Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Corporation Bank Credit Card

    LIC Corporation Bank is a subsidiary of the Life Insurance Corporation of India. It was established in 1906 and currently the Bank has around 8970+ service centers. Life Insurance Corporation of India was formed through the LIC Act, 1956 by the Indian Government.

    Why choose Corporation Bank Credit Cards?

    LIC Corporation Bank Credit Cards are provided solely for the benefit of LIC agents, LIC policy holders (Salaried, Self-employed and HNC segment) and other LIC employees. The main card holder can also extend these privileges as well as share the credit available on his/her card to their family members by availing maximum 3 add-on cards. The credit cards offered by LIC Corporation Bank offers attractive benefits such as opportunity to earn more reward points by paying LIC policy premiums using the card, lower rate of interest, credit shield, personal accident cover, purchase protection, and so on.

    Features and Benefits of Corporation Bank Credit Cards:

    Free of Cost There are no charges levied as Joining Fee, Annual fee or Renewal Fee.
    Incomparable Interest Rates Interest rate of 3% per month on both Gold and Platinum EMV credit cards.
    Validity The LIC Corporation Bank Credit Cards are valid for 5 years.
    Additional Security The LIC Corporation Bank Credit Cards come with the borrower’s photo and imprint of his/her signature.
    Add-on Cards There is a provision for add-on cards as well for all LIC Corporation Bank Credit Card holders.
    Cash Withdrawal The cash withdrawal limit on this card is maximum 30% of the credit limit.
    Interest Free Credit An interest free credit period ranging from 15 days to 45 days is offered to all cardholders.
    Insurance/ Cover The credit card comes with insurance coverage on related fields such as Personal Accident Insurance, Purchase Protection valid for a period of maximum 60 days and Rs. 50,000 worth of Credit Shield, if the cardholder is permanently disabled.

    List of Corporation Bank Credit Cards:

    LIC Corporation Bank Platinum EMV Credit Card:

    Key Highlights: A lifestyle credit card with a host of features and benefits for the cardholder.

    Joining Fee: Nil

    Annual Fee: Nil

    Features and Benefits:

    • Interest free Credit Period for a minimum 15 days to maximum of 45 days.
    • 1 reward point given for every Rs.150 spent.
    • Credit Shield of up to Rs.50,000 in case of permanent disability.
    • Personal Accident Insurance.
    • Purchase Protection of maximum of Rs.50,000/- up to 60 days.

    LIC Corporation Bank Gold EMV Credit Card:

    Key Highlights: A lifestyle credit card offering a wide range of benefits including a comprehensive insurance package.

    Joining Fee: Nil

    Annual Fee: Nil

    Features and Benefits:

    • Interest Free Credit period ranging from 15 to 45 days.
    • Personal Accident Insurance of Rs.1 lakh.
    • Purchase Protection of maximum Rs.50,000 for up to 60 days.
    • Credit Shield offered up to Rs.50,000/- in case of Permanent Disability.
    • Get 1 reward point for every Rs.150 spent.

    Charges and Interest Rate:

    Type of Charge LIC Corporation Bank Platinum EMV Credit Card Corporation Bank International Credit Card
    Joining Fee Nil Nil
    Annual Fee Nil Nil
    Renewal Fee Nil Nil
    Add-on Cards 3 add-on cards. First add-on card free and next cards will be charged Rs. 200 each. 3 add-on cards.
    Interest on Revolving Credit 3% per month and 36% annually. 2.25% per month for gold credit card. 2.50% per month for classic credit card.
    Cash Advance Limit 30% of Credit Limit Not Available
    Over Limit Charges 2% of the over limit amount or a minimum of Rs. 250, whichever is the highest. 2.5% of the over limit amount or a minimum of Rs. 100, whichever is the highest.
    Standing Instruction Failure/ Cheque Return Penalty Rs. 250 for each failed transaction. Rs. 250 for each failed transaction.

    Rewards:

    The LIC Corporation Bank Credit Cards offer an exclusive rewards programme to its customers. You can earn twice the number of Reward Points on transactions made on the card towards payment of premium on LIC Policies. The accumulated Rewards Point can also be used to settle the outstanding dues on the credit card account. The cashback offered on the Gold Credit Card is Rs. 0.25 and the cashback offered on Platinum Credit cards is Rs. 0.50. Corporation Bank International Credit Card offers exclusive rewards of one point per Rs. 200 Spent on the Classic credit card and one point per Rs. 150 spent on the Gold credit card.

    Eligibility:

    In order to be eligible for the LIC Corporation Bank Platinum Credit Card, the following prerequisites must be fulfilled:

    • The applicant must be a citizen of India. Applicants who are NRIs, PIOs and Foreign Nationals are not accepted.
    • A minor or an illiterate person cannot apply.
    • The applicant should have valid Permanent Account Number/ PAN, issued by the Income Tax Department.
    • The primary applicant/card holder should not be below 18 years of age. The maximum age criteria for eligibility of a primary card holder is 60 years and below.
    • An Add-on Card holder should not be aged below 18 years and should not be more than 65 years of age.
    • LIC Agents are eligible for Corporation Bank credit cards. They should be members of LIC clubs such as CM Club, Corporate Club, MDRT, DM Club, ZM Club and the BM Club.
    • LIC Policy Holders can also apply for LIC Corporation Bank Credit Cards if they fulfill the following conditions:
    • Salaried and Self-Employed Applicants: A salaried or self-employed LIC policy holder is eligible to apply for this credit card if he/she has at least one Fully Paid-up or In-force Non-Single Premium LIC Policy, which has been in existence for a period of 3 years or more from the commencement date of the Policy till Date of Application.
    • HNI Segment (GC): Under this segment, the policy holder would fall under the GC category if he/ she has at least 1 or more Non-single premium policies with an Yearly Total premium amounting to Rs. 30,000/- or above. The premium on this policy must have been payed for not less than 3 successive years (latest) and the policy must either Fully paid-up or In-force from the Date of Application.

    Documents required:

    Photo-Identity Proof Address Proof
    Driving Licence Ration Card
    Passport Staff Quarter Allotment Lette
    Government-issued Voter’s ID LIC Policy Bond
    Government or PSU issued Employee ID card Driving Licence
    Aadhar Card Lease Agreement
    Ration Card Rental Agreement
    IRDA Licence Aadhaar Card
    Copy of Bank Passbook provided by a nationalized Bank Utility Bills such as Telephone bill, Electricity bill, Gas, Postpaid Mobile bill, Water, Maintenance Bills, etc.
    ID Card provided by LIC/Group Companies. Passbook
    - PSUs/ Government/ Bank/ LIC issued Official Identity Card with Residential Address
    - Policy Status Report or LIC Premium Receipt

    The documents to be submitted by the applicant at the time of application for the LIC Corporation

    Bank Credit Cards are as follows:

    • KYC Documents such as Photo-Identity Proof and Proof of Residence
    • Proof of Income or Income-surrogated Documents
    • Proof of Relationship with LIC

    Proof of Income (Documents Required)

    LIC Policyholders:

    • Salaried Individuals:

      Any one documents from the following list can be submitted as income proof for LIC policyholders who are salaried:

      • The Form 16 of the Assessment Year that precedes the Financial Year.
      • Salary slip or Salary Certificate of the last 3 months.
      • The latest IT Return that has been submitted.
    • Self Employed Individuals:

      The two documents that are provided below have to be submitted by self-employed LIC policy holders as income proof:

      • Bank Statement of the past 6 months (latest).
      • The latest Income Tax Return that has been submitted. This should be in the individual’s name and not in the company’s name.
    • HNI Segment (GC):

      Applicants falling under this segment need not provide a separate proof of income. Those who hold policies that are /Fully Paid-Up or In-force, with Non single premium, that has a tenure of not less than 3 years, can submit the Premium Receipts or Certified Status Reports instead of the Income Proof. Additional income proof can be submitted, and the higher value between the notional income and the actual income will be accepted as the Net Annual Income.

    • LIC Agents:

      Applicants who are LIC Agents can submit any one of the following income documents as proof of income:

      • The latest Income Tax Return that has been submitted.
      • The Form 16-A of the Current Assessment Year.
    • Surrogated Income Documents for LIC Agents: Applicants falling under this segment need not provide a separate proof of income. The LIC agents who are member of the LIC Club can provide the Certified Agency Status Report that indicates the Club Membership Status and this can be used as a substitute for the Income Proof.

    • LIC Employees:

      Surrogated proof of income will not be accepted under this segment. It is mandatory that the LIC employees should provide any one document among the following as income proof:

      • The Form 16 of the Current Assessment Year.
      • Latest salary slip of the past 3 months which has been issued in the Salary Module under the Branch eFEAP Program.
      • The latest Income Tax Return that has been submitted.

    Corporation Bank Credit Card FAQs:

    1. What is Visa Bill Pay facility?

      All LIC Corporation Bank Credit Card holders can avail the Visa Bill Pay feature. This is offered only to card holders who have Visa issued cards. By registering online through Visa’s portal, the LIC Corporation Bank Credit Card holders can become a Visa member and can then enjoy the easy-to-use bill pay facility. The Visa Bill Pay facility can be availed by all VISA card holders in India.

    2. What is “proof of relationship” document that has to be submitted by the applicant?

      The LIC Relationship proof is one of the documents that is to be submitted at the time of application to show the applicant’s connection to LIC, since the LIC Corporation Bank Credit Cards are offered only to LIC Agents, LIC Policyholders and Employees of LIC.

    3. Can I submit a Handwritten Salary Slip as income proof?

      If you are employed in a PSUs or under the Indian Government, a handwritten Salary Slip will be accepted by the LIC Corporation Bank as income proof. However, it is valid only if it is signed and sealed by an Authorized Signatory.

    4. My LIC Corporation Bank Credit Card has been stolen/ is lost. What should I do?

      If the LIC Corporation Bank Credit Card has been stolen/ is lost, the cardholder should report the loss or theft to the Customer Helpline available 24/7, as soon as possible. This is also applicable in the case of loss or theft of an add-on card. Once this is done, the bank will hot list/ block the credit card.

    5. What is the fuel surcharge applicable on purchase of petrol using the LIC Corporation Bank Credit Cards?

      The fuel surcharge that is applicable on purchase of petrol using the LIC Corporation Bank credit cards is 2.5% of the transaction or a minimum of Rs. 10/-, whichever is the highest.

    6. What are the different ways by which I can apply for a Corporation Bank credit card?

      The different ways by which you can apply for a Corporation Bank credit card are mentioned below:

      • Online
      • By visiting the nearest Corporation Bank branch.
    7. What are the different ways by which I can check the credit card balance?

      The different methods by which you can check the credit card balance are mentioned below:

      • Net banking
      • Mobile banking
      • By calling customer care on 1800 22 6606
    8. How do I generate the credit card PIN?

      The step-by-step procedure to generate the Corporation Bank credit card PIN is mentioned below:

      • Visit the official website of Corporation Bank. 
      • Login to the net banking account. 
      • Choose the ‘Credit Card’ option. 
      • You will find the option to change the PIN. 

      You can also generate the PIN by using mobile banking.

    9. What are the interest rates for the different types of Corporate Bank credit cards?

      The interest rates for the different types of credit cards are mentioned below: 

      • Signature: 36% p.a. 
      • Platinum: 33% p.a. 
      • Gold: 27% p.a. 
    10. Who is eligible to receive an Add-on card?

      The below-mentioned individuals are eligible to receive an Add-on card: 

      • Parents 
      • Spouse 
      • Siblings who are above the age of 18 years 
      • Children who are above the age of 18 years 
    11. What are the different ways by which I can pay my credit card bill?

      The different ways by which you can pay your credit card bill are mentioned below:

      • Internet banking of another bank 
      • Corp-Net 
      • Visa Money Transfer 
      • Auto Debit 
      • DD/Cheque 
      • Cash 
      

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    Corporation Bank Credit Cards Reviews

    • Corporation Bank
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I was having a credit card with Corporation Bank before 6 years ago and it was my first card. The credit limit is very good. I have maintained the card properly and have been good record of gold loan transactions and issued a credit card for being salary account holder. Still its been active.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Sep 24, 2019
    • Corporation Bank
      Corporation Bank
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Corporation Bank credit card is good and I can access it everywhere. There is no annual fee. I am using the card for last 2 years. I am satisfied with the credit limit. The rate of interest is nominal for late payments and EMI conversion. The payment mode is easier and it will be automatically debited from my account.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 16, 2019
    • Corporation Bank
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      Past 15 years I have been using Corporation bank credit card they have quick customer service and the credit limit is also good. Its a complimentary card based on the salary account. I have free card its good for daily day life it has good facility.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jul 15, 2019
    • Corporation Bank
      "Need to improve a lot in terms of customer service"
      0.5 3.0/5 "Satisfactory"
      Corporation Bank is still in the Traditional way. Even the customer is in a proper way, they won't track the customer record. They won't give any offer for increasing the limit. For a Governmental bank, the improvement is very slow. Net banking is more or less fine. Sometimes i get a offer on rewards points program which is useful. If I book my flight ticket, movie tickets i can able to redeem the rewards points.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jun 16, 2019
    • Corporation Bank
      "Good card"
      0.5 4.0/5 "Great!"
      There are no annual charges with this credit card it is free . I am using CORPORATION credit card for more than 1 year and the limit they use to upgrate . The response is also good. It has also got smooth EMI option. Overall it has been a very good experience with the card and their services.
      Was this review helpful? 3
      , new delhi
      Reviewed on Apr 11, 2019
    • Corporation Bank
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I bought the CORPORATION BANK CREDIT CARD , it is lifetime free card and it has not got any special offers. I am happy with the limit. The whole application process was good and hassle free. Overall I am happy with the whole application process.
      Was this review helpful? 2
      , mumbai
      Reviewed on Feb 23, 2019
    • Corporation Bank
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I am using CORPORATION BANK credit card service since last few years and i would say it is a good service. Till date the services has never disappointed me. The limit given to me is good. I get sms and emails whenever i carry any transactions. Offers are good here and i am happy .
      Was this review helpful? 4
      , gurgaon
      Reviewed on Feb 19, 2019
    • Corporation Bank
      "Good card"
      0.5 4.0/5 "Great!"
      My credit card was taken with CORPORATION BANK , I never faced any issues with their services. Overall there are no commendable features with the card. They offered very satisfactory credit limit with this card and customer support and their response was good . Good to have CORPORATION card .
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 18, 2019
    • Corporation Bank
      "Good card"
      0.5 3.0/5 "Satisfactory"
      My credit card was taken with CORPORATION BANK , this is very normal card anywhere found in the market nothing big with this card . Credit limit what they gave was fine not that much good . Offers were normal with this card like reward point is good here .
      Was this review helpful? 2
      , chennai
      Reviewed on Feb 18, 2019
    • Corporation Bank
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I am using CORPORATION BANK credit card form the last few years and i am pretty much happy with its services overall. The limit provided to me was good i am happy with that . Other than that i have offers in this card and its a good to go card. Overall it is good experience .
      Was this review helpful? 3
      , bangalore
      Reviewed on Feb 18, 2019
    • Corporation Bank
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      CORPORATION BANK is the bank where i am holding it from last few years i have a good experience. Previously i have got no offers with them and currently they are providing with the good offers with this card. The credit limit is satisfactory also no issues with the bill payments.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 18, 2019
    • Corporation Bank
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I have CORPORATION bank credit card , i am holding this card for more than 1 year . I use this card for online as well offline . There is annul fee at the time of getting the card and it is fair enough , They offered satisfactory credit limit with this card . Overall it has been good .
      Was this review helpful? 4
      , bangalore
      Reviewed on Feb 17, 2019
    • Corporation Bank
      "Good card"
      0.5 4.0/5 "Great!"
      My credit card was taken with CORPORATION BANK , the process of getting the card was easy and the card came on time there was no delay while getting the card . I am holding this card for more than 6month and i use this card for multipurpose . Overall it is good .
      Was this review helpful? 2
      , mumbai
      Reviewed on Feb 16, 2019
    • Corporation Bank
      "Experience is good"
      0.5 4.0/5 "Great!"
      Corporation Bank is good overall and I got my credit card from them on time. There were no issues in the process. The credit limit is also good and there are good offers on the card. The statements are clear and sent to me on time. In all no issues.
      Was this review helpful? 3
      , bangalore
      Reviewed on Feb 16, 2019
    • Corporation Bank
      "Best card"
      0.5 4.0/5 "Great!"
      I have been using the CORPORATION BANK credit card for past few years . The process of getting the card was too late it took much time to get the card . They offer me good credit limit which is very sufficient i am happy with that . I got the card on time no issue face till date .
      Was this review helpful? 2
      , mumbai
      Reviewed on Feb 01, 2019
    • Corporation Bank
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      I hold a savings account in Corporative bank and its been long since i have a account. I carry agricultural work also and All my agricultural transaction happens in this bank. It is easy to access my transaction here and i am happy with the overall services.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 10, 2019
    • Corporation Bank
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have been holding credit card with Corporation bank,there service is too good, they have not charged annual fee in this card, and i am happy with there credit limit, and i got this credit card as i have my salary account with it so they have given me this credit card, overall service is good.
      Was this review helpful? 2
      , mumbai
      Reviewed on Dec 07, 2018
    • Corporation Bank
      "Need improvement on all aspects"
      0.5 2.5/5 "Just OK"
      Its not recommendable , often they face technical issue, their server most of time wont work, and for the transaction take long time. I have no other account , I have continue, with them, they need to keep more atm in all the places. I have been using this bank around 7 years, but there was no improvement.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 07, 2018
    • Corporation Bank
      "Good Card"
      0.5 5.0/5 "Blown Away!"
      I have already used my credit card with Corporation bank. They have given me a credit limit of Rs. 40000 and i have used the card for only one year. I have closed the credit card due to payment delay. They are not provided any kind of offers. Late fee charges are nominal. Its a zero annual fee card.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 02, 2018
    • Corporation Bank
      "Good Credit Card"
      0.5 4.0/5 "Great!"
      Service wise there is no issue in Corporation bank, offers are not good. I used to get only reward points for few transaction. I used to pay my credit card bill on date I am not sure interest rate, its very user friendly card without any charges.
      Was this review helpful? 6
      , coimbatore
      Reviewed on Nov 10, 2018
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