Niyo Global Card by Equitas Bank

Niyo Solutions, in collaboration with Equitas Small Finance Bank, has introduced the Niyo Global card—a cutting-edge digital savings account that stands out with its premium features. Offering an attractive interest rate of up to 7% on savings, this card also distinguishes itself by imposing no forex markup charges on global transactions.

For individuals frequently embarking on business trips, international vacations, or pursuing higher education abroad, the Niyo Global card emerges as a practical and cost-effective solution for managing payments across more than 130 currencies.

While conventional foreign transactions often incur substantial surcharges and fees, the Niyo Global card’s unique zero forex markup feature enables users to save up to 5% with every card transaction, presenting a valuable advantage for those traversing international borders.

Key Highlights of Niyo Global Card by Equitas Bank

  1. No forex markup fees for international transactions.
  2. Load funds in INR and conduct international payments in over 130 currencies.
  3. Accepted worldwide in over 150 countries by merchants that honor Visa cards.
  4. Earn a competitive interest rate of up to 7% p.a. on your savings.
  5. Access a user-friendly mobile app with a global ATM Locator and Currency Converter tool for real-time forex rate checks.
  6. Enjoy complimentary airport lounge access at international terminals in India.
  7. Experience real-time security updates and receive instant card balance notifications.

Features and Benefits of Niyo Global Card by Equitas Bank

The Niyo Global Card by Equitas Bank offers several features and benefits:

1. Zero Forex Markup Charges:

  • Cardholders pay no additional fees for foreign currency transactions.
  • Payments in international currencies are processed at Visa exchange rates.

2. No TCS on Spends up to ₹7 Lakh Abroad:

  • International travelers can spend up to ₹7 lakh without incurring Tax Collected at Source (TCS).
  • TCS applies only to spends exceeding this threshold.

3. Swift Card Delivery in 2-3 Days:

  • Online account opening with Niyo Global ensures quick processing.
  • Receive an instant virtual card for domestic online payments, and the physical card is delivered within 2-3 days.

4. High Interest Rate on Savings:

  • Cardholders earn a competitive 7% annual interest on their savings balance.

5. User-Friendly Niyo Global App:

  • The accompanying app enhances the travel experience with smart features.
  • Access nearby ATMs globally, a live currency converter, and 24X7 customer support.

6. Travel Benefits:

  • Enjoy complimentary lounge access at international terminals in India.
  • Receive exclusive, location-based deals and participate in the Global Coins rewards program for cashback.

7. Instant Cash:

  • Access instant credit up to ₹5 lakh through the Niyo Global app for immediate travel needs.
  • Pay interest only on the utilized amount.

8. Security Features:

  • Real-time updates on card balance and transactions.
  • Lock/unlock the entire card or specific payment channels for added security.
  • Set limits on withdrawals and payment channels to manage the digital savings account.
  • Deposit Insurance & Credit Guarantee Corporation covers up to Rs. 5 lakh.

9. Referral Bonus:

  • Refer the Niyo Global card to family and friends for mutual benefits.
  • Both referrer and referee receive 2,500 Global Coins (worth ₹250) for each successful referral.

Niyo Global Card by Equitas Bank Fees and Charges

Explore the fee structure for the Niyo Global Card by Equitas Bank and discover the financial advantages that come with it.

  1. No joining fee is required for the card.
  2. The card does not have an annual fee.
  3. International transactions with the card incur zero forex markup.
  4. Adding money to the card is fee-free.
  5. International ATM withdrawal charges amount to Rs. 110 + GST.
  6. Domestic ATM withdrawal charges include 3 free withdrawals per month, and Rs. 21 + GST is charged from the 4th withdrawal onwards.
  7. TCS is waived on international spends up to Rs. 7 Lakhs in a financial year, and a 20% TCS is applicable beyond Rs. 7 Lakhs.

Eligibility Criteria for Niyo Global Card by Equitas Bank

Here are essential criteria for applying for an Niyo Global Card by Equitas Bank:

  1. To qualify for the Niyo Global card, one needs to meet straightforward eligibility criteria.
  2. Eligible individuals must be Indian citizens aged 18 and above.
  3. The necessary documents include a valid Aadhaar, PAN card, and an Indian Passport.
  4. Opening a Niyo Global digital savings account is contingent upon meeting these criteria.
  5. The Niyo Global Card is accessible to those who fulfill the specified requirements.

How To Apply for Niyo Global Card by Equitas Bank?

Follow these steps to apply for the Niyo Global Card by Equitas Bank:

  1. Get started by downloading and installing the Niyo Global app on your smartphone.
  2. Complete the KYC process using your Aadhaar, PAN, and Indian Passport.
  3. Upon successful setup, receive an instant virtual Niyo Global card, enabling seamless online domestic transactions.
  4. Enjoy the convenience of opening a Niyo Global Equitas account without any initial deposit requirement.
  5. Order a physical Niyo Global card, and expect delivery within 2-3 days.

Frequently Asked Questions (FAQs)

1. Is there any forex markup on international transactions with the Niyo Global Card?

No, the Niyo Global Card boasts zero forex markup on international transactions, making it an attractive option for international travelers.

2. Are there charges for adding money to the Niyo Global Card?

No, there is no fee for adding money to the Niyo Global Card, offering users a convenient and cost-free reloading process.

3. What are the international ATM withdrawal charges with the Niyo Global Card?

International ATM withdrawal charges are Rs. 110 + GST.

4. What are the domestic ATM withdrawal charges for the Niyo Global Card?

Users enjoy 3 free domestic ATM withdrawals per month. From the 4th withdrawal onwards, a charge of Rs. 21 + GST is applicable.

5. Is TCS (Tax Collected at Source) applicable to international spends on the Niyo Global Card?

TCS is exempted on international spends up to Rs. 7 Lakhs in a financial year. Beyond Rs. 7 Lakhs, a 20% TCS is applicable.

6. Can the Niyo Global Card be used for online purchases?

Yes, the Niyo Global Card can be used for online transactions, providing a secure and convenient way to shop internationally.

7. What currency is the Niyo Global Card denominated in?

The Niyo Global Card is denominated in Indian Rupees (INR), providing users with the flexibility to make transactions in their home currency.

8. Is there a limit on the amount that can be loaded onto the Niyo Global Card?

Yes, there may be a maximum limit on the amount that can be loaded onto the card. It is advisable to check the specific terms and conditions or contact Equitas Bank for details.

9. How can I check the balance and transaction history on my Niyo Global Card?

Users can check their card balance and transaction history through the Equitas Bank website, mobile app, or by contacting customer support.

10. What should I do if my Niyo Global Card is lost or stolen?

In case of loss or theft, users should immediately contact Equitas Bank’s customer support to report the incident and request assistance in blocking or replacing the card.