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Lakshmi Vilas Bank has introduced two credit cards namely - a) LVB Platinum SBI Credit Card and b) LVB SimplySAVE SBI Credit Card, in collaboration with State Bank of India. These credit cards offer the best lifestyle privileges and are loaded with a multitude of benefits, as per any customer’s requirements. A powerful rewards program, value back offers, welcome offers, golfing benefits, renewal gifts, fuel surcharge waiver, a worldwide acceptance, insurance, cash withdrawals, etc., are just some of the important features of a Lakshmi Vilas Bank credit card. Lakshmi Vilas Bank credit cards are Visa cards which offer enhanced protection while making online transactions using the Verified by Visa (VbV) platform.
Every Lakshmi Vilas Bank credit card that is issued carries an embedded chip for protection against fraud attacks. Along with this Lakshmi Vilas Bank credit cards are a one-of-a-kind cards offering exclusive lifestyle privileges and a plethora of benefits like offers, deals, discounts, 5X rewards points, fee waivers and bonus rewards.
Lakshmi Vilas Bank Credit Cards offer a bouquet of benefits to users along with rewards and offer with every purchase transaction.
LVB customers can get bonus points as welcome offers, if spends are more than Rs. 2000 within the first 60 days of card usage. Customers can also get shopping vouchers as welcome gifts, which can be redeemed at retail partners like Jabong.com, Westside, Yatra.com, Marks & Spencer or Shoppers Stop.
Under the Shop and Smile Rewards Program, customers can earn 1 rewards point for every Rs.100 spent. Customers can also get accelerated rewards or bonus rewards depending on their purchase transaction amounts. Accumulated rewards points can be redeemed for gifts, electrical appliances, vouchers, accessories, lifestyle products or for paying the credit card outstanding amount.
Lakshmi Vilas Bank credit cards are accepted throughout the world at over 2 million Visa merchant outlets and at over 2, 85,000 outlets in India.
Customers can also get value back offers on grocery and departmental store purchases done on their Lakshmi Vilas Bank credit cards.
Lakshmi Vilas Bank credit cards users can also enjoy protection for fraud, loss of card and theft in addition to emergency travel and hotel assistance.
Lakshmi Vilas Bank credit card can also pay their outstanding bills through either online payment or through offline payments. The online payment options available for Lakshmi Vilas Bank customers are - NEFT Payments, Visa Credit Card Pay, Paynet – Pay Online, SBI Mobile Banking, Online SBI, Electronic Clearing Services, Electronic Bill Payment, Debit Card and SBI Auto Debit. The offline payment options available for Lakshmi Vilas Bank customers are - Over the Counter Payment (OTC), Drop Box, Electronic Drop Box, SBI ATMs and Pay Cash.
Under the Priority Pass program, LVB credit card holders can enjoy complimentary membership and gain access to over 600 airport lounges in India.
Lakshmi Vilas Bank credit card holders can make cash withdrawals at 1 million ATMs around the globe.
Using the Flexipay feature, customers can convert their high-value purchases into monthly installments. Purchases above Rs. 2500 can be converted into EMIs and repaid at low interest rates.
Available as a pre-approved option, the Encash facility offers card holders instant cash in the form of a cheque. This facility can be availed for an amount up to the credit limit of an LVB credit card.
Lakshmi Vilas Bank Credit Card holders can get all-inclusive insurance plans like hospital cash insurance, Medisafe insurance policy for hospitalisation, accident shield covering personal accidents and Family Health Floater Policy for Pre-Hospitalization Expenses, Day Care Procedures and Post-Hospitalization Expenses.
The “Go Mobile” feature allows LVB credit card users to get 24/7 access to their credit card details via the SBI Card mobile application.
LVB customers can locate the nearest SBI Card drop box through an SMS sent from their registered phone numbers. The entire list of drops boxes available will be sent to the card holder’s mobile number.
Lakshmi Vilas Bank credit card accounts can be easily managed via the internet banking facility offered. Customers can access their monthly credit card statements, register for SMS alerts, modify personal details and get information regarding the nearest ATM using this facility.
Lakshmi Vilas Bank credit card holders can enjoy a surcharge waiver of 2.5% on fuel transactions across any petrol bunk in India. The waiver would be applicable on transactions done for a value between Rs. 500 and Rs. 4000 by credit card users.
Outstanding balance available on other bank credit cards can be easily transferred to a Lakshmi Vilas Bank credit card using the balance transfer facility. Transfers can be done at low interest rates and with varying repayment tenures.
The Simply SMS facility helps Lakshmi Vilas Bank credit card customers get information about their LVB Credit Cards instantly on their registered mobile numbers.
Lakshmi Vilas Bank credit card customers can easily set standing instructions to pay their utility bills through the Easy Bill Pay feature. The Auto Bill Pay feature helps customers pay their utility bills without any delay.
LVB customers can get immediate cash using the “Easy Money” option as a draft or cheque drawn against the pre-determined cash limit.
Lakshmi Vilas Bank credit card holders can conveniently book train tickets on IRCTC and also enjoy the facility of getting them delivered at their doorsteps.
Customers can place requests for emergency replacement of their Lakshmi Vilas Bank credit cards in case they are lost or stolen. Lakshmi Vilas Bank credit card holders have to contact the 24/7 helpdesk to make this request.
Primary Lakshmi Vilas Bank credit card holders can easily avail add-on or supplementary credit cards for their family members inclusive of spouse, parents, siblings and children aged above 18 years.
|Charge||LVB Platinum SBI Card||LVB SimplySAVE SBI Card|
|Annual Fees||Rs. 2,999||Rs. 499|
|Joining Fees||Rs. 2,999||Rs. 499|
|Add On Cards||Yes||Yes|
|Add On Cards Fees||Nil||Nil|
|Rate of Interest Per Month||3.35%||3.35%|
|Category||All Lakshmi Vilas Bank Credit Cards|
|Reward Points||All Categories - 1 Reward Point Can Be Got For Every Rs. 100 Spent.|
|Bonus Reward Points||Lakshmi Vilas Bank Premium Payments / International Purchases - 2 Reward Points Can Be Got For Every Rs. 100 Spent.|
|Type of Credit Card||Eligibility is decided based on the spend category and the annual income furnished at the time of application.|
|LVB Platinum SBI Card|
|LVB SimplySAVE SBI Card|
The LVB Platinum SBI card is a premium credit card which offers some of the best lifestyle privileges along with benefits like bonus rewards points, 5X rewards, surcharge waivers, welcome offers and renewal gifts and is accepted across the globe.
As the moniker suggests, LVB SimplySAVE SBI Card holders can save significantly when they transact with this card. The LVB SimplySAVE SBI Card comes with excellent features like value back, cash points, welcome offers, surcharge waivers, add-on cards and much more.
Yes, Lakshmi Vilas Bank Credit Cards come with a waiver limit of up to Rs. 100. This is applicable on a single statement cycle of a specific credit card account.
Yes, for retrieval of statements which are older than two months, Rs. 100 is charged per statement.
Yes, rewards points accrued on Lakshmi Vilas Bank credit card come with a validity of 24 months. Accumulated points will expire after this period and are not eligible for redemptions.
No, Lakshmi Vilas Bank add-on card holders are not eligible to use the balance transfer on EMI facility. This is available only for primary LVB card holders.
No, Lakshmi Vilas Bank add-on credit cards are issued without any charge and are free for lifetime.
Lakshmi Vilas Bank has stepped into the world of credit cards. In association with SBI, the bank introduced co-branded credit cards. The VISA SimplySave card will carry credit card limits of up to Rs. 2 lakhs. The VISA Platinum card will have higher limits of up to Rs. 5 lakhs. To boost its credit card business, the bank’s target is 10,000 CASA customers as well as from other categories. The bank has also stepped into the digital world taking initiatives towards mobile banking. LVB Mobile is their mobile banking app which is available in the App Store and Google Play Store. It also works on Windows platforms. The app will provide a host of features that will satisfy customer requirements and convenience. Lakshmi Vilas Bank has also partnered up with Cigna TTL Health Insurance to bring to its customers health insurance options as well. The bank has been on a steady incline of growth and profits. It reported Rs. 45 crores net profit for the quarter that ended 30th September. Last year, they reported only 31.50 crore in the same period. Its entry into the credit card market should increase its business realm and increase growth even further. We can expect higher profits and margins from LVB in the near future.
09th December 2015
Tamil Nadu based bank, Lakshmi Vilas Bank has recently launched a co-branded credit card in collaboration with State Bank of India and Payment Services. This launch has been done to commemorate Lakshmi Vilas Bank’s 90th anniversary. The Lakshmi Vilas Bank-SBI Credit Card will be offered to a target 10,000 customers in its launch phase. The Visa SimplySAVE credit card and the Visa Platinum Credit Card would be offered to customers, leveraging benefits from both the banks. Lakshmi Vilas Bank plans to grow aggressively following this partnership with SBI, which is a leading public sector lender with a customer base of 3.2 million. LVB Mobile, a mobile application was also introduced to facilitate mobile banking transactions for customers.
25th November 2015