A "low interest" loan shouldn't mean you have very little interest in paying it back!
Home loans from GIC Housing Finance can be availed under various categories at interest rates ranging between 8.80% p.a.The maximum repayment tenure on the loans is 30 years and the maximum loan that can be availed is 90% of the value of the property.
GIC Housing Finance offers affordable interest rates and attractive features that make it easy to own your dream home. Here are the details of the home loans:
| Interest Rate | 8.80% p.a. onwards |
| Loan Amount | Up to 90% of the property value |
| Processing Fees | Up to Rs. 3000 + GST |
| Prepayment/Foreclosure charges | Nil |
| Max Tenure | 30 years |
| Rate packages available | Variable rate |
Compare: Home Loan Interest Rate all Banks
GIC Housing Finance offers a variety of home loans that can be used for a wide range of purposes, from purchasing land to constructing or renovating a house. Here are the major loan schemes:
You can use the home loan EMI Calculator tool available on the BankBazaar website to calculate the equated monthly instalments (EMIs) you need to pay towards the repayment of your loan. Calculating the EMI is important to assess your affordability to repay the loan and to plan your monthly finances in a better manner.
To calculate the EMI, you will just need to enter the loan amount, tenure, and the interest rate on the tool. On doing that your EMI will be calculated and shown to you, along with the total interest payable and total amount payable on the loan.
The eligibility for availing the various home loans from GIC Housing Finance will depend on the type of loan the information of which can be found by contacting its nearest branch.
You are required to provide the following documents to avail a home loan from GIC Housing Finance:
| Identity Proof | PAN card/Passport/ Driving license/Voter ID card/Aadhar Card |
| Residence Proof | Utility Bills such as telephone, electricity bill, water bills, postpaid mobile bill etc./Ration card/ Rent Agreement/Letter from employer/Bank statement /copy of Passbook reflecting the address |
| Income Proof | Salaried applicants – Salary certificate or 12 months’ salary slips and 6 months bank statements Professionals – Qualification certificate, previous 3 years Income Tax Returns (ITRs), VAT/Service Tax/TDS Certificate/GST Returns, Profit and Loss account for past 3 years, audited balance sheet, and last 12 months bank statement Businessmen – Past 3 years ITRs with income computation, 12 months’ bank statement, Profit and Loss account for past 3 years, audited balance sheet, and VAT/Service Tax/TDS Certificate/GST Returns |
| Property Documents | Agreement of Sale, Allotment letter from builder, NOC from builder, Registration and stamp duty receipt, Own Contribution Receipt (OCR), Development Agreement, all builder linked documents, Partnership Deed, Tripartite Agreement, Sale Deed, NA order, Title Search Report, and Occupancy Certificate |
Yes. On availing any home loan from GIC Housing Finance, you will receive additional benefits of free accidental death insurance, free property insurance, and life insurance.
Yes, you will be entitled to receive tax benefits under Section 24 and Section 80C of the Income Tax Act. A maximum deduction of Rs.1.5 lakh from the income can be availed.
You can repay your loan through National Automated Clearing House (NACH)/Electronic Clearing Service (ECS) by giving standing instructions to your bank. You can also repay your loan through post-dated cheques (PDCs) drawn on your savings/salary account.
The loan availed under PMAY needs to be repaid in a maximum of 20 years.
Yes, GIC Housing Finance allows you to transfer your loan balance from another lender to GICHFL at competitive interest rates.
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