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Compare India Shelters vs GIC Housing Finance Home Loan

Download Comparison
Bank
Interest Rate
Interest Rate
12.00% - 20.00%
10.25% - 10.25%
Processing Fees
Processing Fees
Upto 2.00%
Min ₹ 2,500;
Maximum Loan Amount
Maximum Loan Amount
₹ 1 Cr
₹ 3 Cr
Maximum Tenure
Maximum Tenure
20 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,101
₹ 982
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
PLR
PLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
For Women
For Women
N
N
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3/5.0
3.5/5.0
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Compare Home Loan EMI of India Shelters and GIC Housing Finance

Loan Amount India Shelters GIC Housing Finance
₹ 10 Lakh ₹ 11,011 ₹ 9,816
₹ 25 Lakh ₹ 27,527 ₹ 24,541
₹ 30 Lakh ₹ 33,033 ₹ 29,449
₹ 50 Lakh ₹ 55,054 ₹ 49,082

Which is a better bank for Home Loan – GIC Housing Finance or India Shelters?

GIC Housing Finance offers lower Home Loan EMI at ₹ 982 on a Home Loan for 20 Years as compared to India Shelters with a minimum EMI of ₹ 1,101 for 20 Years. Average customer ratings for GIC Housing Finance is currently at 3.5/5.0 which makes it a good choice for taking a Home Loan.

How does GIC Housing Finance Home Loan compare with India Shelters Home Loan?

It is important to do a detailed comparison of GIC Housing Finance and India Shelters on all loan terms and conditions to understand their differences and make an informed decision. Keep in mind that each bank’s scheme has its pros and cons that have to be evaluated before choosing the best offer. Some of the key results of the comparison between the two banks are:

  • Lowest Interest rate of GIC Housing Finance Home Loan is 10.25%, which is lower than the lowest interest rate of India Shelters at 12.00% and hence, GIC Housing Finance is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, GIC Housing Finance charges a lower processing fees of Nil vs India Shelters with a processing fees of 2.00% of loan amount.
  • GIC Housing Finance is a with its Home Loan rates benchmarked to PLR. On the other hand, India Shelters is a with its home loan rates benchmarked to PLR. Hence, both banks are benchmarked to the same rate, making them a comparable option to choose from.
  • GIC Housing Finance has an average customer ratings of 3.5, while India Shelters has an average customer rating of 3, based on which it is clear that GIC Housing Finance has a high customer service focus, an easy Home Loan process and a quick turnaround.

Which bank offers a lower interest rate on Home Loan – GIC Housing Finance or India Shelters?

As per the current rates, GIC Housing Finance offers a lower interest rate of 10.25% on Home Loan when compared to India Shelters which offers a Home Loan at 12.00%.

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Home Loan News - Sep 2021
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-17 : Bank of Baroda Slashes Home Loan Interest Rate
    Bank of Baroda (BOB) has introduced a festive offer #KhushiyonKaShreeGanesh. The lender has reduced the home loan interest rate to 6.75%. Along with a slashed interest rate the bank has also waived off processing fees.
  • 2021-09-17 : SBI Bring Down Home Loan Interest Rate
    State Bank of India (SBI) has slashed home loan interest rate by 45 bps (basis points). A customer whose cibil score is above 800 can get a home loan at a lowest rate of 6.70% and whose score is in between 750-800 will get a loan at a rate of 6.80%.
  • 2021-09-14 : DCB Bank Revises MCLR Rate
    DCB Bank has revised the Marginal Cost of Funds Lending Rate (MCLR) for different tenures. Now, the one-year and six-month MCLR are 9.02%. Three-months MCLR is at 8.77%, one month and overnight MCLR is 8.07%.
  • 2021-09-10 : Kotak Mahindra Bank Cuts Home Loan Interest Rate
    Kotak Mahindra Bank has reduced the home loan interest rate by 15 basis points (bps), ahead of the festive season. Currently, the minimum rate of interest is 6.50%, the special rate is applicable from 10 September 2021 to November 8, 2021.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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