- The facility of online collection of renewal premium available at our select branches.
- Payment can be made in any one of the 25 identified Corpbank branches throughout the country by cash or cheque drawn on Corp bank branches
- Signed Premium receipt will be issued by the bank immediately at the counter.Single receipt will be issued if payment is made for more than one policy by the policyholder
- The receipt is valid and acceptable to the Income Tax Authorities. It has Mudrank number in lieu of revenue stamp. No other receipt will be issued by LIC.
- Premium can be paid for all policies, non-ULIP and non – SSS, which are in force.
- Premium can be paid 6 months before the due date to till the policy is in force. However, last premium before maturity under Quarterly and Monthly mode cannot be paid through this mode.
- This online payment facility have been enabled for 25 branches for pilot launch.
No extra charges will be collected by the bank.