Infinia for NRI

[birususama]

Can anybody let me know whether HDFC bank issues credit card for NRIs without FD? Or with FD is the only option. The specific card I am looking for is Infinia.

 

[vinrey287]

bhai jab pata ni hai to ku bol rahe ho

Please refer to t&c, try applying any card before submitting and look for a point states, please confirm if that you are Indian resident.

Check eligibility

https://www.hdfcbank.com/personal/pay/cards/credit-cards/diners-club-black/eligibility

it does apply for paytm account as well, your pan card

try sending email to hdfc customer care that you have now nri status, and all your existing cards will be cancelled without any further question.

as a nri, you need to file itr so your income tax department know that your pan will be use for nri.

but their are banks that issue creditcards for NRI, how does that work out in ITR. like Axis, Yes Bank and others are issue it as per other threads

FYI. I am just asking for knowledge.

 

[ThriftyPlasticPundit]

but their are banks that issue creditcards for NRI, how does that work out in ITR. like Axis, Yes Bank and others are issue it as per other threads

FYI. I am just asking for knowledge.

Yes you can apply for cards as a nri but your current exiting cards issued based on Indian resident so will need to first close then open nro account then apply for credit card. i think they are only selected cards. i don't know about infinia.

we have an obligation to inform bank our resident status but this is completely voluntary.

i am 100% sure most online application are for Indian resident coz all kyc are only for Indian region if use vpn, it will be cancelled.

 

[InquisitiveWhiz]

but their are banks that issue creditcards for NRI, how does that work out in ITR. like Axis, Yes Bank and others are issue it as per other threads

FYI. I am just asking for knowledge.

There are basically 2 ways of getting CC for NRI :
1. Open a High TRV NRE/NRO account with the bank and get CC which are eligible for NRI (Axis, Yes Bank , ICICI )
2. Have a normal NRE/NRO account with bank and get CC based on FD which eligible for NRI (HDFC , Kotak)

Having NRE/NRO account is almost compulsory as most of the cases CC bill payments are set as auto debit.
After becoming NRE, one has to change all his normal banking accounts to NRE/NRO & forgo all CC obtained as indian residents.

 

[gowmara]

There are basically 2 ways of getting CC for NRI :
1. Open a High TRV NRE/NRO account with the bank and get CC which are eligible for NRI (Axis, Yes Bank , ICICI )
2. Have a normal NRE/NRO account with bank and get CC based on FD which eligible for NRI (HDFC , Kotak)

Having NRE/NRO account is almost compulsory as most of the cases CC bill payments are set as auto debit.
After becoming NRE, one has to change all his normal banking accounts to NRE/NRO & forgo all CC obtained as indian residents.

NRI cannot apply for normal cc but does anywhere its mentioned like existing cc need to be closed if person changes his status to NRI. I don't think so.

 

[ThriftyPlasticPundit]

NRI cannot apply for normal cc but does anywhere its mentioned like existing cc need to be closed if person changes his status to NRI. I don't think so.

What do you understand by below

- must be Indian resident

 

[smz]

Yes you can apply for cards as a nri but your current exiting cards issued based on Indian resident so will need to first close then open nro account then apply for credit card. i think they are only selected cards. i don't know about infinia.

we have an obligation to inform bank our resident status but this is completely voluntary.

i am 100% sure most online application are for Indian resident coz all kyc are only for Indian region if use vpn, it will be cancelled.

"we have an obligation to inform bank our resident status but this is completely voluntary."
What are the effects of not converting RI account to NRI/NRE for someone filing ITR ? and is it really "completely voluntary" ?

 

[ThriftyPlasticPundit]

"we have an obligation to inform bank our resident status but this is completely voluntary."
What are the effects of not converting RI account to NRI/NRE for someone filing ITR ? and is it really "completely voluntary" ?

"Continuing to hold your resident savings account after gaining NRI status is considered illegal under the Foreign Exchange Management Act (FEMA) guidelines and doing so may attract hefty penalties. Under the Act, any individual who fails to adhere to the guidelines is liable to pay a penalty of up to 3 times the amount involved in the existing resident savings account or Rs 2 lakh when the sum is not quantifiable. Additionally, a penalty of Rs 5,000 is to be charged every day from the first day of intervention until the penalty is paid"

Facts about converting savings account into NRE account - Switching account type

According to the DBS Bank website, “Continuing to hold your resident savings account after gaining NRI status is considered illegal under the Foreign Exchange Management Act (FEMA) guidelines and doing so may attract hefty penalties. Under the Act, any individual who fails to adhere to the...

economictimes.indiatimes.com

https://www.hdfcbank.com/personal/resources/learning-centre/save/fema-regulations-for-nri

 

[Lorddiesel]

Can anybody let me know whether HDFC bank issues credit card for NRIs without FD? Or with FD is the only option. The specific card I am looking for is Infinia.

Yes they issue against FD of min 11 lakhs. FD has to be from NRE Acc
Limit will be 80 % of FD