Top Perks and Rewards of the ICICI Parakram Credit Card

Bio

Sandipan Mitra is the CEO and co-founder of Pice. He boasts eight years of experience in the B2B and fintech sector. Sandipan's journey includes significant roles at multiple Indian Unicorns Including Product at PayU, and as founding member / VP, Product at Open Financial Technologies.

23 Dec 25
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Sandipan Mitra

08 Mins
23-12-25

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Table of Contents

ICICI Parakram Credit Card Benefits
ICICI Parakram Credit Card Charges
ICICI Parakram Credit Card Terms and Conditions
Conclusion

The ICICI Parakram credit card is exclusively designed for Indian defence and paramilitary personnel.
It offers zero joining and annual fees, making it cost-effective.
Cardholders earn reward points on everyday and iShop spends.
Benefits include lounge access, fuel surcharge waiver, and insurance cover.
Defence Services title embossing adds a personalised touch.

For Indian paramilitary and defence personnel seeking a credit card with exclusive perks, the ICICI Parakram Credit Card is an ideal choice.

It offers complimentary airport lounge access, a fuel surcharge waiver and opportunities to earn 1 reward point on everyday spending of ₹100. Plus, you can also have your Defence Services title embossed on the card for a personalised touch.

Make sure to check all the perks and associated terms before applying.

ICICI Parakram Credit Card Benefits

You can earn 1 reward point on every ₹100 spent on domestic purchases using the ICICI Parakram Credit Card. The other benefits offered by the card are as follows:

You can earn 6X to 12X reward points on iShop.
You can get 1 airport lounge access per quarter by spending a minimum of ₹75,00 per quarter using the card.
The card offers personal accident insurance cover of 2 lakh and air accident insurance cover of up to ₹20 lakh.
You can get a 1% surcharge waiver on fuel transactions.

ICICI Parakram Credit Card Charges

The ICICI Parakram Credit Card does not attract any annual renewal or joining fee. However, the other charges applicable to the card are as follows:

Parameter	Charges
Supplementary Card Fee	₹199
Card Replacement Fee	₹200
Foreign Currency Markup	3.5%
Cash Advance Fee	2.5% subject to a minimum of ₹500
Overlimit Charges	2.5% subject to a minimum of ₹550
Finance Charge	3.75% per month or 45% per year

💡Pay your credit card bills in an easy and secure way with the PICE App.

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ICICI Parakram Credit Card Terms and Conditions

With the ICICI Parakram Credit Card, rewards are capped at ₹40,000 each for utility and insurance spends per month. The card charges a reward redemption handling fee of ₹99 per redemption. The fuel surcharge waiver is applicable on transactions between ₹400 and ₹4,000 up to ₹250 per month.

Conclusion

The ICICI Parakram credit card is a purpose-built offering for Indian defence and paramilitary personnel, combining zero fees, rewarding spends, insurance cover, lounge access and fuel savings. With personalised embossing and transparent terms, it delivers practical value, convenience and recognition for everyday financial needs across diverse spending categories nationwide securely.