Credit cards have become a basic necessity for many individuals in India. It acts as a lender of the last resort when you fall short of funds whether it is due to any emergency or delayed salary. So, if you are looking for a credit card with luxurious benefits and offers then you are at the right place. Here is the LIC Signature Credit Card that has a lot of benefits. You can earn thousands of reward points through this credit card and it gives you insurance covers for various types of losses. You can even enjoy free access to the airport lounges through this credit card and save some bucks on fuel expenses as well. Let’s move on to the features and benefits of this LIC credit card.
Features and Benefits of Signature Credit Card
This credit card gives you the option to earn reward points and you can redeem them against various brands. On the other hand, you can enjoy insurance privileges and free access to the airport lounges.
Earn Reward Points
- Earn 2 reward points per INR 100 on making LIC Premium payments and doing international transactions.
- Enjoy 1 Reward Point per INR 100 on all the categories.
- No reward points will be earned on fuel, wallet recharge, and EMI transactions.
Redeem LIC Credit Card Reward Points
You can redeem the reward points earned from LIC Credit Card on the following:-
- Redeem Points for Axis Bank Gift Card worth INR 1000, INR 2500, and INR 5000.
- Buy Amazon Pay E-Gift Card worth INR 1000, INR 2000, and INR 5000.
- Buy Big Bazaar E-Voucher worth INR 2000 and INR 5000.
- Redeem Points for Flipkart E-Voucher worth INR 2000 and INR 5000.
- Buy Shoppers Stop E-Voucher worth INR 2000 and INR 5000.
- Buy MakeMyTrip E-Voucher worth INR 2000.
Have Insurance Cover
- Have a lost card liability cover up to the credit limit.
- A Personal Accident Cover of INR 5 Lakhs.
- Get an Air Accidental Insurance of INR 1 Crore.
Enjoy Complimentary Lounge Access
- Get 8 free airport lounge access through the LIC Signature Credit Card in a year.
- You are allowed to take a maximum of 2 complimentary access per quarter.
Fuel Surcharge Waiver
- Enjoy a fuel surcharge waiver of 1% at the refilling stations across India.
- You can earn a maximum waiver of INR 400 per month.
- Your transaction amount for the waiver must be between INR 400 to INR 4000.
Convert Transactions into EMIs
- A transaction of INR 2500 or above is convertible into EMIs through this Credit Card.
- You can choose the repayment tenure for 3 months, 6 months, 12 months, and 24 months.
- A processing fee of INR 150 or 1.5% of the transaction amount (whichever is higher) will be charged for EMI transactions.
LIC Signature Credit Card Fees, Documents, and Eligibility Criteria
Here you must explore the fees and other charges of the Signature credit card. Before you get this card, make sure that you fulfill the eligibility criteria for the card and have valid documents to apply for it.
Fees and Charges
|Add on Card Fee||NIL|
|Finance Charges||3.6% per month|
|Foreign Transaction Fee||3.50%|
|Cash Withdrawal Charges||2.5% of the Cash Amount with a Minimum of INR 500|
|Card Replacement Fee||INR 100|
|Late Payment Fee||INR 100 to INR 1000|
- You will need a minimum monthly salary of INR 1,25,000 to apply for the LIC Signature Credit Card.
- The minimum age of the applicant must be 18 years.
- The maximum age of the applicant must not be more than 70 years.
- You should be an Indian Citizen.
- Your yearly income should be INR 15,00,000.
- Your Cibil score must be 750 and above.
- Applicant’s PAN Card
- Salary Slips of the Salaried Person
- Bank Statement, IT Return, Form 16 for other Applicants
- Latest Residence Proof
- Identity Proof
LIC Signature Card Credit Limit
Your credit limit for the LIC Signature Card will be decided by the issuer on the basis of your income and credit score. A person having a Cibil Score of 750 and above and a high income usually gets a high credit limit on this credit card.
Apply for Signature Credit Card
The Signature Credit Card is available on the official website of LIC from where you can apply for it. You will have to click on the apply now button and complete the basic formalities. The representative will get in touch with you and you can apply for the card.
LIC Signature Card Payment Options
You can use any method from the following methods to clear the dues of your LIC credit card:-
- Make Payment Through NEFT
- Beneficiary Name- Name on the Credit Card
- Bank’s Name- Axis Bank
- Branch Name- Mumbai
- Account Number- 16 Digit Credit Card Number
- IFSC Code- UTIB0000400
- Use Visa Money Transfer
- Pay Credit Card Bills from another bank Account
- Visit the LIC Cards Official Website