ICICI Bank Parakram Credit Card

Lounge access

• 1 complimentary domestic airport lounge access per quarter (w.e.f. Apr 15, 2024), subject to availability on first-come-first-served basis, valid up to 3 hours per visit.
• Domestic lounge access unlocked by spending ₹75,000 in the preceding calendar quarter (spend-based criteria applicable to eligible ICICI Bank Credit Cards, w.e.f. Jan 01, 2025).

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Forex markup

• Foreign currency transactions mark-up of 3.50%.
• A refund initiated by the customer on similar Foreign Currency transactions will also attract a 3.5% mark-up fee.

Verified · MITC (Most Important Terms & Conditions) – covers ICICI Bank Parakram Credit Card explicitly · 2026-08-03 · source

Charge

• Finance charges: 3.75% per month (45% p.a.) on retail and cash advances (w.e.f. Nov 15, 2024).
• Cash advance transaction fee: 2.5% of advanced amount, min ₹500.
• Card replacement fee: ₹100 (₹200 w.e.f. Jul 1, 2024).
• Add-on/Supplementary card fee: ₹199 (annual).
• Dynamic Currency Conversion fee: 1% currently, rising to 3.5% w.e.f. Jan 15, 2026.
• Rent Pay: 1% of transaction amount (MCC 6513).
• Fuel transaction fee: 1% on fuel transactions exceeding ₹10,000 (w.e.f. Nov 15, 2024).
• Utility transaction fee: 1% on utility payments exceeding ₹50,000 (w.e.f. Nov 15, 2024).
• Transportation transaction fee: 1% on transactions exceeding ₹50,000 (w.e.f. Jan 15, 2026).
• Education payment fee: 1% on education payments via third-party apps (w.e.f. Nov 15, 2024).
• Skill-based gaming: 2% (w.e.f. Jan 15, 2026).
• Wallet load: 1% on wallet load of ₹5,000 or more (w.e.f. Jan 15, 2026).
• Over-limit charges: 2.50% on over-limit amount (min ₹550).
• Fee on cash payment at branches: ₹100 per transaction (₹150 w.e.f. Jan 15, 2026).
• Railway booking surcharge: 1.80% Internet, 2.50% other bookings.
• Late payment charges (slab): None below ₹100.
• ₹100 (₹100-500).
• ₹500 (₹501-1,000).
• ₹600 (₹1,001-5,000).
• ₹750 (₹5,001-10,000).
• ₹900 (₹10,001-25,000).
• ₹1,100 (₹25,001-50,000).
• ₹1,300 (above ₹50,000).
• Return of cheque / Auto-debit return fee: 2% of Total Amount Due (min ₹500).
• GST at 18% applicable.

Verified · MITC (Most Important Terms & Conditions) – covers ICICI Bank Parakram Credit Card explicitly · 2026-08-03 · source

Interest-free period

• Interest-free period could range from 18 to 48 days.
• A 3-day grace period is given after the payment due date.

Verified · MITC (Most Important Terms & Conditions) – covers ICICI Bank Parakram Credit Card explicitly · 2026-08-03 · source

Fuel surcharge waiver

• 1% fuel surcharge waiver applicable on transactions between ₹400 and ₹4,000, maximum monthly waiver capped at ₹250, applicable at all petrol pumps.
• Fuel category also earns reward points on this card (exception to the no-fuel-rewards rule).

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Milestone benefit

• BookMyShow offer: enjoy the BookMyShow offer on the Credit Card by spending ₹25,000 or more in the preceding quarter (w.e.f. Jan 15, 2026).
• This cycle repeats every quarter.
• ICICI Bank Parakram Credit Card is listed among cards eligible for this offer.

Verified · MITC (Most Important Terms & Conditions) – covers ICICI Bank Parakram Credit Card explicitly · 2026-08-03 · source

Redemption value

• Redemption handling fee of ₹99 plus GST charged towards handling and delivery of the redemption request for Reward Points earned on the Credit Card.
• Reward points have expiry of 36 months from date of issuance.
• Credited within 5 working days from statement generation date.

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Reward cap

• Reward points capped per statement cycle: Utility Spend ₹40,000.
• Insurance Spend ₹40,000.
• Grocery & Departmental Spend NA (w.e.f. Nov 15, 2024).
• Transportation Transaction capped at ₹10,000 (w.e.f. Feb 01, 2026).
• Grocery & department store accelerated earn capped at 1000 Reward Points per month.

Verified · MITC (Most Important Terms & Conditions) – covers ICICI Bank Parakram Credit Card explicitly · 2026-08-03 · source

Reward exclusion

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Golf benefit

No golf benefit is stated for the ICICI Bank Parakram Credit Card in the official Parakram Terms and Conditions.

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Insurance

• Personal accident insurance of ₹2 lakh and Air accident cover of ₹20 lakh.
• Air accident cover is a flat Sum Insured of ₹20 Lac over and above base sum insured.
• Not applicable during service.
• Applicable only in personal capacity for non-service related events.
• Age Band 16-80 years.
• Requires a POS/E-com transaction on card in last 30 days prior to date of loss.

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Eligibility

• Designed for Defence Personnel - individuals who are part of the defence services as identified by the Bank's product grid (subject to updation and changes in the grid).
• Cardholders are entitled to up to 3 free add-on cards.

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Official terms

https://www.icici.bank.in/personal-banking/cards/credit-card/parakram-cards/parakram.

Verified · harvested from product page · 2026-08-03 · source