With this in mind, when you are working out your own calculations for mis sold PPI on loans, please change the figures to reflect the loan amount, interest rate set by the lender and how many years has it been since you first took the loan out (this is to calculate the additional compensation of 8% statutory interest that the regulators set out for PPI mis selling).

Please use the loan calculators provided on this page or you can go to our PPI calculator page in order to see all our calculators (loan and credit card calculators).

£20,000 Loan PPI Example:

Loan Amount: £20,000 over 5 years (60 months) at 7.9% APR.

PPI on loan: £4,000 (PPI policies vary in cost. It is often 20%, i.e. 20% of £20,000 = £4,000.)

Cost of PPI

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

£4,000 x 7.9% x 5 years = £1,580 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.

£1,580 x 8% = £126.40

Total PPI Refund Due:

£4,000 PPI Amount
£1,580 Interest charged on PPI over 5 years
£126,40 (£25.28 per year) PPI compensation (8%) over 5 years (please note: this interest applies for every year up until you claim. For example, if your policy was for 5 years and you claim 10 years later, you will have an extra 5 years of 8% statutory interest added on top)

Total = £5,706.40 Reclaimable PPI on Loan

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£15,000 Loan PPI Example:

Loan Amount: £15,000 over 5 years (60 months) at 7.9% APR.

PPI on loan: £3,000 (PPI policies vary in cost. It is often 20%, i.e. 20% of £15,000 = £3,000.)

Cost of PPI

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

£3,000 x 7.9% x 5 years = £1,185 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.

£1,580 x 8% = £94.80

Total PPI Refund Due:

£3,000 PPI Amount
£1,185 Interest charged on PPI over 5 years
£94.80 (£18.96 per year) PPI compensation (8%) over 5 years (please note: this interest applies for every year up until you claim. For example, if your policy was for 5 years and you claim 10 years later, you will have an extra 5 years of 8% statutory interest added on top)

Total = £4,279.80 Reclaimable PPI on Loan

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£10,000 Loan PPI Example:

Loan Amount: £10,000 over 5 years (60 months) at 7.9% APR.

PPI on loan: £2,000 (PPI policies vary in cost. It is often 20%, i.e. 20% of £10,000 = £2,000.)

Cost of PPI

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

£2,000 x 7.9% x 5 years = £790 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.

£790 x 8% = £63.20

Total PPI Refund Due:

£2,000 PPI Amount
£790 Interest charged on PPI over 5 years
£63.20 (£12.64 per year) PPI compensation (8%) over 5 years (please note: this interest applies for every year up until you claim. For example, if your policy was for 5 years and you claim 10 years later, you will have an extra 5 years of 8% statutory interest added on top)

Total = £2,853.20 Reclaimable PPI on Loan

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£5,000 Loan PPI Example:

Loan Amount: £5,000 over 5 years (60 months) at 7.9% APR.

PPI on loan: £1,000 (PPI policies vary in cost. It is often 20%, i.e. 20% of £5,000 = £1,000.)

Cost of PPI

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

£1,000 x 7.9% x 5 years = £395 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.

£395 x 8% = £31.60

Total PPI Refund Due:

£1,000 PPI Amount
£395 Interest charged on PPI over 5 years
£31.60 (£6.32 per year) PPI compensation (8%) over 5 years (please note: this interest applies for every year up until you claim. For example, if your policy was for 5 years and you claim 10 years later, you will have an extra 5 years of 8% statutory interest added on top)

Total = £1,426.60 Reclaimable PPI on Loan

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£3,000 Loan PPI Example:

Loan Amount: £3,000 over 5 years (60 months) at 7.9% APR.

PPI on loan: £600 (PPI policies vary in cost. It is often 20%, i.e. 20% of £3,000 = £600.)

Cost of PPI

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

£600 x 7.9% x 5 years = £237 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.

£237 x 8% = £18.96

Total PPI Refund Due:

£600 PPI Amount
£237 Interest charged on PPI over 5 years
£18.96 (£3.79 per year) PPI compensation (8%) over 5 years (please note: this interest applies for every year up until you claim. For example, if your policy was for 5 years and you claim 10 years later, you will have an extra 5 years of 8% statutory interest added on top)

Total = £855.96 Reclaimable PPI on Loan

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£2,000 Loan PPI Example:

Loan Amount: £2,000 over 5 years (60 months) at 7.9% APR.

PPI on loan: £400 (PPI policies vary in cost. It is often 20%, i.e. 20% of £2,000 = £400.)

Cost of PPI

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

£400 x 7.9% x 5 years = £158 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.

£158 x 8% = £12.64

Total PPI Refund Due:

£400 PPI Amount
£158 Interest charged on PPI over 5 years
£12.64 (£2.52 per year) PPI compensation (8%) over 5 years (please note: this interest applies for every year up until you claim. For example, if your policy was for 5 years and you claim 10 years later, you will have an extra 5 years of 8% statutory interest added on top)

Total = £570.64 Reclaimable PPI on Loan

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PPI Loan Refund Calculations

£20,000 Loan PPI Example:

Cost of PPI

Total PPI Refund Due:

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£15,000 Loan PPI Example:

Cost of PPI

Total PPI Refund Due:

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£10,000 Loan PPI Example:

Cost of PPI

Total PPI Refund Due:

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£5,000 Loan PPI Example:

Cost of PPI

Total PPI Refund Due:

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£3,000 Loan PPI Example:

Cost of PPI

Total PPI Refund Due:

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£2,000 Loan PPI Example:

Cost of PPI

Total PPI Refund Due:

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