LIC Credit Card: Documentation & Eligibility | LIC Cards

LIC Credit Card: Lic of India the world number 1 insurance company has just come in to credit card business along with its channel partner Corporation Bank. LIC of India has more than 1 million agents and 2048 branches in India to sell its LIC Policy and and other products like LIC credit card etc.

Life Insurance Corporation of India will enter into a joint venture to launch its credit card business. Life Insurance Corporation of India (LIC), LIC Card Services – A Credit Card company will be setup in compliance with RBI regulations.

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LIC Credit Cards Services: Various Cards of LIC

Gold Card: A card that brings sheer surprises your way – know more & apply	Platinum Card: A card that is as rare as you – Know more & apply
Titanium Card: A card that is perfect for rewarding journeys – Know more & apply	Signature Card: A card that offers you a world of unparalleled privileges – know more & apply

Documents & Eligibility

Mentioned below are the detailed document and eligibility criteria for LIC Credit Cards.

Card Type	Income Criteria
Signature Credit Card	Net Salary Requirement – Rs. 15 Lakh per annum. Salary Slip of Rs.1.25 Lakh gross salary
Platinum Credit Card	Net Salary Requirement – Rs. 5 Lakh per annum. Salary Slip of Rs.42,000 gross salary
Titanium Credit Card	Net Salary Requirement – Rs. 3Lakh per annum. Salary Slip of Rs.25,000 gross salary
Gold Credit Card	Net Salary Requirement – Rs. 1.8 Lakh per annum. Salary Slip of Rs.15,000 gross salary

Schedule of Charges

It gives us immense pleasure to announce that LIC Cards Services Limited (LIC CSL), a wholly owned subsidiary of LIC of India launched its LIC Credit Card on 29th March, 2011 to be powered by Axis Bank.

Particular	Signature Card	Platinum Card	Titanium Card	Gold Card

Standard Annual Fee	Nil	Nil	Nil	Nil
Standard Add-on Card Joining Fee	Nil	Nil	Nil	Nil
Standard Add-on Card Annual Fee	Nil	Nil	Nil	Nil
Finance Charges (Retail Purchases & Cash)	3.25% per month (46.78% per annum)	3.25% per month (46.78% per annum)	3.25% per month (46.78% per annum)	3.25% per month (46.78% per annum)
Cash Withdrawal Fees	2.5% (Min. Rs 250) of the Cash Amount	2.5% (Min. Rs 250) of the Cash Amount	2.5% (Min. Rs 250) of the Cash Amount	2.5% (Min. Rs 250) of the Cash Amount
Card Replacement (lost or stolen or re-issue)	Waived	Waived	Waived	Waived
Emergency Card Replacement Fee when overseas (through VISA)	As per VISA Global Customer Assistance Services (GCAS).	As per VISA Global Customer Assistance Services (GCAS).	As per VISA Global Customer Assistance Services (GCAS).	As per VISA Global Customer Assistance Services (GCAS).
Duplicate Statement Fee	Waived	Waived	Waived	Waived
Overdue Penalty or Late Payment Fee	Late Payment Fee is linked to total amount due on card account i.e. Rs. 300 if Total Payment Due is up to Rs. 2000, Rs. 400 if Total Payment Due is between Rs. 2001 – Rs. 5000 & Rs. 600 if Total Payment Due is Rs. 5001 or more	Late Payment Fee is linked to total amount due on card account i.e. Rs. 300 if Total Payment Due is up to Rs. 2000, Rs. 400 if Total Payment Due is between Rs. 2001 – Rs. 5000 & Rs. 600 if Total Payment Due is Rs. 5001 or more	Late Payment Fee is linked to total amount due on card account i.e. Rs. 300 if Total Payment Due is up to Rs. 2000, Rs. 400 if Total Payment Due is between Rs. 2001 – Rs. 5000 & Rs. 600 if Total Payment Due is Rs. 5001 or more	Late Payment Fee is linked to total amount due on card account i.e. Rs. 300 if Total Payment Due is up to Rs. 2000, Rs. 400 if Total Payment Due is between Rs. 2001 – Rs. 5000 & Rs. 600 if Total Payment Due is Rs. 5001 or more
Over Limit Penalty	3% of the over limit amount (Min. Rs 500)	3% of the over limit amount (Min. Rs 500)	3% of the over limit amount (Min. Rs 500)	3% of the over limit amount (Min. Rs 500)
Charge slip Retrieval Fee or Copy Request Fee	Waived	Waived	Waived	Waived
Outstation Cheque Fee	Waived	Waived	Waived	Waived
Cheque return or dishonor Fee or Auto debit Reversal Bank A/c out of Funds	Rs 300	Rs 300	Rs 300	Rs 300
Surcharge on purchase or cancellation of Railway Tickets	As prescribed by IRCTC/Indian Railways	As prescribed by IRCTC/Indian Railways	As prescribed by IRCTC/Indian Railways	As prescribed by IRCTC/Indian Railways
Fuel Transaction Surcharge	Waived (For fuel transaction between Rs 400 and Rs 4000)	Waived (For fuel transaction between Rs 400 and Rs 4000)	Waived (For fuel transaction between Rs 400 and Rs 4000)	2.5% or Rs 10 whichever is higher
Foreign Currency Transaction Fee	3.50% of the transaction value	3.50% of the transaction value	3.50% of the transaction value	3.50% of the transaction value
Transaction Alert Charges	Waived	Waived	Waived	Waived
Hot listing Charges	Nil	Nil	Nil	Nil
Balance Enquiry Charges	Waived	Waived	Waived	Waived
PlusPoint Redemption Fee	Rs. 30 per request	Rs. 30 per request	Rs. 30 per request	Rs. 30 per request
Balance Transfer – Interest rates and Charges	Plan 1 – 0% interest rate for 3 months and 2.95% interest after 3 months with 2% processing fee or Rs. 199 (whichever is higher)
Balance Transfer – Interest rates and Charges	Plan 2- 0.75% interest rate for 6 months and 2.95% interest after 3 months with 1% processing fee or Rs. 100 (whichever is higher)
Dial-an-EMI – Interest rates and Charges	1.5% interest rate for 3, 6, 12 and 24 months EMI Tenure with 1.5% processing fee or Rs. 150 (whichever is higher)

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