Travelling tips for NRIs to save money

The festive season always feels special. Streets glow with lights, families start tossing around plans, and there’s that little spark of excitement that says the holidays are just around the corner. It’s the perfect time for people to take a break from their routines and celebrate with loved ones.

During this season, Non-Resident Indians (NRIs) also travel to spend some quality time with their family and relax. The homecoming season allows them to connect with their relatives, friends, and also their roots.

While a visit to India is sure to be memorable, the travel costs can be quite significant. Flights, gifts, traveling within the country, and all those little extras can make the trip pretty heavy on the wallet. As such, NRIs travelling to India look for ways to enjoy the trip without burning a hole in their pockets. If you are also looking for ways to reduce costs, check out some travelling tips that can come in handy.

Effective travelling tips to save money 
 

Heading home to India this festive season? Here is how to make memories without emptying your wallet.

• Plan ahead 

Ever heard the saying ‘the early bird gets the worm’?

The same applies to travel planning too. During the holiday season, airfares and the cost of hotel accommodations skyrocket. That is why it is recommended to plan your trip well in advance, i.e., 1-2 months before you travel. This would help you book your tickets and accommodation at reasonable rates, and you can save on the last-minute inflated rates.

Pro tip - Keep your travel dates flexible and keep checking the airfares regularly. Choose a date when the airfares are the cheapest.  

• Create a travel fund 

When you plan your visit in advance, you can save for it rather than dipping into your savings at the last moment. Start setting aside a part of your income towards a travel fund in the months leading up to the travel date. This will help you create a corpus so that you don’t dent your savings and the trip doesn’t pinch your pocket at once.

Pro tip - Invest your travel fund in liquid avenues so that you can redeem it instantly when you undertake the trip. A savings account with attractive interest rates is a good choice and so is a liquid mutual fund.

• Hunt for deals and discounts

With increased competition in the tourism industry, airlines, hotels, and even travel aggregators offer attractive booking discounts. Plus, you can use the offers available on your credit card to save on every booking. So, keep looking for the best available deals and discounts on travel bookings and also on sightseeing activities. These deals would effectively save money and help you enjoy an affordable trip.

Pro tip - Compare airfares and hotel rates for accommodation across different travel aggregators in advance. Also, review the discounts each platform offers to pick the most affordable option.

• Choose budget travel in India

If you are looking to cut costs, it could be wise not to pick premium pre-fixed tours of India which incur considerable expenses. Look for budget-friendly trips in India that offer enjoyable experiences without burning a hole in your pocket.

Pro tip - While budget travel can save money, make sure that you don’t compromise on comfort and quality. Uncomfortable stays or time-consuming journeys would defeat the whole purpose of enjoying the trip.

• Choose a suitable bank account in India

When visiting India, you need an Indian bank account to conduct seamless financial transactions. So, choose an account that allows deposits in foreign currency and withdrawals in Indian Rupee (INR) so that you can make quick payments. Be sure to check the exchange rates offered by the bank and go for the account that provides the most cost-effective currency conversion.

Pro tip – It is wise to choose an NRI savings account based on its interest rate and taxability too. An NRE savings account offering high-interest rates would be a viable choice as it would allow easy banking services without any tax liability in India.

IDFC FIRST Bank’s NRI banking solutions – A cost-saving travel partner 
 

As mentioned in the aforementioned points, a savings account not only helps you save for the travel fund, but it can also make financial transactions in India seamless. IDFC FIRST Bank NRI savings accounts do just that!

When you open an IDFC FIRST Bank NRE savings account online, you can do the following:

• Deposit your foreign income and make seamless withdrawals in INR.
• Enjoy tax-exempt interest rates on the deposited balance.  
• Get interest credits every month.
• Transfer funds anytime, anywhere, without any fee.
• Fully repatriate the funds without any limits on an NRE savings account
• Get a feature-rich VISA Signature international debit card with the NRE savings account enjoy cost-free ATM withdrawals (an unlimited number of times in India), airport lounge access, insurance covers, and more. 

IDFC FIRST Bank also offers attractive exchange rates to help you save on currency conversion while on a tour of India. Zero charges on many commonly used savings account services enhance your experience even more. 

What more can you ask for?

Conclusion
 

Holidays are meant for joy, not financial stress. With a little planning and smart choices, your trip to India can be full of memories, not worrying about the expenses. Think ahead, save where you can, and make use of the right tools to keep costs under control. After all, visiting your hometown is about reconnecting with family, reliving traditions, and enjoying the festive spirit.

When you have IDFC FIRST Bank’s NRI banking solutions, travelling becomes fun and cost-effective. You get seamless transactions and cost-effective currency exchange, so your focus stays on what truly matters. Plan, travel, save and repeat, while keeping your holidays pocket-friendly.

Apply today!