The verdict
A no-fee defence card with lounge, golf and category points, subject to eligibility, qualifying-spend and program terms.
The maths for it
No joining or annual fee is listed. Benefit quantities are stated, but their realized rupee value is not established.
The maths against
Point redemption value, lounge eligibility details and insurance exclusions are not fully established by this capture.
✓What works
- +Nil joining and annual fee on the product page.
- +2 international lounge visits annually and 2 domestic visits quarterly, with the stated domestic spend gate.
✕What doesn't
- −Restricted to eligible Indian Defence and Paramilitary personnel.
- −Reward redemption and benefit program conditions need further verification.
What it earns
10 points/₹100 on the listed grocery, department-store and CSD categories; 2 points/₹100 domestic spend. Category and exclusion terms need checking.
| Category | Rate | Monthly Cap | Per ₹1L spent |
|---|---|---|---|
| Groceries, department stores and CSD canteens | 10 points / ₹100 | — | — |
| Domestic spend | 2 points / ₹100 | — | — |
Accelerated earn
This card does not offer merchant portal or accelerated multiplier rates.
Redemption options
The page lists merchandise and voucher redemption categories; point value and charges remain unverified.
Reward Scope: Inclusions & Exclusions
✓Eligible Spends (Inclusions)
- +1% fuel surcharge waiver advertised at any fuel outlet; transaction limits and caps unverified.
- +Air accident insurance up to ₹20 lakh and personal accident cover of ₹2 lakh, subject to policy terms.
Fee Schedule & Waiver Criteria
| Fee Component | Amount / Rate |
|---|---|
| Joining fee | Nil |
| Annual fee | Nil |
| Forex markup | 3.5%; tax and transaction conditions pending |
| Finance charge | 3.75% monthly stated for ATM withdrawal/minimum due; complete MITC scope pending |
Eligibility & Approval Criteria
| Criteria | Requirement |
|---|---|
| Applicant | Indian citizen over 21 and Indian Defence or Paramilitary personnel |
Frequently Asked Questions
Does ICICI Bank Parakram Select Credit Card offer airport lounge access?
Yes. 2 international/year; 2 domestic/quarter after ₹75,000 eligible preceding quarter spend
What are the MITC charges, annual fees, and interest rates for ICICI Bank Parakram Select Credit Card?
The annual renewal fee is Nil. Fee waiver condition: Joining and annual fees nil on official product page. Revolving balance finance charges: 3.75% monthly stated for ATM withdrawal/minimum due; complete MITC scope pending. Foreign currency markup: 3.5%; tax and transaction conditions pending. Check the current issuer MITC for other or missing charges.
What is the reward rate and point redemption value on ICICI Bank Parakram Select Credit Card?
Published earn rate: 10 points/₹100 groceries, department stores and CSD canteens; 2 points/₹100 domestic spend; point value unverified. Check the current issuer terms for point value.
Which transactions are excluded from earning rewards on ICICI Bank Parakram Select Credit Card?
Reward exclusions are not specified in the verified card details. Check the issuer terms for any fuel surcharge waiver.
Who is ICICI Bank Parakram Select Credit Card best suited for in 2026?
The card details describe it as suited to Eligible Indian Defence and Paramilitary personnel. Compare its terms with your spending and annual fee.
Editorial Deep-Dive Analysis
Comprehensive Overview: ICICI Bank Parakram Select Credit Card
The ICICI Bank Parakram Select Credit Card is a specialized, lifetime-free credit card thoughtfully designed to honor and serve personnel of the Indian Armed Forces, Paramilitary forces, and allied defence establishments. Combining premium lifestyle privileges with practical defence-centric benefits, this card pairs high rewards on canteen and household shopping with international and domestic travel conveniences at zero annual cost.
Key Privileges and Practical Everyday Benefits
- Lifetime Free Structure:
- Zero Joining Fee and Zero Annual Fee: The card is issued with nil joining and annual fees, providing premium financial benefits with no ongoing maintenance charges.
- Accelerated CSD and Essentials Rewards:
- Earn 10 reward points per ₹100 spent on grocery shopping, departmental stores, and purchases at official CSD (Canteen Stores Department) canteens.
- General Retail Rewards:
- Earn 2 reward points per ₹100 on domestic retail transactions.
- Comprehensive Travel and Lounge Access:
- International Airport Lounges: 2 complimentary international airport lounge visits per calendar year for the primary cardholder.
- Domestic Airport Lounges: 2 complimentary visits per calendar quarter to participating domestic airport lounges across India (activated upon achieving preceding-quarter spend threshold).
- Golf Privileges:
- Enjoy 1 complimentary golf round or lesson per calendar month at premier golf courses across India (spend-gated at ₹50,000 eligible spend in the preceding calendar month).
- Complimentary Insurance Protection:
- Complimentary Air Accident Cover of up to ₹20 lakh and Personal Accident Cover of up to ₹2 lakh, providing financial peace of mind for defence personnel and their families.
- Fuel Surcharge Relief:
- 1% fuel surcharge waiver on fuel transactions across fuel stations in India.
Important Terms and Spend Conditions to Keep in Mind
To ensure full clarity and optimal utilization, cardholders should keep the following operational criteria in mind:
- Eligibility Verification: This card is exclusively available to serving and veteran personnel of the Indian Army, Navy, Air Force, Coast Guard, and Paramilitary forces, verified through official defence service credentials.
- Quarterly Domestic Lounge Threshold: Domestic lounge access requires ₹75,000 eligible spend in the preceding calendar quarter, while international lounge visits are provided on an annual complimentary allocation.
- Golf Booking Criteria: Monthly complimentary golf rounds require ₹50,000 eligible spend in the preceding calendar month and must be reserved through the dedicated ICICI concierge portal.
- Reward Points Valuation: Accumulated points can be redeemed on the ICICI Rewards portal for shopping vouchers, merchandise, or travel bookings.
Who Benefits Most
- Serving and Veteran Defence Personnel: Officers, JCOs, and personnel seeking a premium, zero-maintenance credit card that acknowledges their service.
- Regular CSD Canteen Shoppers: Families making routine purchases at military canteens and grocery stores who want accelerated point accumulation.
- Personnel Stationed Across Air Bases and Metros: Frequent travelers who can utilize complimentary domestic and international airport lounges during official transit or family vacations.
Independent Editorial & Statutory Disclaimers
Institutional Transparency & Nominative Fair Use Statement
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📋 Official Bank Terms & Verification:Fee structures, reward multipliers, and lounge access rules are derived from publicly available Most Important Terms and Conditions (MITC) schedules and bank circulars. Card issuers retain the right to modify terms at their discretion. Outbound application links redirect users directly to the official bank portal, where the final decision on credit limits and issuance rests exclusively with ICICI Bank.
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