GIC Housing Finance Complaints & Reviews

We have sent 40+ emails to GIC, corporate office, even their CEO, but we haven't received any clarification on what basis GIC disbursed/sanctioned loan on ready possession flat without checking/having Occupancy certificate of the property.

I have seen many complaints on online portals and even read in news paper that GIC disbursed loan on illegal construction property without checking documents.

Even GIC employee disclosed, there is a nexus between GIC and builder to provide loan on illegal construction prima facie seems to be true.

After reading news on newspapers and online portals of fraud in GIC.
I have no doubt that there might have been violation of rules to provide loan on illegal property.

I have never seen such a pathetic, poor and worst customer service in the world. If anyone facing the same issue then I am requesting all the GIC loan customers to come together and unite. Please send me your concern on my email ID [protected]@gmail.com

So that we can unite and take appropriate action against GIC for wrong doings and bad practices.

previewtom(at)gmail.com send your gic related complaint here

Dear ALL,

I had purchase flat/apartment at Neral in 2015, under scheme of 2015/- (booking Amount) & rest in form of loan by GIC Finance almost 90% of the amount has been paid to M/s. Shree Mahalaxmi Developers. The possession was promised in December 2016.

I have visited the office as well as construction site and pursuing progress of our allotted flats. I regret to say that it has been observed that no construction has been taken place on the said location, it was same as shown at the time of booking. I have never been able to understand /know the actual state of construction.

I have received a letter from GIC requesting to pay Pre EMI which suppose to pay by Builder, due to failure of M/s. Shree Mahalaxmi Developers, bank is insisting me to pay the same which is not possible.

I have been receiving such massages from GIC Finance stating
"Pre EMI Installment is due by 4 months please arrange to pay at the earliest". As per agreement builder is supposed to pay PRE EMI. Because of his failure my cibil score has been destroy and now i am into defaulter list.

I have sent a letter to GIC Thane Branch Manager on 19/03/2019 through Indian Post. I have received reply after 5 months that meaningless. I have asked GIC on what basis they have disburse 90% of amount to builder without any construction.

GIC & Builder both are equally responsible for such fraudulent act.

Dear Sir, I have availed loan from GIC. At the time of sanctioning loan they have told you are eligible for PMY subsidy. They have sanctioned loan after scrutiny of all the documents related to building.
I have submitted all the documents for PMY subsidy firstly they have not submitted my application and told me you have not given documents.
After some days they are saying your building is not approved whereas in the same building some person have already received subsidy.
Customer ID :[protected]
Sailendra K Jha

Dear Sir.
I Mohd Wasim Ak my loan A/c. No.UP[protected].

I have taken a home loan of Rs. 26, 49, 000. in GIC HOUSE FINANCE account number: UP[protected]. I took this loan 2016,
4.8 year for the purchase of my new house and have been paying all instalments at the specified dates.

I would also like to mention that Recently, I have been getting offers from other banks for transfer of my current home loan at a lower rate of interest. I found that other reputable banks are also giving home loans at a lower rate of interest in comparison to your bank.

I want you to consider reduction in rate of interest of my current home loan if I must continue my home loan with your bank. The current rate of interest that I am paying is 10.75% while the other banks are offering at 8.45% rate of interest. The difference is huge for an amount as big as the one I have to pay on.
I shall appreciate if you could reach upon a conclusion soon and respond to my statement.

Thanks and Regards.
Mohd Wasim Akram
Mb.[protected]
Place. Lucknow
Loan Account No.UP[protected]

Dear Sir/ Madam,

My name is Bajinder Singh. I had applied for a home loan from GIC Housing Finance Ltd. bank Pitampura. But my loan was not approved. So reply to me on email for loan rejection. I gave three cheques to the bank while applying for a home loan.

1. Processing Fees - 3540/-
2. Legal Charges - 3150/-
3. Valuation Charges - 5000/-

My Home Loan File application no. - 794570

GIC Bank Pitam pura Branch no - [protected]

Please send me confirmation immediately.

thank you for your prompt attention to this matter.

Bajinder Singh | +[protected]

My father purchased GIC Balanced fund 200 units on 1/02/1993. 100units purchased each and the Certificate no. 00286471 & 00286472. I want to redeem the units now and I am unable to contact the fund house. There is no direct contact with the concerned department. Please help me to redeem the same asap.
My contact no is [protected].

Hi I have sent mail to GIC Hyderabad branch to get my existing loan tracker details of my account.

I am trying to reach out the Hyderabad GIC office teams with all the numbers provided on the official webpage but no response at all.

Please help me with my details.

Thank you!

Dear sir
I am new customer in GIC HOUSING finance ltd and i am not satisfied by your bank service because Till date i have not received the correct information about my loan .I hope the bank will contact me and give the correct information. My contact no. is [protected]

Cust id[protected].

I have not been informed about subsidy status even afted year, they are not responsive on branch as well as on email. Customer service also unable to help. Frustating and worst services. I was told it will be credited within 3-4 months at the time of llan applocation. They are frauds in this case. They might be already received pmay subsidy but not crediting in loan account in sake of interest. Please help!!!

GIC Housing Finance Ltd. is charging interest on home loan at a very high rate. I had taken home loan from GIC Housing Finance in 2016, Loan .A/c . No.[protected] and have written to them many times either to reduce the interest rate or to communicate the process and charges for Home loan balance transfer but they are totally unresponsive. Their contact number is also no more in existence and their address also got changed. Even at their Mumbai H.O no one is taking calls. Such unprofessional behaviour from GIC is really disappointing. I need them to respond to my emails forthwith alongwith their working contact number details.

I wish to change my loan to another bank. I contact the noida branch they people denined for lod and advised me to go gurgaon. This is so far from me. So please send me as email my lod

As per recent guidelines issued by rbi the particular bank is not considering and rudely behaving and approaching in third category to senior citizen and pressurising to clear up the outstanding for residential home loan several times we have request and presented but the company is reply very rudely and approaching out of the banking code of conduct and rbi guidelines
Request to the great controlling authority of all the banks and financial institutes to take the actions against the particular banking corporate
The letter received from the particular finance company is enclosed herewith

Gic housing finance has been consistently charging interest rate on housing loan which is way higher than average and never shared the loan summary without follow up multiple times.

Hi sir-
I am chandra and i took a loan from branch yelhanka, bangalore branch.
I am nri. I bought two sites right next to each other in sathanuru (Panchayat sites) i took composite loan for two individual sites. But, these two sites are join sites. I started construction together by joint sites as a single venture. Now agent is saying i not suppose to construct together as a single venture as i have two independent loans. I am in usa right now. Agent is saying, its not possible to sanction money as i construing two sites together, where as i have two independent loans for two individual sites. Is it possible to have some help as i am in usa.

Dear sir/madam,

My name is chandan kumar patro, i have taken home loan from gic housing finance ltd., gurgaon haryana. July-2019 and applied for pradhan mantri awaz yojna subsidy.

But till now i did not receive subsidy amount in my home loan account when i contact to my gichfl regarding the status of subsidy they said we submitted your document when we get the amount we will add into your account. When i try to find status on official site it says no data found.
If they applied then just to know the assignment i’d /status of the same
I have followed up with the gichfl but they not responding properly.

Kindly do needful. My details are under:-

Name: chandan kumar patro
Bank: gic housing finance ltd., gurgaon haryana
Loan amount: 14, 85, 775.00/-
Coustmer i’d:[protected]
Form no :- 187950
Contact no : [protected]

Kindly confirm when should i get the same.

Regards,
Chandan kumar patro

While all housing loan providers are issuing loan to buy housing property with rera registration as mandatory, is gic an exception to these instructions to provide upfront loan without an sort of work started and without rera registration. Does gic release loan without any specific milestone of work. My builder hasn't provided any agreement till date but gic has come up to provide loan within 2 weeks, where as the housing layout doesn't even show any roads leave about houses

I was trying to buy flat & found that it is illegaly constructed. only two floors were sectioned by town planning, but it was built upto 4 floors. i had given downpayment.but, the owner is not returning back.
I would like bring to notice that, GIC had given loan to such property. I Request GIC to verify the loan given to following person using false documents.
Does GIC provides loan to flat without town planning permission?

Dear sir / madam,
I have complaint against the fraud of property at virar east kargil nagar whers is i buy 1 bhk flat in sai samarth complex. This was buy 3year ago but property indeed inlegal after 1 year and fraud has made by builder and banker (Rohan gajmal - builder and gic housing bank).

I came to this for your notice for jurisdiction. Kindly help me to out from this bad condition.

Thanking you,
Nilesh bhikaji hasolkar
Mobileno.[protected]

Hi

I applied loan in kengeri branch (Bangalore) office last nov 2019 1st week, they have generated cibil and score was good, but there is no call or process from the team, when ever the i use to call they were not picking the call and lady called me after 1 month to ask about few details which was given at the time of documents. Still i provided all the details, and later on there is no response for the team.

My documents are good and perfect, still i do know why these employees are very lazy to attend customer calls and to followup with customers, i have not seen this type of worst and lethargy people across in my tenure. My request to md or director to change the people or change the process in the system. Later i got a call and said you case has been rejected due to no reasons, this is the way you treat the customer and doing the business.

Its my fault i came to gic company for loan purpose, hope you will take corrective action on your process and system.
In competitive world we need to be more proactive and immediate action on business. Its all my opinion on your team and process. Kindly rectify or your company will vanish with in no time in competitive world.

Hi team,
My name is ernyu yin, e-mail id is [protected]@gmail.com, customer id is[protected], i want to pre closure of my loan, gic team didnot replay on my e-mail regarding balance of payment, please help me out, i called to many times but no body pick the call,
Please do the needful. Thanks a lot
Please provide loan closure document, tell me the amount of balance, i will make the whole payment and help to close my loan amount, nothing replay form the finance team