Phased Payment Arrangements (PPAs)

Interest rates and charges

Interest is charged on all PPAs at the:

Interest within a PPA is made up of:

  • accrued interest on unpaid amounts included in the PPA
  • projected interest based on the expected payments over the lifetime of the PPA
  • interest on late payment charges due on any part paid periods within the PPA.

Changes to the repayment schedule during the lifetime of the PPA will result in a recalculation of the interest charges applied.

Next: Reduced rate PPA