| Here are some of the highlights of home loans from GIC Housing
Finance. |
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| Maximum Amount |
Rs. 30 lakhs or 80% of the cost of the property, whichever
is less.
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| Rates Of Interest |
Upto Rs. 5 lakhs 13.5%
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Between Rs. 5 - 10 lakhs 14%
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Between Rs. 10 - 30 lakhs 15%
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| Other Charges |
A processing fee of 0.8% of the loan. Administrative fee of
1 %. |
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| Tenure Of The Loan |
The loan is repayable over a maximum period of
15 years, but will not usually extend beyond the age of retirement, or reaching
65 years, whichever is earlier |
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|
| Repayment Of Loan |
Repayment is on Equated Monthly Installments
depending on the amount and tenure of the loan. Interest is charged on a
annual reducing balance basis. No penalty is charged in the event of pre-payment
of loan.
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| Other Benefits |
All borrowers are given free accidental death
insurance cover to the extent of the outstanding loan |
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