NiyoX Review | Account Open, Interest Rate. Charges, Customer Care

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    NiyoX

    What is NiyoX?

    NiyoX FEATURES

    NiyoX is a product brought about by Indian neo-banking pioneer Niyo in organization with Equitas Small Finance Bank, designed to decode banking. It removes the confusion of the banking you know today and makes overseeing finances less difficult, more secure, and smarter. NiyoX’s quick and light neo banking app has been constructed explicitly to serve the requirements of recent college grads.

    NiyoX is the first of its sort product in Quite a while that offers a 2-in-1 savings and wealth management arrangement, providing you both dependability and support to accomplish your savings objectives. You at this point don’t need to keep two separate apps to deal with every one of your finances. The integrated app likewise kills the need to go through the process of KYC separately for your mutual asset investments account. Getting KYC done is usually an awkward process, yet with NiyoX one e-KYC fruition applies to both your savings and wealth accounts – that’s all there is to it.

    Documents Required to Create a NiyoX Account?

    To create your zero balance account with NiyoX, you will just need your:

    • PAN

    • Aadhaar

    These documents will assist them with getting their own data and verify it for your KYC. This is likewise a prerequisite from the accomplice bank for opening an advanced account.

    We will send you an OTP during the onboarding process for your web-based savings account opening. The OTP is shipped off your mobile number registered with your Aadhaar, so ensure you are not using the NiyoX app from an alternate number, or have the number registered with your Aadhaar helpful.

    NiyoX Bank Account Charges?

    With NiyoX, they mean to decode banking for recent college grads with the ‘007’ bundle:

    • 0% commission on mutual asset investments

    • 0 account maintenance charges, which means a zero balance savings account

    • Upto 7%* interest on account balances

    How to Create a NiyoX Bank Account?

    Opening a bank account with NiyoX is fast and simple. You should simply:

    1. Download the NiyoX app from App Store or Google Play Store

    2. Register with your mobile number and email address

    3. Verify your personality by providing documentation and finishing your virtual KYC

    4. Enter your own data

    The onboarding process once you download the app is really obvious and easy to follow. It will assist you with opening your NiyoX account and get begun your neo banking venture in a matter of seconds. Just follow the steps and keep your PAN and Aadhaar helpful to begin using your zero balance savings account.

    NiyoX Bank Account Interest Rate

    Who doesn’t care for their money exceeding all expectations? As a NiyoX user, your savings account balance above ₹1 lakh procures an industry-best 7% interest p.a. To be more explicit:

    • Savings account balance of up to ₹1 lakh procures an interest of 3.5% p.a.

    • Any steady sum above ₹1 lakh yields an interest of 7% p.a.

    This yields delicate however steady development to your savings. For instance, for a savings account balance of ₹1,10,000, you will acquire 3.5% on ₹1 lakh and 7% on the excess ₹10,000. In addition, NiyoX accompanies a promise of ₹0 account maintenance charge, which means there’s no charge for not keeping an AMB (normal month-to-month balance) of ₹10,000.

    NiyoX Debit Card Charges

    You likewise get a computerized debit card and the option to arrange a customizable Platinum Visa Debit Card. You should simply download the NiyoX app to get begun your excursion of neo-banking!

    The Platinum Debit Card comes at an annual fee of ₹150 + GST. The current promotional offer is live till 31st March 2022, postpones your first year’s annual fee. So hustle, finish your biometric and get your card now!

    NiyoX Customer Details Number and Email Id

    For Niyo/Global:

    1860 258 6496

    For Bharat:

    1800 258 3009

    For SME:

    1800 258 3010

    NiyoX Registered Address

    Bengaluru, IN (HQ)

    Ground Floor Alpha Block, Sigma Technology Park

    NiyoX Founders

    Vinay Bagri (Co-Founder and CEO) – Vinay has gone through 18 years in the corporate world working with assorted associations like Parle, 3M, ICICI Bank, Standard Chartered, ING, and Kotak Mahindra Bank. Of Niyo’s qualities, customer focus stands apart to him. “We are absolutely paranoid about ensuring value to the user and experience to the user.”

    Virender Bisht (Founder and CTO) – Virender is a prepared technology professional with 16 years of involvement with making a-list software products. In the wake of seeing both the positive and testing parts of corporate culture, Viren sees Niyo’s core esteems as a way to keep the association grounded. “They reflect what an ideal organization should look like.”

    NiyoX App Details (iOS and Android)

    You can download the NiyoX app for android here

    You can download the NiyoX app for iOS here

    NiyoX Referral Code and Cash Rewards

    The Referral Program assists you with welcoming your companions to NiyoX and procure up to Rs 125 each. Your companion needs to open Niyo Equitas Account using your Referral Code and make a Transaction > Rs 999. The Reward will be generated as scratch cards for yourself as well as your companion. You can procure up to 5 scratch cards for referring your companions.

    Step by step instructions to use Niyox App Referral Code to Earn Cashback:

    1. Install >> Open the App

    2. Register with New Account >> Use my Niyox Referral Code

    3. After Apply And Successfully Create Bank Account

    4. You will Get Free Rs 125 Cash Rewards

    5. You Need Aadhar Card, Pan Card for Making Niyox Bank Account

    6. That’s it Enjoy.

    Instructions to create your own Niyo Referral Code and Earn Unlimited Cash Reward:

    • Open Niyox App

    • Login into the App

    • Go to Menu >> Tap on Reward

    • You will Get own Niyox Referral Code

    • Share this Code with Friends When your Friend Make Account

    • You will Get Free Cash Reward

    NiyoX Reward Points

    While you develop your wealth with NiyoX, you can likewise procure Equinox Reward Points for store moves and all POS and internet business buys made using your debit card. These Equinox Points can be subsequently recovered for exclusive products.

    With consistently advanced account opening, frictionless asset moves and payments on the web and offline, effectively accessible customer support, reward points programs, and a protected, secure, and customized wealth management platform, NiyoX brings in your money development alongside you.

    Final Review of NiyoX

    Niyo offers some promising computerized banking benefits, it proves to be really disappointing on the customer support front. A few customers have complained of a sluggish and deferred customer administration reaction. Not many of them have additionally complained of their registered number getting impeded by the customer care support without any communication, even after the exchange of assets to their Niyo worldwide forex card. Some others feel that if the worth of INR falls against USD by about Rs.2 or more, NiyoX forex card can wind up being more costly than a customary forex card.

    NiyoX account provides access to a full wealth management suite other than the savings account. The comprehensive wealth management suite fueled by Niyo Money offers zero commission mutual assets, an office to follow every one of your investments at one spot, a Robo advisory, and an element that investigates your investment, savings, and costs. Niyo will before long dispatch homegrown and worldwide stocks on the platform.

    FAQs

    1. What type of account is this?

    This is a 2 of every 1 Account. The Savings Bank Account is in organization with Equitas Small Finance Bank and the Zero Commission Mutual Fund platform is fueled by Niyo Money. Niyo Equitas Savings Bank account is a “ZERO” balance account i.e., there is no prerequisite of keeping a predefined month-to-month balance.

    2. Who all can apply for a NiyoX account?

    All occupant Indians over the age of 18 years can sign up for a Niyo X Account.

    3. How secure is NiyoX Digital Savings account?

    This Savings account is provided by Equitas Small Finance Bank and keeps all administrative rules given by the Reserve Bank of India. Your money is protected up to Rs 5 lakh covered under ‘Deposit Insurance and Credit Guarantee Corporation’, a completely claimed auxiliary of the Reserve Bank of India. This is to provide the proportion of protection to depositors.

    4. What are the documents expected to complete KYC?

    They will require your PAN and Aadhaar numbers, an OTP (shipped off your Aadhaar-registered telephone number), and some close-to-home data.

    5. What number of nominees would I be able to add to my NiyoX savings account?

    You can add one nominee.

    6. What is “Invest the Change”?

    It is a component in the NiyoX app that helps individuals who need to assemble a propensity to routinely save and invest in mutual funds with small sums.

    7. How does “Invest the Change” work?

    “Invest the Change” permits you to gather together the entirety of your spending (food request, taxi tolls, OTT subscriptions, and so on) made with your NiyoX account to the next 10, 50, or 100 rupees and save the loose coinage. Your exchanges made face to face at the stores, online buys, UPI, and fund transfers – fundamentally, all debits in your savings account (aside from mutual fund investments) count as spends. The loose coinage that gets created with every one of these exchanges, continues to aggregate. The second the aggregated change arrives at the INR 100 limit, it consequently gets invested in a mutual fund of your decision.

    8. Benefits of having NiyoX Savings account

    With NiyoX, we expect to decode banking for recent college grads with the ‘007’ bundle of zero commission mutual funds, zero balance savings account, and 7%* p.a. interest rate. The NiyoX app is natural and easy to use, with the promise of simplifying banking, protected and smart for every one of our customers.

    NiyoX offers you a variety of invigorating provisions that make it the best bank account for your savings:

    • Instant savings account opening to deal with your wealth and savings without any problem

    • Ability to follow every one of your investments in a single spot with its comprehensive wealth management suite fueled by Niyo Money

    • Rounding up costs and investing the change to assist you with wealth management

    • Customizable Platinum Visa Debit Card

    • Chance to acquire Equinox reward points with every exchange you make

    • Wave include where waving your hand over the account balance of your computerized savings account to conceals it from meddlesome eyes

    9. Provisions of NiyoX Savings account

    NiyoX, a cutting-edge neo banking answer for recent college grads, in organization with Equitas Small Finance Bank and Visa, offers a 2-in-1 account that gives you access to a wealth management suite on top of a savings account. With NiyoX, we expect to decode banking for twenty to thirty-year-olds with the ‘007’ bundle:

    • 0% commission on mutual fund investments

    • 0 account maintenance charges, which means a zero balance savings account

    • Upto 7%* interest on account balances

    In association with Equitas Small Finance Bank, NiyoX offers you more than its 007 bundles:

    • Instant savings account opening to deal with your wealth and savings without any problem

    • Ability to follow every one of your investments in a single spot with its comprehensive wealth management suite fueled by Niyo Money

    • Rounding up costs and investing the change to assist you with wealth management

    • Customizable Platinum VISA Debit Card

    • Chance to acquire Equinox reward points with every exchange you make

    • Wave include where waving your hand over the account balance of your computerized savings account to conceals it from intrusive eyes

    Notwithstanding these appealing components, we likewise focus on customer feedback to make the app experience as wonderful as could really be expected. Our customers are consistently at the core of our choices, and through NiyoX we routinely offer cashbacks and run rewards missions to ensure that this is the best bank account for savings that you can have.

    10. What is NiyoX Equitas Digital Savings account?

    NiyoX Equitas Digital Savings account is one of the most mind-blowing bank accounts for your savings. This internet-based savings account with Equitas Small Finance Bank is great for individuals new to neo banking with its moment savings account opening and improved and straightforward process. NiyoX is accessible on the Play Store and App Store, and through this, we need to demystify banking and simplify it, safe, and smart for the advanced banker. You can open your NiyoX Equitas Digital Savings account in just a couple of moments without holding up in lines or visit your neighborhood bank.

    To place things in context, the following are a couple of signs of this account:

    • Zero balance savings account

    • Highest interest rate savings account with a 7% interest*

    • 2-in-1 offering of a savings bank account with wealth management too

    • Frequent rewards and offers

    • Customizable Platinum Visa Debit Card

    The industry-wellbeing rate that you get brings in your money to accomplish the work for you. With each ECom/POS/UPI exchange, you get the opportunity to acquire rewards. You additionally get an advanced debit card and the option to arrange a customizable Platinum Visa Debit Card, because we realize you like to display your style and stand out from the group. You should simply download the NiyoX app to get begun your excursion of neo-banking!

    Also Read: FI Money 

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