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Features and Benefits

The ICICI BANK PARAKRAM SELECT credit card comes with great features and benefits that give you value back on your every purchase. Not only that, but the ICICI bank also offers you exclusive dining privileges with partnered restaurants. Here is a detailed view of what features and benefits this card can get its user –

Reward Rate

• 5X reward points on every Rs. 100 spent on groceries, department stores, and CSDs (max capped at 1,000 points per month).
• 2 reward points for every Rs. 100 spent on other applicable expenses.
• Fuel, ATM withdrawal, balance transfer, cash withdrawal, EMIs, PLCC, fees, and other charges are not eligible to earn reward points.

Reward Points Redemption

• The reward points can be redeemed against a variety of options available on the bank’s website.
• You can also get vouchers from your favorite brands.
• You will be charged Rs. 99 for every reward redemption request you make.
• The rewards redemption rate is Rs. 0.25 for 1 RP.

Milestone Benefits

• If you spend more than Rs. 50,000 in a month, you can get complimentary golf rounds at the best destinations.
• You can avail of this benefit a maximum of 4 times a month.

Dining Benefits

• You can get exclusive dining discounts with the ICICI Bank Culinary Treats Programme.

Domestic Lounge Access

• 2 complimentary domestic airport lounge access per quarter.
• 1 free international airport lounge access each year.

Fuel Surcharge Waiver

• 1% fuel surcharge waiver at all outlets across the nation.

Insurance Benefits

• You get Personal accident insurance of Rs. 2 Lakh.
• You will also get air accident coverage of Rs. 20 lakh.

Fees

• There is no joining or annual fee related to this card.
• You will be charged a sum of Rs. 99 on every reward redemption request.
• Foreign currency markup fee charged with this credit card is 3.5% per month or 42% annually.
• The interest rate of 3.40% per month or 40.8% annually is charged.
• 50% of the withdrawn amount or the subject to a minimum of Rs. 300 is charged as Cash Advance Fee.
• There is no charge related to this credit card, such as an add-on card fee.

Conclusion

The ICICI BANK PARAKRAM SELECT Credit Card is devoted to the country’s JAWANS. For all that they do for us and the country, this credit card is a small gesture of their sacrifice. It’s not free, but it can provide funds in case of emergency and even for their daily needs.

The credit card is very well built, keeping in mind the daily needs of the defense personnel. As most defense people shop from CSDs, they will be able to avail of 5X reward points and much more. This credit card comes with a variety of benefits and features that can make your shopping, traveling, dining, etc. There are other added features, such as Personal accident insurance coverage and much more. The tough competitors of these two credit cards are Axis Bank Pride Platinum Credit Card and Shaurya SBI Credit Card, as well as two other variants by the banks.