Indian Credit Cards for NRIs

Indian credit cards for NRIs are similar to regular credit cards. Cardholders can make online payments, hotel/ flight bookings, bill payments, etc., using a credit card for NRIs. Moreover, you can conduct transactions in INR and don’t have to face hassle of currency conversion.

Also Read: The 5 Best Credit Cards for New Immigrants in the US

Why should NRIs use Indian credit cards ?

Indian credit cards can be of much use to Non-Resident Indians, NRIs, when they travel to India and even abroad. These cards will allow them to avoid foreign transaction fees and allow them access to their funds fast in India, even from abroad. These cards allow NRIs to transact in rupees in India instead of requiring a currency conversion each time. NRIs can use these credit cards to make travel bookings, purchases, online payments and bill payments. 

These cards also offer many rewards and benefits particularly suited for NRI travel and visits to India. Some NRI credit cards offer air-mile earning, travel vouchers, domestic and international airport lounge access, particularly beneficial for travel. Others offer online shopping, dining and movies. Below we have listed these benefits, rewards and features by card. 

In this article we will talk about:

1. Some of the best NRI credit cards and their features, rewards and benefits 
2. The eligibility criteria for these cards 
3. Documents required for NRI credit cards 

Things to keep in mind while using NRI  credit cards abroad:

If Indian credit cards are used abroad, the payment has to be made in the currency of the country on which a conversion charge is applied. These types of international transactions incur network charges of upto 3.5 % of the value of the transaction. 

Best Indian credit cards for NRIs: Rewards and Benefits

The ICICI Bank NRI Coral Credit Card is best for:

• Lounge access, movies and dining
• Annual fee of Rs.500
• Joining fee of Rs.1000 
• Two complimentary lounge visits per quarter 
• Buy 1 ticket and get the other ticket free any day of the week on BookMyShow 
• 15% on your dining bill at over 2,500 participating restaurants 

The Kotak NRI Royale Signature Credit Card is best for:

• Online shopping and rewards 
• Annual Fee of Rs.1000
• Joining Fee is 0
• 2 reward points for every Rs. 200 spent outside India 
• 1 reward point for every Rs.200 spent within India 
• Fuel Surcharge Waiver (Applicable on transactions between Rs.500 and Rs.3000)

The Axis Neo Credit Card is best for:

• Movies and Online Shopping 
• Annual Fee Rs.250
• Joining Fee Rs.250 
• Minimum 15% off at partner restaurants
• 2 Reward points on every Rs.200 spent 
• 10% off on movies, recharges and online shopping 

The HDFC Regalia Credit Card is best for:

• International airport lounge access
• Annual Fee Rs. 2,500
• Renewal Fee of Rs.2,500
• Lowest foreign markup fee of 2%
• Complimentary Priority Pass Membership
• Priority check-in and excess baggage allowance for Vistara Airlines

The Citi premier Miles Credit Card is best for: 

• Air mile earning 
• Annual fee Rs.3000
• Renewal Fees Rs.3000
• 10 miles for every Rs.100 spent on Airline transactions
• Transfer miles to airline partners (2:1 ratio)
• Complimentary access to airport lounges 

The ICICI Bank NRI Sapphiro Credit Card is best for:

• Lounge access, movies, dining 
• Annual Fee Rs. 3500
• Joining Fee Rs. 6500
• 4 complimentary domestic airport lounge visits per quarter
• 4 complimentary rounds of golf every month
• 2 PAYBACK Points on every Rs.100 spent on all domestic purchases 

SBI card ELITE is best for:

• Lounge Access, movies and dining 
• Annual Fee Rs.4,999
• Renewal Fee Rs.4,999
• 2 complimentary domestic airport lounge visits per quarter
• Lowest forex markup fee of 1.99%
• Complimentary Priority Pass Membership  

The American Express Platinum Travel Credit Card is best for:

• Travel vouchers and lounge access 
• Annual Fee Rs.3500
• Renewal Fee Rs 5000
• Taj Experience gift card worth RS 10,000
• 4 complimentary visits per year 
• Spend Rs.1.90 lakh and get travel vouchers worth Rs.770

Things to keep in mind while using NRI  credit cards abroad:

If Indian credit cards are used abroad, the payment has to be made in the currency of the country on which a conversion charge is applied. These types of international transactions incur network charges of upto 3.5 % of the value of the transaction. 

Eligibility Criteria for an NRI credit card:

1. NRIs need to have a Non-Resident Ordinary (NRO) or Non-Resident External account (rupee). The type of the NRE/NRO account with the bank can be

• Term Deposit
• Current Account 
• Savings Account
• Fixed Deposit Account

2. Many banks may need a minimum amount of money invested in Fixed Deposits (FDs)
3. Some banks may need a minimum balance to be maintained in the account 

Documents required for an NRI Credit Card 

A recap of the benefits and rewards of Indian credit cards for NRIs:

There are various options to suit the various needs of NRI’s. Travel, dining, online shopping, air miles, domestic and international airport lounges are just a few of the examples. Some cards are especially suited for international travel which is particularly useful for NRIs. The fact that NRIs don’t have to pay any foreign transaction fees while transacting in India is very important. This article is a continuation of the previous article “The 5 Best Credit Cards for New Immigrants in the U.S.”

Before finalizing a credit card, you must compare the features and benefits of various credit cards and select the one that suits your needs best.

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Indian Credit Cards for NRIs – FAQ