🌍 NRO/NRE Account & Forex Card Guide
🔹 What Are NRE and NRO Accounts?
NRE (Non-Resident External) Account:
Maintains foreign income
Fully repatriable (funds can be moved abroad)
Tax-free in India
NRO (Non-Resident Ordinary) Account:
Used to manage income earned in India (rent, dividends, etc.)
Partially repatriable
Interest is taxable
💳 Can NRIs Get a Forex Card Linked to NRE/NRO?
✅ Yes, but with important points:
| Account Type | Forex Card Allowed | Notes |
|---|---|---|
| NRE | ✅ Yes | Must load with foreign currency, usage for outward travel only |
| NRO | ✅ Yes (with limits) | Usage restricted as per RBI rules; declaration required |
| FCNR | ❌ No | Not allowed for direct debit to Forex cards |
Important: You cannot directly link an NRE/NRO account to a Forex card like a debit card. Instead, funds from these accounts are used to load the card.
📝 Documents Required for NRI Forex Card (via NRE/NRO)
Valid passport (self-attested)
Valid visa / OCI / PIO card
NRE/NRO account proof
PAN Card
Address proof (India or overseas)
Recent photo
Air ticket or visa copy (some banks require)
💰 Key Fees & Charges (HDFC / SBI / ICICI – Approx.)
| Fee Type | Typical Amount |
|---|---|
| Card Issuance | ₹300 – ₹1000 + GST |
| Reload Fee | ₹75 – ₹100 + GST |
| Cross-Currency Markup | 0% (premium cards) or 2% |
| ATM Withdrawal | ₹125 – ₹200 per txn |
Charges may vary by bank and card type. Always confirm with your branch.
🧾 How to Apply (NRI Forex Card)
Option 1: Online (Preferred for HDFC, ICICI, Axis)
Visit bank’s Forex Card portal
Example: HDFC Forex CardsSelect card → Fill form → Upload documents
Load currency via NRE/NRO → Submit
Card dispatched or picked up
Option 2: Via NRI Branch
Visit NRI-designated branch
Submit filled form with KYC documents
Request to load card from NRE/NRO
Collect card (same day or next)
🌐 Best Banks Offering NRI Forex Cards:
| Bank | Card Name | NRE/NRO Compatible |
|---|---|---|
| HDFC Bank | Multicurrency ForexPlus, Regalia | ✅ Yes |
| ICICI Bank | Coral Forex Card, Student Card | ✅ Yes |
| Axis Bank | Multicurrency Forex Card | ✅ Yes |
| SBI | Foreign Travel Card | ✅ Yes |
🛡️ Benefits of NRI Forex Cards
Safer than carrying cash
Avoid dynamic currency conversion
Accepted worldwide (POS, ATM, online)
Insurance cover & emergency cash
Easy reload from NRE/NRO accounts
FAQ – HDFC Forex Card for NRE/NRO Accounts
1. Can NRIs get HDFC Forex Cards using NRE or NRO accounts?
Yes. NRIs can apply for HDFC Forex Cards and fund them using their NRE or NRO accounts, depending on RBI guidelines.
2. Can I directly link my NRE/NRO account to the HDFC Forex Card?
No. HDFC Forex Cards are prepaid cards. You can load the card using funds from your NRE or NRO account, but they are not directly linked.
3. Which HDFC Forex Cards support NRE/NRO loading?
Cards like Multicurrency Platinum ForexPlus and Regalia ForexPlus support loading via NRE/NRO accounts after document verification.
4. Is the HDFC Forex Card usage allowed for NRIs in India?
No. Forex cards are meant strictly for international travel and usage outside India.
5. Are there tax implications while using NRO accounts to load a Forex card?
Yes. NRO account interest is taxable. However, loading the card is not taxed separately unless there’s a violation of LRS norms.
6. Can students with NRE/NRO accounts get HDFC Student Forex Cards?
Yes. The ISIC Student ForexPlus Card is available to students traveling abroad, and can be loaded via NRE/NRO accounts.
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