|
Parameters |
IDBI
Bank-LICCSL ‘Lumine’ Credit Card |
|
Card Network and Variants |
Rupay |
|
Credit Limit |
On basis of Income Assessment |
|
Welcome
Bonus Delight points |
500 Delight Points on single transaction of Rs. 2,000 or more within 30 days of Card issuance. 500 Additional Points on card activation within 30 days of card issuance |
|
Milestone Benefits | Earn 1500 delight points on annual spend of above Rs 2 lakh Earn 2000 delight points on annual spend of above Rs 4 lakh The annual spends would be considered on the basis of the card issuance date and benefits are applicable once a year |
|
Redemption Criteria | Can be redeemed against cashback, e-vouchers and available merchandise items. Minimum 1,000 Delight Points required for redemption. Fees of Rs 20 plus taxes applicable for redemption between 1000 to 4000 points. No fees are applicable for redemption above 4000 points. Minimum Loading of 1000 Delight Points in case of redemption through cashback |
|
EMI facility |
Minimum Transaction
Amount: Rs. 3000/- (excluding cash withdrawal, fuel purchase,
Jewelry transactions) Interest Rate: 13% per annum Processing Fees and
foreclosure fees: NIL Tenure Options:
3, 6, 9, 12, 18, 24, 30 and 36 month |
|
Add-on card |
Yes, 02 Add-on card will be issued. |
|
Card Validity |
7 Years |
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