I recently made a PPI claim against Lloyds TSB on behalf of my sister. She has today received an offer of £4,145.24. This consists of an amount of:
1) £4108.38 PPI premiums paid(adjusted for interest).
2) £38.36 interest(8% simple interest when your account was in credit).
There is no breakdown on the PPI premiums or seemingly any offer of statutory interest on the premiums paid. The letter goes on to say that the FOS only requires them to interest on credit balances at 8%. We are unsure whether to accept this offer or query it. Any advice would be appreciated.