{"id":6128,"date":"2022-03-19T09:00:02","date_gmt":"2022-03-19T03:30:02","guid":{"rendered":"https:\/\/aayushbhaskar.com\/?p=6128"},"modified":"2022-04-18T07:42:54","modified_gmt":"2022-04-18T02:12:54","slug":"niyo-india","status":"publish","type":"post","link":"https:\/\/aayushbhaskar.com\/niyo-india\/","title":{"rendered":"Niyo & NiyoX Review – Everything You Need to Know","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
How many of you would have been told by your parents to go to the bank and deposit money in your bank account? <\/span><\/p>\n Yes, I can hear you saying “why?”. <\/span><\/p>\n Technology and innovations in Banking have changed our lives and they\u2019re all shaking up the worlds of money and tech, redefining how we interact with one another financially. <\/span><\/p>\n And it\u2019s barely even begun.<\/span><\/p>\n Banks and financial institutions are gearing up for the next generation of digital customers by adopting new technologies, such as AI, machine learning, blockchain, and chatbots.<\/span><\/p>\n For this purpose, they are partnering with FinTech startups to explore new and innovative ways of improving the customer experience.<\/span><\/p>\n In this article, I am going to review all the products offered by Niyo Solutions Inc. – India\u2019s leading Fintech, which is making banking simpler and smarter by placing your bank account, investments, and payment cards in one place.<\/span><\/p>\n Year of inception<\/em><\/strong>: 2015<\/span><\/p>\n Founders<\/em><\/strong>: Vinay Bagri and Virender Singh Bisht<\/span><\/p>\n Top Investors<\/em><\/strong>: Tencent, Social Capital, Horizon Ventures, Prime Ventures Partners, and JS Capital<\/span><\/p>\n No. of Customers<\/em><\/strong>: More than 1.5 Million Customers<\/span><\/p>\n Products<\/em><\/strong>:\u00a0<\/span>NiyoX<\/span><\/a>,\u00a0<\/span>Niyo Global<\/span><\/a>,\u00a0<\/span>Niyo Bharat<\/span><\/a>,\u00a0<\/span>Niyo Money<\/span><\/a>\u00a0<\/span><\/p>\n I’ve checked all the amazing products from Niyo. <\/span><\/p>\n Here’s my review of Niyo and NiyoX plus other fintech products they offer.<\/span><\/p>\n <\/p>\n As a millennial myself, I know how annoying it can be when you want to open a bank account, but you have to choose between going to a bank branch in person or using the slow-moving mobile App. <\/span><\/p>\n We aren’t happy with the banking system. We complain that it is too expensive, too slow, and doesn’t offer enough convenient options.<\/span><\/p>\n Niyo partnered with Equitas Small Finance Bank to create NiyoX – a Neobank.<\/a><\/span><\/p>\n NiyoX is trying to solve those problems by providing a 2-in-1 Neobank account that takes care of both your savings and investments. <\/span><\/p>\n It offers a Bank Account with zero commissions on mutual funds<\/a> and up to 7% interest per annum on savings.<\/span><\/p>\n Here are the best features of the NiyoX Account:<\/strong><\/p>\n \u00a0 \u00a0 \u00a0\u00a0<\/span>*3.5% upto Rs 1lac,\u00a0<\/span><\/em><\/p>\n \u00a0 \u00a0 \u00a0\u00a06% above Rs. 1lac and upto Rs. 5lacs,\u00a0<\/span><\/em><\/p>\n \u00a0 \u00a0 \u00a0\u00a07% above Rs. 5lacs and upto Rs. 50lacs,<\/span><\/em><\/p>\n \u00a0 \u00a0 \u00a0\u00a05.5% above Rs. 50lacs<\/span><\/em><\/p>\n Two more exciting features which are coming soon are:<\/span><\/p>\n There is only one problem which I found in overall experience is that\u00a0<\/span>NiyoX is currently unavailable in\u00a0<\/span><\/strong>Andaman & Nicobar Islands, Arunachal Pradesh, Assam, Bihar, Dadra & Nagar Haveli, Daman & Diu, Goa, Jammu & Kashmir, Jharkhand, Lakshadweep, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Sikkim, Tripura, West Bengal & Eastern UP.<\/span><\/p>\n Verdict:\u00a0<\/span><\/strong>Digital Bank Account within 100seconds using only PAN and Aadhar is miraculous. <\/span><\/p>\n So NiyoX is changing lives and is 100% recommended. <\/span><\/p>\n In addition to it, in the future, Niyo may partner with more banks to scale and increase its reachability. For more details, click\u00a0<\/span>here<\/span><\/a>\u00a0to find the term and conditions of NiyoX.<\/span><\/p>\n Click below to download the NiyoX App and open an account online<\/span><\/p>\n \u00a0<\/span>iOS Users<\/span><\/a><\/p>\n Android Users<\/span><\/a><\/p>\n <\/p>\n If you travel abroad often, then having a Forex card can be a lifesaver. <\/span><\/p>\n Having the correct currency is essential because of the higher rate you pay in conversions. Plus, carrying cash everywhere isn\u2019t ideal \u2014 it gets lost easily and becomes a burden on your wallet.\u00a0<\/span><\/p>\n The Forex Cards have the advantage of allowing you to convert several currencies into one single currency, so you don\u2019t have to deal with several different cards for your international trips.\u00a0<\/span><\/p>\n Niyo Global is a new aged Forex card that comes with a bundle of features making it unique, affordable, and awesome.\u00a0<\/span><\/p>\n For students, Niyo has launched a student Forex Card considering the requirements of a student studying abroad. Click\u00a0<\/span>here<\/span><\/a>\u00a0for more details.<\/span><\/p>\n Let’s see what makes Niyo Global superior to other Forex Cards:<\/span><\/p>\n \u00a0 \u00a0Cons:\u00a0<\/span><\/p>\n Verdict:\u00a0<\/span><\/strong>No doubt, Niyo Global is an amazing product loaded with so many features, but I would recommend you to carry an alternate forex card as well in case of low acceptance in any place.\u00a0<\/span><\/p>\n Note:\u00a0<\/span><\/strong>Currently, two variants of Niyo Global are available:<\/span><\/p>\n Niyo Global DCB<\/a>\u00a0and\u00a0Niyo Global SBM<\/a><\/strong><\/p>\n There are very few differences between the two cards. <\/span><\/p>\n You can choose the card of your choice. I have covered Niyo Global SBM in this review.<\/span><\/p>\n However, you can click below to find the schedule of charges and the terms and conditions of both cards.<\/span><\/p>\n <\/p>\n A digital salary account is a kind of new-fangled payroll. It’s for anyone who has a job that pays by the hour or day.<\/span><\/p>\n Niyo Bharat is like that, but it’s not just a payroll; it’s also a savings plan and a pension plan. <\/span><\/p>\n More than that, it can be used to book travel, send money to friends and relatives, pay utility bills, buy stuff online, and pretty much do anything you normally use a wallet for.<\/span><\/p>\n Niyo Bharat platform empowers the unbanked population in India with the zero balance yet powerful selected banking services. <\/span><\/p>\n I find it a simple, scalable, and ultimately empowering system for financially underserved segments of communities through innovative models of social enterprise driven by an exemplary team with real-life expertise. <\/span><\/p>\n The key highlights are zero-balance, free usage, and an interoperable platform \u2013 enabled by digital connectivity in a card-based system.<\/span><\/p>\n Like any new thing in India, Niyo Bharat was controversial at first. Now there are no problems with it at all. People love it.<\/span><\/p>\n Here is the list of best features of Niyo Bharat:<\/span><\/p>\n There is only one problem that I found is that iOS App for Niyo Bharat is yet to be developed.<\/span><\/p>\n Verdict<\/span><\/strong>About Niyo<\/span><\/strong><\/h3>\n
NiyoX<\/span><\/strong><\/a>\u00a0 \u00a0(Also known as NiyoX-Equitas)<\/span><\/strong><\/h2>\n
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Niyo Global<\/span><\/strong><\/a><\/h2>\n
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Niyo Bharat<\/span><\/strong><\/a><\/h2>\n
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