GIC Housing Finance Complaints & Reviews

Customer id[protected]
Respected sir,
This to bring to your attention that mr. Vijay ramesh, branch manager of mg road, bangalore and his staff is involved in all corrupt ways of dealing with the home loan customers by joining their hands with buiders, one of my findings are wrt above customer id, home loan was sanctioned for 67 lacs approx (In april 2017) but later i noticed there was no proper protocol followed by bank officials in verifying the documents submitted by builder related to property and based on the legal advice obtained from external agent i requested to cancel home loan (Within one month) for which there is no response from gic or concerned person till today and same was communicated over phone to branch manager. After failing to produce all the requested documents, recently builder made partial settlement of my down-payment amount (In sept, 2017) and for rest stated he has cleared my preemis without my consent and on contacting branch manager he states he has charged for 4 preemis which is not true, in-fact i am responsible for one preemi but still based on the agreement, party breaching the clause is liable.

Questions: no response from branch manager for six months
No response for any of the e-mails sent
No action against buider, why?
On customer's request, failed to produce relevant documents by both the parties (Buider and branch manager)
Why home loan was closed without informing the applicant and co-applicant?
When cancellation of loan was sent within a month then why there are additional preemis got added?

Requet you to review thoroughly and i need your response immediately on this

Thanks,
V krishna

As per advice given mail trail, i had visited to your barakhamba road branch on dt.12th july 2017 and had duly submitted the cheque no. 998371 for an amount of rs.16, 287/- and had given the bank details from emi’s has been deducted for home loan no. Dl[protected] along with cancelled cheque no. 998372.

Till date i have not seen the deduction made for august 2017 emi in my bank account. Request you to kindly share the details of deduction of emi from my operative bank account and also request you to not deducted any penalty from my account as i had already submitted the requisite document with you on dt.12th july 2017.

On dated 5th september 2017 i have received a message from your end reproduced here in “sir/madam, your account no. Dl[protected], emi installment is due by 2 months, please arrange to pay at the earliest”.

Kindly acknowledge that bank details have been submitted before you on dated 12th july 2017, also as told by you in meeting between us that i will received acknowledgement message for updated bank account details despite that i have not received any message for updation of my account.

In addition to the above kindly also confirm that any penalty in respect to emi payment has been levied upon me. If yes kindly share the details.

Also i want to clearance on below message received on dt.25th august 2017 as below: -
“sir/madam, your nach mandate for hsg loan account customer id: dl[protected], submitted via delhi gicf is registered successfully”

Also team for your information, no body pick the call and mr. Muneshwer, designated as manager also not responding.

Now i am totally disappointed from end of gic.

I am very much pitched off with a terribly poor service from GIC, Bangalore (MG road) branch. Staffs there are highly unqualified with poor communication skills. Their phones are most of the time not reachable, if connected, staff does not have any details to assist, they are totally dependent on single person whose unavailability to answer is more than 100%. VP and senior manager of the branch never comes to office and listen to customer grievances. I have been trying to reduce my interest rate as per current market condition but unable to receive any response even after writing more than 20 emails in last couple of month. Escalated the matter to corporate office but no progress. Apart I am also unable to receive any response on PMAY subsidy. Can some one please help resolve my issue.

Write to me for more details - [protected]@gmail.com

Hello,

My cust id.[protected]
Loan ac : ka[protected]
I have taken a housing loan. The problem is the agent did not give proper clarity on when they will present the cheque against processing fee.
As a customer i should know when i am supposed to pay.
Also without my confirmation and they prepared the cheque and collected interest amount of 6534 without my knowledge. Though i had told them to hold the cheque, they presented the cheque in the bank. I feel looted by gic as no proper communication/ clarifications given what going to happen next.
Now thw guy is claiming that he has got an email from me as per date to prepare cheque.
I have no email been sent from my side neither property builder. The agent is claiming fake things which i was never been informed.
Is this a way customer will be treated by gic. I am controlling not to use abusive words. But i am definitely going to demote all your products and approach people not to buy.

Surprised package is that the agent not even provided any clarification of loan amounts of interest and installment just they started deducting amount.

Requests you please advise
I am trying for customer care for contact for clarification but i saw website also not draft properly it seem like fake housing finance companies websites...

I am mr. S. Bala muthan, my customer id[protected] and my file no.[protected]. I took 8 lac rs. Home loan on floating rate from your bank, but my rate of interest is still same as previous and it is quite higher than today's market rate, my current rate of interest is 10.95%. So i want to reduce my rate of interest.
Previously i complaint this matter in consumer court on 31/08/2017, its docket no-411300.
Kindly take action on my complaint.
Thank you!

Dear team gic,

As per my cibil wrong loan account showing in cibil report where i am not taking loan from gic please remove this loan detail from my cibil as soon as possible detail as below

Name hitesh tiwari
Mobil no [protected]
Pan no agapt5745r
Wrong gic loan account no mh[protected]

Please resolve query

Regards
Hitesh tiwari
[protected]
[protected]

Dear sir/ madam,

I have given a request on reduction in rate of interest dated july 28, 2017 to pranita madam with my dcb banks postmaster letter dated february 16, 2017 interest rate of employee housing loan is 7.5%.
She has attached this letter with gic reduction in interest rate form and confirmed that with this letter your rate of interest will be reduced to 8.80%. With this i have given a processing fees of rs. 2, 500/- for the change in interest rate.
I was following with suresh sir also last month. He informed that it will be done by rebello madam.
Today dated august 9, 2017 when i have called gic spoke with rebello mam, she told me that she has not received my dcb bank letter and because of this the rate of interest is 9.93%. Hardly a difference of 0.32 % which is absolutely not done.
Today rebello mam is saying i have to again fill up gic reduction in interest rate form & with that processing fees of rs. 2, 500 which doesn't make any sense.
Please revert positively, otherwise i will approach nhb/ banking ombudsman.

Regards,

Vishwas bhosle
Home loan no. Mh[protected]
Mobile no.[protected]

I am a customer of gic housing finance for the last 3 years and i have paid my dues regularly but only two instalment are pending. Now when i asked the manager of gic housing finance ltd. Vadodara for the provisional certificate for ay 2017-18 he is refused to issue the same. I cannot understand what is the connection between my pending dues and the certificate which they have to provide as the income tax department instruction and rule. Because of not issuing the same my office has deducted tds of rs. 45000/- from my salary.

Secondly the rbi is reducing the interest rate and has reduced it upto 8.25% but here in gic they are looting the customers by charging interest of 14% and still increasing.

Pls refer below mail where i am follow up for my document since two months but not getting any revert by email or phone.

—

Regards,
Vishal chauda | manager - business solution
Desk phone: +[protected], mobile: +91 [protected]
E-mail: vishal. [protected]@dhflpramerica.com
Mailing: dhfl pramerica life insurance co. Ltd.
4th flr, building 9b, cyber city,
Dlf city phase-iii, gurgaon – 122002

From: delhi. [mailto:[protected]@gichfindia.com]
Sent: wednesday, june 21, 2017 11:38 am
To: vishal chauda
Subject: re: hr[protected]

Sir we have send a request to recall your papers its still not arrived will take another 4-5 working days

Thanks & regards

Gic housing finance ltd.
Ugf 10 a e kanchanjunga bldg.
18, barakhamba road
Connaught place,
New delhi 110001
Tel 23731669, 41522024, 23327548

On tue, jun 20, 2017 at 5:18 pm, vishal chauda wrote:
Hi team,

My loan is transferred from gic to india bulls. I applied for my doc one month back but till date no update received. Request you pls confirm status of my registry document.

I tried to call you multiple time on below no but unable to get any respond.

Tel 23731669, 41522024, 23327548


Regards,
Vishal chauda | deputy manager - business solution
Desk phone: +[protected], mobile: +91 [protected]
E-mail: vishal. [protected]@dhflpramerica.com
Mailing: dhfl pramerica life insurance co. Ltd.
4th flr, building 9b, cyber city,
Dlf city phase-iii, gurgaon – 122002

From: vishal chauda [mailto:vishal. [protected]@dhflpramerica.com]
Sent: tuesday, march 14, 2017 10:20 am
To: 'delhi.'
Subject: re: hr[protected]

Hi team,

Revert awaited…..

Regards,
Vishal chauda | deputy manager - business solution
Desk phone: +[protected], mobile: +91 [protected]
E-mail: vishal. [protected]@dhflpramerica.com
Mailing: dhfl pramerica life insurance co. Ltd.
4th flr, building 9b, cyber city,
Dlf city phase-iii, gurgaon – 122002

From: vishal chauda [mailto:vishal. [protected]@dhflpramerica.com]
Sent: saturday, february 18, 2017 11:15 am
To: 'delhi.'
Subject: hr[protected]

Hi,

Pls share list of document of mine loan.

Regards,
Vishal chauda | deputy manager - business solution

Just 4 days before gic given disbursement 70% of principal amount of property

But without informing they had deducted amount of rs 7220 from account

Surprised package is that 3rd person party not even provided any clarification of loan amounts of interest and installment just they started deducting amount. O ne more thing they had provided letter also of loan approval.

Requests you please advise
I am trying for customer care for contact for clarification but i saw website also not draft properly it seem like fake housing finance companies websites.

I am also having a loan with gic. Instead of decreasing the rate it is increasing without giving any notice to us. Very bad in giving service. They have not issued me provisional certificate due to which a huge amount of tds was deducted from my salary. No response or proper reply is given by the branch as well as headquarters office. Charging 14% interest.

I am availing housing loan from gic, gurgaon branch. My account no is. Dl[protected] the rate of interest is 10.75% in the account which is very high as compared to prevailing roi. Also when i reach the branch the requested to close my account, they have asked to deposited foreclosure charges of rs. 41, 000/- along with the outstanding. My sincere request is for the reversal of excess interest charged in the account. Also i have submitted the cheques and draft on 13/06/2017, today. The gic is charging me interest for 30/06/2017. It is therefore requested to reverse the excess interest and waive the foreclosure charges as i am unable to pay such huge amount. Also this is a malpractice to exploit borrower. If the bank charges so high interest and other charges, i will never availed any loan in future and also never suggest my fnds and relative to take loan from gic. My mobile number is [protected]. Hoping for favorable response from you.

I S B Mishra had taken a home loan under file number[protected] from Kolkata Zonal Office. At the time giving loan they offered me 10.50 % interest rate with the assurance that they will always be lower than the market. After two months they increased the interest rate by 12.50 percent where as others were charging not more than 10.05 %, I have requested and took my case to their senior authorities (Shri Raghottaman Area manager Kolkata )but there was no hearing. I requested a copy of Deed and a letter stating that they are holding my original DEED of mortgaged property. Even after pursuing more than a year they neither gave me copy of DEED and nor gave me letter of LOD ( that original deed is with GIC Housing Finance) and I could not apply for transfer of loan to other banks. We were in such a mental stress that we are helpless and forcefully paying high rate of interest(@12.5%) what they demanded. 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

I am having a Housing Loan with GIC Housing Fianance Ltd. for the last 4 years. I am a government servant. At first they promised that I will get a housing loan for transferring my housing loan from government recognised bank with less interest but later on they charged more that 13 percent which is also against the RBI guidelines. I required the provisional certificate for claiming IT rebate but the vadodara branch refused to issue the same and the reason was that I had not paid the dues for two months. Due to the same my office deducted TDS of more than 30 thousand from my salary. Is there any rule that the financing company can refuse to issue the provisional certificate for claiming Income Tax as per RBI rules. As per my knowledge it is mandatory to all financial institutions to issue a provisional certificate for the housing loan taken for claiming IT rebate but the staff at Vadodara Office of GIC Housing Finance were very rude and did not cooperate

Hello,

I have borrow loan from GIC Housing finance thane branch in year July 2012. Initially my rate of interest is 10.5% for six month thereafter it was 12.5% till date. RBI reduced it's repo rate couple of times but GIC never reduced single time. I have requested bank manager long back but nothing happened. Lot's of complaints on this forum regarding this higher rate of interest but not found any solution.
Please guide to get this resolved.

My Customer ID :[protected]
Loan Account Number: MH[protected]

Thanks

Actually in bangalore gram panchyat don't have rights to give permissions upto g+4. Remaining all banks are funding only g+3, all banks also not providing loans on 4th floor.in gic housing finance is funding only 4th floors, why are you funding only 4th floor in gic housing finance, this is legal or illegal?. Please verify with your legal department. Please suggest me

My self Mr. Abhiket Prakash Kasar I ha taken a home loan under file no. G08474.At the time giving loan they offered me 10.50 % interest rate with the assurance that they will always be lower than the market, but after few month they increased the interest rate by 11.50% and no any intimation. recently he charge 12.20%.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

Dear Sir
I have taken housing loan from GIC Housing Finance Ltd. Virar Branch in Sept. 2014. With interest rate 10.25 %. The interest rates are going down day by day. As on today your interest rates are 8.65%. Then why should I pay higher rates. Request you to look into this matter very seriously and do the needful at the earliest.

If you will offer me 8.65% interest rate then also I am ready to continue with you otherwise I will have to switch over the entire loan amount to other banks. I am already getting lowest interest rate offers from other banks, as low as 8.35%. So please suggest me why should I continue with GIC Housing finance.

If you have any nominal conversion charges, I am ready to pay it. You have kept 5 year lock in period, it is injustice with me.

My loan details are mentioned below for your ready reference.

CUSTOMER ID :[protected]
LOAN NO :MH[protected]
BORROWER NAME :RAJENDRA VINAYAK THAKUR
CO-BORROWER NAME :APARNA RAJENDRA THAKUR
LOAN AMOUNT GRANTED :1755000/-
LOAN PURPOSE :PURCHASE OF NEW PROPERTY FROM BUILDER
CURRENT RATE OF INTEREST :10.25%

Thanking you in anticipation and hopping for the favorable reply at the earliest.

Thanks & Regards

Rajendra Thakur
304, Yogeshwar, Gukul Nagar
Near Rice Mill, Kurgaon,
Dist - Palghar - 401502.
(m): [protected].

Im have a home loan with GIC housing Finance (Pune). The total amount was 1556000. This was effective 12/10/2012 with the interest rate of 11.25%. I have email sent from GIC stating detail on my loan which clearly state that its a floating ROI. However after baring the high interest I decided to transfer my loan with SBI. However GIC is now demanding 2% foreclosure fee of the outstanding balance of 1448000. this amount come to 29083 which is not acceptable as this was never disclose to me at the time the loan amount was disburse. I have personally visited the finance company however the respond was negative. I have also drop an email regard this issue to GIC. Request you to guide me to get this sorted and get a waiver on this foreclosure fee

Would like to bring the following for your kind notice:

1. In the year 2009-10 my home loan with HDFC was taken over by GIC for Rs 6.90 Lakhs (Principal 5 Lakhs plus top up of 1.90 Lakhs).
2. You may be observed from my account that I am making payment EMIs on time.

Now during July 2016 I wants to transfer my Home loan to Bank of India because you are charging 12.5% for my Home loan. Your branch has advised me to pay 0.5% of the outstanding and they will reduce the interest rate to 10.20% fixed for 5 Years. Accordingly I made payment and so far nothing has happened. When I personally visited your Chennai branch Office, they didn't take proper response and one of your officer Mr.Rajasekar behaved like funny. I informed your Branch Manager to take necessary steps for reduce of interest from 12.5% to 10.20% otherwise return my money. After two reminders by mail on 8/7/16 & 21/09/16 I am not getting any response and the attitude is worse than a Petty Shop also.

For your information during 2013 your Chennai Branch requested me to change to ECS which I obliged and wrongly they presented my earlier cheque after realisation of ECS for which so far they have not reversed the cheque return charges. Therefore I request you to kindly consider and reverse my cheque return charges.

Charging 12.5% interest for home loan is too high and you should consider reduction of interest.

Thanking you and I hope that you will do the needful at the earliest.