ICICI Credit card for defence person
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ICICI Bank Parakram Credit Cards: Features & Charges

ICICI Bank has launched two new credit cards exclusively for defence personnel, aiming to provide tailored benefits and rewards. These cards named as ICICI Bank Parakram Credit Card and the ICICI Bank Parakram Select Credit Card, offer a range of features designed to cater specifically to the unique needs of military staff and their families.

ICICI Parakarm Credit card

In this article, we will discuss the ICICI Bank Parakram Credit Card, its features, and charges.

ICICI Bank Parakram & Parakram Select Credit Card, Features

The ICICI credit cards are designed to cater to the unique needs of defence personnel, offering a variety of features and benefits that enhancetheir financial convenience and security. Below are the key features of both cards:

Reward Points Program

  • 5X Reward Points: Earn 5X reward points for every Rs. 100 spent on purchases at Canteen Store Departments (CSDs), groceries, and departmental stores (capped at 400 points per month).
  • Standard Reward Points: Earn 1 reward point for every Rs. 100 spent on all other expenses.
  • ICICI Bank Reward Points: Get 2 ICICI Bank reward points per INR 100 on various categories with the Parakram Select Credit Card.
  • Non-Eligible Transactions: Purchases such as fuel, ATM withdrawals, balance transfers, cash withdrawals, EMIs, PLCC, fees, and other charges do not earn reward points.

Dining Benefits

  • Culinary Treats Program: Enjoy exclusive dining privileges and discounts at partner restaurants through the ICICI Bank Culinary Treats Program.

Travel Benefits

  • Complimentary Railway Lounge Access: Access to two complimentary domestic railway lounges per quarter, provided you spend a minimum of Rs. 5,000 in the previous quarter.
  • Domestic Airport Lounge Access: Access to one complimentary domestic airport lounge per quarter with Parakram Credit Card, and access to two complimentary domestic airport lounges per quarter with Parakram Select Credit Card.
  • Internation Lounge Access: Access 1 complimentary international airport lounge per year with ICICI Bank Parakram Select Credit Card.

Insurance Coverage

  • Personal Accident Insurance: Coverage of Rs. 2 lakh in case of personal accidents.
  • Air Accident Cover: Coverage of Rs. 20 lakh for air accidents.

Fees and Charges

  • No Joining or Annual Fees: The card has no joining fee or annual fee, making it cost-effective.
  • Reward Redemption Fee: A fee of Rs. 99 is charged per reward redemption request.
  • Foreign Currency Markup Fee: A markup fee of 3.5% per month or 42% annually is applied to foreign currency transactions.
  • Interest Rates: An interest rate of 3.40% per month or 40.8% annually is charged.
  • Cash Advance Charges: 2.50% of the withdrawn amount or a minimum of Rs. 300 is charged as a cash advance fee.
  • Fuel Surcharge Waiver: A 1% fuel surcharge waiver on all fuel transactions nationwide.

Additional Benefits

  • Add-On Cards: Up to three add-on credit cards can be issued without any additional fee.
  • Reward Points Redemption: Reward points can be redeemed against a variety of options available on the bank’s official website or for vouchers from desired brands. Each reward point is equivalent to Rs. 0.25.
  • Complimentary Golf Round: Personnel can enjoy a complimentary round of golf by spending Rs 50,000 on the Parakram Select Credit Card.

The ICICI Bank Parakram Credit Card stands out as a comprehensive financial tool tailored to the needs of defence personnel, offering significant rewards, travel perks, and security features without hefty fees.

Eligibility and Documentation 

The ICICI Bank Parakram Credit Card is designed for Indian defence personnel. Below are the eligibility criteria and required documentation for applying for this credit card:

Eligibility Criteria

  • Employment: Must be a member of the Indian defence services (Army, Navy, Air Force, or other recognized defence forces).
  • Age: Typically, applicants must be at least 21 years old. There may be an upper age limit, often around 60 years.
  • Income: Applicants must meet the bank's minimum income criteria, which can vary. This is often determined based on the individual's rank and employment status.
  • Credit Score: A good credit score is usually required. The specific threshold can vary but typically a score above 700 is preferred.

Required Documentation

Here is the list of required documents:

Proof of Identity

  • Aadhaar Card
  • Passport
  • Voter ID
  • Driving License
  • Recent passport-sized photograph

Proof of Address

  • Recent utility bill (electricity, water, gas)
  • Passport
  • Aadhaar Card
  • Voter ID

Proof of Income

  • Latest salary slips (usually last 3 months)
  • Income tax returns (ITR) or Form 16
  • Bank statements (typically last 6 months)

Proof of Employment

  • Employment certificate from the Defence Department.

Application Process

Online Application

  • Visit the ICICI Bank website or use the mobile banking app.
  • Fill in the application form with the required details.
  • Upload the scanned copies of the necessary documents.

Offline Application

  • Visit the nearest ICICI Bank branch.
  • Fill out the physical application form.
  • Submit photocopies of the required documents along with the form.

Additional Notes

  • Verification Process: After submission, the bank will verify the provided documents and may contact the applicant for further information or clarification.
  • Approval: Once verified, the bank will process the application and notify the applicant of the approval status.\

For the most accurate and detailed information, it is recommended to visit the official ICICI Bank website or contact their customer service directly.

Terms & Conditions for Both Cards

Many offers and features given by both cards are subject to terms & conditions.

  • To know the terms & conditions for the Parakram Credit Card, visit ICICI Bank official website.


ICICI Bank's introduction of the Parakram series credit cards underscores its commitment to supporting the country's defence personnel. By offering specialized rewards, significant insurance coverage, and exclusive benefits without hefty fees, the Parakram Credit Card stands out as a comprehensive financial solution tailored to the needs of those serving in the armed forces.

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