GIC Housing Finance Limited was established as 'GIC Grih Vitta Limited' on December 12, 1989 with the objective of granting housing loans to individuals and to persons/entities engaged in construction of houses/flats for residential purposes. GIC Housing Finance was promoted by the General Insurance Corporation of India along with financial institutions like UTI, ICICI, IFCI and HDFC.

GIC's Step Up/Down schemes are unique for the flexible repayment options. Borrowers have the option to pay smaller amounts (EMI) initially and proportionally larger amounts (EMI) during the later part of the tenure of the loan or vice-versa. Thus these schemes benefit both aspiring individuals moving up the career ladder and seasoned executives approaching their retirement age.

GIC home loans also provide the option of Flexi-Fixed rates of interest. avail of the option of having your loan requirement split up into two portions made up of one portion with a Floating rate of interest and the other with a Fixed rate of interest. The ratio of Floating to Fixed is purely dependent upon your convenience and desire, but care would be taken to round off the respective amounts to the next upper Rs.1000/-

GICHFL has presence in 23 locations across the country for business. It has got a strong marketing team, which is further assisted by Sales Associates(SAs). It has tie-ups with builders to provide finance to individual borrowers.