Are you tired of keeping track of your savings & investment in the various applications? Are you bored with the poor interest rate in a savings account? Then, read this article completely. In this article, we have discussed Niyox Digital Savings account in detail.
About Niyox Bank
- Niyox bank is one type of Neobank. Neobanks are the banks that completely operates online and they do not have any presence in brick & mortar branch. In these Neobanks, the account management, as well as all transactions, are carried out securely online within a mobile app or the fintech company’s website. Often these banks partner with well-established traditional banks to provide banking services and beyond. In the case of Niyox bank, they have partnered with Equitas Small Savings Bank.
What is the Niyox digital savings bank account?
- Niyox is a digital banking app launched by Indian neo-banking pioneer Niyo in partnership with Equitas Small Finance Bank and VISA, designed to decode banking for the millennials. It’s the first of its kind product in India that offers a combined 2-in-1 savings and wealth management account to help you achieve your savings goals. You no longer have to maintain two separate apps to manage your finances.
Niyox Digital Savings Account Benefits
- Instant 100% paperless Account Opening – You can open your Niyox Digital Savings account in less than 100 seconds. The whole account opening process is completely paperless & hassle-free.
- 2-in-1 Account – NiyoX offers a 2-in-1 savings and wealth management account to take charge of your finances.
- Higher Interest Rate – You can get up to a 7% interest rate on your Niyox savings account balances.
- Zero forex markup – NiyoX offers a zero balance account with no strings attached. There are no charges for not maintaining a balance in your savings account at any point in time.
- Virtual and physical debit cards – The NiyoX account comes with two kinds of VISA debit cards – Virtual & Physical.
- Enhanced security control – You will get access to the security features of the Niyox account. With that, you can lock/unlock your card anytime you want.
- 0% commission on mutual funds – In the Niyox platform, you can invest in a mutual fund without wasting any money on commission.
- Exclusive Offers – With a Niyox savings account, you can get exclusive offers while shopping online.
- Safety – You can rest assured that your account is secured with insurance coverage of up to ₹5 lakhs from the RBI.
Niyox Savings Account Interest Rate
|Savings Account Balance||Interest Rate Per Annum|
|Up to ₹1 lakh||3.50%|
|₹1 – ₹5 lakhs||6.00%|
|₹5 – ₹2 crores||7.00%|
|Above ₹2 crores||5.50%|
How to open Niyox Digital Savings Account?
- To open a Niyox Digital Savings Account, follow the steps said below –
- Step 1: – Click here and download the Niyox Application.
- Step 2: – After downloading the application, you have to start the Sign Up process.
- Step 3: – To do that enter your mobile number and verify the OTP.
- Step 4: – Now enter your email id and verify the OTP.
- Step 5: – Now you will be asked to enter a referral code. Hence, enter the referral code “AJIT0079“. (By doing so, you will get a scratch card for up to Rs. 200.)
- Step 6: – Now verify your Pan Card details.
- Step 7: – Then verify your Aadhaar details.
- Step 8: – Now select your locality. If you can not find your locality, choose the ‘OTHER’ option.
- Step 9: – Now enter your personal details, like your Father’s Name, Mother’s Name, Marital Status, Place of Birth, Occupation, and Annual Salary.
- Step 10: – Then you have to enter your communication address.
- Step 11: – Add the Nominee (Optional)
- Step 12: – Now, click on the ‘Agree’ button of terms & conditions.
- Voila! You have successfully opened your Niyox digital savings account.
Niyox Customer Care
- For any assistance, you can contact Niyox customer care by dialing 1860 258 6496 or send your message at https://www.goniyo.com/contact-us/.
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