M16S / IDFC First Bank / IDFC LIC Select Credit Card
mid · cobrand, rewards, lifetime-free
IDFC LIC Select Credit Card
The IDFC LIC Select Credit Card charges no annual fee and no joining fee. Its base return is 1% (5X = 5 points per Rs 125 on other spends). The forex markup is 0%. Lounge visits in India: 2 per quarter. Read from the issuer's own documents on 11 Oct 2026.
- Annual fee
- Free
- Fee waived at
- —
- Base return
- 1%
- Forex markup
- 0%
- Interest
- 3.85%a month
Apply on idfcfirst.bank.inOpens the bank’s own page.
Fees
| Joining fee | Free |
|---|---|
| Annual fee | Free |
| Fee notes | Lifetime free. |
Rewards
| Welcome benefit | 2,000 points on Rs 10,000 spend within 30 days; 5% cashback up to Rs 1,000 on first EMI |
|---|---|
| Reward currency | Reward Points |
| Base earn | 5X = 5 points per Rs 125 on other spends |
| Base return | 1% |
| Point value | 1 point = Rs 0.25 |
| Accelerated earn | 10X = 10 points per Rs 125 on LIC premiums paid on licindia.in. App travel: bonus points on hotel and flight bookings. |
| Caps | 10X on only the first 5 LIC premium payments per statement cycle. Essentials (grocery, utilities, railways, FASTag, education, government) earn 5X capped at 600 points a month. |
| Spends that earn nothing | Fuel, rent, non-LIC insurance, EMI transactions, cash withdrawals |
| Points expiry | 3 years from the date earned |
| Reward notes | base_return_pct = 5 points per Rs 125 x Rs 0.25 = 1.0%; LIC premiums 2.0%. |
Travel and perks
| Domestic lounge | 2 per quarter |
|---|---|
| International lounge | None |
| Lounge conditions | Railway lounges: 4 per quarter. Spend condition not stated on the page. |
| Forex markup | 0% |
| Fuel surcharge waiver | 1% on Rs 200-5,000 txns, cap Rs 300 per month |
| Other freebies | Personal accident cover Rs 5 lakh; air accident cover Rs 1 crore; travel insurance Rs 4,000 per event; roadside assistance |
Charges and eligibility
| Interest per month | 3.85% |
|---|---|
| Late payment fee | 15% of total amount due, min Rs 100, max Rs 1,300 |
| Cash advance fee | Rs 199 per transaction; interest-free up to 45 days |
| Eligibility | No LIC policy needed; existing IDFC FIRST credit cardholders are not eligible |
| Fine-print notes | APR 8.5% to 46.2% (0.71% to 3.85% a month). Over-limit fee 2.5%, min Rs 550. Rs 99 redemption fee. |
Questions
- What is the annual fee of the IDFC LIC Select Credit Card?
- No annual fee.
- Does the IDFC LIC Select Credit Card give airport lounge access?
- Yes. In India: 2 per quarter. Outside India: none listed. Conditions: Railway lounges: 4 per quarter. Spend condition not stated on the page.
- What is the forex markup on the IDFC LIC Select Credit Card?
- 0% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the IDFC LIC Select Credit Card?
- Fuel, rent, non-LIC insurance, EMI transactions, cash withdrawals