LIC Axis Bank Signature Credit Card
Axis Bank and LIC Cards jointly issue the LIC Axis Bank Signature card as a lifetime-free co-brand carrying no joining or annual fee. It earns 2 reward points per ₹100 on LIC premium payments and international spends, and 1 point per ₹100 on other eligible purchases, while fuel, utility and telecom bills, rent, wallet loads, education, government payments and EMI conversions earn nothing. Because LIC's own catalogue prices a ₹1,000 Amazon voucher at 1,000 points, a point converts to close to ₹1 — meaning the card returns roughly 2% on premiums and international spending and roughly 1% on everything else. Keep two things in mind before counting on that: points lapse 12 months after they're credited, and every redemption request carries a ₹30-plus-GST handling charge. On top of the earn rate, cardholders get up to 8 domestic lounge visits a year (gated by a ₹50,000 quarterly spend requirement), a 1% fuel surcharge waiver, dining discounts via Axis Dining Delights, and cover for liability from a lost card. Running on the Visa Signature network, it's a low-obligation card aimed squarely at LIC policyholders.
Key features
A quick look at what makes this card worth holding.
Welcome Benefit
~₹300 in vouchers, points or cashback when the card is activated
1.9% on Insurance
Earn 2 points per ₹100 (~2%) when paying LIC policy premiums through LIC's official payment gateways — third-party payment apps don't qualify
1.9% on International
Earn 2 points per ₹100 (~2%) on spends billed in a foreign currency
️ Airport Lounge Access
2 free visits per quarter at participating domestic and international lounges
Lifetime Free
No annual fee at any stage — hold it indefinitely at zero recurring cost
Fuel Surcharge Waiver
1% waiver on fuel purchases, capped at ₹400 a month
️ Insurance Cover
Free cover against liability for a lost card, up to your credit limit
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Insurance | reward points | 1.9% | — |
| International | reward points | 1.9% | — |
| Other | reward points | 0.95% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | Lifetime free |
| Joining fee (incl. 18% GST) | Free |
| Finance charge (APR) | 3.75% p.m. |
| Forex markup | 3.5% |
| Fuel surcharge waiver | 1%, cap ₹400 |
Perks & benefits
Non-reward benefits worth roughly ₹3,900 a year combined.
️ lounge access ~ ₹3,000 /yr
2 free domestic lounge visits per calendar quarter (max 8/year), unlocked once ₹50,000 was spent in the preceding 3 calendar months
️ insurance ~ ₹500 /yr
Free cover against liability from a lost card, up to your credit limit
fuel waiver ~ ₹400 /yr
1% surcharge waiver on fuel purchases between ₹400 and ₹4,000, capped at ₹400 monthly
Should you get it?
Best for: LIC policyholders who pay premiums by card, Anyone wanting a fee-free card with lounge access and insurance cover
An entry-level pick — solid for first-time cardholders and those with lower spending.
Delivers the most value if a large share of spend goes toward Insurance ( 1.9% back).
The bundled airport lounge access adds real value for people who travel often.
✓ Pros
- No joining fee, no annual fee, ever
- 2 points per ₹100 on LIC premium payments — nearly 2% back on a bill you're already paying
- Points redeem near ₹1 apiece through LIC's own catalogue
- 100% cashback up to ₹300 on the first utility bill paid within 30 days of card issuance
- As many as 8 free domestic lounge visits a year once the ₹50,000 quarterly spend condition is met
- 1% fuel surcharge waiver, up to ₹400 monthly
✕ Cons
- Points lapse 12 months after being earned
- A ₹30-plus-GST fee applies to every redemption, which hurts most on small redemptions
- No rewards on fuel, utilities, telecom, rent, wallet loads, education, government payments or EMIs
- Lounge access depends on ₹50,000 of spend in the prior 3 months — it isn't guaranteed
- Redemptions only run through the LIC Cards catalogue by phone call, with no option on the Axis EDGE portal
Eligibility & documents
Age
18 –70 years
Min. income
₹30,000 /mo
Employment
Salaried · Self-employed
Documents required
- PAN card
- Aadhaar / valid address proof
- Latest 3 months bank statement
- Income proof — salary slips (salaried) or ITR (self-employed)
- Recent passport-size photograph
How to redeem rewards
The ways to turn earned points into value.
🎁 Redeem through the LIC Cards catalogue (liccards.in), reachable at 1800 419 0064 — e-vouchers, Axis virtual gift cards and merchandise, valued close to ₹1 per point
🎁 Each redemption request adds a ₹30-plus-GST handling charge
🎁 Points stay valid for one year from the date earned
What your Axis EDGE Reward Points are worth
What a point is actually worth depending on how you redeem it — the gap is where most cardholders lose value.
EDGE Rewards cashback BEST Standard EDGE Reward Points
EDGE Rewards vouchers BEST Gift-voucher catalogue
Travel EDGE portal BEST Flights & hotels
The concern Because points expire after 12 months and every redemption costs ₹30 plus GST, infrequent spenders can end up losing a meaningful chunk of what they earned. Lounge access also isn't unconditional — it requires ₹50,000 of quarterly spend — and redemptions go through a phone call to the LIC catalogue rather than an app or portal.
The bottom line
A card that costs nothing and earns more than expected: around 1% on ordinary spending and about 2% on LIC premiums and international transactions, once points are valued at LIC's actual catalogue rate. Don't count on the lounge visits, though — all 8 only unlock in quarters preceded by ₹50,000 of spending, roughly ₹2 lakh a year, on a card most people carry mainly for the premium payments. Treat it as a free card earning around 1%, with a strong LIC accelerator and the lounges as a bonus rather than the main draw.
Sources & verification
Fees, reward rates, and benefits for the LIC Axis Bank Signature Credit Card are taken from Axis Bank 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 13 Aug 2026 . Reviewed by SarvCred Editorial Team . Always confirm current details on the issuer's site before applying. How we research →
Independence. SarvCred is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for Axis Bank . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
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