The Gold EMV Card by the Life Insurance Corporation comes with a host of features and benefits for the cardholder. The credit card comes with personal accident insurance of up to Rs.1 lakh and also purchase protection of up to Rs.50,000. The card does not have any annual or joining fee and comes with a finance charge of 2.75% per month.
|Personal Accident Insurance||
|Reward Point Benefits||
|Balance Transfer Facility||
|Predefined Credit Limit||
The credit limit for the LIC Gold EMV Card is assigned by the Life Insurance Corporation. There are several factors which are taken into consideration to assign the credit limit such as the credit score of the applicant, credit utilisation ratio, etc.
|Type of Charge||Fees|
|Interest on Revolving Credit (per month)||2.75% per month (Annually – 33%)|
|Add on Card||1 card – Free; every additional card – Rs.100|
|Interest on Cash Advance (per month)||2.75% from per month|
|ATM Cash Withdrawal Fee||2.5% of the transaction|
|Cash Advance Limit||10% of the credit limit|
|Late Payment Charges per occasion||30% of the total amount due (minimum of Rs.100 and maximum of Rs.500)|
|Charges for non-financial transactions at other bank ATMs||Rs.30 per transaction|
|Charge slip retrieval ree||Rs.125 per slip|
|Charges for cheque return/ Auto Debit instruction failure||Rs.200 per cheque|
|Cash Processing Fee||Rs.100 for cash payment made in branches of Corporation Bank.|
|Duplicate Statement Request beyond 3 months||Rs.25 per statement plus Rs.50 courier charges|
|Duplicate PIN Request||Rs.30 per request|
|Balance Transfer Charges||1% of the balance transfer. Minimum of Rs.100.|
|Temporary Credit Limit Enhancement Fee||Rs.100 per occasion|
|Fuel Transaction Surcharge||2.5% of the transaction. (Minimum of Rs.10)|
|Railway Booking Surcharge||As per IRCTC|
|Billing statement through courier||Rs.100|
|International Currency Conversion markup fee||3.5% of the foreign currency amount|
|Employment status||The applicant must be salaried or self-employed.|
|Nationality||He or she must be a citizen of India.|
|Age||The applicant must be 18 years old.|
|Credit Score||A good credit score is important to apply for a credit card.|
|Proof of Address||Identity Proof||Income Proof|
|Passport||Voter ID||Salary Slip|
|Ration Card||Driving License||Form 16|
|Voter ID||Aadhaar Card||IT Returns|
Yes, for LIC or Group Company Employees, salaried LIC policyholders, self-employed LIC policyholders, and LIC policyholders- the HNI segment, the minimum income must be Rs.1.80 lakh.
A maximum of 3 add-on credit cards can be availed by the primary cardholder. One add-on will be given free of cost. However, for any other additional add-on credit card, a fee of Rs.100 will be charged.
The validity period of the LIC Gold EMV Card is for 5 years.
The interest-free period for the LIC Gold EMV Card ranges between 15 days to 45 days.
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