Dedicated Tribute Credit Card for Indian Armed Forces Personnel with Lifetime Free Access
Serving and retired personnel of the Indian Army, Navy, Air Force, and Paramilitary forces seeking a lifetime-free rewards card with comprehensive defense insurance protection.
Free
One-time upfrontFree
Lifetime Free — no renewal fee5X reward points for every Rs. 100 spent on CSDs, groceries, and departmental stores and 1 reward point for every Rs. 100 spent on all other expenses
On eligible spends1 Domestic visits/quarter · ₹75k quarterly spend required
Complimentary visitsLast verified 3 Oct 2026
Objective editorial assessment, ideal spender profile, and primary trade-offs
The ICICI Bank Parakram Credit Card stands as an authoritative tribute financial product designed in collaboration with India's defense establishment. Offered strictly to serving and veteran personnel across the Indian Army, Indian Navy, Indian Air Force, Coast Guard, and Central Armed Police Forces (CAPF), it is issued completely Lifetime Free (₹0 joining fee and ₹0 annual fee) with zero maintenance hurdles throughout its lifecycle. Cardholders earn 2 ICICI Reward Points per ₹100 spent on all standard domestic purchases. Crucially, the card provides robust financial peace of mind through a complimentary Personal Accidental Death Insurance cover of up to ₹1 Crore in the event of an air accident, alongside comprehensive rail/road accident cover for service personnel. Additional practical features include a 1% fuel surcharge waiver across all authorized fuel outlets in India and zero lost card liability. While premium travel perks like airport lounge access are reserved for the higher-tier Parakram Select variant, the standard Parakram card's total lack of fees, exceptional insurance envelope, and everyday merchant discounts make it an invaluable daily wallet staple for our armed forces personnel.
5X reward points for every Rs. 100 spent on CSDs, groceries, and departmental stores and 1 reward point for every Rs. 100 spent on all other expenses
N/A
Base earning rates, partner merchant acceleration, redemption options, and exclusions
| Spend Category | Earn Rate | Reward Cap | Conditions |
|---|---|---|---|
| Retail Spends | 2 Reward Points per ₹100 spent (1 RP = ₹0.25) | No Cap | Standard terms apply |
| Utilities & Insurance | 0.25% | No Cap | Standard terms apply |
Calculate estimated net cashback and points across your actual spending pattern.
Estimate your rewards using the card's current reward rates, monthly caps and applicable fee-waiver rules.
Customize monthly spend in each category. Category amounts sum directly to your monthly spend.
| Category / Reward Bucket | Monthly Spend | Rate | Effective Rate | Cap Period | Eligible Reward | Cap Status |
|---|---|---|---|---|---|---|
| Retail Spends | ₹6,000 | 2 Reward Points per ₹100 spent (1 RP = ₹0.25) | — | None | Calculating... | Under cap |
| Utilities & Insurance | ₹6,000 | 0.25% | — | None | Calculating... | Under cap |
| Total Monthly Cashback | ₹30,000 | - | — | - | ₹0 / mo | Zero cap loss |
₹3.6 lakh
12 billing cycles₹0
0% blended return₹0
Standard renewal+₹0 / yr
Rewards - FeeDomestic and international lounge privileges, spend hurdles, and participating terminals
Verify this card against live departure gates and specific terminal lounges across India.
This card includes complimentary admission across verified Indian airport terminals. Check individual terminal lounges and spend criteria before you travel.
Complete breakdown of joining, renewal, forex, financing APR, and transaction charges
• Eligibility: Exclusively for serving and retired personnel of the Indian Armed Forces, Coast Guard, and Paramilitary forces. • Joining & Annual Fee: Lifetime Free (₹0 joining fee and ₹0 annual maintenance charges). • Base Rewards: 2 ICICI Reward Points per ₹100 spent on all eligible domestic retail purchases. • Insurance Protection: Personal Air Accidental Insurance cover up to ₹1 Crore; general transit accident protection. • Fuel Surcharge: 1% fuel surcharge waiver at all petrol stations across India on transactions up to ₹4,000. • Dining Discounts: Up to 15% discount at partner restaurants nationwide through ICICI Culinary Treats. • Exclusions: Fuel purchases, cash withdrawals, and wallet reloads do not earn reward points.
Evaluate whether this card's perks and waiver threshold justify its Free renewal fee.
Income criteria, minimum age, CIBIL score benchmark, and verification checklist
Eligibility criteria not specified
Verified eligibility criteria are not currently available for this card. Check the issuer's latest terms before applying.
Common questions regarding ICICI Bank Parakram Credit Card application, fees, reward redemption, and eligibility
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Direct online application on the official ICICI Bank portal with paperless verification.
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Best for: Indian Armed Forces personnel, paramilitary forces, defense veterans, and military families seeking a zero-fee credit card with high insurance protection and UPI payments.
Rewards: 2 Reward Points per ₹100 spent (0.50% value) + 3% Cashback on CSD Canteen Spends
Lounge access: 4 Domestic + 1 International visits/year
Last verified 12 Oct 2026
Best for: Serving and retired Indian Armed Forces personnel (Army, Navy, Air Force, Paramilitary) seeking a low-maintenance rewards card with patriotic styling and everyday dining discounts.
Rewards: For every Rs. 200 spent, you will get 8 EDGE REWARD Points.
Lounge access: 1 Domestic visits/quarter · ₹50k quarterly spend required
Renewal fee waived on ₹40,000 annual spend
Last verified 3 Oct 2026
Best for: Commissioned officers of the Indian Army, Navy, Air Force, and Paramilitary seeking upgraded lifestyle perks, airport lounge visits, and zero maintenance costs.
Rewards: 5X reward points on every Rs. 100 spent on grocery, departments store, and CSDs and 2 reward points for every Rs. 100 spent on other applicable expenses, and 1 reward point on e...
Lounge access: 1 Domestic visits/quarter + 2 International visits/year · ₹75k quarterly spend required (Domestic)
Last verified 3 Oct 2026
Best for: Ultra-high-net-worth individuals, luxury frequent flyers, and high spenders seeking the highest reward return on travel bookings in India.
Rewards: 5 Reward Points per ₹150 spent
Lounge access: Unlimited Domestic & International
Forex markup: 2% Low Forex
Renewal fee waived on ₹10,00,000 annual spend
Last verified 16 Sept 2026
Best for: Ultra-high-net-worth individuals, conglomerate chairpersons, family office principals, and top executives demanding bespoke global lifestyle privileges.
Rewards: 1 EDGE Mile/₹100 Spent on All Transactions
Lounge access: Unlimited Domestic & International
Forex markup: 1.5% Low Forex
Last verified 3 Oct 2026
Best for: Serving and retired Indian Army officers and personnel seeking top-tier lifestyle luxury with zero annual maintenance fees.
Rewards: 2 Reward Points on every retail spend of Rs. 100 and 10 Reward Points for every Rs. 100 spent on departmental stores & groceries.
Lounge access: 1 Domestic visits/quarter · ₹40k quarterly spend required
Last verified 3 Oct 2026
