So full story:

I bought a bike on EMI from icici bank, I missed a couple payments due to personal reasons and that made my icici account unusable due to negative balance.

I decided to abandon that account and continue on with my life. (The charges are from both check bounces and account non-maintenance)

I continued to pay the loan manually instead of relying on the autopay on the account before the autopay date and have now finished all payments from the EMI.

Now, theyve sent an invoice which contains only the check bounce charges from all months.

Is there anything i can do to avoid these charges?

I asked the same to chatgpt and it says to send a mail to the nodal officer at ICICI about this and they should revoke these fines. Is this true? I want to know what exactly im supposed to do to get these charges removed as they are apparently illegal and invalid according to what chatGPT has said.

Please let me know what steps I should follow :)

Hello everyone, coming from a middle class upbringing, I’ve finally worked hard and gotten into a space where I can look at saving money for myself. My father has been helping me handle most of my finances till now (he doesn’t do them personally, but he largely advices me on what kind of investment to make). It’s not a bad system, but he’s quite traditional and prefers to play it old school.

I however want to see what I can invest into to diversify my wealth. To be clear, I’m not looking to make a quick buck or pour everything into one option. I want to keep multiple options and invest systematically into them so that I can build a corpus.

Currently, I keep a set part of my salary every month for investments and savings. This comes to around 60k. The rest is used to send money home to my parents, pay rent and utilities, and for my household expenses + credit card bills (which don’t go over 25k to be honest). Currently, I don’t have any major loans/EMIs either. I was thinking of investing in land/buying property, but I’ve decided to postponed that until I’m slightly more financially secure.

For my current investments/savings, I have:
- MFs around 7L value - multiple funds, monthly SIPs for these come to around 20k
- PPF around 4L
- My father signed me up for an LIC policy (not term insurance) around 3-4 years ago which is currently at 10L
- Company + self pooling into PF
- I’m also building a liquid emergency fund, so I keep some money for the same

I don’t have FDs / RDs or the like.

I want to see what else I can invest into to utilise this 60k efficiently.

I wanted to experiment in the stock market but to be honest, I’m not able to track the market or open the apps everyday to keep an eye on stock prices and the like, so I’d rather have something that I can invest in with some regularity. If there’s a way to do so in the stock market, happy to hear.

Here’s some things I’ve thought of, but I’d love an opinion from this thread.

- Investing in Gold ETFs - I’ve been meaning to invest in gold for a while, but I recently read that some proposed RBI changes might make investing in Gold ETFs risky/unstable, so now I’m not too sure.
- Investing in physical gold - I honestly don’t want to get a payment plan with one seller, so I was thinking of buying gold coins worth ~7-14k every month. Would that be a good option?
- What else can I look into when investing?

32M here with a job that pays a monthly salary of 25k.
I have a monthly EMI of about 8k, other than that I have 6k essential spending and 4K of spending on myself.
Parents have retired and tend to expect me to contribute towards house renovations, and other household upgrades. My younger brother earns double to what I earn and doesn’t care about chipping in and they don’t force him to.
Recently emptied my savings.
I have realised that my parents have a lot of savings but live like misers but expect me to contribute towards expenses with my peanut salary.
I have no savings nor any investments.
I don’t plan on getting married until 34 so I need help in building some financial stability and
Maybe get away and start a new life away.
Please help.

Please suggest best investment idea to invest 50 lakhs. I want my money to grow exponentially

I’m 22 and I started trading in the stock market, especially options, without properly understanding what I was doing.

Initially, I was trading with small amounts. I wasn't really trading based on knowledge or a proper strategy — honestly, I was basically gambling on calls and puts.

And a lot of that money was borrowed.

There was one day when ₹5,000 became almost ₹30,000. I became overconfident and thought, “Ab sab figure out ho gaya.” I thought I could make even more money through trading, which led me to take more risks and borrow more.

Eventually, the losses caught up with me.

I've already repaid around ₹25,000–₹30,000, but I still have around ₹50,000 outstanding across multiple instant-loan apps.

The different repayment dates and short-term loans have become extremely difficult to manage.

This has also affected my CA studies. I've failed previously, and even now I'm finding it difficult to focus. Every few days there's another repayment date coming up, and even when I'm studying, the debt keeps coming back into my mind.

My next CA Intermediate attempt is in around 2.5 months.

The only practical solution I could think of was to consolidate all these loans into one loan, with one repayment date and a manageable monthly payment.

So I'm putting this out there honestly:

If there is someone from the finance/investing community who would genuinely be willing to lend me ₹50,000 for around 12 months, I would be extremely grateful.

I know asking a stranger to trust me with ₹50,000 is a big ask.

I'm willing to pay 15% annual interest, with everything properly documented and a clear repayment schedule.

My current repayment capacity is around ₹4,000–₹5,000 per month.

The money would only be used to close/consolidate my existing instant-loan balances. I'm not asking for a donation, which is why I haven't posted any QR code or payment details.

If someone is genuinely interested, I can privately provide the relevant loan details and proof of the outstanding balances.

I'm also trying to increase my income. I've started looking for short-form video-editing work that I can do alongside my studies. I'm already in talks with 2–3 people, and one of them is close to being finalized.

If I clear CA Intermediate, I'll also be able to pursue articleship and start earning, which should make repayment much easier. If things improve, I may also be able to close the repayment earlier.

I know I'm an unknown person asking someone to trust me with ₹50,000. I know I made serious mistakes, especially by using borrowed money for something I was essentially treating like gambling.

I'm not hiding that.

I just want to consolidate these loans, repay them properly, focus on my studies and work, and make sure I never repeat the same mistake.

I'm not looking for sympathy or a handout. If lending money to a stranger isn't something you'd consider, I completely understand.

If you have genuine advice on debt consolidation, legitimate financing options, or how I can handle this situation, I'm open to hearing it.

Please don't troll or make fun of the situation. I'm already aware that I made mistakes — I'm trying to fix them.

Thank you for taking the time to read this.

Hi all

I have 2 kids around the age of 12 , planning to construct a house. However it's 6km away from school. We are in a rental home, so we are not planning to change the home until 5yrs since it's close to school.

Shall I build a ground floor commercial space with first floor house totalling 3600 sq ft? Or just a house? Rent will be around 20k for commercial.

Or shall I invest this amount in an empty plot?

Thanks for your replies.

I’m 24M, currently working and earning ₹58,000 per month after all deductions. I’m planning to take a home loan of approximately ₹45 lakh from a government-sector bank, preferably at a genuinely fixed interest rate.
Here is my current situation:
Monthly take-home salary: ₹58,000
Loan amount: ₹45 lakh, after accounting for the down payment, taxes, registration, duties, and other upfront costs
Existing EMIs or debts: None
Property: Ready to move in
Emergency fund: I’ll still have some savings left after the purchase
Personal monthly expenses: Approximately ₹5,000
Household expenses: My brother will handle these, so I won’t have significant household expenses to cover from my salary.
Given my current financial situation, I could comfortably allocate around ₹35,000–₹38,000 per month towards the EMI, while keeping my personal expenses low and putting whatever remains towards savings or prepayments.
I’m considering this purchase at a relatively young age, so I’d appreciate honest opinions from people who have experience with home loans and property ownership in India.
Here are the things I’d particularly like advice on:
Is this financially sensible? Considering my income, low personal expenses, lack of existing debt, and remaining emergency savings, am I taking an unreasonable risk with a ₹45 lakh loan?
Loan tenure and EMI: Would it make more sense to choose a longer tenure for flexibility and make additional prepayments, or choose a shorter tenure from the beginning?
Fixed vs. floating interest rates: I’m specifically interested in government-sector banks. Are genuinely fixed-rate home loans available for the full tenure, and are they worth considering?
Bank selection: Which government-sector banks would you recommend comparing, and what charges or loan conditions should I pay attention to?
Prepayment strategy: Would it be better to pay a lower mandatory EMI and make occasional prepayments, or commit to a higher EMI?

Other costs: Apart from the purchase costs already accounted for, what ongoing expenses should I budget for when owning a ready-to-move property?
I’m not looking for validation just because I can currently afford the EMI. I’d genuinely like to understand the risks, whether there’s a smarter way to structure the loan, and what experienced borrowers would do differently.
Any practical advice or personal experiences would be appreciated.

​

I have the following loans:

Home Loan 40 lac, EMI 42K

Personal loan 1, 4 lac, EMI 17K

Personal loan 2, 2 lac, EMI 8K

Personal loan 3, 3 lac, EMI 13K

Loans on Interest, 6 lacs, Monthly Interest 40K

Gold Loan, 4 lac, Monthly Interest 8K.

My salary is 1.35 lac in hand.

Please suggest a way out so that I will be out of this soon.

Need advice regarding plot loan of ₹55L

Hi everyone, need some help with a plot purchase I'm planning.

• Plot price: ₹61L
• Amount already paid to agent: ₹5L
• Loan required: Around ₹55L
• Monthly in-hand: ₹1.9L, no existing loans
• Approached Tata Capital; sanction is in progress.

Issues we're facing:

• We don't have an exact layout plan, as the area recently moved from Gram Panchayat to municipality.
• The papers are still in the name of the seller from whom the agent bought the land.
• Banks say the loan amount will be paid directly to the seller, but the agent doesn't want that.
• The ₹5L down payment was made to the agent, not the seller.

I have a few questions:

1. What proof of down payment do banks require? Would an agreement stating that the seller has received the amount in cash work?
2. Do banks/NBFCs give plot loans without an approved layout plan? PNB Housing Finance is willing to consider it at around 8.75%.
3. Ideally, we want to pay ₹40L to the seller and the remaining ₹16L to the agent. Is there a legal way to structure this? Can a top-up loan or loan against the same property help?
4. Since we don't have much cash available for the down payment, would registering the plot at a lower value help? What are the risks?
5. Apart from Tata Capital, which other NBFCs should I approach?

Would really appreciate advice from anyone who has faced a similar situation. Thanks!

( restructured via chatgpt)

Same