SAIM2110 - Interest: interest and PPI
Compensation for missold PPI is calculated in a number of ways. It can include an interest element. »Ê¹ÚÌåÓýapp links below are to examples based on the most common scenarios. »Ê¹ÚÌåÓýapp examples describe how the compensation is calculated and which elements of the compensation are taxable. »Ê¹ÚÌåÓýapp examples do not cover every situation. If a customer has received PPI compensation that does not fall into one of these examples it may nevertheless still be possible to identify the 8% interest element in the compensation calculation. If this is not possible then contact the BAI Financial Products Team.
Single Premium | Facts | Go to |
---|---|---|
- | Loan and PPI still running | SAIM2115 |
- | Loan repaid early and PPI cancelled | SAIM2120 |
- | Loan and PPI run full term | SAIM2125 |
- | Loan still in existence but PPI changed | SAIM2130 |
Monthly Premium | Facts | Go to |
---|---|---|
- | Credit card and PPI still running | SAIM2135 |
- | Credit card still being used but PPI cancelled | SAIM2140 |
- | Credit card closed and PPI cancelled | SAIM2145 |