[Resolved]  Gic Housing Finance Ltd. — Cheating

We R. Gupta & D. Gupta had taken a home loan under file number G02972. At the time giving loan they offered me 9.25 % interest rate with the assurance that they will always be lower than the market. After two months they increased the interest rate by 11.75 percent where as others were charging not more than 1o.5 %, I have requested and took my case to their senior aurhorities but there was no hearing. We were in such a mental stress that we were just felt helpless and forcefuly paid what they demanded as one o[censored]s was without the job in between for few months, hence we could not transfer the loan to some other bank. We are trapped with the following company with the assurances that they will soon decrease the interest rate. Recently Govt. Of India has decreased the Bank Interest rate where as they are still charging the same.

I would like them to charge the interest rate as per the market but not more than the market and the govt. of India regulation. Following is the Name & address of the bank where my file is open:

Mr. Santosh Kumar
GIC HOUSING FINANCE LTD.
Noida Branch Office
B-104, Vishal Chambers,
Sector – 18,
Noida, UP
Tel: +[protected] / 2511751
Fax : +[protected]
Email : [protected]@gichfindia.com
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Aug 14, 2020
Complaint marked as Resolved 
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Going through all the above stories regarding the home loans cheating ...i would like to ask one question????? WHY ANY ONE NOT APPROACHED COURT OF LAW when you feel cheated and betrayed instead of blaming your self as helpless...I advice you people to drag these to court of law and justified your potential of showing the common man power...no can cheat a common man ...just like our PM's Narendra Modi "SWACH BHARTH CAMPAIGN" let us sweep all these rogues from our country to keep clean India...hope u all get justice... Jai Hind...
damomca's reply, Apr 18, 2017
But is there any guranty for one day jusitice, i thnk in india not possible

Home Loan - Kotak mahindra — Rate of Interest for the existing loan borrowers

I had taken a loan from Kotak Mahindra Bank the Rate of interest kept on increasing because of infationary pressures, but after the inflationary pressures have reversed and the economy is going through a rate revision the people have not even come back to the original rate of interst in which i had borrowed the loan and they are not even ready to reduce their EMI they are saying only the tenure would be revised and not the loan EMI, Please help this is a great injustice to the common man and middle level earning population.

power home — no information about interest rate and emi till date

dear all,
my home loan account is PH[protected]
CUSTOMER ID IS WITH ME, BUT TILL DATE NEITHER I HAVE BEEN INFORMED BY MAIL OR EMAIL FROM BANK DIRECTLY NOR THEY HAVE PROVIDED INFORMATION TO CHECK MY ACCOUNT .
NOW I NEED CERTIFICTE FOR INCOME TAX DEPT. MY INTREST AND MY EMI IN PREOPER FORMAT, NOBODY TAKES CARE .
PLEASE TELL ME TO WHOM I CONTACT AND ON WHICH PHONE NOS.
THANKS

VIKAS ATREJA
INCREASE IN LOAN INTEREST RATE WITHOUT INTIMATION.

Hii
I had took a home loan fm GIC HFL in the month of nov 06. At the time giving diwali offered me 9% floating rate. My EMI is started fm dec 06 only interst for 3 days 830/- and jan 07 to March the same interest. Then next month they increased the rate by 10.75%.(i.e fm april to may) and within two months (i.e fm june-07 they hv further increased it to 11.75% without intimating us.Now all banks are cut the interest rate, our great GIC Again increased rate of intrest fm oct 08 12.25 % without intimating us. Last week i called gic bank any change for r/intrest, he tolld we are also cut the rate. NOW 12% what a surpraise news. other banks are giving now 10% to 11.5%. this type of cheating fm this bank.
Even i have the same opinion. I took loan from GIC in Dec'08 at a intrest rate of 10.5%. Later they increased to 11.5% and now they are saying .. that they will reduce to 11%, but nothing is happened.
No response from them if i need to transfer.. i need a demand letter from them. Screwing happiness.
I, G. Kuppan, a borrower from GIC HFL too have the same complaint. I got a loan from GIC HFL Chennai. My complaint is that whenever the Floating rate interest goes up, the rates are hiked immediately. But when rates are reduced, the company does not initiate any action My Loan Now carries a interest rate of 11.75% whereas in the market it hovers around 10-11%. My loan No. is G05581
damomca's reply, Apr 18, 2017
is there any site from there i login in to my gic account., actually i get loan from 8.87 how i know my loan account no and also i dont have any email communication my builder want part payment without registry, is there any loss to me my builder told they give emi until possession, plz respose asap if you don't mind
I CA KAILASH CHAND SONI OF M/S R.KOTHARI & COMPANY, NEW B.K.MARKET, 16A-SHAKESPEARE SARANI, KOLKATA-700 071 ALSO LODGE COMPLAINT KOLKATA AREA OFFICE AND HEAD OFFICE MUMBAI ON 06.01.09 AND 30.01.2009 BUT NO REPLY RECEIVED FROM ANY OFFICE TILL DATE . THE DETAILS OF OUR CASE ARE BELOW WHERE I AM CHITTED BY REPUTED COMPANY I.E GIC HOUSING FINANCE COMPANY
====================================================

I have taken a Housing Loan from GIC in the month of Dec.2006 for Rs.8.10 lacs (file No.G05225) for the period of 20 years. As per the advise taken from Kolkata Office I had proceeded to reduce the tenure from 20 years to 10 years for getting the benefit of rate of interest reduced by 0.5% with the payment of processing and administrative fees of Rs.3, 000/- only but I found that the advise given by your Kolkata Office is not beneficial to me due to following reasons :

(1) Re-schedule of tenure from 20 years to 10 years has been accepted and offer letter/sanction letter given to me vide File No.G06034 dated 31st October, 2008 for Rs.7, 78, 082/- for a flexible rate of interest @ 11.75% p.a. and EMI per month given in the said letter is Rs.11, 052/- p.m. At the time of disbursement of loan the rate is given in the disbursement letter is 12.50% p.m. instead of 11.75% given in the sanctioned letter which is not communicated to me and confirmation taken from me regarding increase of interest rate applicable in the disbursement letter.

(2) As per my information there is no increase in the interest rate between the date of sanctioned letter 31st Oct, 2008 and date of disbursement letter dated 31st Dec.2008 in anywhere in India.

(3) At the time of disbursement of loan no intimation as well as confirmation was taken from me regarding increase of rate of interest from 11.75% as previously sanctioned and applicability rate is 12.05%.

(4) The processing and administrative fees applicable to me is only Rs.3, 000/- which was paid by me is Rs.10, 000/- on the followings dates


S.No. Date Cheque No. Name of the Bank Amount

Rs.
(1) 30-08-08 216095 Federal Bank Ltd., Shakespeare Sareni Branch, Kololtata 3, 000/-
(2) 12-11-08 601918 - Do - 2, 000/-
(3) 12-11-08 001129 - Do - 500/-
(4) 31-12-08 001134 - Do - 4, 500/-
=======
Total 10, 000/-

On the basis of above facts I am totally surprised that the services given by said organization are not upto the standard expected by the customers hence i am using the word of Chitting.
My complaint about GIC Housing Finance Limited is also the same if not more. I got a loan at floating rate. If the market rate goes up, they are the first to hike it. If the market rate goes down with the government announcing interest rate cuts, these buggers at GIC HFL say that their head office has not issued any circular. Further, all banks and Housing loan companies accept ECS for payment. These people who work in the good olden times accept only PDCs. If only we had known a little earlier, I would never have gone to them. They work like a Government office with people attending office only after 11.00 and any answer to our queries takes half an hour.
In an auction I Ashok Kumar, paid an amount of Rs. 10 lacs 60 thousand to you bank for the posession of the flat namely, Flat No. D, Plot No. 2A/118, Sector-2, vaishali, Ghaziabad, in the month of February.

At the time of submitting payment, concern branch manager Mr. Santosh Ji verbally assured me to make a registry of the flat on upcoming Monday, therefore that day I purchased Stamps Papers of Rs. 74400 for registry purpose, but nobody reached over there from the bank side, when I contacted to manager, he replied me that they are not able to come for the same today, and said they will inform me for the same later on.

After around 1 month they make a sale letter in favor of me when I insisted him, Now the bank are neither giving me possession nor registry.

It has been around 5 months, I make hundreds of call/Messages, many time meet physically to manager, many time I contacted your authorized Jaipur Manger Meera Vasudevan but nobody giving me any assurance in this concern, now I am very frustrated, anxious and depressed for not having the possession/registry.

Ashok Kumar
Vaishali, Ghaziabad, UP

Concern Bank :
Mr. Santosh Kumar
GIC HOUSING FINANCE LTD.
Noida Branch Office
B-104, Vishal Chambers,
Sector – 18,
Noida, UP
Tel: +[protected] / 2511751
Fax : +[protected]
Email : [protected]@gichfindia.com

TOP — Cheated About giving a Loan

I Mr.Mahesh Dontha had conversation of Loan ,I read the article in Mid-day Classifieds of 20th Novembers issue and his numbers are [protected] and [protected] and he said he stays at Navi Mumbai can i get his addressPlease He Took 6000 From Me and Now mobiles are unavailable and swithed off
It is an endless wait to get a sanction of housing loan from the GIC Housing. Surprisingly, even if it is found that certain documents are still needed they would not call you. It is always the customer to telephone them to know if anything more is needed. Surprisingly, at this age of cutting edge competition for housing loan, the feaudilistic approach still continues.
I fully agree as I know the Co. inside out. All the officials are corrupt and conceited, not customer friendly and it is a mess inside their offices with no document complete and securities pledged not to be found on maturity. Only politics played by the unqualified BMs and HO officials. Branches manned by erstwhile Tea Boys and Peons. Worthless management with ignorant homemakers ruling the roost in the HO and elsewhere. Disgusting to transact with the co. always flouting rules and regulations and promoting all unfair practices in and out. The so called Top Mgt lack any Mgt skills and down below much worse. God save the customers before the doomsday arrives.
At this time so many bank have been decrees them rate of interest as per RBI new rule hens why not reduce Gic home loan rate of interest still same as earlier
Pankaj Kumar Singh.
I have also same complain for GIC HFL.
I am Dr Nabin Sarkar, PhD, same thing happened with me. Initially they gave 10.5% floating interest and 0.5% insurance. Now after 5 months they increased interest 12.5%, net 13%. They are just cheated me. I don't know what RBI is doing with this bank.
Any media or any well wisher are there who can support us and fight against GIC ??
Dr Nabin Sarkar
[protected]@yahoo.co.in
We have seen many complaints against GIC HLF.

The concern authorities should take action on people who are not following rules set by the Govt.

Rates announced by the RBI & Govt should be applied from the date of announcement.

The authorities should instruct GIC to re-calculate the interest as per the interest rate announced from the date of announcement.

Once this is done deduct the equivalent amount from pending interest of the client.

There should be time line give to take this action.

I request if some expert, who understands this subject do some research and bring the findings to the media.


Naresh Gurav
Mumbai.
What is solution on happenng this, now GICHFL giving 10- 10.25 % to new customers as offer and after 6 months they will definately increase rate to them as reason of floating rate, what will be solution and where to we go.
If Any Person Wants to transfer his loan in HDFC Bank Or ICICI Bank. Contact Me [protected]/[protected] Or Mail Me at my ID [protected]@gmail.com
I also Having same problem so i contact with him and solved my problem.
My loan account : MH[protected]

Last year interest rate was 10.5%, From 01 Apr 2013 increased 2% more, that is 12.5%.

I am shocked to see this, when RBI trying to decrease the rate GICHFL are increasing so much.

Can some one tell me to whom should I complain ?

Ram Prakash
Mumbai
GIC Housing Finance is very lethargic in considering the revision of housing loan interests for the overall benefit of the customers. Currently state bank of India is charging 9.95% interest whereas GIC's current interest is 12.5%.
My loan for 25lakhs bears an EMI of 28671 for the tenure of 20years. File No. is G08975
As there is no proper response from EMI on my request to revise the interest rate, I have decided to go for loan transfer to SBI.
In addition, GIC insists for Kotak Mahindra insurance which deducted 1.3lakhs from the sanctioned loan amount - putting additional burden for the customers.

Government should immediate action and intervene to revise GIC housing loan interest

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