With a LIC credit card, you will get rewards on insurance premiums and a Rs. 5 lakh insurance cover; there are no additional costs

 With a LIC credit card, you will get rewards on insurance premiums and a Rs. 5 lakh insurance cover; there are no additional costs

With a LIC credit card, you will get rewards on insurance premiums and a Rs. 5 lakh insurance cover; there are no additional costs

LIC has just introduced its new credit card. LIC Classic and LIC Select are the two co-branded credit cards that IDFC First Bank, LIC Cards, and MasterCard have introduced.

LIC has just introduced its new credit card. LIC Classic and LIC Select are the two co-branded credit cards that IDFC First Bank, LIC Cards, and MasterCard have introduced. With regard to these two new LIC credit cards, customers are receiving a variety of incentives. With LIC's recently released credit card, you may get benefits like low interest rates, no joining fees, reward points, and accidental coverage up to Rs 5 lakh.

Not required by LIC policy

Let us inform you that you may still apply for a LIC credit card even if you do not already have a policy with LIC. For these credit cards, a LIC insurance is not required. On the other hand, if you pay your insurance premium using your LIC credit card, you will get reward points.

The LIC Classic Credit Card

As to the IDFC First Bank website, the LIC Classic Credit Card offers several advantages.

There is no yearly fee and no joining cost.

Interest rates begin at 0.75% monthly or 9% annually. It may go up to 3.5% monthly or 42% annually.

ATMs both domestically and internationally will provide interest-free cash withdrawal services for a period of 48 days.

You will be charged Rs 199 for each transaction if you use EMI.

15% of the whole amount due will be charged as a late payment fee. Rs. 100 is the least and Rs. 1,250 is the highest.

The foreign exchange markup charge for all transactions will be three and a half percent.

The LIC Select Credit Card

The LIC Select Credit Card offers several advantages, according the IDFC First Bank website.

There is no yearly fee and no joining cost

Interest rates begin at 0.75% monthly or 9% annually. It may go up to 3.5% monthly or 42% annually.

ATMs both domestically and internationally will provide interest-free cash withdrawal services for a period of 48 days.

You will be charged Rs 199 for each transaction if you use EMI.

15% of the whole amount due will be charged as a late payment fee. Rs. 100 is the least and Rs. 1,250 is the highest.

The foreign exchange markup charge for all transactions will be three and a half percent.

Joining LIC Credit Card Offers Benefits

After spending the first Rs 5,000 within 30 days of the card's establishment, you will get 1,000 reward points. Within 30 days after the creation of the card, there will be a 5% cashback offer (up to Rs 1000) on the amount of the first EMI transaction.

Get Rs 500 discount while using Yatra to book domestic travel.

Get Rs. 500 discount at MyGlamm on orders of Rs. 899 and more.

Free six-month subscription to FarmEasy Plus, valued at Rs 399

LIC credit card insurance advantages include a one-year complimentary membership to Lenskart Gold, valued at Rs. 500.

After using the LIC Classic Credit Card for at least one transaction, a personal accidental insurance of Rs. 2,00,000 would be available.