NRI Credit Cards

The significant advantage of these credit cards is that they allow you to make the payment in Rupees and not go into the hassles of currency conversion for each and every transaction. Listed below are the top credit cards best suited for NRIs.

Credit Card	Best For	Annual Fee
ICICI Bank NRI Coral Credit Card	Lounge Access, Movies, Dining	Rs. 500
Kotak NRI Royale Signature Credit Card	Online Shopping, Rewards	Rs. 1,000
ICICI Bank NRI Sapphiro Credit Card	Lounge Access, Golf, Movies	Rs 3,500

1. ICICI Bank NRI Coral Credit Card

Joining Fee: Rs.1,000 | Annual Fee: Rs.500 ● 2 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

2. Kotak NRI Royale Signature Credit Card

Joining Fee: Nil | Annual Fee: Rs.1000 ● 2 rewards 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)

3. ICICI Bank NRI Sapphiro Credit Card

Joining Fee: Rs.6500 | Annual Fee: Rs.3500 ● 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

Following is the predefined eligibility criteria to apply for an NRI Credit Card-

• NRIs should have a Non-Resident Ordinary (NRO) or Non-Resident External Rupee (NRE) account.  The type of NRE/NRO account with the bank can either be term deposit, current account, savings account or a fixed deposit account
• Many banks may require a minimum amount of money invested in Fixed Deposits (FDs)
• Some banks may require a minimum balance to be maintained in the account

Following is the list of documents that are required to be submitted. It is to be noted that the photocopy of the below-mentioned documents is required to be submitted. However, the bank may ask for original documents for verification. Any 1 out of each category of documents is required to be submitted.

Proof of Identity	PAN Card, Aadhaar Card, Passport, Voter’s ID Card, Driving License, Ration Card, Arms License, Freedom Fighter’s ID Card or any other photo ID proof duly signed by a Gazetted Officer and legally accepted in the country
Proof of Address	Passport, Aadhaar, Voter’s ID Card, Ration Card, Driving License, Lease/Rent Agreement, Property Documents, Utility Bills (not more than 3 months old), any other address proof legally accepted in the country
Proof of Income	Salary Slip (last 3 months), Bank Statement (last 6 months), Form-16, ITR, etc.

When you opt for an NRI credit card, there are a few things you should consider beforehand. Some of the important points are listed below:

1. Fees: There will be different kinds of fees levied on your NRI credit card. Depending upon the specific card variant, you may have to pay annual fees, processing fees and joining fees at the time of card issuance.
2. Finance Charges: You should check for the credit card interest rates charged by the credit card issuer before making a choice. Also, compare the finance and cash advance charges by different banks before making a decision.
3. International Acceptance: You should be aware of the international acceptance of your credit card. You should try to find out the countries where your card would be accepted and the countries where it won’t be.
4. ATM Usages: You should also be aware of the applicable charges which will be levied when you withdraw cash from ATMs in India and abroad.
5. Card Protection: You should also know if the bank provides you services like emergency card replacement, zero lost card liability, etc. in case the card is lost or stolen.
6. Foreign Currency Markup Fee: You should also be aware of the fact that if there is any foreign currency markup fee charged on your credit card. This fee is levied on using credit cards for making transactions in another country. The lower this is, the better.
7. Other Charges: This is another important parameter that you should be aware of i.e. how much you are going to be charged in case of late payments, replacement of lost card or cancellation
8. Payment Process: You should also be aware of the various types of payment options that are available. Payment options can be in the form of IMPS / NEFT / Cheque / Cash.

You can apply for an NRI Credit Card both online as well as offline. However, to apply for an NRI Credit Card, it is mandatory to have a Non-Resident Ordinary (NRO) or Non-Resident External Rupee (NRE) account.  The type of NRE/NRO account with the bank can either be term deposit, current account, savings account or a fixed deposit account.

Steps to apply for NRI Credit Card Online

 Step 1- You can visit the official website of the preferred bank and apply for a credit card by filling out some basic details like name, email ID, contact number, income, address, etc.

Step 2- You will get a call from a representative of the respective bank who will guide you through the process.

Step 3- A representative will also come to collect your documents at your doorstep.

 Steps to apply for NRI Credit Card Offline

Step 1- Just visit the nearest bank branch and ask about your preferred card variant.

Step 2- The representative will tell you about the cards that match your needs.

Step 3- You will have to fill the application form and provide some documents such as identity proof, address proof, etc.

Step 4- You will also be required to provide proof of income and passport-sized photographs.

NRI credit cards offer various unique benefits to users. Following listed are some of the advantages of the same-

Reward Points: Purchases made using an NRI credit card whether in India or abroad lets you earn reward points.

Surcharge Waiver: Some NRI credit cards also provide a waiver on a purchase of fuel at petrol pumps and a similar benefit may also be availed while making train bookings in India.

Cash Back: Depending on the card and available offers, you can receive cashback as per the applicable rate.

Avoiding Currency Conversion Charges: This is one of the most important advantages of an NRI credit card. These cards eliminate the issue of conversion of currency which helps save conversion charges in the long term.

Revolving Credit Option: All NRI credit cards, whether secured or unsecured, offer the facility of revolving credit so that you can avail the benefit of interest-free periods and they also have an option of carrying forward the balance amount to the subsequent month.

ATM Access: These NRI credit cards provide you with the facility to access cash at MasterCard or VISA ATMs. Currently, this facility is only available outside India.

Add on Cards: You can also avail the facility of supplementary cards or add-on cards on your NRI credit card and these add-on cards can be used by their family members irrespective of their credit score or prior relationship with the card issuer.

Easy Payment Options: You can easily make payments of your credit card via NRE, NRO or FCNR accounts.

What is proof of NRI status?

You have to provide proof of residence abroad in the form of employment details, student status, dependent visa status, or a copy of the resident permit in the overseas destination.

Can NRI get an Aadhar card?

Yes, an NRI (whether minor or adult) with a valid Indian Passport can apply for Aadhaar from any Aadhaar Kendra.

Can NRI apply for a credit card?

Yes. As a Non-Resident Indian (NRI), you may want a credit card to use while travelling to India to avoid foreign transaction fees and access funds quickly in case of an emergency.

Can I have 2 NRI accounts?

Yes, you can open more than one NRE, NRO or FCNR accounts with different banks in India.

What is the difference between NRE and NRI?

An NRE account is a bank account opened in India in the name of an NRI, to park his foreign earnings while an NRO account is a bank account opened in India in the name of an NRI, to manage the income earned by him in India.