Product Features of Eclat Card
Parameters |
IDBI Bank-LICCSL ‘Eclat’ Credit
Card |
Card Network and
Variants |
(Network franchisee to be decided by Bank) |
Credit Limit |
Minimum Credit Limit – Rs. 2,00,000/- Maximum Credit Limit - as per credit eligibility or Rs. 10 Lac
whichever is lower |
Delight Points
(Rewards Points) |
4 Delight Points on
every purchase transaction of Rs. 100/- [1 Point = Rs 0.25] |
Welcome Bonus
Delight points |
1,500 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.
5000 [maximum Rs. 500 per month] |
Airport lounge
access |
Yes, 02 per quarter
|
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, up to 02
Add-on cards will be issued. |
Card Validity |
4 Years |
Minimum Amount Due |
5% of billing
amount or Min 200/- |
Personal Accident
& Permanent Disability Insurance |
Rs. 5.00 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 Eclat Credit Card
Sr. No. |
Criteria |
Description |
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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 |
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2 |
Geographical location |
As per the approved list of
cities mutually agreed between IDBI Bank and LIC Cards. |
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3 |
Age Norms |
Minimum : 21 (Add-on Cards- 18
years) Maximum : 60 for salaried and
65 for Self Employed/Retired/Pre-approved category |
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4 |
Work Experience |
Self
Employed: Minimum 2
Years # to be ensured by LICCSL- Marketing
Channel |
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5 |
Minimum Income Norms |
Salaried: Minimum
Net Adjusted Income to be Rs. 75,000/- p.m. Self Employed: Minimum Net Adjusted Annual Income >= Rs. 12, 00,
000 (as per ITR) across all locations. |
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6 |
FOIR (Fixed Obligation to
Income Ratio) |
Maximum FOIR of 70% |
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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.
|
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8 |
Mobile Connection |
Mandatory |
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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. |
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10 |
Previous Rejected Application |
Customer application for a
credit card should not have been rejected by the Bank in the last 6 months. |
LIC Eclat Card by IDBI