LIC (Life Insurance Corporation) & Axis Bank have collaborated to offer a number of credit cards including LIC Signature Credit Card. Get into the world of LIC Axis Bank Signature Credit Card and earn reward points on every purchase, whether online or offline. With splendid bonanzas one can enjoy insurance benefits, dining, travel & lifestyle benefits, shopping & other benefits which can be used globally. The Card also carries offers from top retail brands, Visa offers, and numerous privileges such as fuel surcharge waiver, lounge access, golf, international transactions, and more.
Key Highlights of LIC Signature Credit Card
| Key Highlights | Joining Fee | Nil |
| Annual/Renewal Fee | Nil | |
| Income Requirement | ₹ 15 lakh per annum | |
| Best Suited For | Rewards, shopping, lifestyle | |
| Insurance | Complimentary lost card liability cover | |
| Age For | 18 -70 years |
Features & Benefits of LIC Signature Credit Card
You can see the detailed benefits of LIC Signature credit card in the following table:
| Features | Details |
|---|---|
| Airport Lounge Access | Enjoy 8 complimentary lounge visits per calendar year at select domestic airport (2 per quarter) |
| Comprehensive Insurance Cover | LIC Signature Credit Card holders can enjoy complimentary lost card liability insurance cover up to their credit limit (up to a maximum of Rs.5 lakh)Covers a personal accident cover up to ₹ 5 lakh Covers air accidental insurance of ₹ 1 crore |
| Reward Points on every transaction | Get 2 RPs for every ₹ 100 spent on LIC Premium payment & foreign currency transactionsGet 1 RP for every ₹ 100 spent on all other transactions except fuel, wallet load & EMI conversionsRedeem the rewards earned against e-vouchers, gift cards & other products by calling customer care 1800 419 0064 |
| Fuel Surcharge Waiver | 1% fuel surcharge waiver on fuel purchases at all fuel stations across IndiaValid on transaction b/w ₹ 400 – ₹ 4000 (max. monthly benefit up to ₹ 400)GST on fuel surcharge is non refundableNo reward points on fuel purchase |
| Dining Delights | Indulge in delectable cuisines & enjoy up to 20% off at 4000+ restaurants in India. |
| EMI Conversion | No matter how big your Credit Card purchase, go right ahead. Just contact us & convert your transaction of ₹ 2500 or more into easy EMI |
| Balance Transfer | Opt hassle free transferring of outstanding balance from credit cards of other banks to LIC Signature Credit Card |
| Interest Free Credit Period | Up to 50 days |
| Cash Withdrawals | You can withdraw cash any time instantly from ATMs using The Card all over India |
| Add-on Card facility | The LIC Signature Credit Card offers up to three supplementary cards for family members, including parents, parents-in-law, spouse, children, or siblings who are at least 15 years old. The supplementary cards have the same benefits and features as the primary card, and the primary card’s limit is spread across the add-on cards |
| Easy Loans | Get easy loan without any documentation and quick disbursement on card |
| Card Fee Type | Lifetime free credit card |
| Reward Redemption | Reward points can be redeemed through the LIC Reward Catalogue. You can redeem your reward points for a wide range of products, e-vouchers and gift cards |
Fees & Charges
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The fees & charges for LIC Axis Signature Credit Card are applicable to all card holders. The fees include cash payment fee, joining fee & an annual fee etc.
| Types of Fee/Charges | Amount | |
|---|---|---|
| Joining Fee | Nil | |
| Annual/Renewal Fee | Nil | |
| Finance charge ( Retail Purchase & Cash) | 3.6% per month ( 52.86% per annum) | |
| Add-on Card Joining Fee/Annual Fee | Nil | |
| Card Replacement Fee | Nil | |
| Cash Payment Fee | ₹ 100 | |
| Reward Point Redemption Fee | No | |
| Foreign Currency Transaction Fee | 3.50% of the transaction value | |
| Fuel Transaction Charge | 1% of transaction amount, refunded for fuel transactions b/w ₹ 400 – ₹ 4,000 ( max. benefits up to ₹ 400 monthly) | |
| Late Payment Fee/ Overdue Penalty | For Statement Balance- | |
| Fee | Up To | |
| Nil | If total payment due is less than ₹ 500 | |
| ₹ 500 | If total payment due is b/w ₹ 501- ₹ 5000 | |
| ₹ 750 | If total payment due is b/w ₹ 5,001 – ₹ 10,000 | |
| ₹ 1200 | If total payment due is greater than ₹ 10,000 | |
| Over Limit Penalty | 2.5% of over the limit amount (min. ₹ 500) | |
| Cash Withdrawal Fee | 2.5% (min. ₹ 500) of the cash amount | |
| Balance Enquiry Charges | Waived | |
| Duplicate Statement Fee | Waived | |
| Mobile Alerts for Transactions | Free | |
| Copy Request Fee ( charge slip retrieval fee) | Waived | |
| Cheque Fee (outstation) | Waived | |
| Hotlisting charges | Nil | |
| Cheque Return or dishonor Fee or Auto-debit Reversal Bank A/c out of funds | 2% of the payment amount subject to min. ₹ 450, max. ₹ 1500 | |
| GST | As per existing gov. norms | |
| Rent Transaction Fee | 1% capped at INR 1,500 transaction on rental transactions | |
| Dynamic Currency Conversion mark-up | 1% on international transaction performed in Indian Currency at international location | |
LIC Signature Credit Card: Eligibility Criteria
You must fulfill the below-mentioned eligibility criteria:
| Criteria | |
|---|---|
| Age Requirement | Age b/w 18 – 70 years |
| Income Requirement | ₹ 15 lakh per annum |
| Occupation | Salaried/Self-employment |
| Residential | The applicant should be a Resident of India |
LIC Signature Credit Card: Documents Required
Along with a duly filled application form for LIC Signature Credit Card, applicants must submit proof of identity, address, and income. Given below is the list of acceptable documents:
| Types Of Documents Detail | |
| Identity Proof | PAN Card, Aadhaar card, Driving License, Voter ID, Passport (any one of these) |
| Residential Proof | Ration Card, Electricity Bill, Landline telephone bill, Voter ID, Passport (any one of these) |
| Income Proof | Latest payslip, Income Tax Return copy as proof of income, Bank statement, Form 16 |
| Others | Color photographs, PAN Card photocopy or Form 60 |
Click here to apply for LIC Signature Credit Card
FAQs
How good is LIC Signature credit card?
The LIC Axis Bank Signature Credit Card offers discerning cardholders a wide range of benefits. With the seamless integration of Axis Bank’s strong banking services and LIC’s trusted insurance solutions, this card offers unmatched value. Cardholders enjoy exclusive privileges such as insurance benefits, dining, travel & lifestyle benefits, shopping benefits, fuel surcharge waiver, lounge access, golf, international transactions, and more. This card is a testimony to Axis Bank and LIC’s commitment to excellence.
Is LIC Signature Credit Card better than Platinum?
The main differentiator between Platinum and Signature cards is that Signature cards earn more cash-back and rewards. This can be a great incentive for those who pay off their balance each month and care less about the interest rates.
What credit score is needed for a LIC signature card?
A credit score of about 700+ is an ideal score to qualify you for just about any credit card, including those with higher cash-back and rewards, lower annual percentage rates (APRs), and more.
How can I redeem reward points on LIC Signature credit card?
You can redeem the rewards earned against e-vouchers, gift cards & other products by calling customer care 1800 419 0064
Can I get an add-on card with the LIC Signature Credit Card?
The user can request up to three add-on cards for one LIC Signature Credit Card. There are no joining or annual fees on these supplementary cards, offering convenience and flexibility to family members or dependents including parents, parents-in-law, spouse, children, or siblings of at least 15 years old. The supplementary cards have the same benefits and features as the primary card, and the primary card’s limit is spread across the add-on cards.
What type of insurance facility can the applicant avail on this card?
Signature Credit Card holders can enjoy-
> LIC complimentary lost card liability insurance covers up to their credit limit (up to a maximum of Rs.5 lakh)
> It also provides a personal accident cover up to ₹ 5 lakh. and,
> Covers air accidental insurance of ₹ 1 crore.
Can the user utilize 100% of the credit card limit?
Although the user can utilize 100% of the credit card’s limit but it is not recommended. Maxing out credit cards can adversely affect users’ credit score, limiting their future borrowing options. Furthermore, a high outstanding balance attracts substantial interest, putting one at risk of getting trapped in debt.
How much interest-free credit period is on this card?
For up to 50 days, one can enjoy the card without paying any interest up to 50 days after a transaction.
Is this card only available for salaried people?
No, LIC Signature Credit Card is also available for self- employed persons.
What is Hotlisting in a credit card?
Hotlisting a card is a security measure that prevents unauthorized transactions if it is lost, stolen, or compromised. It involves reporting the card’s loss to the bank and requesting it be blocked.
What is meant by Lifetime free credit card?
A lifetime free credit card is a credit card that doesn’t charge any annual fee or renewal fees for the entire time of its validity. These cards are a good option for people who want to avoid recurring costs and looking for a wallet-friendly choice.
Lifetime-free credit cards typically offer basic benefits like reward points, cash back, and other standard features. However, they may not have the premium perks and higher reward rates that come with paid credit cards.
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