GIC Home Loan Interest Rate Calculator - Dec 2016

GIC Housing Finance Home Loan Interest Rates

Last Updated 04th Dec 2016
Interest Rate 10.25% - 10.25%
Check Special Offers
Lowest EMI Rs. 982 per lakh
Max Tenure 20 years
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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GIC Housing Finance Home Loan

GIC Housing Finance offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan GIC

Home loan interest rates offered by GIC Housing Finance depends upon PLR.
  • Floating rates changes with a single change in PLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
GIC Housing Finance offers home loan based on PLR rates which is currently 15.00%.
GIC Housing Finance home loan interest rate depends upon
  • Loan amount: Home loan rate in GIC Housing Finance depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: GIC Housing Finance has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. GIC Housing Finance interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. GIC Housing Finance allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - GIC Housing Finance asks for a processing fee of 0.00% of loan amount with applicable service tax

GIC Home Loan EMI Calculator

    Home Loan EMI of GIC Housing Finance is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of GIC Housing Finance helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating GIC Housing Finance Home Loan EMI?
  • EMI calculator of GIC Housing Finance helps you to calculate your monthly EMI at different rate of interest
  • GIC Housing Finance Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

GIC Home Loan Eligibility Calculator

Home Loan eligibility criteria GIC Housing Finance
Eligibility of House loan in GIC Housing Finance relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. GIC Housing Finance offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, GIC Housing Finance Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from GIC Housing Finance. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your GIC Housing Finance eligibility. If you are working with a reputed company, probability of getting home loan from GIC Housing Finance increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: GIC Housing Finance gives you Home loan depending upon your income. GIC Housing Finance gives you an amount ranging from Rs. 1,500,000 to Rs. 30,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    GIC Housing Finance Floating Rate Home Loans

    GIC Housing Finance Home Loan Floating
    Upto Rs. 2,500,000 - 10.25%
    Rs. 2,500,001 - 7,500,000 - 10.25%
    Rs. 7,500,001 - 15,000,000 - 10.25%
    Above Rs. 15,000,000 - 10.25% linked to PLR

    GIC Housing Finance Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to GIC Housing Finance?
    GIC Housing Finance offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of GIC Housing Finance
    You can avail additional top-up home loan from GIC Housing Finance, subject to your eligibility

    Housing Loan GIC documents required

    Home Loan for Salaried employee GIC Housing Finance documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed GIC Housing Finance documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from GIC Housing Finance?
    GIC Housing Finance offers home loan at lower rate of interest i.e. at 10.25% with the lowest EMI of Rs. 982 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to GIC Housing Finance.
    What is the maximum loan tenure I can opt under GIC Housing Finance house loan?
    GIC Housing Finance offers you a longer tenure of 20 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from GIC Housing Finance?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to GIC Housing Finance?
    Yes, GIC Housing Finance gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to GIC Housing Finance offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in GIC Housing Finance?
    The benchmark applicable for home loan in GIC Housing Finance is PLR.
    What is the effect of part payments on GIC Housing Finance housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on GIC Housing Finance housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on GIC Housing Finance housing loan change in future?
    • Floating interest rate on GIC Housing Finance housing loan is linked to its PLR Rate, which is currently at 15.00%. So, when GIC Housing Finance offers a home loan at 10.25%, it applies a discount of 4.75% to its PLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its PLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the PLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    GIC Housing Finance Home Loan in India

    GIC Housing Finance Home Loan Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 1800-103-0000
    Ahmedabad 1800-103-0000
    Ambala 1800-103-0000
    Anand 1800-103-0000
    Aurangabad 1800-103-0000
    Bangalore 1800-103-0000
    Bhilai 1800-103-0000
    Bhilwara 1800-103-0000
    Bhiwadi 1800-103-0000
    Bhopal 1800-103-0000
    Bhubaneswar Cuttack 1800-103-0000
    Bikaner 1800-103-0000
    Chandigarh 1800-103-0000
    Chennai 1800-103-0000
    Cochin 1800-103-0000
    Coimbatore 1800-103-0000
    Dehradun 1800-103-0000
    Delhi 1800-103-0000
    Durg 1800-103-0000
    Faridabad 1800-103-0000
    Gandhinagar 1800-103-0000
    Ghaziabad 1800-103-0000
    Goa 1800-103-0000
    Greater Noida 1800-103-0000
    Gurgaon 1800-103-0000
    Guwahati 1800-103-0000
    Gwalior 1800-103-0000
    Hyderabad 1800-103-0000
    Indore 1800-103-0000
    Jabalpur 1800-103-0000
    Jaipur 1800-103-0000
    Jalandhar 1800-103-0000
    Jodhpur 1800-103-0000
    Kanpur 1800-103-0000
    Karnal 1800-103-0000
    Kolhapur 1800-103-0000
    Kolkata 1800-103-0000
    Kota 1800-103-0000
    Kozhikode 1800-103-0000
    Lucknow 1800-103-0000
    Ludhiana 1800-103-0000
    Madurai 1800-103-0000
    Meerut 1800-103-0000
    Mehsana 1800-103-0000
    Mohali Sas Nagar 1800-103-0000
    Mumbai 1800-103-0000
    Mussoorie 1800-103-0000
    Nagpur 1800-103-0000
    Nashik 1800-103-0000
    Noida 1800-103-0000
    Noida Extn. 1800-103-0000
    Panipat 1800-103-0000
    Patna 1800-103-0000
    Pondicherry 1800-103-0000
    Pune 1800-103-0000
    Raipur 1800-103-0000
    Rajkot 1800-103-0000
    Ranchi 1800-103-0000
    Rohtak 1800-103-0000
    Roorkee 1800-103-0000
    Salem 1800-103-0000
    Shimla 1800-103-0000
    Sonepat 1800-103-0000
    Surat 1800-103-0000
    Trichy 1800-103-0000
    Udaipur 1800-103-0000
    Vadodara 1800-103-0000
    Varanasi 1800-103-0000
    Vijaywada 1800-103-0000
    Vizag 1800-103-0000
GIC Home Loan Interest Rate 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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