GIC Housing Finance PLR, GIC Housing Finance PLR Past Trend

Current GIC Housing Finance PLR

Last Updated 31st Dec 1969
PLR 15.00% * History
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  • Home Loan Interest Rates - 10.25% * Floating Detail
    Interest Rate :
    10.25%
    Lowest EMI :
    Rs. 982 per lakh
    Tenure :
    Max 20 years
    Processing Fee :
    0.00%
    Age :
    Max 60 years for salaried
    Prepayment Charges :
    Allowed with nil charges for floating rate loans
  • This is a notional interest rate to which interest rate on GIC Housing Finance’s floating rate loans is benchmarked
  • Current GIC Housing Finance PLR is 15.00%, which was last updated by GIC Housing Finance on 30th Nov -1 as per information available with MyLoanCare.
  • Typically, all loans by GIC Housing Finance are priced at a discount to the GIC Housing Finance PLR
  • Applicable rate of interest on all GIC Housing Finance floating rate loans, such as home loans, loans against property, business loans, SME loans linked to PLR will vary with changes in its PLR from time to time
  • GIC Housing Finance decides its own PLR from time to time
  • The RBI or NHB do not mandate or decide the PLR of any NBFC or HFC. Since NBFC’s typically have a higher cost of raising funds and higher cost of operations than those of banks, mostly they tend to offer loans at higher interest rates compared to banks
  • Sometimes, NBFC’s may have different benchmark PLR’s by customer segment and by product. E.g., an NBFC may have one PLR for retail and another one for corporate
  • When pricing a loan, GIC Housing Finance typically offers a discount to the PLR to arrive at its lending rate

GIC Housing Finance PLR Vs. RBI

  • RBI/ NHB require each NBFC/ HFC to set their own PLR rate based on their cost of funds. So, GIC Housing Finance decides its own base rate from time to time based
  • Note that the RBI/ NHB does not decide the PLR rate

Changes in PLR of GIC Housing Finance

  • PLR rate can be revised by GIC Housing Finance periodically in line with changes in interest rates in the market

GIC Housing Finance home loan interest rate and PLR

  • Every floating rate loan sanctioned by GIC Housing Finance is benchmarked to its PLR rate
  • The applicable rate of interest on a floating rate loan will consist of two parts – the applicable PLR and a spread or margin (which is typically negative in case of NBFC’s and HFC’s)
  • Your loan from GIC Housing Finance will be repriced periodically depending upon change in PLR. So, a home loan from GIC Housing Finance will be repriced every time the PLR of GIC Housing Finance changes. Say, you take a loan at PLR minus 6.75% spread when the PLR is 16.25%. This loan will initially be priced at 9.50%. Whenever GIC Housing Finance changes in PLR rate, the applicable rate of interest will change correspondingly.

Past trend of GIC Housing Finance PLR vs RBI Repo Rate

Date PLR
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
25th Jan 11: 0.25% repo hike by RBI
02nd Nov 10: 0.25% repo hike by RBI
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI

GIC Housing Finance PLR Vs. RBI Repo Rate Trend

About GIC Housing Finance

  • GIC Housing Finance's registered office is located at National Insurance Building 6th floor, 14 Jamshedji Tata Road, Churchgate Mumbai-400020.
  • GIC Housing Finance's management is led by its CEO Mr. Warendra Sinha.
  • Its current PLR is 15.00%, which was last revised on 30th Nov -1.
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News - Dec 2016
28th Jul 16 GIC Housing Finance Q1 net rises 14 percent to Rs 32 Crore
As per the results for the Q1FY17 , GIC Housing Finance reported a 14.4 percent increase in its Net Profit to Rs 32.32 crore. Total Income increased by 14.8 percent to Rs 234.87 crore in June quarter as compared to previous year. provision for contingencies increased by 50.75 % on a yoy basis and the provision for taxes increased by 15 percent compared to the previous year.
29th Apr 16 GIC Housing Finance Q4FY16 standalone net profit rises 34.55 percent
As per the results stated quarter ending March 2016, GIC Housing Finance Net Profit increased by 34.55 percent year on year to Rs. 35.87 crore. Its Net Interest Income (NII) increased by 23.373 percent year on year to Rs. 78.27 crore
22nd Jan 16 Future Generali ties up with GIC Housing Finance
Future Generali India Life Insurance has partnered GICHFL to offer group credit life insurance its product Future Generali Loan Suraksha Plan.
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