r/IndiaFinance

I really need some honest advice because this situation has been mentally and financially draining for my family.

Back in 2011, my dad was working under a local politician (in his bank). During that time, my dad was pressured/threatened into taking a loan using our house papers.

We never used that money ourselves.

On top of that, my dad didn’t even receive proper salary from him for around 11 years.

Despite all this, we still tried to repay. Over time, we paid around ₹16L from our own pocket.

But the bank manager treated that ₹16L not as principal repayment, but adjusted it toward interest and kept adding more interest on top. It felt like endless “interest on interest.”

Eventually, my dad’s financial situation worsened and we couldn’t keep up.

Now recently, the bank took possession of our house and told us it’s now their “asset,” and the only way to get it back is to settle.

Total demanded: ₹29L

Already paid earlier: ₹7L

Now arranging: ₹22L (by breaking FDs saved for my and my sister’s marriage)

So overall:

₹16L (earlier payments)

₹29L (current settlement)

= ₹45L total

For a loan we never even used.

We are going ahead with the payment because we don’t want to lose our house. But this whole situation feels extremely unfair from being forced into the loan, to unpaid salary, to how the bank handled interest.

After we close this and get our documents back:

•	Do we have any realistic legal options in India?

•	Can we recover money (at least the ₹16L or excess interest)?

•	Can anything be done about unpaid salary for 11 years?

•	Is it even worth pursuing this legally or will it just drain more time/money?

Would really appreciate guidance from anyone with legal/banking experience or similar situations.

Right now it just feels like we’re paying for something that was never our fault.

Which bank is best among this mentioned bank?

1. IndusInd Bank

2. ICICI Bank

3. State Bank of India

4. HDFC Bank

5. Kotak Bank

I wanted to use it for various purposes like investing, financing, salary, expenses and much more

Please help me to find a good bank which can do all types of work which I have stated

Edit: If someone is a user of any of this mentioned bank then please help me how your experience was there with each bank and how much fees(total charges or maintenance fee) it will take from me and what benefits are they providing in each bank respectively

Lastly, what is the cost and minimum to maximum balance according to your experience, if anyone had to say then direct message me

​

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I’ve been thinking about this milestone a lot—your first ₹1 lakh always seems harder than the rest.

For me, it’s taking longer than expected. Between random expenses, going out, and just lack of discipline, saving consistently has been tougher than I imagined.

Everyone talks about crores and FIRE, but I feel like the real game starts with that first ₹1 lakh.

So I’m curious:
How long did it take you to reach your first ₹1 lakh?
What worked for you—strict saving, investing, side income, or something else?
Did you actively invest that money or mostly save it first?
What would you do differently if you had to start again?

I would love to hear real journeys, especially the ones that weren’t smooth or straightforward.

A guy I know who works at a finance company(similar to bajaj finance etc )has been using my PhonePe to make gold loan payments. He sends me the money first and then uses my phone to enter some loan number and pay. This has happened around 7 to 8 times over the last few months.

Recently I checked the transaction history and noticed that every payment shows a different customer name(each payment is for another customer when i go to view historythe name ofte personwhotook that loan is different). The amounts are usually around 3000.

I am not directly involved in his work and I do not understand why he cannot use his own account or official system for this.

Is this normal practice in finance jobs or is this something risky for me pls let me know

Hey folks,

I’ve been trying to understand what actually slows you down in your day-to-day work in banking / fintech / risk / analytics.

I’m more curious about the real, annoying, ground-level problems you deal with.

For example:

• Things that take way longer than they should
• Work that feels unnecessarily manual
• Data issues that keep coming back
• Stuff that breaks when moving from analysis → production
• Or anything where you’ve thought: “why is this still so painful in 2026?”

Would love to hear from:

• Risk analysts
• Data / ML folks in BFSI
• Ops / compliance teams
• Anyone working with loans, credit, fraud, etc.

Even small frustrations are welcome — those are usually the most interesting.

Also curious:
👉 If you could automate or completely remove ONE part of your workflow, what would it be?

Not selling anything, just trying to learn how things actually work behind the scenes.

Appreciate any insights 🙌

M32 based in pune. Cibil 722

I know there are lot people asking for money.. but I have 2 CC debts around 2.15 lacs and Personal loans around 3 lacs ..all this happened cause two years back I was in dire financial situation had to shut my business down since thn this trap started.(emis goes to 60k with cc stupidity minimum dues)

now I have a permanent job with 50k in hand i know its not much but the loan apps and everything feeling like a crazy burden ..I am hard working and honest guy but made absolute stupid mistakes. really regretting maxing out credit cards as temporary relief. now unable to get any personal loan . since job is new. i am very well financial planner but my business relies on government payouts so I was laid back about billings.

all I need to consolidate and work towards improving.

if anyone works in bank or lender with normal interests.

I understand their are log of intelligent and smart people here but now I need money more thn advice tbh.

if anyone can refer or anything please do.

Long story short: Took a loan of 13L from the bank, have to return the entire money back to the bank now due to change of plan, the bank says I can't return the amount before 6 months (takes EMI every month) otherwise they'll put penalty on me.

Is there anyone who can guide me because the agreement is written in extremely technical language and is 20+ pages long. Pls help🙏🏼

I'm a 22 year old boy doing BTech in CSE from some tier 2 college could get placed around 4-6 LPA in 3 months, but i want to earn good money with valuable and profitable skills, what skills should i learn? I still have 1 year left of college. I've saved 10k rupees till now ik it's not much. In the era of AI I don't consider myself very skilled that i would do good in this career. I'm a little scared rn of being poor, u wanna know about some lesser known skills and professions that pay high.

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Hi everyone, We are planning to invest in property and are confused between two options:

Buying 0.5 acre of agricultural land (\~2425 sq yards) in a village about 14 km from the upcoming port area machilipatnam in Andhra Pradesh for around ₹10 lakhs.

The plan is to lease it to a farmer Expected return: \~600 kg rice per year.

or Buying 150 sq yards residential plot near vijaywada city for around ₹26 lakhs

We are mainly looking at this as a long-term investment.

Questions:

Is farmland in a village near the Port area (14 km distance from the port area) a good investment considering the port development expected next year?

Or is it safer to go with a residential plot near Vijayawada?

Which option has better growth?

Looking for practical, real-life advice. Thanks!

iam not experienced just asking out of curiosity.Assume , i have 2 property which I want give it for rent. If combined rent amount is 50k . Do I need pay income tax or I can just accept the money directly without any tax . Assume I made all legal agreement . And if my combine rent amount is more than 1.5lakhs per month in that case do I need to pay tax .

I heard that if a person earn more than 12 lakh per year as salary he have to file incometax . And how we will file this income tax .? do we need to consult a CA for that .?

tax for salary and rent same ? do we need to submit income tax report for that ?.

my uncle said me yesterday that he is going to meet the CA to submit incometax? can anyone please explain all in simple way?

our family income is so low that we never had to pay such incometax ( report submition and all ) or my parents are not aware about incometax and just spend all money they earned 😁

I’ve been thinking about this lately.

For long-term goals, investing makes sense.
For daily expenses, a savings account works.

But what about that awkward middle zone — money you know you’ll spend in the next 1–3 months?

Like:
Daily Expense
Big payments coming up

Keeping it in a savings account feels lazy (basically earns nothing).
But investing it aggressively doesn’t make sense either.

So lately I came across this post of an app called Multipl and they had a new Idea called High Yield Spending Account, where you can earn up to 7% other than getting the minimum returns in a Savings Account.

Curious if anyone knows some other apps for this?
Because I feel savings account is where a lot of money just sits idle without us realizing.

Hello everyone! Long story short !

I am stucked in very bad debt position

Currently having a LAP of 75 lakh + 18 lakh top

And some other personal & business loans

Also credit card debt increasing

Total debt around 1.7 crore

Got and offer from aditya birla (lap is running from here only)

The offer is that are offering me 1.5 cr from which they will deduct the old LAP and rest i they will transfer to me so that i can close all my other loans

Catch is that they are asking for a 2 lakh ruppe bond that i have to buy from them before disbursement but after sanction ! Please help me suggest that is it a scam or not !

I’m looking for some guidance on a real estate investment model that’s new to me, and I’d really value inputs from this group.

A known contact (early-stage developer) is planning a residential apartment project in North Bangalore in the airport corridor and is inviting around 20–25 individuals to join as investment partners in an LLP structure. He and the architect would be the proprietors.The idea is that investors contribute a fixed amount upfront, become partners in the LLP during the project lifecycle, and upon completion, each investor receives a residential unit (3BHK). The partnership is expected to end once the unit is registered in the investor’s name.

Key points shared:

1.Land is yet to be finalized (currently in discussion stage).

2.Approvals and construction will follow (estimated ~3–4 years total timeline).

3.Investors are being offered units at a significant discount (50%) compared to expected market price.

This structure is quite different from a typical under-construction purchase, since investors are effectively partners in the LLP until completion.

I am reluctant to have a few concerns around:

1.How financial risk or potential losses are typically handled for investor partners in an LLP structure like this, especially when the contribution is presented as fixed.

2.Exit options if the project is delayed or does not proceed as planned.

3.Risk exposure since the project is at a very early stage (land not yet finalized).

4 Governance/decision-making with multiple investor partners

At the same time, I can see why the discounted entry is attractive and there is some interest within my family to explore it further.

Would really appreciate perspectives from those who have:

1. Invested in similar LLP / group real estate models and is it worth taking this high risk?.

2. Legal or financial understanding of such structures.

3. Suggestions on what due diligence or safeguards are essential before considering this.

Thanks in advance for your guidance.

The potential closure of the Strait of Hormuz mirrors Atlas Shrugged by highlighting how the disruption of a vital economic lifeline by a hostile force can cause rapid global systemic collapse, reflecting the book's theme of society crumbling when crucial, productive infrastructure is halted. Both scenarios feature a "shrug"—Iran weaponizing its critical oil route, halting 20% of global oil shipments—and echo the novel's focus on the breakdown of complex, interdependent systems.

The Hindu

The Hindu

+3

Key parallels include:

The "Shrug" of Vital Infrastructure: Iran’s use of its strategic position to halt tanker traffic echoes the "strikers" in the book shutting down productive, essential industries.

Systemic Fragility: Just as the destruction of Taggart Transcontinental threatened to freeze the nation, disrupting the Strait of Hormuz acts as a chokehold on the global economy.

Arrogance and Collapse: The crisis is exacerbated by political "arrogance and stupidity", similar to the bureaucratic incompetence in Atlas Shrugged, where leaders fail to protect productive assets, leading to a "world recalibrating around American unpredictability".

The "One Percent" Crisis: The conflict has been described as a real-world parallel to a "world without the 1 percenters," where the disruption of key economic engines brings down the whole system.

Global Dependence and Vulnerability: The heavy reliance on this single bottleneck highlights a fragility similar to the society in the novel, which becomes chaotic when its productive forces (or in this case, energy supplies) are no longer functional.

The Hindu

The Hindu

+5

The situation demonstrates how the modernization of naval conflict (using drones and mines) and the weaponization of energy supplies can create a crisis that threatens the global, interconnected order, mirroring the collapse depicted in the nove

Not talking about crazy stock picks or hitting a jackpot…

I mean that one decision or habit that actually changed your financial life.

For me, it wasn’t earning more — it was when I finally started separating my money with intent:
Expenses in one place
Investments automated
Short-term money parked separately instead of lying idle

Sounds simple, but that shift made everything feel more in control.

Since then, even small progress feels like a win.

Curious to hear yours:
Was it a specific investment, a habit, getting out of debt, or just becoming more disciplined?

What’s that one moment or move you’re glad you made?

i gave 1.6 lakhs to my brother (who lives in another city) for crypto trading as i don’t know much about crypto. how do i keep track of how the investment is going? apart from his whatsapp updates, i have no idea on what’s going on and whether it’s gaining anything or not. so, can anyone let me know how i can keep real-time track on it? i have zero knowledge on crypto.