Parakram Credit Card
ICICI Bank
Exclusively for Defence personnel — not shown to other quiz-takers.
Free
Joining fee
Free
Annual fee
3.5%
Forex markup
4.0 / 5
Rating
Eligibility
No minimum income specified
No minimum CIBIL score required
Age: 21+
Restricted to Indian Defence and Paramilitary personnel exclusively
Lounge access
4 domestic visits per year
Stated as 1 domestic lounge visit/quarter.
Note: Lounge benefit applies to primary cardholder exclusively.
Key features
- Defence Services title embossed on card
- 1 domestic lounge visit/quarter
- ₹2 lakh personal accident insurance
- No joining/annual fee
Reward details
1 point per Rs 100 on domestic purchases
- 5 points per Rs 100 on Groceries, department stores, and Canteen Stores Department (CSD) purchases — 1,000 points/month overall
Category caps
- All reward points: Maximum 1,000 points/month
Redemption
Health & beauty, travel, shopping vouchers, home appliances, electronics, fashion.
Excluded from rewards: insurance, utilities, international spends, cash advances, fees
- Personal accident insurance Rs 2,00,000
- Air accident insurance Rs 20,00,000
- Defence services title embossing on the card
- 1% fuel surcharge waiver at all fuel stations (aggregator caps this at Rs 250/month, transactions Rs 400-4,000)
Real-world feedback
Sourced from user reviews and comparison sites (aggregator/user-sourced), not confirmed by the bank.
Praise
- Accelerated rewards on everyday categories (groceries/CSD) and strong insurance benefits for a no-fee card — Paisabazaar
Complaints
- The monthly reward point cap — Paisabazaar
- The spend requirement gating lounge access — Paisabazaar
- Relatively low base reward rate outside accelerated categories — Paisabazaar
Sources
- Official — fees, eligibility, forex, lounge, rewards
- Aggregator — sentiment, exclusions