Hi Ims, It is back with the fsa. It is a Barclays loan select. They are trying to say that it is not a loan but a credit facility which is laughable. That is why the simple interest is so low. The fsa are going to get back to them and they have two weeks to respond. Thanks, Adrian

Hi Ims, What all the statements or the statements when the PPI was applied? Adrian

Hi Ims, It wasn't a single premium PPI. The premium was variable and added monthly. I paid it from April 1999 to November 2001. I then cancelled it. The total premium was £460. Sometimes the premium was £15, sometimes it would be £20. It was a percentage of the loan amount I had at that time. The loan was a rolling loan. I could take out more whenever I needed. I still have about £3000 to pay off. What figures do you need in order to show me? Thanks, Adrian

Hi Ims, Thanks for your response. From what I can see you apply compound interest to the premium. Add the premium and compound interest together and then apply simple interest to that amount? For instance the first premium is £15.72. The compound interest @ 11.425 from April 1999 to October 2012 is £57.37. Add these two together you get; £73.09. The simple interest on this @ 8% for the same period is £78.51. Adding all figures together, you get £151.6 repayment for this premium. Is this right? Thanks, Adrian

Hi, I am a bit confused. I have been made an offer on my ppi which comes to £2,044. I think that this is far too low. I've just worked it out and my calculation comes to £3659.02. I did this based on what I have read on another thread. consumeractiongroup.co.uk/forum/showthread.php?304901-How-to-calculate-the-interest-on-PPI-claim My loan is still open. I took it out in April 2009. The premiums come to £460. I have calculated the compound interest at 11.425% on each monthly premium from the time the premium was applied to the the time of the claim. I have then added this to the premium. I have then calculated the simple interest against this at 8% and added all three together i.e. original premium + compound interest + simple interest. This has come to the final amount of £3659.02. Is this right? Many thanks, Adrian