GIC Housing Finance Complaints & Reviews

Dear sir, i took a housing loan from gic housing finance on 2007 under reference g01006 and gave themail 2 lic bonds as security.

I closed said loan in 2014. I received all the documents except 1 lic bond which is misplaced by gic. I continiously doing follow up but shameless gic never give positive response. Kindly advise why should customer will support because of their negligence.

Im bjp wanted to inform u that ur company gic housing finance home loans is giving loan to a fraud person to sanjay ray his
Pan no. Agzpr9375e
A builder siddhivinayak developers is providing fault loan, building name laxmi keeerti, survey no. 113, old h. No. 10 (Part) b. P. Road no. 4, kharigaon, bhayander (E), district - thane. This building is till 4th floor having no permission, mira-bhayander muncipal corporation cc paper is bokes, seal stamp is bokes. Sir im sending u the original cc paper, in both cc paper cc no. Is same but developers are different. Mira-bhayander muncipal corporation had not given permission to this building. By doing registration through ur branch they providing fault laon to owners. Laxmi keerti bldg., 3-4 times had been broken by nagarpalika and the building is stable in stay order i[censored] want to check by the survey no. U can check this in mira-bhayander muncipal corporation. I got this information from rti in nagarpalika that this building has no permission. Please sir i want to awaken that by this way ur company staff and builder both are cheating to people. Im a sincear citizen want to stop this all with help of yours. Sir i cant give u my contact because when i wanted to contact in virar branch my contact was pass on to builder so im very scared because i can be in danger please sir this is request to u do not issue my name.

We had taken home loan of Rs. 56, 00, 000/- from GICHFL vide Customer ID.[protected]; Loan Account No. AP[protected] in the month of MAY 2014. We are paying the EMIs without any delay and default. We transferred our loan to other bank after paying outstanding amount inclusive of pre-closure charges.
As we understood from the loan document, my loan interest rate is floating type and Pre closure charges shall not be applicable as per tariff-schedule and also as per NHB. We have not found the word “FIXED Interest” rate anywhere in my confirmation letter as well as in online quarterly statements, everywhere it is shown that the interest rate type “FLOATING”.
Hence, we requested for refund of pre-closure charges.

GIC is the worst company to have any kind of loans, they keep on harassing their customers if there is any payments pending.. i am call the GIC virar branch.. let me tell you this is the worst place on earth and people working here are curse to humanity and don't know to talk to their customers, very very indiscipline creature.. i want my loan statement for tax purpose.. but when i called the person received the call says do what ever you can we will not issue the statement until the balance is not cleared.. i requested him to issue me the statement with pending details. and he given bad words on mother, sister and says if you the statement you have to make the payment first than only any request can to processed.. my loan ac is : MH[protected]. Please help me to get the statement to understand the payments done till date and the pending amount to do the needful and may be close the loan also i one go..
please help and take necessary action on the people working in GIC housing finance specially in finance and recovery department.

regards,
Ashutosh.

I am Businessman (sunil sharma) GIC also cheated to me . gic is charging interest rate on my housing loan at rs.12.75%. as per RBI Rule 5% have decreased . but gic is not following rule of rbi they have told me we are not follow rbi rule . now i have decided to shift another bank they are charging penality on balancing amount by 2%. my loan no. in gic is MH[protected] i have taken loan in yaer 2014. gic virar west shree sidhi manora BLDG MY EMAIL ID: sharma.[protected]@yahoo.com [protected]@gmail.com

Rameshwar Vyevhare

Customer ID :[protected]
Pimpri Chinchwad Branch

I had applied request to lower my interest rate and also paid amount 9300 rs for the same. Now taking follow up since 1 and half month now they are saying you have taken loan at fixed interest but I remember that have taken it on floating rate and also have proof document sent by GIC offer letter and statement all reflect the floating rate.

Please find attached document as proof which is screen shot of recent statement received from GIC.

Aishwarya one of the GIC employee clearly accepted my that my loan is floating and bank has some technical issue but she has to left job meanwhile then case was not resolve, .

Regards,
Rameshwar

After Paying Interest Branch has not Reimbursed the Loan Amount I am Very dis-appointed with the service of GIC Home Finance- Vadodara Branch. After Paying 1 month advance interest after Loan approval, Branch has not given me a Reimbursement cheque of loan amount since 2 months. Branch Manager Mr.R.Lalit and Mr.Mukesh Savita are continuously threatening me not to issue the cheque without paying Interest of Month of October. And Mentally harassing to cancelling the Loan and destroy the Cheque. All due to their Personal Interest and Benefit. Currently the situation is I have to Pay Installment amount ot the previous bank from where I had transferred my Loan to GIC as well as the installment and interest to GIC for which I am not capable financially. I need support and requesting Corporate office tto but not getting support form last 3-4 days.The Concern ID to Whom I have contacted is ;, My Contact Detail is : Narsinh Makwana Email : narsinh.[protected]@rediffmail.com

To Whom It May Concern, I have taken a home loan from GIC and having a very bad experience that two installments deducted this month one by check and one through ECS and getting no response from your gurgaon branch..very irresponsible behavior they have shown. Please do the needful if anybody can resolve my issue. my customer id in GIC is UP[protected].

My name is Rajesh kumar and i have taken loan amount of 8.13 Lac from GIC housing in the month of July/Aug 2011 with 9.9% ROI and it's also mentioned on my offer latter and that time branch manager committed to me the same ROI will be till July/Aug 2013 and insurance will be free for 20 years. But now GIC is charging 12.5% and also charging insurance from my EMI amounts every months. I just wanted to know if other Bank Rate of Interest (ROI) is 10.5 % max but why GIC is charging 12.5% to me? Please look into this and down the ROI so, that i can continue to pay the EMI on time. GIC File No.- G06700

Sir, I taken home loan from GIC Housing Finance P. Ltd .at kolkata branch Royal Insurance Building of Rs. 450000/- and 350000/- My loan A/C No; Loan Account No.G05754 & and G06932. First: Complain against the Rate of Interest which is much higher from the RBI Rules.Second : Against the employee scam . In Fin. year 2012-13 when i took statement i found that there is No.s of EMI default against my loans file which is mention above i ask about the matter they charge me i did not deposit my EMI amount, then i am showing my money receipt those are given to me by the one of the employee Amitava Addya then they assure me they will return my EMI amount to the loan A/c. but still this is year I look loan statement found the same above condition NO EFFECT is given to my loan account. If you want to see the money receipt I will send it which is already deposit to GIC Kolkata Branch along with a Complain letter. In this circumstance, I would like to draw your attention regarding this matter and resolve the matter without any legal hazards. Amit Roy [protected] [protected]@gmail.com

I HAVE BEEN APPROVED LOAN FROM M/S. IDBI BANK AND HAVE BEEN CALLED FOR CERTAIN DOCUMENTS FROM THE EXISTING LENDER (GIC HOUSING FINANCE LTD). BASED ON WHICH I HAVE GIVEN LETTER TO GIC HOUSING FINANCE TO PROVIDE THE DOCUMENTS WHICH WAS ACKNOWLEDGED BY THEM ON 27/11/2014. SINCE THEN I AM FOLLOWING WITH THEM AND THEY HAVE NOT PROVIDED ANY DETAILS. THEY ARE INFORMING THAT THE OFFICE IS UNDER SHIFTING AND THEY MAY NOT BE ABLE TO PROVIDE ANY DETAILS AS THEIR SYSTEMS HAVE NOT STARTED FUNCTIONING. THE SHIFTING IS VIEW TO THE INTEREST RATE. EARLIER ALSO SAME LETTER WAS GIVEN WHICH NEITHER THEY HAVE ACKNOWLEDGED NOR I RECEIVED ANY REPLY. KINDLY SUGGEST AND HELP ME TO SORT OUT THE ISSUE, AS I IDBI SANCTION LETTER WAS DATED ON 26/11/2014 AND THEY HAVE GIVEN 15 DAYS NOTICE TO SUBMIT THE NECESSARY DOCUMENTS. MY LOAN FILE NO. IS MH[protected] AND CUSTOMER ID IS[protected] SIVAKUMAR A.B.

Respected sir,

With supreme respect, I, Piyali Mukherjee, would like to intrude upon your valuable time to state the following few lines for your appropriate justice.

That, I joined M/s. Geeta Ganesh Promoters Ltd., Trust House, 5th floor, Kolkata – 700012 on 10th June, 2010 as Marketing Officer under probationary period for 4 (Four) months. During my tenure, I worked with the organization very diligently and honestly. But, after transition of 4 (four) months, they have not issued any confirmation letter to the undersigned and allowed me to continue tendering my services till 31st December, 2010.

Getting scared of the uncertain future, I tried to switch another organization M/s. GIC Housing Finance Ltd., 5, Netaji Subhas Road, Kolkata – 700001 and vide their appointment letter No. GICHF:COR;PER:2010, dated 13th December, 2010 they have confirmed me as Junior Executive and instructed me to join their N. S. Road Branch, Kolkata from 1st January, 2011. There was a Service Agreement (Bond) entered into between the undersigned & GIC.

After getting my appointment letter from M/s. GIC Housing Finance Ltd., I have tendered my resignation from the service of the company to M/s. Geeta Ganesh Promoters Ltd. on 15th December, 2010 and subsequently released by them.

With a great expectation, I joined M/s. GIC Housing Finance Ltd. and resumed my work from 1st January, 2011. Before jointing GIC authority have verbally advised me to submit few documents and the same was complied with under a cover letter dated 01.01.2011, well received by them on the same day. Also a medical examination held at my expenses and have submitted the medical certificate with them.

After completing all the formalities required by them, I reported to Mr. Kaushik Basu, Area Manager, GIC Housing Finance Ltd. and they have allotted me a desk, stationeries, drawers with certain responsibilities. All these were running smoothly till that time. I started interaction with few well-known companies like Ideal Group, M/s. Amit International etc. and happily executing my work.

But, I was not that fortunate enough; unexpectedly asked for release letter from my previous employer M/s, Geeta Ganesh Promoters Ltd. and while approaching M/s. Geeta Ganesh Promoters Ltd., they denied to give me the release letter and screamed badly in front of all the staff members, although I have submitted all the required documents to GIC before my joining. Therefore, it was an afterthought.

All of a sudden on 11th January, 2011 the GIC authority verbally communicated me not to report on duty from 12th January, 2011 and unilaterally destroyed the attendance register signed by me. Till today the GIC authority have not issued any letter whatsoever, giving reasons for termination. While approaching to the GIC authority with a request to retain the undersigned, I was told to appear before them on 17th January, 2001 and after that I visited GIC office almost regularly and begging for justice. But, every time, they tried to drop the issue in one pretext or another and finally, sometime in mid-January, 2011 the HR Head of GIC alongwith other staffs insolently abused me with filthy languages and threatened me of dire consequences. Also I have not received any compensation whatsoever from them till today.

Afterwards, I have made written communication to the Chairman, GIC Housing Finance Ltd., Mumbai with a copy to the all concerned for redressal, but the same is still not attended.

After a long time it was came to my knowledge that Mr. Rajiv Dey, Vice President of M/s. GIC Housing Finance Ltd. have recently entered into a personal deal with Mr. Gopal Prasad, owner of M/s. Geeta Ganesh Promoters Ltd. towards purchasing a residential flat. Therefore, it is needless to mention that I was terminated (verbally !!!) only to maintain personal relationship between two Senior Executives.

Sir, now I am completely unemployed, struggling with my family and unable to meet our day to day expenses.

My questions are :

1) Can any organization of their repute, may call someone for interview, appoint her with valid appointment letter and unilaterally terminate her verbally without assigning any reason ??

2) From where they got the authority to abuse a lady employee with filthy language and threatened of dire consequences ??

3) Have they got the authority to play foul & unhealthy game with the future of a lady employee just to obey the personal relation between two senior executives.

4) What would be my future now ?? Who will compensate for the harassment I am facing only due to such unhealthy practice of my employers ?? Who will take me out from such tongue-tied situation ??

Your honour, I am under tremendous financial hardship & mental disarray and unable to manage basic needs of my family. Finding no other alternatives, I am approaching to you with a folded hand to intervene and investigate this matter and give me appropriate JUSTICE.

Sir, if you desire, I can submit all the relevant documents including the proof for personal relation with the two senior executives.

I remain, in great anticipation.

Yours faithfully,

Piyali Mukherjee,
KB – 10/8 Sector II,
Near Sai Gate,
Salt Lake City,
Kolkata – 700 098
Mobile No. [protected]
[protected]@yahoo.com

Dear Sir,

I would like to bring this to your notice that your staff has harassed me to the core in the last 2and a half months. My understanding of GIC service was so good that I promoted it to my friends and colleagues when I first borrowed a loan of 90K in 1996 File 1592/1925 G00973. However, I am very concerned with the level of service that GIC has to offer now to its customers, despite of continuous follow up, I am being given false promises for the last six weeks that the payment would be disbursed.

I cannot express this in writing what I have gone through since I applied for this loan. You staff certainly do not understand the fair practice code to its customers, there is absolutely no communication of what documents are required, every time a new piece of document is requested which holds up the disbursement. I was given wrong guidance by your Vinayak Joshi, initially the offer of 7.95% was not communicated clearly that it would include KLI (Kotak Life insurance), when the cheque was done there was a confusion that KLI would be disbursed part of the loan amount. I had asked for a loan of 26lacs initially for the new property (Vijay Vatika) and I also had a renovation loan for 5lacs for my existing property these was approved. In my discussion with Vinayak he suggested that if you go for 25 lacs this would done in one week's time this was mentioned to me in the first week of October 2009. I agreed to this, later on when the chq was about to be disbursed the KLI factor cropped up and he now advised that you take KLI and we will give you 6 lacs on your renovation.

I did not agree to this proposal as I already had myself covered for 25 lacs from my company. This further delayed as it was sent back for correction, I had further asked that I would like to avail the 9.45% fixed for 2 years I was suggested that floated is good as the rate of interest is likely to remain same. I do not understand why they do not act what the customer wants. The branch incharge Sanjay Koppikar told that the sanction for my renovation is done and that I would get the loan for 4.5lacs, now he is saying that it is put on hold, further he states that loan (Alwyn) for File 9284 will be done first then we will see the other, . I just dont understand why this all cant be done together, what is the relation between these two files and in a day can only one disbursement take place. When Sanjay was on leave he told that Vinayak is following up and will do the needful if I have to call and ask the status I get the same answer that he will call be back and advise which does not happen and my calls do not get answered I am at a loss to understand how GIC functions, the other reason quoted is that the sanction authorities are on leave and hence this could not be done. In the last 70 days this has be going on and on without any conclusion. To my knowledge I don't think any of the Institutions / Banks would have taken this amount of days as mentioned, and in fact GIC could have very well rejectecd the file if they were not in the position to sanction the Loan so that I could have much more time to go to another Institutions / Banks. Now I have already landed up paying Interest on the delayed loan amount @ 18% p.a.

I would like to seek the advise or how do we go about with this matter and get this soughted out with good results so that in future another salaried person like me should not be harassed.

Regards

Macquine Sumantha
+91 [protected]

i am the lone holder of GIC housing finance ltd.(NEW PANVEL)MUMBAI.FILE NO 1840.morgeg LIC my policy[protected],which is matured in march 2009,but yet i am not recived my matured money,the staff of GIC is give proper answer and every time ask to go an another staff person or LIC office santacruz.
all are just lauging and chek there file,no has to willing to solve my problem.
i am so much frusterted from the staff of GIC.
PLS DO THE NEEDFULL................

I CA Kailash Chandra Soni taken housing loan from GIC Housing Finance Limited but I found commitment/advice given by representative of company at the time of disbursement not correct in my case The details given below where I am chitted by GIC Hosing Finance Company Limited

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 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 12.50%.

(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 basis of above facts I am totally surprised that the services given by this organization are not upto the standard expected by the customers.

KAILASH CHAND SONI
R.KOTHARI & COMPANY
NEW B.K.MARKET,
16A-SHAKESPEARE SARANI,
KOLKATA-700 071

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