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NiyoX Account Opening | Zero Balance, 7*% Interest [GUIDE]

Niyo Bank Account Opening
Niyox Account Opening

Our unpredictable life has given us more reasons to maintain savings. The only reason that savings are a vital part of our lives is that it provides financial freedom and security at the time of economic crisis. You can live a debt-free life and, as a result, a stress-free life. 

Nowadays, everything is shifting into the online world, and savings, investing, and the entire banking system coincide with them. Coming to the main subject, it’s about a digital savings account. It is inaugurating a brand new savings account app, Niyox Savings App, that has a lot of exclusive features.  

As a result, today, we’ll talk about Niyox, one of the most highly recommended apps for saving accounts. So we’ll have a look at Niyox zero balance account opening, Niyox open account online, and more.

What is NiyoX?

NiyoX Equitas is a digital banking app developed with Equitas Small Finance Bank and VISA by Niyo, a pioneer in Indian neo-banking.

App NameNiyoX Digital Banking
App Size52.21 MB
Downloadniyox.apk
Version1.1.4
Total Downloads1,000,000+
Rating4.3
DeveloperFinnew Solutions Pvt. Ltd.
Bank NameEquitas Small Finance Bank
Customer Care1800 258 3009
NiyoX Android App Details

Its main motive is to make banking more transparent. This was the first part of India that combined a 2-in-1 savings and wealth management account.

Moreover, NiyoX digital will surely assist you in meeting your savings goals.

This excellent app has developed at a rapid pace to 10L+ active users, with a new account opening every 30 seconds. NiyoX intends to deliver financial services to consumers in the farthest regions of India.

Niyo Equitas net banking reached the most underbanked, with a capability of serving 26000+ pin codes across the country. 

Benefits of NiyoX Savings Account

Same as Airtel Payment Bank, Niyox Bank Zero Balance Account is famous for its many benefits. These are conveyed in the below points. Please go through it to know it much better. 

  • 0% commission on mutual funds
  • NiyoX bank Zero balance account
  • 7% annual return
  • Simple, safe, and secure. 
  • Smart, effective, and productive
  • Faster to radically transform your banking experience
  • Effortless savings in your daily hectic life

Features of NiyoX App

The NiyoX App comprises several features that make it a great savings account:

  • Niyo Money’s comprehensive wealth management suite allows you to keep track of all your investments in one spot.
  • Round up your expenses and invest the difference to help you manage your finances.
  • Visa Debit Card with Customizability and also Platinum Visa Debit Card with Customizability.
  • With every transaction, you can earn NiyoX reward points.
  • Wave capability allows users to hide their digital savings account balance from inquisitive eyes by waving their palms over it.

Documents Required for NiyoX Account Opening

You just need two main documents to register for your savings account.

PAN Card and Aadhaar Card are all that you require during the registration process.

These documents are mandatory to retrieve and verify your personal information for the Niyox KYC. 

Make sure to use the phone with an Aadhaar-linked phone number.

This is essential because an OTP will be allotted on an Aadhaar-linked mobile number throughout the onboarding process. 

How to Create a NiyoX Bank Account?

YouTube video
NiyoX Zero Balance Account Kaise Khole Online in Hindi

The entire procedure for creating a Niyox Zero Balance Account is quite modest and manageable.

To create a Niyox Open Account Online, you need to pursue the succeeding steps. 

  1. Install the NiyoX App on your Android or iOS device.
  2. Use your phone number and email address to sign up.
  3. For KYC, use your Aadhar number and PAN number to verify your identity.
  4. Fill up the requested personal information.
  5. Congrats!! Your Niyo equitas bank login is prepared for easy banking circumstances. 

Before following these steps, Make sure that you have your mobile number registered with your Aadhaar Card

NiyoX Refer & Earn Program for Savings Account 

Referring is always the most preferable way of earning rewards by people. Likewise several apps, this app also delivers refer and earn sections to you. You can give your friends and relatives your Niyox referral code generated by you so that they can sign up for NiyoX by using that code. 

  • Both you and your friend will earn a scratch card incentive of up to 200 Rupees after opening their account.
  • You can also win up to Rs 200 on depositing more than 999 Rupees successfully. 
  • It’s now or never to start referring friends and earning prizes. 
  • You will receive Rs.125 cashback up to Rs.625, in your Niyox Zero Balance Account Opening.

NiyoX Reward Points

While building your money with NiyoX, you can receive NiyoX Reward Points from store shopping and any internet purchases made with your debit card.

NiyoX Points can then be exchanged for exclusive items. NiyoX is here to help you build your money by providing you with many characteristics. 

It features account creation that is always advanced, seamless asset transfers, and online and offline payments.

What’s more?

They also offer customer service that is easily available, reward point systems, and a safe, secure, yet personalised asset management platform. 

Niyox Interest Rate on Bank Account

As a NiyoX member, your savings account balance of over 1 lakh rupees earns you an industry-leading 7% annual interest rate. Alternatively, if you wish to be more formal, you might say:

NiyoX Interest Rate
  • The annual interest rate on a one lakh rupee savings account balance is 3.5 percent.
  • A constant sum of more than one lakh rupees receives a rate of interest of 7% per annum.

As a result, your funds would steadily grow over time. For example, if you have a savings account balance of Rs110,000, you will receive 3.5 percent on the first Rs 1 lakh and 7% on the remaining Rs10,000. 

NiyoX interest rates also claim to charge no account maintenance fees if your AMB (average monthly balance) is less than Rs10,000.

NiyoX App Charges

  1. Bank account – NiyoX hopes to decode banking for recent college graduates with the bundle. Investments in mutual funds are free of charge. There are no account maintenance fees, meaning that the account is a savings account with no balance. On account balances, interest rates of up to 7% are available.
  1. Debit card – Your Platinum Visa Debit Card will also come with a computerized debit card and the ability to personalize it. To get started with neo-banking, download the NiyoX app. Each year, the niyo equitas debit card charges costs Rs.150 plus GST. 

As a result, go ahead and finish your biometrics so you may get your card right away.

The annual fee for the NiyoX physical debit card is eliminated if the biometric KYC is performed as part of the current promotional offer. 

NiyoX Customer Care Service

There are a few Niyox helpline number to call if you have any issues regarding your Niyox savings account and believe me, its customer service is excellent. 

  • Globally, the NiyoX bank customer care number can be reached by dialing the number 1800 258 3009.

FAQs

  1. What is Niyox?

    NiyoX is a digital banking app that lets you open a savings account for the best possible interest rates.

  2. Who is the founder of NiyoX?

    Vinay Bagri is the founder and CEO of NiyoX.

  3. Is using NiyoX banking actually safe?

    Yes! NiyoX Banking is safe and secure.

  4. How much does a NiyoX account cost?

    NiyoX offers a free zero-balance savings account.

  5. Does the Niyox app provide you with a debit card?

    Yes! It gives you a digital debit card that you can use for online transactions.

  6. Can I delete my NiyoX account permanently?

    Of course, Yes! You can discontinue your NiyoX savings account permanently.

  7. Is NiyoX debit card lifetime free?

    No! You have to recharge the platinum pack every second year to use it.

Conclusion

It would be best if you went with NiyoX Equitas because, in addition to the savings account, a Niyox Online Account Opening gives you access to the comprehensive wealth management package. 

NiyoX Money’s wealth management suite includes no-commission mutual funds. Besides, there’s an office where you can track all of your investments in one location, Robo advising, and a component that analyses your investments, savings, and costs.

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I am a Computer Science graduate with more than 10 years of experience in Blogging. I love to share my knowledge on desktop apps, finance, tips and tricks to save money online. You can find me on Linkedin, Facebook or Twitter.