By Divya Shokeen
Updated On October 15, 2021

Life Insurance Corporation offers a LIC Gold EMV Credit Card to cater to the needs of first-time credit card users. With this card, you can enjoy insurance benefits and shopping benefits. You can get this credit card with no joining and renewal fee. Keep reading to know more about the LIC Gold EMV credit card’s features and benefits.

LIC Gold EMV Credit Card

Best Suited For

Fuel | Shopping |

Joining Fee

NIL

Reward Type

Reward Points |

Product Details

  • The LIC Gold EMV Credit Card comes with no joining fee.
  • This card is valid for 5 years.
  • Earn 1 reward point on every Rs. 150 spent on this credit card.
  • Get personal accident cover of up to Rs. 1 lakh.
  • Get a credit shield of upto Rs. 50,000 in case of permanent disability.
  • Get purchase protection of Rs. 50,000.
  • Get an interest-free credit period of 15 to 45 days.
  • 1 reward point = Rs. 0.25.

Rewards and Benefits

Welcome Benefits

NA

Movie & Dining

NA

Rewards Rate

You can earn 1 reward point on spending every Rs. 150 using this card. 1 RP = Rs. 0.25.

Reward Redemption

Reward points can be used for clearing credit card outstanding. They can also be redeemed towards home and lifestyle products as well as dining and shopping benefits A minimum of 1,000 reward points can be redeemed towards the credit card balance.

Travel

NA

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

Covers personal accident insurance of up to Rs. 1 lakh and a credit shield of upto Rs. 50,000 in case of permanent disability with this credit card. You also get purchase protection of Rs. 50,000.

Zero Liability Protection

NA

Fees & Charges

Joining Fee

NIL

Renewal Fee

Nil

Spend based Waiver

NA

Rewards Redemption Fee

Rs. 30 + GST

Rewards Redemption Fee

Rs. 30 + GST

Foreign Currency Markup

3.50% on the conversion amount

Interest Rates

2.75% p.m. (33% p. a.)

Fuel Surcharge

Avail 2.5% fuel surcharge waiver at all petrol pumps in India. Minimum of Rs. 10.

Cash Advance Charge

2.5% or a minimum of Rs. 250.

Add-on Card Fee

NIL for the first and Rs. 100 is charged for every other additional add-on credit card.

LIC Gold EMV Credit Card Rewards

  • LIC Gold EMV card lets you earn 1 reward point on every Rs. 150 on using the credit card.

Reward redemption

  • You can redeem your reward points against your credit card outstanding on the LIC Gold EMV credit card.
  • This credit card lets you redeem the accumulated reward points for purchasing a home and lifestyle products as well as dining and shopping vouchers.
  • On this card, a minimum of 1,000 reward points for redemption.
  • 1 reward point is equivalent to Rs. 0.25.

Insurance benefits

  • LIC Gold EMV covers a personal accident cover up to Rs. 1 lakh and a credit shield of upto Rs. 50,000 in case of permanent disability.
  • On this card, you also get a purchase protection cover up to Rs. 50,000 upto 60 days.

Other Benefits

  • You get a 2.5% fuel surcharge waiver (minimum of Rs. 10) on the LIC Gold EMV credit card.

Eligibility & Document

The applicant must check the eligibility requirement and the documents before applying for a LIC Gold EMV Credit Card.

Eligibility Criteria
  • He/She should be a citizen of India.
  • The age requirement lies between 18-60 years.
  • He/she should be either salaried or self-employed.
  • He/she must have maintained a good credit score between 700-750.
Documentation Required
  • The applicant must attach address proof (any one - Aadhar card, Voter ID, and Passport)
  • He/she is also required to submit income proof (any one - Bank Statement or salary slip of last 3 months, last 2 years’ audited financial report, etc)
  • The applicant is also required to submit any one  Identity Proof (Aadhar Card, Driving License, Voter ID)

Conclusion

LIC Gold EMV Credit Card is a basic level credit card that offers not just shopping benefits but insurance benefits too. On this card, you can earn 1 reward point on every Rs. 150 spent. Moreover, you also get fuel benefits on this card, you get a waiver of a 2.5% fuel surcharge as compared to other credit cards.
This card is worth considering if you are planning to apply for a credit card as it comes with zero joining and an annual fee. Comment down your reviews about the LIC Gold EMV Credit Card and its features, also would you like to go for it or not? You can also check the LIC Platinum EMV Credit Card.

FAQs:

The credit cardholder can Call on customer care number 1800-419-0064 to redeem their reward points earned on the LIC Gold EMV credit card.

Unfortunately, no you do not get travel benefits on the LIC Gold EMV Credit Card.

Yes, you are charged Rs. 30 + GST while redeeming reward points on the LIC Gold EVM credit card.

No, you do not get movie and dining benefits on the LIC Gold EMV credit card.

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