Non-resident Indians can now apply for Indian credit cards through dedicated NRI variants designed specifically for overseas residents. According to reports from Mint, these cards are unsecured and eligibility is primarily linked to the customer's relationship with the bank or foreign currency income. The most common benchmark is Total Relationship Value (TRV), which represents the combined balance held across NRE/NRO accounts and deposits. ICICI Bank requires a minimum TRV of ₹50 lakh across NRE or NRO accounts for some NRI credit card variants, while banks may also ask for overseas income proof and foreign bank statements.
The application process requires documentation including proof of overseas residency, address proof, and completion of Indian KYC formalities. As reported by Mint, one practical hurdle is that most banks still require applicants to be physically present in India to complete biometric KYC, meaning many NRIs must time applications around trips home. There are also restrictions on add-on cards, with NRIs as primary cardholders allowed to apply for add-on cards for family members, but resident cardholders cannot get add-on cards for their NRI family.
For NRIs without large balances in Indian banks or seeking easier approval, secured credit cards backed by fixed deposits offer a practical alternative. According to Mint reports, under this structure, customers open an NRE or NRO account, create a fixed deposit, and receive a card with a limit usually set at 75-90% of the FD amount. A ₹5 lakh FD could generate a credit limit of ₹3.75-4.5 lakh. The biggest advantage is that banks generally do not ask for Indian or overseas income proof because the FD acts as collateral, with approval rates tending to be higher.
Premium Indian cards carry annual fees ranging from ₹15,000 to ₹30,000, plus GST, which only makes sense if spending and rewards are high enough to recover the cost. As reported by Mint, the larger issue is forex markup, with each transaction attracting a forex fee of 1.5-4%, which can significantly dilute rewards since most spending happens overseas. The practical approach is to compare reward rates with forex charges, as a card offering 3% rewards on overseas spends but charging 2% forex fees still generates positive value, though far lower than the advertised reward rate.
