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ICICI Parakram

ICICI Bank
|
Lifestyle Lounge Access Rewards

Annual Fee

FREE

Rewards/₹100 ⓘ

₹1.25 - ₹2.50

Normalized to balance base rate with bonus categories

Interest Rate

40.00%

Credit Score

700+

At a Glance

Key Benefits

5 rewards points/Rs 100, 10X on dining, fuel surcharge waiver, Rs 20L personal accident cover

Lounge Access

4 domestic lounge visits per year

Eligibility

Defence personnel only (Army/Navy/Air Force), Age: 21-60

Quick Details

Annual Fee
FREE #1
Joining Fee
FREE #1
Interest Rate
40.00% p.a. #67
Forex Markup
3.50% #75
Rewards/₹100
₹1.25 - ₹2.50 #114
Reward Type Reward Points
Reward Currency Points
Domestic Lounge Visits
4/year #61
Min Credit Score
700+ #54
Min Monthly Income ₹25
Network VISA
Card Replacement Fee 100
Late Payment Fee ₹300
Over Limit Fee 2.50% (min ₹500)
Cash Advance Fee 2.50% (min ₹300)
Card Replacement Fee ₹100

Reward Structure

Base

All Spends

₹1.25 /₹100
Cat

Dining

₹2.50 /₹100

Reward Calculator

₹
Allocate by Category 100%
Dining
10.0 pts
60% ₹0
Other Spends
5.0 pts
40% ₹0
Your Rewards
Points Earned 0
Cash Value ₹0
Breakdown
Quick amounts:

Airport Lounge Access

Domestic Free
4

visits per year

4 complimentary domestic lounge visits per year at select airports.

Insurance Coverage

Lost Card

₹0

Zero liability for unauthorized transactions when reported within 3 days.

Fraud

₹0

Zero liability for fraudulent transactions.

Personal Accident

₹20,00,000

Rs 20 Lakh personal accident cover for defence personnel.

Quick Analysis

The ICICI Parakram is a straightforward lifetime free credit card from ICICI Bank. While it may not offer premium perks, the zero annual fee makes it a low-risk option. Suitable for those who want a basic credit card without annual charges.

Pros

  • Lifetime free - no annual or joining fee
  • Good insurance coverage up to ₹20 lakh
  • Extended interest-free period of 50 days

Cons

  • Limited lounge access (4 visits per year)
  • High forex markup of 3.50% on international transactions
  • High interest rate of 40.00% on revolving credit

Frequently Asked Questions

Who is eligible for ICICI Parakram credit card?
ICICI Parakram is exclusively for defence personnel - serving or retired members of the Indian Army, Navy, and Air Force. Valid defence ID is required.
Is ICICI Parakram card lifetime free?
Yes, the ICICI Parakram credit card has zero joining fee and zero annual fee, making it a lifetime free card for defence personnel.
What rewards does ICICI Parakram offer?
You earn 5 PAYBACK points per Rs 100 spent on all purchases, and 10 points per Rs 100 on dining (capped at 5,000 bonus points monthly). Points can be redeemed at Rs 0.25/point.
Does ICICI Parakram have lounge access?
Yes, ICICI Parakram offers 4 complimentary domestic airport lounge visits per year at select airports across India.
What insurance benefits come with ICICI Parakram?
The card provides Rs 20 Lakh personal accident insurance cover, plus zero liability protection against unauthorized transactions.

User Reviews

Our Rating

3.9
APPLY NOW

on ICICI Bank's website

Rating Breakdown

Rewards
3.9/5 Top 26%
Benefits
3.2/5 Top 92%
Fees
4.9/5 Top 5%
Value for Money
3.7/5 Top 26%
User Reviews
3.0/5 Top 50%

Important Links

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