LIC Axis Bank Signature Credit Card

Eligibility Criteria

LIC Axis Bank Signature Credit Card: All You Need To Know

The LIC Axis Bank Signature Credit Card is an ultra-premium offering that brings together the strengths of two giants in the field of finance: Life Insurance Corporation of India and Axis Bank. This card is designed to cater the demanding needs of the lifestyle of our high-net-worth customers many unrivaled benefits and features in the crowded card market. We shall examine the various features and benefits of this card in the detailed brochures.

Card details

The LIC Axis Bank Signature Credit Card, in its very nature, is a Visa Signature card and a card positioned in the higher layers of credit card offerings. Here are some key details about the card.

1. Card Type: Visa Signature

2. Annual Fee: ₹3,500 + GST (first-year fee waiver)

3. Joining Fee: Nil

4. Rate of Reward: Will carry 5 reward points on every ₹100 spent on dining, groceries, and departmental stores; 3 reward points on every ₹100 spent on all other spends

5. Credit Limit: Starting usually from ₹3 lakhs, but may differ according to the applicant’s credit suitability

6. Interest Rate: 3.5% per month (42% per annum)

7. Interest – Free Credit Period: Up to 50 days

Please check these requirements and confirm with Axis Bank.

Other Guidelines

Since the LIC Axis Bank Signature Credit Card is meant for high-income individuals, the eligibility criteria would be specific:

1. Age: 21–70 years

2. Minimum: Rupees 12 lakhs p.a. income

2. Employment Type : Salaried or Self-Employed

3. Credit Score : A good Credit Score, ideally of 750 and aboe

4. LIC Policy : A worthy LIC policy holder has high likelihood of his / her application being approved, but it is not mandatory everywhere.

For Salaried besides:

Applicant should be in employment with a decent company.

Minimum 1 year work experience in the current company or 2 years of work experience is essential in the total work experience.

For Self-Employed Professionals :

– Should have a stable business and have been in operation for a minimum of 3 years

– ITR filings for the previous 2 years

Please note that if a person complies with all of the above requirements, that in itself does not guarantee a loan is sanctioned, as there are other factors the bank looks at for such purposes. In addition, Axis Bank may have special offers or relaxed criteria in the case of existing Axis Bank persons or high-value LIC policyholders.

Documents to be submitted

Overall, for an LIC Axis Bank Signature Credit Card application, the documents you need are:

1. Duly filled application form

2. Passport size photographs

3. PAN Card [mandatory] and any one of Aadhaar Card, Passport, Voter ID, or Driving License under Identity Proof

4. Under Address Proof, you can submit any one of the following – Aadhaar Card, Passport, Voter ID, Driving License, or Utility Bills that are not more than 3 months old

5. Income Proof:

   In Case of Salaried:

– Salary slips for the last 3 months

   – Last 2 years of Form 16 or IT Returns

   – Bank statements of the last 3 months showing the salary credits

For Self-Employed Professionals:

   – Last 2 years of IT Returns

   – Bank statements for the last 6 months

6. LIC Policy Details (Wherever Available): Policy number along with premium payment receipts

Some other documents may also be needed other than the above-stated case to case differences or further satisfaction of the bank.

Card Features & Benefits

The LIC Axis Bank Signature Credit Card has a multitude number of features and benefits that would make the cardholder’s lifestyle even richer:

1. Reward Points:

– Get 5 reward points for every ₹ spent on dining, groceries, and departmental stores

  – Get 3 reward points for every ₹ spent on all other categories

  – Use the points to purchase a wide range of products, services or pay for your travels

2. Welcome Benefits:

   – When you spend ₹50,000, within 60 days, of fee realization, get 10,000 bonus reward points

Travel Benefits:

   – Free membership of Priority Pass with two free international lounge use in a year

   – Air accident insurance, lost baggage cover, travel insurance, and trip delay reimbursement

   – Waiver of fuel surcharge at any petrol pump in the country

4. Lifestyle Benefits:

– Complimentary rounds of golf across selected golf courses in India (allowed only a set number of times per year)

   – Dining discounts available at partner restaurants with savings of up to 15%

   – Special booking discounts on hotels and rental cars

5. Insurance and Protection:

   – Coverage on all purchased items in case of theft or accidental damage

   – Extension of warranty on some electronics and home appliances

– Credit shield for the balance in a case of unexpected eventualities

6. LIC Premium Payment Benefits

   – Bonus reward points on LIC premium payments

   – Large LIC premium payments can be converted into EMIs at any time

7. Exclusive Offers

   – Access to Visa Signature Luxury Hotel Collection

   – Visa Concierge Services for guidance on booking travel, hotel stay, and dining

Card Description

The LIC Axis Bank Signature Credit Card is a lifestyle, not just a payment card of convenience. The card has a premium metallic finish, adding to the class and status attached to it. The power of the partnership is distinctly noticeable through the prominent display of the LIC and Axis Bank logos.

This is the card for the high-end human who finds value in their financial products. It packs several fringe benefits for the regular traveler, from access to airport lounges and a bouquet of travel insurances to exclusive dining programs and boosted reward points for dining out.

The real gem this card offers comes in the structure of its rewards, with accelerated earning on purchases in popular spending categories such as dining and groceries. Together with the flexibility to redeem your points for a vast amount of types of goods and services, the consumer makes the most value offered by their spending each day.

It will definitely provide added convenience and leverage for the customers holding LIC policies, with sure coffers to give more financial strength to the relationship that they have with both LIC and Axis Bank. Other prize benefits include the extra rewards for policy premium payments and the option available to convert large premiums into easy EMIs.

While this might seem hefty for just an annual fee, the rich array of benefits and welcome offers, and the fact that the fee is waived for the first year, make this quite a pretty attractive deal for anyone that could make use of everything it comes with. But like any other credit product, it’s quite important that potential applicants consider properly their spending patterns and financial goals to see if the card is actually a fit for their needs.

In summation, the LIC Axis Bank Signature Credit Card is one of the premium offerings in the Indian credit card market. This card ties all the elements of rewards, travel benefits, and lifestyle perks all in one, making it one of the most powerful financial tools and doors to amplified experiences for those who qualify.