ICICI Bank Parakram Select Review: Best Card for Defense Personnel?

Explore ICICI Bank Parakram Select Credit Card features: Lifetime Free, 10X rewards on CSD & groceries, lounge access, and insurance for defense personnel.

Vyaya Team · Mar 2026

5 min read

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Value Score

8.5 / 10

Annual Fee

₹0

Best For

defense-personnel, grocery-shoppers

Network

RuPay

Expert Verdict

The ICICI Bank Parakram Select is an excellent zero-cost lifestyle card for defense personnel, offering premium features like golf and lounge access that are usually reserved for high-fee cards. Its 5X rewards on CSD and groceries provide significant value for household expenses.

ICICI Bank Parakram Select Credit Card credit card by ICICI Bank - RuPay network

REWARD SUMMARY

0.25% Base Rewards
Dedicated to those who serve the nation.

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The Bottom Line

The ICICI Bank Parakram Select Credit Card is the ICICI Bank Parakram Select is an excellent zero-cost lifestyle card for defense personnel, offering premium features like golf and lounge access that are usually reserved for high-fee cards. Its 5X rewards on CSD and groceries provide significant value for household expenses. With no annual fee, it offers personal accident insurance cover of ₹2 lakhs and and 0.25% base rewards. For anyone researching icici bank parakram select credit card, the verdict is simple: recommended.

It earns a base reward rate of 0.25% and stacks best when your spending lines up with defense-personnel, grocery-shoppers.

What we like

+Lifetime Free (LTF) card with no joining or annual fees for defense personnel.

+High reward rate of 2.5% (10 RP per ₹100) on CSD, grocery, and departmental stores.

+Comprehensive insurance coverage including ₹20 Lakhs Air Accident Cover.

+Complimentary golf access (1 round/month) on meeting spend criteria.

What we don't

–Strict eligibility limited only to Indian Defence and Paramilitary personnel.

–Spend-based criteria (₹75,000/quarter) required to unlock domestic lounge access.

–Low base reward rate of 0.5% on general spends.

Who Should Get This Card

Use this as a quick filter before comparing rewards or fees in detail.

Best fit for

Ideal

defense-personnel

Tailored benefits for military staff including CSD rewards and zero fees.

Best value above ₹20,000/month

grocery-shoppers

High 5X reward points on grocery and departmental store spends.

Best value above ₹10,000/month

Probably not for

Skip

–

civilians

This card is strictly restricted to defense and paramilitary forces.

–

high-travelers

International lounge access is limited to only 1 visit per year.

Is It Worth It For You?

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Reward Rates

ICICI Bank Parakram Select Credit Card offers 0.25% basic reward rate.

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Where

Amount

₹

Flat 0.25% on all spends

Fees & Charges

Joining fee₹0

Annual fee₹0

Fee waiverN/A

Eligibility

Min Credit Score: 750
Exclusively for Indian Defence and Paramilitary personnel (Army, Navy, Air Force, etc.). Applicants must be between 21 and 65 years of age.

Exclusions & Terms

Fuel

EMI transactions

Cash withdrawals

Wallet load

Rent payments

Government transactions

Frequently Asked Questions

3 data-backed answers from our card database

Is the ICICI Parakram Select Credit Card free?+

Yes, the card is Lifetime Free (LTF) for eligible Indian Defence and Paramilitary personnel, with no joining or annual fees.

What is the reward rate on CSD purchases?+

You earn 10 Reward Points for every ₹100 spent at Canteen Stores Department (CSD), which is equivalent to a 2.5% value back.

Does it offer airport lounge access?+

Yes, it offers 2 complimentary domestic lounge visits per quarter (subject to spending ₹75,000 in the previous quarter) and 1 international visit per year.

Ready to apply?

₹0 fee. Excellent rewards. Apply now securely.

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