ICICI Bank Platinum Chip Debit Card – Benefits, Fees & Eligibility

Introduction

The Platinum Debit Card from ICICI Bank is designed for individuals seeking premium banking conveniences and rewards. It offers high online transaction limits, a robust reward points program on qualified purchases, and a fuel surcharge waiver. Key differentiating benefits include quarterly domestic airport lounge access, enhanced security with chip-enabled technology, instant SMS alerts for transactions, and detailed itemized billing. This card is particularly beneficial for customers enrolled in specific banking programs like Select Banking, Wealth Management, or Private Banking, or those maintaining higher account balances and relationship values.

Transaction Limits & Usage

• Daily ATM Withdrawal Limit:
  • Domestic: ₹50,000
  • International: ₹1,00,000
• Daily POS/Online Transaction Limits:
  • Domestic: ₹3,00,000
  • International: ₹1,25,000
  • Online transactions (internet buying, bill payment processing, ticket booking): Up to ₹7.5 lakhs daily.
• Tap and Pay: Available for PIN-free Debit Card transactions using an Android Phone.
• Security: Features safe chip technology for enhanced protection in both offline and online transactions.
• Alerts: Instant SMS alerts are sent for every transaction made.
• Tracking: Itemized billing is provided in your bank statement, detailing purchases with date, merchant's name, and amount.

Fees and Charges

• Annual Fee: ₹300 + GST
• Replacement Fee: ₹300 + GST
• Fuel Surcharge:
  • Zero fuel surcharge on transactions done on ICICI Bank Point of Sale (POS) machines at HPCL, IOCL, and BPCL outlets.
  • If the transaction takes place on a non-ICICI Bank terminal, the surcharge may be first assessed but will be reversed upon receipt of reimbursement from the acquiring bank.

Rewards & Offers

• Reward Points on Spends:
  • Earn 1 point on every ₹200 spent on domestic transactions.
  • Earn 2 points on every ₹200 spent on international transactions.
• Reward Point Redemption: Redeem reward points for categories such as Health and beauty, Travel and luggage, Shopping Vouchers, Home Appliances, Electronics, and Fashion and lifestyle.
• Excluded Categories for Rewards: Reward points are not applicable for transactions under Mutual Funds, Telecom, Education, Utilities, Insurance, Government Payments, Fuel, Post Office, Wallet, and Account Transfers.
• Domestic Airport Lounge Access:
  • Get up to 1 domestic airport lounge access per quarter.
  • Eligibility Criteria:
    • Applicable if enrolled in the Select Banking Program and have opened a Savings Account on or after August 1, 2025.
    • Requires minimum spends of ₹10,000 quarterly OR meeting program eligibility of deposits & balances of ₹2 Lakhs quarterly OR a Relationship value of ₹25 lakhs (Deposits + Account balance + Investments + Demat holdings) quarterly.
    • Spends cycle: Spends incurred between the 1st and 31st of the three months of a calendar quarter will be considered, and lounge access will be provided starting the 5th of the month following the quarter end.
  • Family Banking (Savings):
    • Customers opting for family banking must maintain 1.5X of the program eligibility criteria at the Family ID level for all family members to enjoy lounge access.
    • If the criteria are not met at the family ID level, then individual spends criteria of ₹10,000 in the previous quarter shall apply.
  • Family Banking (Salary):
    • Individual spends of ₹10,000 on the Debit Card in the last quarter are checked for all.
    • If criteria are not met and family members with Savings Accounts are part of Select Banking, Wealth Management, or Private Banking programs, individual program eligibility criteria will be considered to provide lounge access.
    • For Salary Account holders, only ₹10,000 spends on the Debit Card in the previous quarter will be considered.

Account & Eligibility Criteria

• Linked Account Tiers: The card is linked to various account tiers, including Savings Accounts and Salary Accounts.
• Program Eligibility for Lounge Access: Customers enrolled in the Select Banking Program, Wealth Management, or Private Banking programs are eligible for lounge access based on specific criteria.
• Minimum Balance/Relationship Value for Lounge Access: Requires meeting program eligibility of deposits & balances of ₹2 Lakhs quarterly OR a Relationship value of ₹25 lakhs (Deposits + Account balance + Investments + Demat holdings) quarterly.

Debit Card Review

The Platinum Debit Card is best suited for individuals who prioritize convenience, higher transaction limits, and a rewarding experience on their daily spends. It offers significant benefits like a fuel surcharge waiver, a robust reward points program, and valuable domestic airport lounge access, especially for those who meet the eligibility criteria for premium banking programs. The card's chip-enabled security, instant alerts, and itemized billing enhance control and safety. While it comes with an annual fee and replacement fee, the benefits can outweigh these costs for frequent spenders and those who can leverage the lounge access and reward points effectively.

Important Product Details

• Positive Highlights:
  • Higher transaction and purchase limits (up to ₹7.5 lakhs daily for online transactions).
  • Reward points on both domestic and international spends.
  • Zero fuel surcharge at specific ICICI Bank POS machines at HPCL, IOCL, and BPCL outlets.
  • Tap and Pay functionality for quick, PIN-free transactions.
  • Quarterly domestic airport lounge access (subject to eligibility).
  • Instant SMS alerts for all transactions.
  • Itemized billing for easy expense tracking.
  • Enhanced security with safe chip technology.
• Negative Highlights:
  • An annual fee of ₹300 + GST applies.
  • A replacement fee of ₹300 + GST applies.
  • Specific eligibility criteria, including minimum spends or account balances/relationship values, are required for lounge access.
  • Certain categories of transactions are excluded from the reward program.
• Card Variant: Chip-enabled Debit Card.

Other Details

• All features and benefits are subject to applicable Terms & Conditions (T&Cs).