GIC Housing Finance Limited was established as 'GIC
Grih Vitta Limited' on December 12, 1989 with the objective of
granting housing loans to individuals and to persons/entities
engaged in construction of houses/flats for residential purposes.
GIC Housing Finance was promoted by the General Insurance
Corporation of India along with financial institutions like UTI,
ICICI, IFCI and HDFC.
GIC's Step Up/Down schemes are unique for the flexible repayment
options. Borrowers have the option to pay smaller amounts (EMI)
initially and proportionally larger amounts (EMI) during the later
part of the tenure of the loan or vice-versa. Thus these schemes
benefit both aspiring individuals moving up the career ladder and
seasoned executives approaching their retirement age.
GIC home loans also provide the option of Flexi-Fixed rates of
interest. avail of the option of having your loan requirement
split up into two portions made up of one portion with a Floating
rate of interest and the other with a Fixed rate of interest. The
ratio of Floating to Fixed is purely dependent upon your
convenience and desire, but care would be taken to round off the
respective amounts to the next upper Rs.1000/-
GICHFL has presence in 23 locations across the country for
business. It has got a strong marketing team, which is further
assisted by Sales Associates(SAs). It has tie-ups with builders to
provide finance to individual borrowers.