LIC Credit Card Bill Payment

With the world going digital many people prefer paying their bills through online mediums. LIC has also understood this trend and setup multiple ways that a person can pay their credit card bills.

LIC Net Banking:

To utilize the LIC Net Banking facility, LIC’s savings and current account holders must register for this service. Only after registration, online payments can be done by customers. Customers can also link their LIC credit cards to Net Banking account, after logging into their LIC Net Banking account.

Customers can access or view their LIC credit card information, credit card statements and unbilled transactions through the net banking facility for up to six months. All the net banking account will detail the billed/unbilled transactions, credit limit, due dates, reward points earned and outstanding dues. In case of loss or theft of credit cards customers can use the Hot listing facility available under the Net Banking facility to block you card and request for card replacements for which LIC does not charge any fee.

To pay your credit card dues log in to the net banking facility through the bank website and go into the credit card tab and select the “Credit Card Payment Option”. Pay your bills using your LIC savings account.

Autopay:

If you are worried that you might forget to pay your credit card bills, which is a very big problem for people with multiple credit cards then as an LIC customer you can pay your outstanding credit card bills using the Autopay option to set standing instructions for auto debits on their LIC accounts.

The total monthly outstanding amount or the minimum amount due on the LIC credit card can be repaid using the Autopay facility. The LIC savings account should be held by a single customer or as a joint account, with an ‘either’ or 'any' signing mandate.

LIC credit card payment – Online mode for non-LIC Account

You do not necessarily open an LIC account to have an LIC credit card, you can also pay your credit card bill using a non-LIC account. There are several ways that a person with an LIC credit card can pay their credit card bills through online transactions using other bank accounts. This convenient way of paying your LIC credit card bill through other banks works for LIC as well as other banks.

There are plenty of online modes of LIC credit card bill payment to clear your credit card dues using a non-LIC account. Some of them are mentioned here.

National Electronic Funds Transfer (NEFT)

You can pay your LIC credit card bill from any other bank account by using the NEFT facility. The instructions may vary slightly in different banks, but, in most cases you need to add your credit card number as the payee account number to make the payment through NEFT. Any payments made during the working hours on a weekday are credited on the same day while the payments made after working hours are credited on the next business day. To pay your bills use the IFSC code, “UTIB0000400.” to make NEFT payments towards your LIC credit cards.

Real Time Gross Settlement (RTGS)

For people who like to use their credit cards for large transactions, you can pay your credit card bills in one go using the RGTS mode even if they do not hold an LIC account. All you need to have is your net banking activated on your non-LIC account to carry out an RTGS transaction. Through RGTS, you can make payments for Rs. 2 lakhs and more. Any RTGS transactions are executed individually unlike NEFT which are processed in batches.

Visa Money Transfer

• Login to your net banking account and under ‘Fund Trasfer’ select ‘Visa Payment’.
• Contact your debit card issuing bank to know more about Visa Money Transfer.

LIC Website

Non-LIC account holders can use the Bill Desk web page which is set up for LIC credit card holders. Fill out the required details which also includes the credit card number and payment amount. The customers are then directed to the LIC net banking portal to complete the credit card bill payment. The customers will receive an online transaction confirmation as well as a Transaction Reference Number after a successful transaction. If they have given their email id, they will also receive an email with all the transaction details. To know if your bank can be used to avail this service you can see the list in the LIC website.

Your Non-LIC’s Website

In case you don’t have an LIC account you can pay your credit card bills by logging into your bank’s online payment portal using your unique net banking id and password and transfer the due amount. The process is very simple and consists of many more options including NEFT and RTGS. The bill payment will take 2 working days to be credited to your LIC account.

LIC credit card payment – Offline payment mode

There are many people who still consider paying their bills the traditional way. This could be due to two reasons – either they are not comfortable with the online methods or they don’t have access to the online payment modes. Either way they prefer to pay their bills offline. For such people LIC provides multiple ways by which any individual can pay their credit card dues.

Cash payment

You can pay your credit card bills by paying in cash at any one of the LIC branches nearest to you in your city. A processing fees of Rs. 100 per payment will be charged by the bank when you pay your credit card bill.

Cheque Or Demand Draft payment

If you prefer to pay your credit card bills using cheques or demand draft then you can do so in the same way as you would pay your credit card bills by paying cash. You can also drop of the cheques or drafts in any of the MINC Bill boxes, mentioning your credit card number. The cheques have to be dropped at least 4 days before the due date. The cheque should be drawn on a local bank and should not be postdated. The payment will get cleared within 3 working days.

LIC Credit Card Bill Payment FAQ