GIC Housing Finance – Interest Rates 2024, EMI Eligibility Calculator

GIC Housing Finance Ltd offers home loan schemes with lowest interest rates. Calculate loan EMI & Eligibility with Calculator. Details on Interest Rates, Documents, Fees & charges & Get Instant Quotes online.
Eligibility:

The loan eligibility is based on two different calculations

1. The amount of loan repayment that you can afford to make every month.
2. A percentage of the cost of the property.

GIC Housing Finance Interest Rates

Tenure

The maximum tenure of the home loan available is based on your age at the time of application. The age should not exceed 58 years / 60 years (as retirement may be defined at your firm) for salaried employees and not exceed 65 years for self employed professionals.

Keeping this in mind, taking the maximum possible tenure will ensure the maximum amount eligibility.

EMI Calculator tool, which will help you get an approximate figure for your monthly repayment options.

TAX BENEFITS

• UNDER INCOME TAX ACT 1961
• WEALTH TAX ACT, 1957
• TAX IMPLICATIONS – If the property on which deduction claimed under section 80C is transferred by the assessee before the expiry of 5 years from the end of financial year in which possession of such property is obtained by him, then no deduction shall be allowed in the year of transfer and the deduction already allowed shall be added to the income of the assessee in the year of transfer and taxed accordingly.

Documents Checklist for GIC Housing Finance Ltd.

INCOME – Documents
A) For Salaried Individual/s :
1. Employment Verification Form/Details as per form duly certified by
employer/s. Form-F-22.
B) For Self-Employed Individual/s :
1. Copies of last two years Income Tax Returns, Computation of Income
Statements, P&L A/Cs, Balance Sheets duly certified/original may required to
be produced for verification.
2. Business Profile.

General Documents – As required by Credit Assessor.
1. Copy of Annual Income Statement or Form No.16 as specified under Income Tax Act, of
the preceding financial year.
2. Copy of salary slip/s. – Latest 3 months.
3. Bankers Opinion, Form No. F-23 & F-24.
4. Copy of Bank Pass Book/Statement.
5. Copy of Credit Card Statement/s.
6. Resume/Bio-data giving past employment details.
7. Copies of Evidences on Qualifications.
8. Copy of Ration Card/Passport/Pan Card/Voter Card/Telephone Bill or any other
acceptable identification proof.
9. Guarantor/s proof of income with latest Salary Slip / Photo / I-Card Copy / Ration Card
Copy.
10. Details of family members, residing with Applicant / Co-applicant with their name,
age, relation, status, dependency etc.