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

This topic contains 1 reply, has 2 voices, and was last updated by  Rampal Yadav 2 years, 2 months ago.

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  • #47288

    Rampal Yadav
    Member

    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?

    #47289

    Mita Bhosle
    Member

    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.

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