NRI credit card can be used to shop, dine or travel when a NRI is in India. The amount can be paid in Indian rupees like any other credit cards.
The outstanding payment has to be made through inward remittances of either an NRO, NRE or FCNR account.
While, this credit cannot be used for some purposes like lottery tickets or race tickets.
Fees and charges
The credit cards will have basic fees and charges applied to the NRI credit card like annual fees, joining fees, membership fees, fee on withdrawal, fee as tax (custom duty), etc.
Interest rates on credit cards varies from bank to bank. However, in case of withdrawal it will be calculated from the date of transaction.
With SBI credit card, one can pay any amount from the minimum amount due to the total amount due outstanding as shown in your monthly statement. Also, you can then carry forward the unpaid balance at 1.99% p.m.
With your SBI Card you have instant access at 1 million Visa ATMs worldwide including over 18,000 Visa ATMs in India
NRI Credit Card Providers:
Most of the banks in India have started providing this facility to NRIs. Some of them are:
Kotak Mahindra Bank
Some of the NRI credit cards also offer travel insurance along with credit cards. Which can help to secure you from unforeseen losses due to robbery, high jacking etc.