New Delhi: IDFC FIRST Bank, LIC Cards and Mastercard have announced their collaboration to launch an exclusive co-branded credit card. Available in two variants — LIC Classic and LIC Select, the credit cards are loaded with many exciting benefits such as no joining & annual fees and low interest rates starting from 9% p.a.
LIC Classic and LIC Select, the credit cards will provide more than 27 crores policyholders across the country an opportunity to save in the form of reward points on every LIC insurance premium payment.
It will also come with other benefits, including up to Rs 50,000 cover for lost card liability and a personal accident insurance cover of up to Rs 5 lakh. Cardholders will also be able to redeem reward points against any online purchase, including upcoming LIC insurance premiums, making it as good as cash.
Both the variants of the card will also be packed with travel benefits, such as complimentary access to lounges at airports and railway stations, and various protective covers such as personal accident insurance.
Additionally, cardholders also get to avail a 1% fuel surcharge waiver along with roadside vehicle assistance worth Rs 1,399.
“I firmly believe that the co-branded credit card will bring rewarding experience to all our customers and will provide significant digital tool for making their life secure,” said Siddhartha Mohanty, Chairperson, LIC Cards.
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