GIC Housing Loan
GIC Housing Loan
With 75 offices across the nation, GIC Housing Finance Company is known for granting quick and easy home loans to interested applicants who wish to purchase a home, construct a house on a plot, and extend a home. The GIC home loan interest rate starting at 8.80% per annum is an affordable bet for several potential home buyers. GIC Housing Finance offers home loans for a maximum tenure of 30 years. The maximum loan amount granted by the NBFC is up to 90% of the property value. The processing fee for a housing loan from GICHF is Rs. 2,500 plus GST. The NBFC offers four main home loan schemes: regular home loans, affordable home loans, composite home loans, and balance transfer home loans.
GIC Housing Loan
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GIC Housing Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
GIC Housing Loan Key Highlights
Get the lowest interest rates with GIC Housing Bank Home Loan
Loan Amount: Up to 90% of the property value
Rate of Interest: 8.80% per annum
Processing Fee: Rs. 2,500 + GST
Maximum Tenure for Repayment: 30 years
Rate Packages: Fixed/ Floater
Charges for Prepayment/Foreclosure: Floater: Nil | Fixed: Up to 2% of the outstanding loan amount
GIC Housing Loan Interest Rates in 2026
GICHF offers quick and affordable home loans to potential home buyers. GIC Housing Interest rate starts at 8.80% per annum. These home loans are open for salaried as well as self-employed borrowers who want to purchase, renovate, extend, and construct a home with minimum documentation from GIC Housing Finance. The table below enlists GIC Housing Finance Home Loan interest rates 2026:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| GICHF Apna Ghar Yojana | Starts at 8.80% p.a. |
| GICHF Affordable Home Loan | Starts at 8.80% p.a. |
| GICHF Composite Home Loan | Starts at 8.80% p.a. |
| GICHF Balance Transfer Loan | Starts at 8.80% p.a. |
GIC Housing Loan Eligibility Criteria
Like any other bank or NBFC, GIC Housing Finance has pre-determined eligibility criteria for applicants who wish to apply for a home loan. These are based on the borrower's age, nationality, CIBIL score, work experience, and repayment capacity. The table below enlists the GIC home loan eligibility criteria for your reference:
For Salaried Individuals
Age Range (in years)
21 - 60
Nationality
Indian Residents/ NRIs
Minimum Income
Rs. 25,000 per month
For Self-Employed Individuals
Age Range (in years)
21 - 65
Nationality
Indian Residents/ NRIs
Minimum Income
Rs. 25,000 per month
GIC Housing Loan Processing Fee and Charges
GIC Housing Finance charges specific fees for different operations related to a home loan. GICHF charges a processing fee of up to Rs. 2,500 + GST for different types of home loan schemes.
The table given below highlights the updated GIC home loan processing fees and charges for 2023:
| Charge Type | Amount / Details |
| Administrative Fee | Rs. 5,000 - Rs. 12,000, depending on the type of home loan scheme |
| Cheque Bounce Charges | Rs. 400 per instance |
| Rate Package Conversion Charges | Up to 2% of the outstanding loan amount |
| Foreclosure Charges | Floater: Nil / Fixed: Up to 2% of the outstanding loan amount |
| Foreclosure Statement | Rs. 500 + GST |
| Handling Charges for Security Documents | Rs. 1,200 + GST |
| Overdue Charges on Default Installment | 15% per month on the outstanding due |
| Stamp Duty | As per the applicable law |
| CERSAI Charges | Loans up to Rs 5 lakh: Rs. 50 / Loans above Rs. 5 lakh: Rs. 100 |
GIC Home Finance Schemes And Top Plans
GIC Housing Finance offers different types of home loans to suit the varied needs of potential home buyers. Have a look at the popular housing loan schemes on offer by GICHF:
- Ideal home loan for a purchase or a new or resale property
- Maximum loan repaying tenure is 30 years
- Loan amount between 75% to 90% of the property value
- Ideal home loan scheme for construction, extension, or purchase of a home
- Maximum loan amount up to Rs. 28 lakh in urban regions
- Maximum loan amount up to Rs. 20 lakh in rural regions
- Perfect home loans for borrowers who want funds to purchase a plot and construct a home on it in the coming years
- Maximum loan amount for home construction home loans depends on the estimate of the construction cost
- Maximum loan amount is up to 60% of the property value for home purchase
- Available for construction, renovation, and personal financial needs
- Takeover loan amount + Rs. 10 lakh for mortgage loan
- Takeover loan amount + Rs. 15 lakh for renovation loan
- Takeover loan amount + construction loan depending on the NHB terms and conditions
* Note: All of the above home loan plans are made available to applicants solely at the discretion of GIC Housing Finance, taking into consideration the earning and repayment capacity of the applicant.
Documents Required to Apply for a GIC Home Loan
While applying for a home loan from GICHF, make sure to submit a set of general KYC documents. These are documents used by the NBFC to verify the applicant's identity, age, address, and income. Have a look at the GIC home loan documents required list for your reference:
| Proof of Income |
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| Other Required Documents |
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| Proof of Income |
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| Other Required Documents |
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| Identity & Address Proof |
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| Documents Related to Property |
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Apply Home Loan Through BASIC Home Loan
GIC Housing Finance offers easy home loans to eligible applicants. An applicant can go ahead with the GIC apply loan procedure online by following these steps: Apply for a Home Loan Through the BASIC Home Loan website
Apply Now on the BASIC Website
Proceed to the 'APPLY NOW' section on the BASIC Home Loan website.
Enter Your Details and Submit
Fill in the form by entering your name, contact number, and other required details, and submit the form.
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