Parameters |
IDBI
Bank-LICCSL ‘Lumine’ Credit Card |
Card Network and Variants |
(Network franchisee to
be decided by Bank) |
Credit Limit |
·
Minimum
Credit Limit – Rs. 50,000/- ·
Maximum
Credit Limit - as per credit eligibility or Rs. 5 Lac whichever is lower |
Delight Points (Rewards Points) |
3 Delight Points on
every purchase transaction of Rs. 100/- [1 Point = Rs 0.25] |
Welcome
Bonus Delight points |
1,000
Delight Points on spending a total of Rs. 10,000 within 60 days from the date
of Card issuance. |
LIC Payment |
· 2X
points on LIC Payments · Convenience
Fee will be waived off. |
Redemption Criteria |
·
Can be
redeemed against only available merchandise items. ·
Minimum 1,000 Delight Points required for
redemption. ·
Minimum Loading of 4000 Delight Points in case of
redemption through IDBI Bank Gift Cards. ·
No Cash back/e-com/in-store redemption allowed. |
Fuel surcharge waiver |
1% Fuel Surcharge Waiver for a minimum transaction of Rs. 400
and maximum transaction of Rs. 4000 [maximum Rs. 300 per month] |
Airport lounge access |
NA |
Zero Lost Card Liability |
Yes |
EMI facility |
Minimum Transaction
Amount: Rs. 3000/- (excluding cash withdrawal, fuel purchase,
Jewelry transactions) Interest Rate:
13% per annum (fixed) Processing Fees and
foreclosure fees: NIL Tenure Options:
3, 6, 9 or 12 month |
Interest Free Credit period |
Maximum 48 days |
Cash Advance Limit |
15% of credit limit |
Other Privileges |
Applicable Bank &Network franchisee offers |
Add-on card |
Yes, 01 Add-on card will be issued. |
Card Validity |
4 Years |
Minimum Amount Due |
5% of billing amount or Min 200/- |
Personal Accident & Permanent Disability Insurance |
Rs. 2.00 lakh sum assured |
Credit Shield Cover |
Yes |
Book My Show Offer |
Buy 1 Get 1 Movie ticket Offer (On 2nd& 4th
Weekend) |
Eligibility Criteria for Lumine Credit Card
Sr. No. | Criteria | Description | ||||
1 | Eligible Applicants | 1. Must be Employees /
Agents/ Policyholders of LIC and its Subsidiaries/Associates. 2. Must be Resident
Indians. 3. Must be
Salaried/Retired (max. age 65)/ Self Employed with consistent source of
income. 4. Customers with only
commission income (except for LIC Agents)/Rental Income/Interest Income will
not be eligible under normal category. 5. Salaried employees
working in Proprietorship Firms & Partnership Firms and contractual
employees are not to be considered. 6. Should not have
existing Credit Card with IDBI Bank | ||||
2 | Geographical location | As per the approved list of cities mutually agreed between IDBI
Bank and LIC Cards. | ||||
3 | Age Norms | Minimum : 21 (Add-on Cards- 18 years) Maximum : 60 for salaried and 65 for Self Employed/Retired/Pre-approved
category | ||||
4 | Work Experience | Salaried: Minimum 1 Year Self Employed: Minimum 2 Years # to be ensured by LICCSL- Marketing Channel | ||||
5 | Minimum Income Norms | Salaried: Minimum Net
Adjusted Income to be Rs. 30,000/- p.m. Self Employed: Minimum Net
Adjusted Annual Income >= Rs. 4, 80, 000 (as per ITR) across all
locations. | ||||
6 | FOIR (Fixed Obligation to Income Ratio) | Maximum FOIR of 70% | ||||
7 | CIBIL Credit Vision Score | · Minimum Score of 740 · Minimum Score of 700
for LIC Employees · The cases with eligible scores and a mention in the CIR as "CREDIT AGE LESS THAN SIX MONTHS" will be offered the limit based on the eligibility and extant Credit Underwriting norms, subject to the maximum limit (based on NAI) defined below.
| ||||
8 | Mobile Connection | Mandatory | ||||
9 | Verification | Positive Field Investigation Report * Waived off for Customers who have availed HL, LAP or EL
from IDBI Bank Ltd. and such loan is Live with satisfactory track record. * Waived off for Employees of LIC and its
Subsidiaries/Associates, LIC Corporate/MDRT/Galaxy/CM /ZM Club Agents. | ||||
10 | Previous Rejected Application | Customer application for a credit card should not have been
rejected by the Bank in the last 6 months. |
LIC Lumine Card by IDBI