NiyoX App Review 2022 | Account Open, Interest Rate, Charges, Customer Care. What is NiyoX App?, Features, Benefits, Documents Required to Create a NiyoX Bank Account?, NiyoX App Bank Account Charges?
NiyoX is a decoding banking made in collaboration with Equitas Small Finance Bank. This reduces today’s banking’s uncertainty that makes financial management easier, safer, and more intelligent. NiyoX’s light but fast neo banking app was created exclusively for recent college grads.
NiyoX App is the first and only product of its kind in a long time to provide a two-in-one savings plus wealth management solution, providing you with both dependability and assistance to achieve your savings goals. You don’t need to use two different apps to keep track of your finances any longer. Furthermore, the integrated app eliminates the need to complete the KYC process separately for each of your mutual asset investing accounts. Normally, finishing KYC takes time, but with NiyoX, one e-KYC outcome covers both your savings and wealth accounts.
What is NiyoX App?
One of the greatest bank accounts for your money is NiyoX Equitas Digital Savings. This online savings account with Equitas Small Finance Bank is ideal for people who are new to digital banking because of its quick account setup or efficient plus straightforward approach. NiyoX is accessible on the Play Store and App Store, and the goal is to simplify banking for the modern banker by making it simple, safe, plus smart. Without having to queue or visit a bank, you may open a NiyoX Equitas Digital Savings account in only a few moments.
Features of NiyoX App
NiyoX, a cutting-edge neo banking solution for youngsters, has partnered with Equitas Small Finance Bank plus Visa to offer a 2-in-1 account that includes a wealth management suite and also a savings account. Through NiyoX’s ‘007’ bundle, they hope to decode banking for millennials:
- On mutual fund investments, there is no commission.
- There are no account maintenance fees, so it’s like having a savings account with no balance.
- On account balances, you can earn up to 7%* interest.
Benefits of NiyoX App
The ‘007’ package from NiyoX includes zero commission mutual funds, a zero balance savings account, and a 7 percent* annual return. The interest rate is designed to help millennials understand banking. Because the NiyoX app is simple to use and efficient, it promises to make banking simple, secure, and smart for everybody.
NiyoX App has a lot of useful features that make it an excellent savings account:
- Open an immediate savings account to manage your wealth or assets fast.
- You could keep records of all your investments in one place with its complete wealth management suite offered by Niyo Money.
- To help you manage your finances, round up your spending but also invest the difference.
- Platinum Visa Debit Card with Customizability
- You can earn Equinox reward points with every transaction you make.
- By waving your palm over the account balance of your digital savings account, users can hide it from prying eyes well with Wave function.
Documents Required to Create a NiyoX Account?
You would simply need your Aadhaar card and Pan card: to open your NiyoX zero balance savings bank account.
These documents may assist you in retrieving and verifying your personal information for your KYC. It is also a prerequisite for opening a digital account with the partner bank.
You will get an OTP by email during the onboarding process for your online savings account. Because the OTP is delivered to the phone number associated with your Aadhaar, make sure you’re not using the NiyoX app from a different phone number or that you have the phone number associated with your Aadhaar accessible.
NiyoX is here to make banking easy, secure, and intelligent for you. Don’t delay, establish your NiyoX fast savings account today to take advantage of great deals and a 2-in-1 wealth and savings account.
NiyoX App Bank Account Charges?
With the ‘007’ bundle, NiyoX aims to decode banking for fresh college graduates:
• Mutual asset investments are free of charges.
• No account maintenance fees, implying a savings account with no balance.
• Interest rates of up to 7%* on account balances.
NiyoX App Debit Card Charges
You’ll also get a computerized debit card and the opportunity to design your own Platinum Visa Debit Card. To get started with neo-banking, easily download the NiyoX app.
The yearly charge for the Platinum Debit Card is ₹150 + GST. So go ahead and finish your biometrics so you may get your card straight away.
How to Create a NiyoX Bank Account?
NiyoX makes opening a bank account simple but also quick.
- NiyoX is a free app available on both the App Store and also the Google Play Store.
- Provide your phone number and email address.
- To authenticate your identity, complete your virtual KYC and supply proof.
- Fill your own details.
Once you’ve downloaded the app, the onboarding process is simple and straightforward. In a couple of moments, it will explain the process of registering a NiyoX account but also getting started with your neo banking business. To use your zero balance savings account, please follow the steps and also have your PAN or Aadhaar ready.
Other Neo Banks Similar To NiyoX: Jupiter | Fi Money | Finin
NiyoX Bank Account Interest Rate
Who doesn’t want their money to outperform expectations? Your savings account balance of over 1 lakh rupees earns you an industry-leading 7% annual interest rate as a NiyoX member. To put it another way, if you want to be more formal, you can say:
- Annual interest on a savings account balance of equivalent to one lakh rupees is 3.5 percent.
- A consistent sum of more than one lakh rupees earns 7% p.a. interest.
As a result, your funds would gradually and steadily increase. For instance, if you’ve a balance of ₹110,000 in your savings account, you would receive 3.5 percent on the first ₹1 lakh and 7% on the remaining ₹10,000. NiyoX also promises to impose no account maintenance costs if you do not even maintain an AMB (average monthly balance) of ₹10,000.
NiyoX Customer Care Number and Email id
For Niyo/Global: 1860 258 6496
For Bharat: 1800 258 3009
For SME: 1800 258 3010
NiyoX Refer and Earn Program
Now is the time to start recommending your friends and earning rewards. In your NiyoX Bank account, you will receive Rs.125 cashback up to Rs.625.
NiyoX Reward Points
You can earn Equinox Reward Points for shop moves and all POS and internet business purchases made with your debit card while building your money with NiyoX. These Equinox Points can then be redeemed for special merchandise.
NiyoX is here to help you grow your money with constantly advanced account creation, frictionless asset transfers including payments on online and offline, easily available customer service, reward point programmes, and just a safe, secure, yet customizable wealth management platform.
A NiyoX account gives you access to the full wealth management package in addition to the savings account. Niyo Money’s entire wealth management suite includes zero commission mutual assets, an office where you can track all of your investments in one place, a Robo advising, and a component that analyses your investments, savings, plus costs.
Is Niyox Banking app safe?
For many people, neo-banking is a new concept, and as with everything new in banking, customers are concerned about their safety and security. Don’t worry, NiyoX has got you covered. You may rest easy knowing that your account is covered by insurance up to ₹5 lakh.
Who owns NiyoX?
Vinay Bagri is the owner of NiyoX.
Is NiyoX account free?
Yes! NiyoX zero balance saving account is absolutely free.
How do I close my NiyoX Bank account?
Log in to Equitas Small Finance Bank’s internet banking portal
Under ‘Quick Links’ click on ‘Service Request’
Click on ‘Assisted Services’ and choose ‘Account Closer Request’
Select your ‘Account Number’ and ‘ID Proof’
Upload the selected document copy in any of the given format .PDF, .JPG, .JPEG, .DOC, .DOCX
Type-in the reason for ‘Account Closing’
Click on ‘Proceed’
Niyox ATM withdrawal charges?
when you use your debit card in metro cities you will get 3 free ATM transactions and in non-metro cities, you will get 5 free ATM transactions, beyond that, you will be charged Rs 20 + taxes per transaction.
Cash withdrawal outside India: ₹110 + taxes from 1st International ATM transaction. Balance Enquiry outside India: ₹25 + taxes from 1st International balance inquiry.
To know all charges: Click Here