Does the ICICI Parakram Select Credit Card give airport lounge access?

Yes. In India: 2 per quarter. Outside India: 2 per year via Priority Pass, primary only. Conditions: Spend of Rs 75,000 in the preceding calendar quarter unlocks access for the next quarter (rent, government, education, EMI spends excluded). Primary cardholder only. Rs 2 authorisation at entry.

What is the forex markup on the ICICI Parakram Select Credit Card?

3.5% of each foreign-currency transaction, before GST.

Which spends earn no rewards on the ICICI Parakram Select Credit Card?

No points on rent, e-wallet loads, cash. Fuel does earn on Parakram cards (MITC).

M16S / ICICI Bank / ICICI Parakram Select Credit Card

mid · rewards, lifetime-free

ICICI Parakram Select Credit Card

ICICI BankLast checked 11 Oct 2026

The ICICI Parakram Select Credit Card charges no annual fee and no joining fee. Its base return is 0.5% (2 RP per Rs 100 domestic). Accelerated earn: 10 RP per Rs 100 at grocery stores, department stores and CSD canteens. The forex markup is 3.5%. Lounge visits in India: 2 per quarter. Abroad: 2 per year via Priority Pass, primary only. Read from the issuer's documents and an aggregator on 11 Oct 2026.

ICICI Parakram Select Credit Card card design — Card design: icici.bank.in

Annual fee: Free
Fee waived at: —
Base return: 0.5%
Forex markup: 3.5%
Interest: 3.75%a month

Apply on icici.bank.inOpens the bank’s own page.

What changed on this card

6 Nov 2026 · takes effect 11 Dec 2026 CutICICI cards lose air accident cover and INOX, fees rise, Dec 2026
From 15 December 2026, ICICI Bank ends air accident cover on 7 cards, CFAR cover on 4 and the INOX benefit on 9. Card replacement goes to Rs 300 plus GST from 11 December.

Each change is read from the bank's own notice or terms document, linked above. Every card's changes are on the change log.

Fees

Joining fee	Free
Annual fee	Free
Fee notes	Lifetime free. Add-on Rs 199.

Rewards

Reward currency	ICICI Bank Reward Points
Base earn	2 RP per Rs 100 domestic
Base returnunverified	0.5%
Point valueunverified	Rs 0.25 per point (Card Insider)
Accelerated earn	10 RP per Rs 100 at grocery stores, department stores and CSD canteens
Caps	Max 1,000 accelerated points a month; utility and insurance spend counted up to Rs 40,000 each per cycle; transportation Rs 10,000
Spends that earn nothing	No points on rent, e-wallet loads, cash. Fuel does earn on Parakram cards (MITC).
Points expiry	3 years from issuance
Reward notes	Rs 0.25 per point is from Card Insider, not the issuer. Redemption handling fee Rs 99 + GST per request (Rs 25 for partner-brand online/in-store redemptions) per MITC. base_return_pct = 2/100 x Rs 0.25 = 0.5%.

Travel and perks

Domestic lounge	2 per quarter
International lounge	2 per year via Priority Pass, primary only
Lounge conditions	Spend of Rs 75,000 in the preceding calendar quarter unlocks access for the next quarter (rent, government, education, EMI spends excluded). Primary cardholder only. Rs 2 authorisation at entry.
Forex markup	3.5%
Fuel surcharge waiver	1% on fuel txns up to Rs 4,000 at any pump
Other freebies	Golf: 1 round a month on Rs 50,000 spend in prior month; air accident cover Rs 20 lakh; personal accident cover Rs 2 lakh

Charges and eligibility

Interest per month	3.75%
Late payment fee	Nil <Rs 100; Rs 100 (Rs 100-500); Rs 500 (Rs 501-1,000); Rs 600 (Rs 1,001-5,000); Rs 750 (Rs 5,001-10,000); Rs 900 (Rs 10,001-25,000); Rs 1,100 (Rs 25,001-50,000); Rs 1,300 (>Rs 50,000)
Cash advance fee	2.5% min Rs 500
Eligibility	Indian defence and paramilitary personnel, age 21+
Fine-print notes	Bank-wide transaction fees (MITC): 1% on rent; 1% on fuel txns above Rs 10,000; 1% on utility txns above Rs 50,000; 1% on transportation above Rs 50,000; 1% on education paid via third-party apps; 1% on wallet loads of Rs 5,000+; 2% on skill-based gaming. DCC fee on INR transactions abroad equals the card's forex markup from 15 Jan 2026. Fee-waiver spend excludes rent, government and education payments; a fee reversal forfeits annual gifts.

Questions

What is the annual fee of the ICICI Parakram Select Credit Card?: No annual fee.
Does the ICICI Parakram Select Credit Card give airport lounge access?: Yes. In India: 2 per quarter. Outside India: 2 per year via Priority Pass, primary only. Conditions: Spend of Rs 75,000 in the preceding calendar quarter unlocks access for the next quarter (rent, government, education, EMI spends excluded). Primary cardholder only. Rs 2 authorisation at entry.
What is the forex markup on the ICICI Parakram Select Credit Card?: 3.5% of each foreign-currency transaction, before GST.
Which spends earn no rewards on the ICICI Parakram Select Credit Card?: No points on rent, e-wallet loads, cash. Fuel does earn on Parakram cards (MITC).