Big News: Niyox smart saving account gives 7 per cent interest more than sbi fixed account

This is a savings account providing two types of facilities in one account, the account will be opened through mobile in 5 minutes and the benefit of wealth account will also be available with savings. You will get all these features in the mobile app of Neo.

A smart savings account is giving up to 7 percent interest on the amount deposited in the account. This savings account has been launched by Neo Niyo along with Equitas Small Finance Bank and Visa. This savings account can be easily opened on the NiyoX app. There is no need to go to the bank branch for this. The interesting thing is that the rate of interest being received on this smart savings account is higher than the fixed deposit FD of State Bank of SBI.

SBI is currently offering the highest interest rate of 5.40 percent on FD account. It may be higher for senior citizens but not more than 7 per cent. SBI is giving 5.40 percent interest to the general public on the deposits of 5-10 years while it is 6.20 percent for senior citizens. Talking about the savings account, SBI gives only 2.70 percent interest on the amount of Rs 1 lakh or more. In contrast, NiyoX’s Smart Savings Account is offering 3.5% interest on Rs 1 lakh and 7% interest on deposits above Rs 1 lakh.

Features of NiyoX Savings Account

1. This is a 2 in 1 account in which wealth account can be opened along with savings account.
2. In this paperless account is opened in minutes without any paperwork. It only takes 5 minutes
3. This account comes with zero maintenance charge. This is a savings account with a balance of Rs 10,000. If the customer does not maintain the minimum balance in the account, then no penalty will be imposed on him.
4. 7 percent interest is available on the savings account. 3.5% on deposits up to Rs 1 lakh and 7 percent interest is available on deposits above
5. Instant Virtual Debit Card (Visa Classic) is available as soon as the account is opened. Online transactions can be done with this card.
6. A physical Visa Platinum Debit Card is available upon ordering. For this, full KYC or biometric KYC will be required.
7. Under this, the customer will get the option to choose two designs of the card. Morse code and caricature card can be taken. Till June this year, both these cards were available for free. Now you have to pay.
8. Zero commission mutual funds can be opened through this account. Portfolio statement is issued by CAS which can be imported along with the account. Customers will be able to view all their portfolios in the Niyo app.
9. Each customer will be given a free credit report from CRIF.
10. Through the Neo app, customers can lock-unlock their accounts and set a PIN. Safety and security are fully guaranteed
11. Many hi-tech features are available with the mobile app of this account. Facility like ‘search any transaction’ and ‘categorise transactions’ are available on the app.
12. As soon as the account is opened, the customer starts getting many offers. Along with this, many facilities of regular offers, deals and cashbook are given.
13. Equinox Loyalty is given when you make funds transfer from mobile app, e-commerce or purchases on POS. You can redeem it on next purchase. Regular rewards and scratch cards are available from Neo.
14. Niyo is also going to launch domestic and international stocks on its platform soon.

This is a savings account providing two types of facilities in one account, the account will be opened through mobile in 5 minutes and the benefit of wealth account will also be available with savings. You will get all these features in the mobile app of Neo. It does not have any bank or branch, so all the work is done through the app. This company is giving the facility of ultra modern mobile banking to millions of people. This smart savings account has been launched by NiyoX with Equitas Small Finance and Visa. The company believes that by the end of 2021, 20 lakh customers will be made.