GIC Housing Finance
GIC Housing Finance Ltd was incorporated as ‘GIC Grih Vitta Limited’ on 12th December 1989. The company is engaged in the housing finance business & it is a subsidiary of General Insurance Corporation of India. The Company's primary business is granting housing loans to individuals and to persons/entities engaged in construction of houses or flats for residential purposes. They operate in the retail loan segment. They provide loans to individuals and to persons/ entities engaged in construction of houses/ flats for residential purposes. The Company has approximately 75 branches as on 31 March 2019. The Company operates in India. It has tie-ups with builders to provide finance to individual borrowers.
GICHFL have got a strong marketing team which is further assisted by Sales Associates (SAs). The company also has tie-ups with corporates for various housing finance needs.GIC Housing Finance Ltd was incorporated on December 12 1989 with the name GIC Grih Vitta Ltd. The company was formed with the objective of entering in the field of direct lending to individuals and other corporates to accelerate the housing activities in India.
GICHFL was promoted by General Insurance Corporation of India and their erstwhile subsidiaries namely National Insurance Company Ltd The New India Assurance Company Ltd. The Oriental Insurance Company Ltd and United India Insurance Company Ltd together with erstwhile UTI ICICI IFCI HDFC and SBI all of them contributing to the initial share capital. HDFC SBI ICICI and SUUTI sold off their holding in the company and ceased to be the promoters of the company.
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