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ICICI Bank Parakram Credit Card
The base tier of ICICI's Defence and Paramilitary personnel co-brand series — a zero-fee card carrying useful insurance cover and modest everyday rewards, one step below the Parakram Select's richer lounge and golf benefits.
Annual fee
₹0
Joining fee
₹0
Reward type
points
Base reward rate
0.25%
Card network
Visa
Card tier
Entry
Who this card fits
Best suited to salaried applicants who clear the standard eligibility bar whose spend is concentrated in groceries, fuel. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 0.25% base rate
- Domestic lounge access: 1 complimentary domestic airport lounge visit per quarter (min ₹75,000 quarterly spend)
- Insurance benefits: ₹2 lakh personal accident cover and ₹20 lakh air accident cover
Benefits by category
- 🛒 Groceries
1.25% reward rate
- ✈️ Travel
1 complimentary domestic airport lounge visit per quarter (min ₹75,000 quarterly spend)
- 🛡️ Insurance
Personal accident insurance cover of ₹2 lakh and air accident insurance cover of ₹20 lakh
- ⛽ Fuel
1% fuel surcharge waiver at all fuel stations
- 🌍 Forex / international spend
3.5% forex markup on international transactions
Eligibility
- Employment: salaried
Fees & charges
- Rewards redemption fee: Free for redemption as statement credit or ICICI's own reward catalogue vouchers; ₹99 + GST per redemption request for select third-party gift/merchandise catalogue items
- Foreign currency markup: 3.5%
- Fuel surcharge waiver: 1% fuel surcharge waiver at all fuel stations
- Cash advance charges: 2.5% of the transaction amount or ₹500, whichever is higher, plus applicable GST
Benefits
- 1 complimentary domestic airport lounge visit per quarter (min ₹75,000 quarterly spend)
- Personal accident insurance cover of ₹2 lakh and air accident insurance cover of ₹20 lakh
- 1% fuel surcharge waiver at all fuel stations
Pros
- + Lifetime free for Defence/Paramilitary personnel
- + ₹2 lakh personal accident plus ₹20 lakh air accident insurance included
- + Fuel surcharge waiver at all fuel stations, not restricted to one brand
- + Quarterly domestic lounge access at zero cost
Cons
- − Restricted to Defence and Paramilitary personnel
- − Modest base reward rate of 1 point per ₹100
- − Lounge access gated behind a ₹75,000 quarterly spend threshold