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ZoomyPenguin
ZoomyPenguin
Infosys

Need Advice on cleaning the loan🙏

Loan Amount: Rs 500000 Tenure: 60 months Offered Rate of Interest as on 11/07/2025: 10.55% EMI: Rs 10760 EMI start date: 05/08/2025 EMI end date: 05/07/2030

I have already paid my EMI from Aug to Nov, Now in Dec I am thinking with my Nov salary that I will pay 1lakh to reduce the Principal amount. And from Dec Salary itself I will start paying 50k extra per month along with EMI and in that way I am able to pay all the amount and become debt free by July 2026.

Is there any other better approach? Pls help me.

3mo ago
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CosmicBiscuit
CosmicBiscuit
ICICI Bank3mo

You adapted the best way. Try to close it asap.

ZoomyPenguin
ZoomyPenguin
Infosys3mo

Thanks buddy 🙂

DancingLlama
DancingLlama
Infosys3mo

Is it a personal loan? How much was the processing fee? Didn’t you ask them to reduce interest rate? Btw after clearing the last emi get a noc from the bank 🏦

ZoomyPenguin
ZoomyPenguin
Infosys3mo

It's a personal loan buddy. Yeah thanks for that Noc wala part !

ZoomyPenguin
ZoomyPenguin
Infosys3mo

Nah, bro this is the least intrest rate that ICICI can give to infosys employee for Pl

JazzyKoala
JazzyKoala
Infosys3mo

The good thing is no foreclosure and part payment charges for infy employee take advantage of that

ZoomyPenguin
ZoomyPenguin
Infosys3mo

Yes sir I forgot this actually 😂

SquishySushi
SquishySushi
Accenture3mo

Interest based Loans are a trap, you shouldn't be greedy

ZoomyPenguin
ZoomyPenguin
Infosys3mo

Yes sir, now I am correcting my mistake 🙂

SillyNoodle
SillyNoodle
TCS3mo

Is it personal loan or home loan

ZoomyPenguin
ZoomyPenguin
Infosys3mo

Personal loan Sir

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