Need A Financial Product › Forums › Bullion › Should I repay ICICI home loan by selling gold coins

  • This topic has 3 replies, 4 voices, and was last updated 6 years ago by Rakhi.
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  • September 8, 2014 at 7:05 pm #47288
    samkapoor77
    Keymaster

    I have an outstanding home loan of Rs. 22 lakhs from ICICI Bank. I have gold coins worth Rs. 9 lakhs that I can use to repay my loan. This will bring reduction in EMI’s and I will be able to save for my future. What is your view on it?

    September 11, 2014 at 12:07 am #47289
    samkapoor77
    Keymaster

    Since you have gold coins, I am assuming that you have purchased this gold for investment purpose. In my view, you have taken a wise decision of repaying. If you have funds and you don’t look for tax benefits then there is no point of paying 10-11% to bank.

    April 14, 2018 at 4:16 pm #224116
    Sameer Kapoor
    Participant

    sure

    April 14, 2018 at 4:39 pm #224119
    Rakhi
    Guest

    Sure, You should repay ICICI home loan by selling gold coin

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