ICICI Bank Parakram Select Credit Card

Lounge access

• 2 complimentary Domestic Airport lounge accesses per quarter.
• 1 complimentary International Airport lounge access per year (w.e.f. Apr 15, 2024).
• Access subject to lounge availability on first-come first-serve basis.

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Forex markup

• Foreign currency transaction 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 · Most Important Terms & Conditions (MITC) – ICICI Bank Credit Cards (covers Parakram Select) · 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.
• Add-on/Supplementary card fee: ₹199 (w.e.f. Nov 15, 2024).
• Card replacement fee: ₹200 for all cards (w.e.f. July 1, 2024).
• Dynamic Currency Conversion fee: 3.5% (w.e.f. Jan 15, 2026, from earlier 1%).
• Rent Pay: 1% of transaction (MCC 6513).
• Fuel transaction: 1% on fuel transactions exceeding ₹10,000 (w.e.f. Nov 15, 2024).
• Utility transaction: 1% on utility payments exceeding ₹50,000 (w.e.f. Nov 15, 2024).
• Transportation transaction: 1% on transactions exceeding ₹50,000 (w.e.f. Jan 15, 2026).
• Education payment via third-party apps: 1% (w.e.f. Nov 15, 2024).
• Skill-based gaming: 2% (w.e.f. Jan 15, 2026).
• Wallet load: 1% on transactions of ₹5,000 or more (w.e.f. Jan 15, 2026).
• Over-limit charge: 2.50% of over-limit amount (min ₹550).
• Fee on cash payment at branches: ₹150 per payment transaction (w.e.f. Jan 15, 2026).
• Late payment charges: None below ₹100, up to ₹1,300 for outstanding more than ₹50,000.
• Return of cheque / Auto-debit return fee: 2% of Total Amount Due (min ₹500).
• GST at 18% applicable on fees and charges.

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Interest-free period

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

Verified · Most Important Terms & Conditions (MITC) – ICICI Bank Credit Cards (covers Parakram Select) · 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 on all petrol pumps.

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Milestone benefit

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

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

Redemption value

• Redemption handling fee of ₹99 plus GST charged towards handling and delivery on every redemption request for reward points earned on ICICI Bank Credit Cards.
• Reward points expire 36 months from date of issuance.

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Reward cap

• Grocery & Department Stores earning capped at 1,000 Reward Points per month.
• Per statement cycle MCC caps: Utility Spend ₹40,000, Insurance Spend ₹40,000, Grocery/Departmental NA (w.e.f. Nov 15, 2024).
• Transportation Transaction capped at ₹10,000 per statement cycle (w.e.f. Feb 01, 2026).

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

Reward exclusion

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Golf benefit

• 1 complimentary round of golf on spending ₹50,000 on the Card.
• Maximum 4 rounds per month.
• ₹50,000 spend required for each round.
• Access via third party vendors.

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Insurance

• Personal Accident insurance of ₹2 lakh (Accidental Death) and Air Accident cover of ₹20 lakh.
• Benefit applies only in a personal capacity for non-service related events.
• A POS/E-com transaction on the card in the last 30 days prior to date of loss is required for eligibility.
• Insurer: ICICI Lombard General Insurance Co. Ltd.

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Eligibility

Available to 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).

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