Looking to travel abroad or shop online from international stores without worrying about hefty currency conversion fees? If so, choosing the right credit card can make a big difference in your expenses. In India, there are several credit cards that offer zero foreign exchange (forex) markup fees, meaning you won’t be charged extra for transactions made in foreign currencies. These cards are a boon for frequent travelers, online shoppers, and anyone who wants to save on foreign exchange costs easily. In this article, we’ll explore a comprehensive list of zero forex credit cards in India, explaining their key features, benefits, and how they can help you make the most of your international spending. Whether you’re planning a trip or simply want to shop globally without extra charges, this guide will help you find the perfect card tailored to your needs. So, let’s get started!
What is a zero forex markup credit card?
A Zero Forex Markup Credit Card is a kind of card that helps you save money when you buy things in other countries or from foreign websites. Normally, when you use a regular credit card to pay for something in a foreign currency, like when you shop online from an international website or buy something while traveling abroad—the bank adds an extra fee called the forex markup. This fee is usually between 2% to 5% of the total transaction amount and is charged on top of the currency exchange rate. This means you pay more than the actual cost.
However, a zero forex markup credit card does not charge this extra fee. When you use this card, you only pay the real exchange rate used by the card network (like Visa or Mastercard) to convert the foreign currency into your home currency. This real exchange rate is much closer to the true market rate or interbank rate, which banks use when they trade currencies with each other. So, with a zero forex markup card, you avoid the additional 2% to 4% fee charged by most banks.
For instance, If you buy something that costs $100 USD:
- Regular credit card: You pay ₹1000 × 89 (rate) + ₹356 + 64.08 (forex charges @ 4% + 18% GST on fee) = ₹9,676.08
- Zero forex card: You pay ₹100 × 89 (rate) only = ₹8,900
You save ₹776 on this purchase!
Now, here’s the list of all zero forex credit cards in India!
IDFC FIRST Mayura
The IDFC FIRST Mayura Credit Card is a premium metal credit card offering zero forex markup charges on all international transactions.
Joining fee and annual fee: IDFC FIRST Mayura comes with a joining fee and an annual fee of ₹5,999 plus GST each.
Reward points: You earn 1 reward point on every ₹150 spent using IDFC First Mayura Credit. If you spend above ₹20,000 in a monthly statement cycle you get 10x reward points whereas you get 5 reward points if you spend up to ₹20,000.
Moreover, you can get 50X rewards on Travel bookings for hotels via IDFC FIRST Bank mobile app and 30X reward points on Travel bookings for flights via IDFC FIRST Bank mobile app.
Reward redemption: For every reward point you can get ₹0.25. You can also get ₹0.50 per point if you redeem them for hotel and flight bookings through the “Travel and Shop” section of the IDFC FIRST Bank mobile app.
Lounge access: IDFC FIRST Mayura provides 4 complimentary domestic airport lounge visits every quarter (three months) where you can bring 1 guest, and 4 complimentary international lounge visits every quarter.
Interest charges: The finance charge on the card can go up to 47.88% annually.
The card also offers interest-free global ATM cash withdrawals for up to 45 days with a ₹199 plus GST transaction fee per withdrawal.
Federal Bank Scapia Credit Card
The Federal Bank Scapia Credit Card with zero forex markup charges designed primarily for frequent travellers.
Joining and annual fee: This card has no joining fee and no annual fee, making it completely free to use throughout its validity.
Reward points: The Federal Scapia card operates on a Scapia Coins system rather than traditional reward points. You earn 10% rewards on all your eligible online and offline spending if you have a Federal Scapia Visa card and 5% if you spend above ₹500 if you have a Rupay card.
However, if you make travel bookings through the Scapia app, you earn 20% Scapia Coins.
Reward redemption: 5 Scapia Coins = ₹1, meaning each Scapia Coin is worth ₹0.20. These coins can only be redeemed for travel bookings (flights, hotels, and bus) made through the Scapia app.
Lounge access: With the Federal Bank Scapia Credit Card, you get unlimited domestic airport lounge access, provided you meet the monthly spending criteria—spend ₹10,000 in the billing cycle on the Visa variant or ₹15,000 on the RuPay. The card does not currently offer international lounge access.
Interest charge: The finance charge on the Federal Bank Scapia Credit Card is 45% annually (3.75% per month) on unpaid balances and cash withdrawals. EMI transactions attract a lower interest rate of 16% per annum for tenures between 3–24 months.
RBL Bank World Safari Credit Card
The RBL Bank World Safari Credit Card is a premium travel credit card that offers zero foreign exchange markup on all international transactions.
Joining and annual fee: RBL Bank World Safari Credit card requires a joining fee of ₹3,000 plus GST and an annual renewal fee of ₹3,000 plus GST.
Reward points: The RBL World Safari earns 2 reward points for every ₹100 spent on domestic retail transactions and 5 reward points for every ₹100 spent on eligible travel purchases. International transactions do not earn reward points.
Reward redemption: Each reward point is worth ₹0.25 when redeemed. Additionally, you can earn 10,000 bonus reward points if you spend ₹2.5 lakh or more annually and 15,000 bonus reward points if you spend ₹5 lakh or more annually .
Lounge access: RBL Bank World Safari Credit Card offers 2 complimentary domestic airport lounge visits per quarter. You will be eligible for 2 more complimentary domestic lounge visits per year if you spend ₹ 35,000 or more in the previous calendar year.
You get 2 additional complimentary lounge visits outside India each calendar year Also you get a complimentary Priority Pass membership which gives you access to over 1,400 international lounges and. If you spend ₹50,000 or more in a calendar quarter via RBL Bank World Safari credit card, you can earn an extra airport lounge visit.
Interest charges: The finance charge on the RBL Bank World Safari Credit Card is up to 3.99% per month, which equals 47.88% annually.
Axis Bank Burgundy Private Credit Card
The Axis Bank Burgundy Private Credit Card is an exclusive, invite-only premium credit card designed with zero forex mark-up charges on international transactions.
Joining fee and annual fee: The card is free for Burgundy Private account holders. Otherwise it has a joining fee of ₹50,000 plus GST and an annual renewal fee of ₹50,000 plus GST for non-account holders.
Reward points: The Axis Burgundy Private earns 15 Edge Reward points for every ₹200 spent on eligible transactions, which translates to a 1.5% reward rate. The card also provides a welcome bonus of 30,000 Edge Reward points on the first transaction.
Reward redemption: Each Edge Reward point is worth ₹0.20 when redeemed through the Edge Rewards portal for shopping, flight and hotel bookings, gift vouchers, or various products.
Lounge access: With the Axis Bank Burgundy Private Credit Card, you get unlimited complimentary domestic airport lounge access, along with 12 complimentary guest visits per year at domestic lounges.
For international travel, you enjoy unlimited complimentary international lounge access if you have Priority Pass membership.
Interest charges: The finance charge on the Axis Bank Burgundy Private Credit Card is 1.5% per month, which equals 19.56% annually on unpaid balances.
Club Vistara IndusInd Bank Explorer Credit Card
The Club Vistara IndusInd Bank Explorer Credit Card is a premium co-branded travel credit card offering zero forex mark up charges on international spendings.
Joining and annual fee: This card carries a joining fee of ₹40,000 plus GST and an annual renewal fee of ₹10,000 plus GST.
Reward points: You earn 8 Club Vistara (CV) Points per ₹200 spent on Vistara website and app bookings, 6 CV Points per ₹200 spent on hotels, airlines, and travel-related purchases, 1 CV Point per ₹200 on utilities, insurance, government payments, and fuel and 2 CV Points per ₹200 on all other spends.
Reward redemption: Each CV Point is worth approximately ₹1 when redeemed for travel bookings on Club Vistara and partner platforms. The card also provides up to 5 complimentary Vistara Business Class ticket vouchers every year based on milestone spends (₹3 lakh per voucher, capped at 5 vouchers annually).
Lounge access: With the Club Vistara IndusInd Bank Explorer Credit Card, you get 1 complimentary domestic airport lounge visit every quarter. For international lounge access, you receive 4 complimentary visits per calendar quarter via complimentary Priority Pass membership, which provides access to over 1,400 premium lounges globally.
Interest charges: The finance charge on the Club Vistara IndusInd Bank Explorer Credit Card is 2.85% per month, which equals 34% annually on unpaid balances.
Ixigo AU Credit Card
The Ixigo AU Credit Card is a co-branded travel credit card that offers zero forex mark up charges.
Joining fee and annual fee: Ixigo AU credit card has zero joining and annual fee, it’s a life-time free credit card.
Reward points: Ixigo AU earns 10 reward points per ₹200 spent on online purchases, 5 reward points per ₹200 spent on offline purchases. The card also provides a welcome benefit of 1,000 reward points and ₹1,000 worth of Ixigo Money vouchers on the first transaction within 30 days of card issuance. The card also provides access to railway lounges and offers a 10% discount on flight, bus, and hotel bookings through the Ixigo platform.
Reward redemption: Each reward point is worth ₹0.25 whereas the value of 1 reward point is 50 paise on ixigo money redemption.
Lounge access: With the Ixigo AU Credit Card, you get 16 complimentary domestic airport lounge and railway lounge access per year, provided you spend a minimum of ₹20,000 in a calendar year.
You also receive 1 complimentary international lounge visit per year through Priority Pass membership.
Interest charge: The finance charge on the Ixigo AU Credit Card is 45% annually on unpaid balances and cash withdrawals.
IDFC FIRST WOW!
The IDFC FIRST WOW! Credit Card is a unique deposit-backed credit card that provides zero forex markup on all international transactions.
Joining fee and annual fee: There's no joining fee and no annual renewal fee—it's a life-time free credit card. Being a secured credit card, it requires creating a minimum Fixed Deposit (FD) of ₹20,000 with IDFC FIRST Bank during the credit card application process online.
Reward points on the IDFC FIRST WOW!: You can earn 4 reward points on every spend of ₹150 online, offline, and international spends. Which means if you pay 150 rupees on eligible transactions, you will get 4 reward points.
Whereas you get 1 reward point on insurance premium payments and utility bill payments. Certain categories like fuel, insurance, and EMI transactions don't earn rewards.
Rewards redemption: With IDFC FIRST WOW! 1 Reward Point = ₹0.25. For instance, if you have accumulated 1000 reward points, it translates to ₹250.
Lounge access: IDFC FIRST WOW! Credit Card does not offer any airport or railway lounge access.
Interest charges: The finance charge on the IDFC FIRST WOW! Credit Cards can be up to 3.85% per month hence 46.2% annually.
The card offers interest-free cash withdrawals up to 48 days on up to 100% of your FD's value.
BookMyForex True Zero Markup Card
The BookMyForex True Zero Markup Card is a multi-currency forex offering zero markup rates.The card's primary advantage is that it offers the true interbank exchange rate—the exact live rate you see on search engines—with zero markup added.
Joining fee and annual fee: BookMyForex True Zero Markup Card has no joining fee and no annual renewal fee.
Reward points or cashback: BookMyForex True Zero Markup Card does not earn traditional reward points.
Lounge access: With the BookMyForex True Zero Markup Card, there is no direct airport lounge access benefit. However, the card offers a free international SIM.
Interest charges: The finance charge on the BookMyForex True Zero Markup Card is not applicable in the traditional sense since this is a prepaid forex card, not a credit card. There are no interest charges on balances as you load funds into the card before spending.
HDFC Bank Regalia ForexPlus Card
The HDFC Bank Regalia ForexPlus Card is a single-currency prepaid forex card designed specifically for frequent international travellers.
The card's primary value proposition lies in its zero cross-currency markup charges on international transactions. You load the card with US Dollars and can spend in any currency worldwide without additional markup.
Joining fee and annual fee: Unlike traditional credit cards, this is a prepaid travel card with a card issuance fee of ₹1,000 plus GST. There is no annual renewal fee; instead, you pay a reload fee of ₹75 plus GST for each time you reload money into the card.
Reward points: There’s no reward points or cashback in HDFC Bank Regalia ForexPlus Card.
Lounge access: With the HDFC Bank Regalia ForexPlus Card, you get 1 complimentary lounge access at international airports in India, per quarter.
Interest Charges: The HDFC Bank Regalia ForexPlus Card does not charge finance charges in the traditional sense since it is a prepaid card, not a credit card. However, other transaction charges include USD 4.00 per ATM cash withdrawal transaction, USD 0.50 per balance enquiry, daily ATM cash withdrawal limit of USD 5,000, and zero cross-currency markup.
A currency conversion tax applies on all load, reload, and refund transactions as follows: 0.18% of the gross value (or ₹45 minimum) for amounts up to ₹1 lakh, ₹180 plus 0.09% for amounts between ₹1 lakh to ₹10 lakh, and ₹990 plus 0.018% for amounts exceeding ₹10 lakh.
Kotak Solitaire Credit Card
The Kotak Solitaire Credit Card is an exclusive, invite-only premium credit card with zero forex markup charges.
Joining fee and annual fee: For Kotak Solitaire Program account holders, the card carries no joining fee and no annual fee. For non-Solitaire customers who receive an invitation, the card requires no joining fee but charges an annual renewal fee of ₹25,000 plus GST.
Reward points: Kotak Solitaire earns Air Miles instead of traditional reward points. You earn 3 Air Miles for every ₹100 spent on eligible transactions. For transactions made for flights and hotel bookings through the Kotak Unbox platform, you earn 10 Air Miles per ₹100 spent.
Reward redemption: Each Air Mile is worth ₹1 when redeemed for travel bookings on Kotak Unbox and partner platforms. For non-travel redemptions like gift vouchers and merchandise, Air Miles are worth ₹0.50 each. Air Miles earned are valid for 3 years from the date of earning.
Lounge access: You get unlimited complimentary domestic and international airport lounge access for both the primary and add-on cardholders. You also receive 4 complimentary guest lounge visits per year (2 domestic and 2 international).
Interest charge: The finance charge on the Kotak Solitaire Credit Card is 3.5% per month, which equals 42% annually. ATM cash withdrawals are charged at 1% of the advance amount with no interest or annual percentage rate charged until the payment due date.
YES Bank Uni Credit Card (nxtWave)
The YES Bank Uni Credit Card, also known as the nxtWave variant, is a RuPay-based credit card designed with zero forex charges.
Joining fee and annual fee: This card has zero joining fee and zero annual renewal fee, making it completely free to use throughout its lifetime.
Reward points: YES Bank Uni Credit Card offers unlimited 1% cashback on all eligible transactions across all spending categories—both online and offline. The card's cashback will be converted into Uni Coins that can be redeemed as cashback whenever you choose.
You can get upto 7X rewards through the Uni Store when purchasing products from partner brands.
There is no direct airport lounge access with YES Bank Uni Credit Card (nxtWave).
Interest charges: The finance charge on the YES Bank Uni Credit Card (nxtWave) is up to 3.99% per month, which equals 47.88% annually.
Niyo Global SBM Credit Card
The Niyo Global SBM Credit Card is a unique FD-backed credit card that offers zero forex mark-up charges on all your international spendings.
Joining fee and annual fee: Niyo Global SBM Credit Card comes with no joining fee and no annual renewal fee. However, the card requires a minimum Fixed Deposit (FD) of ₹5,000 with SBM Bank India to be opened, which serves as your credit limit—your credit limit equals your FD amount.
Reward points: You can earn 10% Niyo Coins (10 Niyo Coins for every ₹100 spent) on a minimum spend of ₹200 on card swipes (POS) and online transactions (Ecom). You can earn up to 150,000 Niyo Coins per month.
Reward redemption: Value of 1 Niyo Coin = 10 Paise
Lounge access: With the Niyo Global SBM Credit Card, you get 1 complimentary international lounge access per quarter when you spend ₹50,000 or more outside India on the card in that calendar quarter. Access is available at over 1,300 international airport lounges worldwide through the Lounge Pass program.
Interest charges: The finance charge on the Niyo Global SBM Credit Card is 3% per month, which equals 42.58% annually on unpaid balances.
Niyo Global DCB Credit Card
The Niyo Global DCB Credit Card is also an FD-backed zero forex credit card that comes with forex markup charges entirely.
Joining fee and annual fee: Niyo Global DCB Credit Card has no joining fee and no annual renewal fee. Like all Niyo cards, the DCB Credit Card requires a minimum Fixed Deposit (FD) of ₹5,000 with DCB Bank, which serves as your credit limit.
Reward points: With Niyo Global DCB Credit Card you can get 1% value back on international online spends, 2% value back on domestic online spends, and 3% value back on Niyo travel bookings, and Refer & Earn.
Also there’s 10% Niyo Coins on all your domestic transactions
Lounge access: With the Niyo Global DCB Credit Card, you get 1 complimentary international lounge access per quarter when you spend ₹50,000 or more outside India on the card in that calendar quarter. Access is provided at over 1,300 international airport lounges worldwide through the Lounge Pass program. The card does not offer domestic lounge access.
Interest charge: The finance charge on the Niyo Global DCB Credit Card is approximately 3% per month, which equals approximately 42.58% annually on unpaid balances.
Conclusion
Zero forex markup credit cards have made international spending affordable for everyone in India. Whether you are a student studying abroad, a business traveler, or someone who loves shopping from international websites, there is a perfect zero forex card for you.
Remember: You can save thousands of rupees every year by using the right zero forex card. Don't pay unnecessary forex markup fees when you have better options available!
