ICICI Bank
ICICI Bank Parakram Credit Card
Annual Fee
Lifetime FreeBase Reward
1% points
Foreign Markup
3.5% per month or 42% annually.
Welcome Benefits
N/A
Product Highlights
- 5X reward points on every ₹100 spent on CSDs, groceries, and departmental stores.
- 1 reward point for every ₹100 spent on all other applicable expenses.
- Up to 3 add-on credit cards with no added fee.
Category Rewards
grocery
5 RP per ₹100 on grocery, department stores, CSD
1.25X
Specialty
5 RP per ₹100 on grocery, department stores, CSD
1.25X
Specialty
5 RP per ₹100 on grocery, department stores, CSD
1.25X
Reward Calculator
Earns ₹750/year (net)
Modest gain. Solid hold if you like the perks.
₹13K
across all your buckets
3K
ICICI Reward Points
₹750
via standard · ₹0.25/pt
Effective rate
0.48%
Annual fee
FREE
Year 1 net
+₹750
Year 2+ net
+₹750
ongoing
Adjust your spend by reward bucket
2 bucketsReal Reward Ceiling
Headline %s are gated by caps. Here's how far each accelerator stretches before it falls back to the base rate.
5 RP per ₹100 on grocery, department stores, CSD
Headline: 1.25% effective
Surcharges & Exclusions
Watch-outs that quietly erode your effective rewards. Categories listed as “excluded” earn 0% even if the merchant looks normal.
Rent payment surcharge
1%Charged on every rent transaction via CRED / NoBroker / Magicbricks / etc.
Wallet load surcharge
1%from Jan 2026Kicks in after ₹5,000 cumulative wallet loads/cycle (Paytm, PhonePe, Mobikwik)
Utility payment surcharge
1%Kicks in after ₹50,000 cumulative utility spends/cycle
Foreign exchange markup
3.5%Charged on every international (non-INR) transaction
Excluded from rewards
fuel, rent, wallet, emi, cash advance, utility
Fuel surcharge waiver (good news)
1%Surcharges are typically charged 1 cycle after the transaction and may include GST. Always confirm with the bank's most recent T&C.
Rewards Details
5X reward points for every ₹100 spent on Canteen Store Departments (CSDs), groceries, and departmental stores.
- ₹99 will be charged on every reward redemption request.
Benefits & Features
Domestic: One Domestic Airport Lounge Visit Each Quarter One complimentary domestic airport lounge access per quarter.
Pros & Cons
Pros
- 5X reward points on CSDs, groceries, and departmental stores.
- No joining or annual fee.
- 1% fuel surcharge waiver on all fuel transactions.
Cons
- No golf benefits.
- Reward points not earned on fuel, ATM withdrawal, balance transfer, cash withdrawal, EMIs, PLCC, fees, and other charges.
Additional Info
Max capped at 1,000 points per month.
Ready to apply?
Apply directly on the bank's official website. Quick approval, no hidden steps.
Apply NowOfficial bank website · Secure
Fees & Charges
Eligibility
Networks