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REWARD POINTS CARD

ICICI Bank Parakram Credit Card

ICICI Bank

Nil joining and annual fee, 5 Reward Points per ₹100 at grocery and department stores, 1 domestic airport lounge access per quarter, and personal (₹2 lakh) and air accident (₹20 lakh) insurance.

Accelerated points capped at 1,000 a month; lounge access needs ₹75,000 spend in the preceding quarter; insurance does not cover service-related events; 3.5% forex markup.

ICICI Bank Parakram Credit Card
ANNUAL FEE
No annual fee
JOINING FEE
No joining fee
REWARDS
Not stated
Earning terms not yet recorded
KEY BENEFIT
5 Reward Points per ₹100 spent at grocery and department stores.
BEST FOR
Included: Indian Defence and Paramilitary personnel who want a no-fee card with rewards on grocery and department-store spends.
Included: May suit those who spend regularly at grocery and department stores.
Included: May suit those who spend ₹75,000 or more a quarter and use domestic airport lounges.
Included: May suit those wanting a card with Nil joining and annual fee.
Limitation: Frequent international spenders may wish to compare other cards.
Limitation: Those who spend mostly on insurance, utilities or government payments may wish to compare other cards.
Limitation: Frequent overseas spenders, given the 3.5% forex markup may wish to compare other cards.
Limitation: Those who carry a balance may wish to compare other cards.
Typical fit only. This is not personalised advice and not an indication of approval.
GOOD TO KNOW
Condition: Insurance cover applies only in a personal capacity and not to events that occur during service.
Condition: Reward Points expire 36 months from the date of issuance and lapse if the card is cancelled.

Rewards & real value

What the card earns, and what changes that figure in practice.
WHAT THE CARD EARNS
EVERYTHING ELSE
Not stated
No earning rate recorded for this card
REWARD POINT VALUE
Not stated
Effective return cannot be calculated without it

Eligibility

Minimum income
Not stated
Minimum age
21
Maximum age
Not stated

Fees & ownership

Joining fee
No joining fee
Annual / renewal fee
No annual fee
Fee waived at
Not stated
Forex markup
3.5%
Finance charge
3.75% per month
Cash withdrawal fee
2.5% of the amount, minimum ₹500
Late-payment charge
Not stated
Interest-free period
18–48 days

Benefits & privileges

TRAVEL
Domestic airport lounge
1 visit per quarter — 1 domestic airport lounge access per quarter · Primary cardholder only; subject to lounge availability, first come first served · ₹75,000 in a calendar quarter
International airport lounge
Not stated
Railway lounge
Not stated
Lounge spend requirement
Not stated
Lounge programme
Not stated
EVERYDAY
Fuel
1% on ₹400–₹4,000 transactions at all petrol pumps; max ₹250 a month
Dining
Not stated
RuPay / UPI
Not stated

Caps, exclusions and redemption

Major excluded categories
No points on cash advance, ATM, EMI, balance transfer, personal loan on card, fees/charges, rent, e-wallet reloads; insurance, utility and international spends earn 0.; Insurance, utility (incl. government) and international spends; cash/ATM, EMI, balance transfer, personal loan on card, fees and charges; rent and e-wallet reloads.
Categories earning nothing
Not stated
Monthly reward cap
Not stated
Annual reward cap
Not stated
Reward point value
Not stated
Points expiry
36 months
Redemption fee
₹99
Minimum redemption
Not stated
Credited automatically
Credited automatically

Who this card may suit

MAY SUIT
Included: 5 Reward Points per ₹100 spent at grocery and department stores.
Included: Defence Services title can be embossed on the card.
Included: Personal accident insurance of ₹2 lakh and air accident cover of ₹20 lakh.
Included: 1% fuel surcharge waiver on ₹400–₹4,000 transactions at all petrol pumps, up to ₹250 a month.
MAY NOT SUIT
Not stated
Typical fit only, based on the card’s own published terms. This is not personalised advice and not an indication of approval.
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Figures last checked 31 Oct 2026 against the issuer’s published terms.