Lake Gripdeild has an area of 0,21 km². Its greatest depth is 8 m and it is situated 561 m above sea level.
Its catchment area includes several brooks and river Viðidalsa, its discharge, meanders all the way to the glacial river Jokulsa a Bru. The lake is accessible by 4wd vehicles. The catch consists of the finest lake char.
The distance from the capital is about 627 km by the Whale Bay tunnel and a little more than 100 km from Egilsstadir.