Current lithium-ion batteries should generally only be charged above 0 °C, as charging below this temperature can promote lithium plating and irreversible degradation. However, conventional pack-level heating elements increase system mass and design complexity. In addition, heat is transferred from outside into the cell, causing the temperature inside the cell to rise slowly. This study evaluates internal Joule heating of cylindrical Li-ion cells using a zero-mean square-wave current excitation and quantifies the associated aging impact. LG INR21700-M50L cells were tested at 0 °C, −10 °C, and −20 °C with three excitation frequencies (50 Hz, 1 Hz, 10 mHz) at 5 A amplitude. Each cycle consisted of 30 min heating followed by 60 min cooling; reference capacity-based state of health (SOH) was assessed every 50 cycles up to 400 cycles. A maximum surface temperature rise of 14.3 K was achieved, with larger temperature rise at lower ambient temperature and lower excitation frequency. Capacity fade remained below approximately 1% for most conditions; however, at −20 °C and 10 mHz a pronounced SOH decrease to 87% was observed, indicating a critical operating regime. The results provide practical guidance for pulse-heating parameter selection and highlight the need for safeguards and further diagnostics in extreme low-frequency excitation at very low temperatures. This heating approach is particularly suitable for simpler battery-electric applications without thermal management, such as e-bikes or power tools. However, it may also be relevant for applications with existing thermal management systems, as it simplifies battery pack design.