Table of Content
- Home Loan Ludhiana – Interest Rates 2022, Eligibility, EMI, Apply
- GICHFL Home Loan Processing Fee and Other Charges
- GIC Housing Finance Home Loans Interest Rates Updated on 14 Dec 2022
- Document Checklist for GIC Housing Finance Home Loan
- How to apply for GIC Housing Finance Home Loan
- ✅ What is the applicable interest for GIC Home Loans?
The stamp duty, registration charges paid for the transfer of title of the property will also be considered for deduction. The loan amount is linked to the market value of the property and varies with the type of loan availed. It was a great experience i had with Bank Bazaar where the process in getting this loan has been quite smooth and simple.
Provide the loan amount, tenure and the rate of interest and the EMI will be calculated and displayed instantly. You can calculate the EMI with different combinations of the variables until the desired EMI is arrived at. The GIC Housing Finance Home Loan Interest Rate starts at 8.20%. The interest rate depends on the credit score of the applicant and so will be variable.
Home Loan Ludhiana – Interest Rates 2022, Eligibility, EMI, Apply
You can use the home loan EMI Calculator tool available on the BankBazaar website to calculate the equated monthly instalments 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. GICHFCL does not offer any premier service to the HNWI, and there is no specific home loan targeted at them. The quantum of loan repayment or EMI you can afford every month.
Security refers to the mortgage of you property, which you are planning to purchase, or of the plot, on which you are looking to construct a home or of already existing home when you are planning to renovate. The GIC Housing Finance provide many facility for own homes such as to take or purchase our house for this a home loan, to a home of own dream, renovating the old home into a complete new home. The following documents are required for GIC Housing Finance home loans. Copies of the documents mentioned below have to be submitted and originals have to be provided for verification only. Balance transfer of outstanding liability of home loans at other financial institutions is an option. Composite home loans are provided for the purchase of a plot and construction thereon.
GICHFL Home Loan Processing Fee and Other Charges
There is some special loan or popular type of loan product and for this kind of loan the rate of interest may be higher or lower. Name of the schemeApplicable interest rateIndividual Housing Loan9.10 % to 12.50 %. It thus is prudent to get in touch with any branch of GIC Home Loan for proper insight into the various interest rates applied. The maximum tenure of the loan available is based on your age at the time of application.
The loan amount has been sufficient and the interest rate with them has been nominal when compared with the market rate. Long back ago, i have taken the home loan from GIC Housing finance. Its because of the immediate process, i have selected this bank. I bought the loan amount of Rs. 2.5 lakhs and the documentation process was hassle free. I have already close the loan 5 years before and they have given me a NOC letter also.
GIC Housing Finance Home Loans Interest Rates Updated on 14 Dec 2022
I visited to the branch twice, remaining the field executive came to my place and completed the process. The bank is giving 8.5% of interest here 9% hence slightly more but its good. I took the loan before 6 years they do have balance transfer, part payment and pre closure.
There is a rule of RBI bank on floating rate on home loan that is there are not allowed any kind of charges on payment or penalty. Although you are able to repay your home loan at Nil charges with our GIC Housing Finance. There are very differential rates for the women borrower form GIC Housing Finance and some of the times the rate of interest is fixed and sometimes it is floating rate of interest.
GIC Housing Finance Home Loan Detail
You can get a speedy hassle free mortgage loan with compatible interest rate. This feature helps you to understand the pathway to follow to pay your loan. Some insurance products are covered by state insurance guaranty associations. However, many of those associations do not extend their coverage to include GICs.
GIC Fixed Scheme allows applicants to draw a maximum loan amount of 50 Lakhs, against fixed rate of interest. As per this type of home loan, the rate of interest remains unchanged for the entire duration of the loan. It will not be affected by any fluctuation in the rate of interest in the market i.e. even if the rate of interest drops or rises. GIC's Step Up/Down schemes are unique for the flexible repayment options. Borrowers have the option to pay smaller amounts initially and proportionally larger amounts during the later part of the tenure of the loan or vice-versa.
Loan Details & Repayment track Sanction letter &Repayment statements of all the running cards & loans. The interest will be charged depending on the credit score of the applicant. The higher the score the lower will be the interest rate and vice versa. Part Pre-payment chargesNo charges will be collected if the loan is availed on a floating interest rate. Home Improvement loans are for repairs and renovations to the existing property. GIC Housing offers various types of home loans depending on the purpose and the segment of the customer.
The cost of the property should not exceed Rs. 35 lakhs in rural areas and Rs. 25 lakhs in urban areas. The annual income should not exceed Rs. 6 lakhs for rural areas and Rs. 3.00 lakhs for urban areas. For women beneficiaries, there is no limit on annual income in urban areas. There are affordable home loans for rural and urban populations.
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. Documents required for sanction of loanIncomeSalariedEmployment certificate from the employer as per Form 22Self EmployedITR of the last two years with computation. Your one-stop facility to seek assistance for a home loan application is Housing.com. Keeping their prime objective in focus, GIC Housing Finance Limited takes pride in the fact that they offer tailor-made home loan schemes. Their products in home loan solutions cover all possibilities of home ownership, making them one of the key players in the home loan market. In case your installments are to be deducted directly from your salary, you need a letter from your employer confirming this arrangement, and remitting the amount directly to us.
People of urban area can get maximum loan amount up to Rs 28 lakh. People of rural area can get maximum loan amount of Rs 20 lakh. All types of salaried, professional and business persons can apply for this home loan. Both existing and new customers can take advantage of this home loan.
GIC Housing Finance Home Loan Customer Care
A bullet GIC is type of guaranteed investment contract where both the principal and interest are returned to the payor at some date in the future. No, there is no federal insurance for guaranteed investment contracts, unlike certificates of deposit, many of which are covered by either the Federal Deposit Insurance Corporation or the National Credit Union Administration. In retirement plans, GICs typically appeal to risk-averse investors or those who want to balance out their portfolios by putting some of their money into a low-risk account. GICs are often offered to retirement plan participants as part of a stable value fund or similarly named conservative investment option.
Typically, you will be asked for Post Dated Cheques for a period of 12, 24 or 36 months depending on the amount of the loan sanctioned and the scheme. Eligibility, Documents List, Process, Procedure, Processing Fees, Loan amount & per month lowest emi options, Status, Application, MCLR Rates, Base Rates at emicalculator-india.com. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Investopedia does not include all offers available in the marketplace. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
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