By: OurMoneyGuide || Last updated on: May 28, 2024

The ICICI Bank Parakram Credit Card is exclusively targeted at Indian Defence and Paramilitary personnel. The card has no annual fee, and is lifetime free.

It gives a higher benefit of 1.25% on canteen stores departments (CSD) purchases, grocery purchases and department store purchases. And complimentary domestic airport lounge access – 1 time per quarter.

Pros & Cons of ICICI Bank Parakram Credit Card


  • Lifetime free card, exclusively for Indian Defence and Paramilitary personnel.
  • Higher benefit of 1.25% on various types of shopping purchases including canteen stores departments (CSD) purchases. And also on grocery and department store purchases
  • Complimentary domestic airport lounge access – 1 time per quarter


  • Reward rates on card spending are comparatively low.

Features & Benefits of the ICICI Bank Parakram Credit Card

Lifetime free premium card, exclusively for Indian Defence and Paramilitary personnel.

There is no annual fee on the card.

This card is exclusively for Indian Defence and Paramilitary personnel.

1.25% benefit on canteen stores departments (CSD) purchases || grocery purchases || department store purchases (5X)

You get 5 reward points worth ₹1.25, on every ₹100 you spend in these categories.

This benefit is valid only on total monthly purchases upto ₹20,000 across these 3 categories, since you can earn a maximum of 1000 reward points at this accelerated rate.

1 reward point = ₹0.25 or 25 paise, and can be redeemed for products, vouchers and more.

0.25% benefit on all other spends (X)

You earn 1 reward points worth ₹0.25 (25 paise), on every ₹100 you spend on all other purchases.

1 reward point = ₹0.25 or 25 paise, and can be redeemed for products, vouchers and more.

Please note that no reward points are given on fuel purchases, rent, e-wallet loading transactions, utility bills, government transactions, international spends, insurance spends, cash advance, ATM withdrawals, EMI transactions, balance transfer, personal loan on credit card fees and other charges.

Complimentary domestic airport lounge access – 1 time per quarter

You get free visits to airport lounges in India, 4 times per year (maximum 1 time per quarter).

Please note that this benefit is offered in a particular quarter only if you have spent a minimum of ₹35000 on your card in the previous quarter. This change is effective from 01 April 2024. For example, to be eligible for complimentary lounge access in ‘Apr-May-Jun 2024 Quarter’, you need to spend a minimum of ₹35,000 in the ‘January-February-March 2024 Quarter’ and similarly for the following quarters.

Complimentary insurance benefits

You get free insurance covers:
– Personal accident insurance of ₹2 lakh
– Air accident cover of ₹20 lakhs

Fuel surcharge waiver, upto ₹250 per month

You get a 1% waiver fuel surcharge waiver only on fuel transactions between ₹400 and ₹4000. And only on fuel purchases upto ₹25000 per month (since the waiver amount is limited to ₹250 per month).

ICICI Bank customer care 

Please click here for all the options to contact the bank

ICICI Bank Parakram Credit Card Fees and Charges

Annual fee & annual fee offers

Annual feeAnnual fee offers
1st year joining feeLifetime free
Renewal fee from 2nd year onwardsLifetime free

Important note

– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – ICICI Bank Credit Card Fees & Charges

Eligibility Criteria

Minimum age21 years or above
Maximum age60 – 65 years
Occupation Indian Defence and Paramilitary personnel.
Minimum incomeNot specified
Other criteriaGood credit score preferably over 750

Application Process

Step-by-step guide

Online application process
The easiest way to apply is to click here – APPLY NOW , you shall be taken to the card application page on the ICICI Bank website. You can also visit official website of the bank and fill out the application form.

Steps –
– Fill out the online application form with basic personal details
– Fill out additional details along with basic documents details
– Verification and opening of card
Offline (face to face)  application processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.
Tracking your application statusTo track your credit card application status, please click here – ICICI Bank Credit Card Application Status.

Necessary documents and verification

We are listing below general criteria followed by most card issuing banks, since exact criteria has not been specified for this particular card. The bank may ask for additional documents.

Required documents
– PAN card

– Identity proof : PAN card , driving license, valid passport, voter ID (any one)

– Address proof : electricity bill, phone bill, driving licence, passport, ration card, bank statement, passbook, voters ID, flat maintenance bill, rent agreement (any one)

– Income proof : latest salary slip/s, income tax returns etc