Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • LIC Platinum EMV Credit Card

    The Platinum EMV Card by the Life Insurance Corporation offers a wide range of benefits and features to the cardholder which includes a Personal Accident Insurance along with a credit shield. This credit card does not have any joining fee or an annual fee and comes with an interest rate of 3.00% per month (36% annually).

    Key Highlights of the LIC Platinum EMV Card

    • For every Rs.150 spent, 1 reward point given.
    • The card comes with a Personal Accident Insurance.
    • Credit Shield offered up to Rs.50,000 in case of Permanent Disability.
    • Purchase Protection given up to Rs.50,000 up to 60 days.

    Features and Benefits of the LIC Platinum EMV Card

    Personal Accident Insurance
    • Personal Accident Insurance is given with the credit card.
    Balance Transfer Facility
    • Cardholders will have the ability to transfer the outstanding balance from any other credit cards to the LIC Gold EMV Card.
    Reward Point Benefits
    • 1 reward point given for every Rs.150 spent.
    • 1 reward point = Rs.0.25
    EMI Facility
    • All purchases which amount to more than Rs.2,500 can be converted into EMIs of 6, 12 and 24 months.
    Credit Shield
    • A credit shield of Rs.50,000 is given, in case of permanent disability. (Subject to terms and conditions)
    Purchase Protection
    • Purchase protection of up to Rs.50,000 given up to 2 months.

    LIC Platinum EMV Card Limit

    The credit limit for the LIC Platinum EMV Cardis assigned by the Life Insurance Corporation which is dependant on several factors such as the credit score of the applicant, credit utilisation ratio, etc.

    LIC Platinum EMV Card Fees and Charges

    Type of Charge Fees
    Joining fee Nil
    Add on Card 1 card – Free; every additional card – Rs.100
    Interest on Revolving Credit (per month) 3.00% per month (Annually – 36%)
    Annual fee Nil
    ATM Cash Withdrawal Fee 2.5% of the transaction
    Cash Advance Limit 10% of the credit limit
    Charges for non-financial transactions at other bank ATMs Rs.30 per transaction
    Late Payment Charges per occasion 30% of the total amount due (minimum of Rs.100 and maximum of Rs.500)
    Replacement Card Rs.100
    Balance Transfer Charges 1% of the balance transfer. Minimum of Rs.100.
    Charge slip retrieval ree Rs.125 per slip
    Charges for cheque return/ Auto Debit instruction failure Rs.200 per cheque
    Duplicate Statement Request beyond 3 months Rs.25 per statement (Rs.50 - courier charges)
    Cash Processing Fee Rs.100 for cash payment made in branches of Corporation Bank.
    Temporary Credit Limit Enhancement Fee Rs.100 per occasion
    Duplicate PIN Request Rs.30 per request
    International Currency Conversion markup fee 3.5% of the foreign currency amount
    Fuel Transaction Surcharge 2.5% of the transaction. (Minimum of Rs.10)
    Railway Booking Surcharge As per IRCTC
    Billing statement through courier Rs.100

    Eligibility Criteria for the LIC Platinum EMV Card

    Nationality He or she must be a citizen of India.
    Employment status The primary applicant must be salaried or self-employed.
    Age The applicant must be at least 18 years old.
    Credit Score A good credit score is important to apply for the credit card.

    Documents Required for the LIC Platinum EMV Card

    Identity Proof Income Proof Proof of Address
    Aadhaar card IT Returns Aadhaar Card
    Driving License Form 16 Ration Card
    Voter ID Salary Slips Voter ID
    - - Passport

    FAQs on LIC Platinum EMV Card

    1. What is the interest-free period for the LIC Gold EMV Card?

      The interest-free period for the LIC Platinum EMV Card ranges between 15 days to 45 days.

    2. Is there a minimum income required for the LIC Platinum EMV Card?

      Yes, the minimum income of the applicant must be Rs.1.80 lakh for LIC or Group Company Employees, self-employed LIC policyholders, salaried LIC policyholders, and LIC policyholders- HNI segment.

    3. How many add-on credit cards can be availed?

      A maximum of 3 add-on credit cards can be availed by the primary cardholder.

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