PPI Calculator

PPI Calculator – Allows you to calculate the true cost of your PPI

At Claimspower we try to make this simple for our customers. We provided a very useful way of working out possible PPI reclaims amounts online, and is quick and easy to use. Please note that PPI calculators are not accurate due to certain factors. This is because each individual PPI claims case has a unique set of circumstances hence the award will be different. For example, the following circumstances can have a massive effect on the result:

a) Whether a policy is a single premium policy or a monthly premium policy and
b) Whether a PPI policy is for a loan or credit card or other credit agreement.

PPI Calculator for Single Premium Policies

Single Premium Policy (these are the biggest rip off ones) These policies are
Paid for in full to the insurance company at the start of the policy. Most loan companies will finance the full cost of the policy by adding the cost onto your loan. What they do not tell you is that you will also be paying interest on the PPI amount as well, for the full term of the loan. Interest on interest.
The total amount of the loan
The specific terms of the loan
The interest rate or APR for the loan

Example 1:
Loan Amount = £10,000
Term of Loan = 60 months
Interest Rate = 7.9%
Interest on Loan = £3,950
PPI Premium = £2,500
Interest on PPI Policy = £987.50
Total Repayable = £17,437.50

So, with 7.9% APR on top of the £2500 PPI costs we have a figure of £987.50; we also need to allow for compensation – as ordered by the courts – at 8% per annum on top of that. This brings the full amount of PPI paid on the loan – the amount that can be reclaimed – to £3,566.50.
In some circumstances it may be a little more complicated: if you have paid your loan off early, for example, your PPI payments will have been lower, and if you are still repaying the loan you will be able to claim only for the months you have paid PPI so far.
PPI Claims for Monthly Premium Policies
With a monthly premium policy you pay a fixed amount each month into your PPI policy. Typically this is approximately £7.50 on every £1000 borrowed.


Loan Amount = £5,000
Term of Loan = 36 months
Interest Rate = 7.9%
Approx Interest on Loan = £1281.09
PPI Premium = £1350
Approx. Interest on PPI Policy = £592.56
Approx. Total Repayable = £8223.65

If you take your monthly payment, multiply it by the duration of the loan and add 8% interest per annum you will have a fairly accurate representation of the amount you can claim.

PPI Calculator for Credit Cards

Credit card PPI are somewhat more difficult to process through a PPI calculator due to the varied balance at the end of each month. Typically, the PPI amount will be calculated at the point where interest is added, meaning that each month’s fees can be very different. A typical cost of PPI policy on a credit card is 1% – this means that a £5000 balance at the point of calculation will incur a £50 charge added to the balance – and onto this needs to be added a 20% (or more) APR for the year.

Let Claimspower Calculate Your PPI Claims

We have shown you that it is relatively simple to calculate a PPI repayment without using a PPI calculator, but it does involve some ability with maths. Not everyone is great with numbers, after all, so if you need any further help, information or no obligation PPI advice, fill in our PPI Contact form below and wait for one of our specialist PPI advisers to give you a call back, or if you prefer call us on

0333 012 0020 and we will be waiting for your call.

PPI Claim Contact Us

Please fill out this PPI Claim query and one of our freindly PPI specialists will contact you shortly. Please ensure you enter your contact details correctly.

  • Please specify your email address carefully

  • You MUST provide your current FULL address including Post Code
  • Please provide all information regarding your querying including all the lender(s) and the product(s) that you would like us to investigate for PPI.
  • This field is for validation purposes and should be left unchanged.