Forex Markup Calculator: What Your Card Really Costs Abroad (2026)
Most Indian credit and debit cards charge a foreign-currency markup of around 3.5% on every international transaction — and 18% GST applies on top of that markup. That makes the real cost of spending abroad higher than most people realise. Use the calculator below to see exactly what your card costs you, and how much a zero-forex card would save.
Forex Markup Calculator
See what your card really costs you on international spends — including 18% GST on the markup.
Most Indian cards charge ~3.5% plus 18% GST. Zero-forex cards charge 0%. For information only; verify your card terms.
How the forex markup really works
When you spend in a foreign currency, your bank converts it at a reference rate and then adds a markup — typically 3.5% on most cards, though some premium travel cards charge less and a handful of debit cards charge nothing. On top of the markup fee, the government levies 18% GST on the markup amount (not on your whole spend). So on ₹1,00,000 of overseas spend at 3.5%, the markup is ₹3,500 and the GST is ₹630 — a real cost of ₹4,130.
How to cut it to zero
The simplest fix is a zero-forex debit card, which removes the markup entirely. For frequent travellers, a low-markup travel credit card or a prepaid forex card can also help — each suits a different kind of spender. See our best debit cards guide for the full picture.
Frequently asked questions
What is the forex markup on Indian cards?
Most Indian credit and debit cards charge about 3.5% on international transactions, plus 18% GST on that markup. Some premium travel cards charge less, and certain debit cards charge 0%.
Is GST charged on the whole overseas spend?
No — 18% GST is charged only on the markup fee, not on your entire transaction. On ₹1,00,000 at 3.5%, GST is 18% of ₹3,500, i.e. ₹630.
How can I avoid forex markup completely?
Use a zero-forex debit card (0% markup), or a low-markup travel credit card / prepaid forex card. See our zero-forex and travel card guides.
Sources & references
Markup and GST rates reflect standard Indian card terms and applicable tax rules; confirm your specific card’s markup with your issuer. Calculator is for information only.
See also: The Real Cost of Forex Markup: what Indians overpay abroad.