By Ankur Mittal
Updated On August 28, 2023

Customers in India love Yes Bank for the products and services offered by the bank. You find everything from beginner to premium cards by the bank apart from other services. For those who are new to the world of credit cards, then an entry-level card works. However, if you are someone who visits foreign countries regularly , then you should opt for a card with low forex markup fees.

Whenever you make spends in the foreign currency, then you have to pay a markup fee for it. Fortunately, Yes Bank has a nice range of cards that offer a lower markup fee than the regular 3.5% in the market. You can save a lot of money in the long run if you regularly make spends in the foreign currency, when your credit card has a lower markup fee.

Keep reading to know more and check out the top cards with low forex markup fees.

Yes Bank Credit Cards - Forex Markup Charges

Table of Contents

What is the Forex Markup Fee?

Card networks like MasterCard or Visa charge a 1% as forex markup on international transactions whenever you swipe your credit card. The card issuer then adds extra charges that increases the total fee to 3 to 3.5%. This forex markup fee is charged in addition to the transaction amount, and you will have to pay a lot of extra money if you regularly make foreign currency spends with your credit card.

In addition to forex markup, you will be also be charged a 1% currency conversion fee by the payment processor where you swipe your card. This further increase the total amount you have to pay for international spends with your card.

You will have to pay Rs. 3000 extra if you make a Rs. 1 Lakh foreign transaction with your credit card. Thus, if you spend a lot on foreign transactions, it is recommended to go for a credit card that has a low forex markup fee. This way, you can save a lot of money in the long run.

Yes Bank Credit Cards – Forex Markup Fees

The following are the Yes Bank credit cards and the forex markup fees charged by them –

Invite Only
Yes Private Credit Card

(4.4/5)

Fees

Joining Fee

Rs. 50,000 (plus applicable taxes) for Yes Private Credit Card, Rs. 20,000 (plus applicable taxes) for Yes Private Prime Credit Card

Renewal Fee

Rs. 10,000 (plus applicable taxes) for both Private and Private Prime Credit Cards

Best Suited For

Travel

Reward Type

Reward Points

Welcome Benefits

Upon successful first transaction made using this credit card, you will get up to 25,000 Reward Points.

The Private Prime and Private credit card by Yes Bank are super-premium variants that charge Rs. 20,000 and Rs. 50,000respectively as joining fees. The renewal fee on both the cards is Rs. 10,000. If you prefer a lavish lifestyle, then the card is ideal for you as it offers multiple benefits including concierge service, complimentary golf rounds, insurance, lounge access, and more. Also, you can earn up to 25,000 reward points as a welcome benefit. The forex markup fee on the card is 1.75% of the transaction amount.

  • 25,000 reward points as welcome benefit on the first transaction
  • 10,000 reward points as milestone benefit
  • 24 RPs per Rs. 200 on international and 12 RPs per Rs. 200 on domestic spends
  • Low interest rate of 1.2% for Yes Bank
  • Unlimited domestic lounge access with Mastercard Lounge program and unlimited international lounge access with Lounge Key membership
  • 12 complimentary golf rounds per year, maximum 3 per quarter
  • Complimentary medical and wellness benefits
  • Forex markup fee of 1.75% of the transaction amount
YES First Preferred Credit Card

(4.3/5)

Fees

Joining Fee

Rs. 999 (plus applicable taxes)

Renewal Fee

Rs. 999 (plus applicable taxes)

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

N/A

Another premium offering by Yes Bank, the First Preferred credit card charges a joining fee of Rs. 999 plus taxes and offers exciting benefits and rewards for the cardholder. You can earn up to 10,000 reward points within 90 days of card issuance. The card offers up to 8 RPs on retail spends and 4 RPs on utilities, groceries, tax, etc. Additionally, you get complimentary lounge access, discount on BookMyShow movie tickets, insurance benefits, and more. The foreign currency markup on the card is 1.75% of the transaction amount.

  • 4 RPs per Rs. 200 spent on tax, insurance, groceries, utilities, etc.
  • 8 RPs per Rs. 200 spent on retail
  • 2 Complimentary domestic lounge access and 4 international lounge access
  • Renewal fee waiver on spending Rs. 4 Lakhs in the year
  • Forex markup fee of 1.75% of the transaction amount
Yes Bank First Exclusive Credit Card

(4.5/5)

Fees

Joining Fee

Rs. 1999 + taxes

Renewal Fee

Rs. 1999 + taxes

Best Suited For

Travel

Reward Type

Reward Points

Welcome Benefits

N/A

Available at a joining fee of Rs. 999 plus taxes, the First Exclusive credit card is a premium card by Yes Bank. The card is packed with elite-level privileges like complimentary domestic as well as international lounge access, Priority Pass membership, complimentary golf rounds, discount on movie tickets, concierge service, etc. Another great feature of the card is the low forex markup fee of 1.75% of the total transaction amount.

  • 24 RPs per Rs. 200 spent on dining and travel, 12 RPs per Rs. 200 spent on transactions not in the Select category
  • 6 RPs per Rs. 200 spent on the Select category
  • Bonus 1000 RPs on Yes PayNow registration
  • 3 complimentary domestic lounge and 6 international lounge access with Priority Pass
  • Low foreign currency markup fee of 1.75% of the transaction amount
Yes Bank Rupay Credit Card

(4.4/5)

Fees

Joining Fee

Nil

Renewal Fee

Nil

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

NA

RBI has announced the linking of RuPay credit cards to UPI applications, and Yes Bank has launced the new RuPay credit card that is lifetime free for the customers. It is a complimentary card that is offered when you apply for another credit card and is available only in the virtual version. You get accelerated reward points on UPI spends with the card and 1% fuel surcharge waiver. There are not many other benefits on this basic credit card but you do get access to a low forex markup fee of 2.75%. The card offers you the convenience of UPI payments and the benefits of credit cards.

  • Lifetime free card without any renewal or joining fee
  • Virtual-only card without a physical variant
  • 8 RPs per Rs. 200 spent on UPI transactions above Rs. 2000
  • 2 RPs per Rs. 200 spent elsewhere
  • Low forex markup fee of 2.75% of the amount
YES Prosperity Edge Credit Card

(3.6/5)

Fees

Joining Fee

Rs. 399 (plus applicable taxes)

Renewal Fee

Rs. 399 (plus applicable taxes)

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

N/A

As the name of the card suggests, the Yes Prosperity Edge credit card aims to offer exclusive rewards and benefits to the customers so they can live a prosperous and happy life. The card has various privileges over different spend categories but it is best suited for those individuals who prefer getting reward points for their credit card spends. Even though the card has a low joining fee of Rs. 399, it has many great features reward points, spend-based waivers, complimentary travel benefits, fuel perks, and much more. The forex markup fee on the card is 2.75% of the transaction amount.

  • Bonus 15000 reward points on spends of Rs. 6 Lakhs or more in the previous year
  • 4 reward points per Rs. 200 spent on retail purchases
  • 2 reward points per Rs. 200 spent on other spends like groceries, tax payments, etc.
  • Joining fee waiver on spending Rs. 15000 within 90 days of card issuance
  • Renewal fee waiver on spending Rs. 75,000 or more in the previous year
  • Low 2.75% forex markup fee
YES Prosperity Rewards plus Credit Card

(3.7/5)

Fees

Joining Fee

Rs. 399 (plus applicable taxes)

Renewal Fee

Rs. 399 (plus applicable taxes)

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

N/A

The Yes Prosperity Rewards Plus credit card is the superior variant of the Yes Prosperity Rewards card. The exclusive offers and benefits on the card aims at improving the lifestyle of cardholders and rewarding them for their spends. The card has a nominal Rs. 399 joining fee yet it has many things to offer to customers. You can get 4 reward points per Rs. 200 spent on retail and 2 reward points per Rs. 200 spent on utilities and tax payments. On making purchases through the Yes Cart, you get accelerated reward points that can be redeemed against dining, travel, etc. at the YesRewardz portal. The forex markup fee on the card is 3.5% of the transaction amount.

  • 4 reward points per Rs. 200 spent on retail
  • 2 reward points per Rs. 200 spent on tax payments, utilities, bus lines, etc.
  • 500 reward points on registering for YES PayNow
  • Accelerated reward points on select purchases made via the Yes Cart.
  • Spend-based joining and annual fee waiver
  • Forex markup fee of 3.5% of the transaction amount
Yes Bank Prosperity reward credit card

(3.8/5)

Fees

Joining Fee

Rs 299 plus applicable taxes

Renewal Fee

Rs 299 plus applicable taxes

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

NA

The Yes Prosperity Rewards credit card is a basic card that has a joining fee of Rs. 399 plus taxes and reward you for almost every single spend made by you with the card. Apart from the nominal annual fee, you also get up to 2 reward points per Rs. 200 spent with the card on all categories while on some select categories, you get 1 reward points for every Rs. 200 you spend using the card. There are not any travel, lounge access, or golf benefits with the card as it is a beginner credit card. The forex markup fee on the card is 3.5% of the transaction amount.

  • 2 reward points per Rs. 200 spent on all categories
  • 1 reward points per Rs. 200 spent on select categories
  • 10 reward points = 1 AirMile (1 Club Vistara point or 1 InterMile)
  • 1% fuel surcharge waiver on fuel spends across the country
  • Annual fee waiver on spending Rs. 25,000 with the card in the year
  • Forex markup fee of 3.5% of the transaction amount
YES Prosperity Cashback Plus Credit Card

(3.9/5)

Fees

Joining Fee

Rs. 1,499 (plus applicable taxes)

Renewal Fee

Rs. 1,499 (plus applicable taxes)

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

A cashback of Rs. 250 on spending Rs. 2500 within the first 30 days.

As you can tell by the card’s name, the Prosperity Cashback Plus credit card offers cashback to clients for almost all their spends. Available at a joining fee of Rs. 1499, you earn 0.75% cashback on all retail spends, and up to 5% on movie tickets and grocery spends. You can also get Rs. 250 cashback on a minimum spend of Rs. 250 within one month of card issuance. There are not many travel and other benefits offered by the card, but the cashback rate is good, and the forex markup fee charged is 3.5% of the transaction amount.

  • Rs. 250 cashback as welcome benefit on a minimum transaction of Rs. 2500 within 1 month of card issuance
  • 0.75% cashback on retail spends
  • 5% cashback on movie ticket and grocery spends
  • 5% cashback on utility bill payments made through YES PayNow
  • Forex markup fee of 3.5% of the transaction amount
YES Bank BYOC Credit Card

(4.5/5)

Fees

Joining Fee

Rs. 49 plus applicable taxes
Rs. 3,499 (for metal variant)
Rs. 249 (for eco-friendly variant)

Renewal Fee

Rs. 49 per month.

Best Suited For

Shopping

Reward Type

Reward Points

Welcome Benefits

NA

The BYOC is a customizable credit card by Yes Bank that stands for Build Your Own Card. You have to pay a monthly membership fee of Rs. 49 and can get an eco-friendly or a metal variant as well. Based on your spending habits and needs, you can customize your card and choose the rewards plan as per your needs. Other than the rewards, you can also choose from a host of privileges that include golf, travel, etc. The forex markup fee on the card is 3.5% of the transaction amount. The forex markup fee on the card is 3.5% of the transaction amount.

  • Fully customizable credit card where you can choose your rewards plan
  • Get 8 RPs per Rs. 200 spent or 1% cashback
  • Complimentary domestic lounge access
  • Complimentary golf rounds per month
  • 1% fuel surcharge waiver
  • Forex markup fee of 3.5% of the transaction amount

Eligibility Criteria and Documents Required

Applicants must meet the following eligibility requirements to apply for Yes Bank credit cards –

  • The applicant must be 21 to 60 years of age
  • The applicant must be a citizen of India
  • The applicant must be salaried or self-employed with a stable income
  • The applicant must have a decent credit score

Also, the candidate must provide the following documents when applying for Yes Bank credit cards –

ID Proof – Aadhar Card, PAN Card, Driver’s License, Passport, etc.

Address Proof – Aadhar Card, Rent Agreement, Ration Card, Passport, Latest Utility Bills, etc.

Income Proof – Salaried individuals need to provide the latest 2 months’ salary slips and the bank statements. Self-employed individuals need to provide their audited ITR of the previous year.

How to Apply for Yes Bank Credit Cards

It is possible to apply for Yes Bank credit cards both online and offline. Follow these steps to apply for Yes Bank credit cards –

  • Visit the official Yes Bank website
  • Click on the Apply Credit Card Digitally option
  • Choose the credit card that you want to apply for
  • Enter all the necessary details and provide the required documents
  • Proceed further and the application will be submitted successfully

Credit Card Comparison

The following table features a comparison of the credit cards –

Category Yes Private Credit Card Yes First Preferred Credit Card Yes First Exclusive Credit Card Yes Bank RuPay Credit Card
Joining/Annual Fees Rs. 50,000 for Yes Private and Rs. 20,000 for Yes Private Prime Rs. 999 plus taxes Rs. 999 plus taxes Nil
Welcome Benefit Bonus 25,000 reward points on the first transaction NA NA NA
Reward Earning 24 RPs per Rs. 200 spent on international spends 16 RPs per Rs. 200 spent on domestic spends 16 RPs per Rs. 200 spent 6 RPs per Rs. 200 on Selected category 12 RPs per Rs. 200 on other transactions   8 RPs per Rs. 200 spent on UPI transactions above Rs. 2000 2 RPs per Rs. 200 on online spends
Reward Redemption Reward points can be redeemed against a host of choices at the YesRewardz portal 1 RP = Rs. 0.25 against flight/hotel bookings 1 RP = Rs. 0.10 against product catalog, gift vouchers, etc. RPs can be redeemed against Yes Rewardz portal against movie/hotel/flight tickets, or converted to Airmiles RPs can be redeemed against a host of different options at the Yes Rewardz portal
Dining/Movie Benefits BOGO offer on BookMyShow movie tickets, up to 4 free tickets per month 25% discount on BookMyShow movie ticket bookings 25% discount on BookMyShow movie tickets Exclusive dining offers Yes Privilege portal NA
Travel Benefits Complimentary domestic as well as international lounge access 4 complimentary international lounge and 2 complimentary domestic lounge access per quarter 3 complimentary domestic lounge access 6 complimentary international lounge access with Priority Pass NA
Spend-Based Waiver Renewal fee waiver on spending Rs. 25 Lakhs in the year Renewal fee waiver on spending Rs. 4 Lakhs in the year Renewal fee waiver on spending Rs. 4 Lakhs in the year NA
Forex Markup Fee 1.75% of the transaction amount 1.75% of the transaction amount 1.75% of the transaction amount 2.75% of the transaction amount

Bottom Line

Yes Bank has always been a popular card issuer in the country, and for people who regularly visit foreign countries or make foreign currency spends with their cards, the bank has various cards with low forex markup fees. The standard market rate is 3.5% of the transaction amount, and Yes Bank has multiple cards with 1.75 to 2.75% markup fees.

The Yes Private credit card is the most premium offering by the bank and it has a forex markup fee of 1.75%. Apart from this, you can get the First Preferred or First Exclusive cards which also charge 1.75%, or the RuPay credit card that charges 2.75% of the transaction amount as forex markup fees.

Let us know if you plan on getting any of the above cards by Yes Bank in the comments section.

FAQs:

The Yes Bank Private, Yes Bank First Preferred, and the Yes Bank First Exclusive credit card charge a forex markup fee of 1.75% of the transaction amount.

The Yes Bank Prosperity Edge and the Yes Bank RuPay credit card have a forex markup fee of 2.75% of the transaction amount. This is lower than the standard market rate of 3.5%.

The Yes Bank BYOC credit card is a customizable offering by the bank where you can choose the card type as well as the features and benefits offered by the card. The forex markup fee on the BYOC credit card is the standard 3.5% of the transaction amount.

It is possible to apply for Yes Bank credit cards both online and offline. Follow these steps to apply for Yes Bank credit cards –

  • Visit the official Yes Bank website
  • Click on the Apply Credit Card Digitally option
  • Choose the credit card that you want to apply for
  • Enter all the necessary details and provide the required documents
  • Proceed further and the application will be submitted successfully

 

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