ICICI Bank
ICICI Bank Parakram Select Credit Card
Annual Fee
Lifetime FreeBase Reward
5% points
Foreign Markup
3.5% per month or 42% annually
Welcome Benefits
N/A
Product Highlights
- 5X reward points on every ₹100 spent on groceries, department stores, and CSDs.
- 2 reward points for every ₹100 spent on other applicable expenses.
- Complimentary domestic airport lounge access, max capped 2 per quarter.
- Complimentary golf round on spending over ₹50,000 in a month, max capped 4 times per month.
- 1% fuel surcharge waiver on all fuel transactions across the country.
Category Rewards
grocery
10 RP per ₹100 on grocery, department stores, CSD (10X)
10X
Specialty
10 RP per ₹100 on grocery, department stores, CSD (10X)
10X
Specialty
10 RP per ₹100 on grocery, department stores, CSD (10X)
10X
Reward Calculator
Earns ₹1,500/year (net)
Modest gain. Solid hold if you like the perks.
₹13K
across all your buckets
6K
ICICI Reward Points
₹1.5K
via standard · ₹0.25/pt
Effective rate
0.96%
Annual fee
FREE
Year 1 net
+₹1,500
Year 2+ net
+₹1,500
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.
10 RP per ₹100 on grocery, department stores, CSD (10X)
Headline: 2.50% 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 on every ₹100 spent on groceries, department stores, and CSDs. 2 reward points for every ₹100 spent on other applicable expenses. 1 reward point on every ₹100 spent on insurance and utility bills.
- ₹0.25 = 1 RP
Benefits & Features
Domestic: 2 complimentary domestic airport lounge access per quarter (Max capped at 8 visits per year) International: 1 complimentary airport lounge access each year Complimentary domestic airport lounge access, max capped 2 per quarter.
Pros & Cons
Pros
- No joining or annual fee.
- 5X reward points on groceries, department stores, and CSDs.
- Complimentary domestic lounge access.
- Complimentary golf rounds for high spenders.
Cons
- Redemption fee of ₹99 for every reward redemption request.
- Limited international lounge access.
Additional Info
Max capped at 1,000 points per month for 5X rewards.
Excluded Categories
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Fees & Charges
Eligibility
Networks