Thread: ppi calculator?

Is there a calculator for calculating monthly PPI payments on credit cards and also for adding the 8% statutory interest?

Thanks

Thanks but this one appears to be for single premium policies was wondering if theres one out there in simple form for credit card PPI (monthly). Im stuck as half way through my credit card term the interest rate changed etc. If my interest rate was 14.9 for instance can I just work out 14.9% of the premium paid?

ok this is the first calculator

Compound interest calculator

go through your statements starting with the oldest first. Put in the amount of PPI, the date, the interest rate and select the 12 monthly button. Press calculate. Then write this amount down. Do this for all of your PPI payments. For every month. It will calculate the Contractual Interest that you have been charged. Once you have worked out all of your amounts, add them up. This is the total amount of PPI + interest you have paid.

Then put that figure into the next calculator which will work out the 8% simple interest. The final figure is the amount you are claiming back.

Blake Lapthorn - simple interest calculator

I've just worked this one out myself, you will get a bit of shock with the final amount :grin: