LIC CARDS SERVICES LIMITED

About LIC Cards

LIC Cards Services Ltd., (LIC CSL) was incorporated on 11th November 2008 as a wholly owned subsidiary of LIC of India with the capital of Rs. 1 crore. The objective of the Company is to provide Credit Card services to LIC Employees, Club Member Agents and Policyholders. LIC CSL is having its Corporate Office at Delhi and presently operational in 12 Area Offices at Ahmedabad, Bangalore, Bhopal, Chandigarh, Chennai, Delhi(Outside), Delhi (Local), Hyderabad, Kolkata, Mumbai, Lucknow and Patna.

Presently the Company has tie ups with Axis Bank, Union Bank of India and IDBI for issuance of Credit Cards under Co-branded / White Label Agreement. LIC CSL offers free Credit Cards with lots of attractive benefits embedded into it. The Cards are of “Chip-and-Pin” variant which ensures maximum security to the Card holders. LIC Cards are Life Time Free i.e. there is no Joining Fee, Annual Fee and Renewal Fee on the Cards issued. LIC Credit Card offers a convenient and alternate mode of Premium Payment with Double Reward Points and Nil Convenience Charge.

Some of the salient features of LIC Cards are as follows:

1. Free Accidental Insurance of Rs. 5 Lacs (in Signature Card powered by Axis Bank), Rs. 3 Lacs (in Platinum Card powered by Axis Bank) and Rs. 2.5 Lacs (in Platinum Card powered by Union Bank).

2. Attractive Reward Points on every spend of Rs 100/-.

3. Double Reward Points on all International Spends.

4. Double Reward Points on payment of LIC premium without charging any convenience fee.

5. Airport Lounge facility on selected Airports for Signature Cardholders on payment of token amount of Rs 2/- only (Twice in each Quarter).

6. Interest Free Credit Period of 20 – 50 days.


LIC CSL is co-branded partner with Axis Bank for issuing Gift Cards to the Employees, Agents, Subsidiaries, Group Insurance Master Policyholders of LIC. The Company has also entered into an Agreement with IDBI Bank for issuing Credit Card, Gift Card (Shagun) and Sodexo for issuing Meal Cards.

As on 31.03.2021, the total Credit Card portfolio has increased to 3, 47,428 from 3, 24, 057 as on 31.03.2020. During the year 2020-21, the Company has issued 23,730 Credit Cards. The Company exceeded the income budget on various counts, 132.60 percent in Revenue from Spends, 136.89 percent in income from Meal Cards and 186.04 percent in interest and other income. Overall the Company surpassed the total revenue by achieving 118.58 percent budget and revenue of Rs. 11.85 Cr. in 2020-21. The Company achieved Gross Profit of Rs. 5.29 Cr.

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