Niyo Global card

Got a mail from Niyo.

Niyo Global Secured Credit Card for you!

Hi,

This is in regard to the recent RBI circular due to which SBM has temporarily paused international transactions on your SBM Niyo Global Debit Card. We sincerely apologize for the inconvenience caused. We are working with the bank on a resolution as soon as possible and will keep you posted. In the meanwhile, to help with the situation, we have fast-tracked the SBM Niyo Global Secured Credit Card, which we will deliver to you free of cost!

The SBM Niyo Global Secured Credit Card comes with great features:

Zero forex markup charges on international transactions
FD gives an interest rate of 6.75% per annum
Visa Infinite with amazing rewards and benefits
No TCS deducted for spends even beyond 7 lakhs
No credit score required

Get Your Credit Card (Link)

What is a Secured Credit Card?

A Secured Credit Card is a Credit Card issued against a Fixed Deposit. You will need to create a Fixed Deposit of Rs 5,000 minimum in the app. Your credit card limit will be the same as your Fixed Deposit amount. For example, if you do an FD of Rs 50,000, the Credit Card limit will be Rs 50,000. Your monthly bill will be generated upon usage which needs to be paid to reinstate the Credit Card limit. So, you enjoy a free credit period while your FD earns interest for you!

How will I get my Credit Card?

As soon as you do the Fixed Deposit and order the card, you can start using the card on Ecom apps and websites. We will deliver your card to your communication address in 7-15 working days, free of cost.

Things to note

You cannot break the FD before 3 months of creating it.
If you break the FD, your card will get blocked. The card can’t be un-blocked or re-issued as of now.
We recommend you don’t make an FD of more than Rs 1 lakh.

Please refer to the FAQs we have compiled for you for more details.

Hope we have made up for the inconvenience caused to you by bringing you a better experience!

Get Your Credit Card (Link)

For any questions, please feel free to reach out to us via the in-app chat or email us at global@goniyo.com.

Best
Team Niyo
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hashedout said:
It says SBM Debit Cards, I'm outside India right now and I think the SBM Credit Cards are still working (OneCard & RazorpayX)

Can we apply specifically for that?
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The app is different for that. Search play store for Niyo DCB. It doesn't have good reviews though.

prime said:
Got a mail from Niyo.
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Yeah. It's amazing that they cooked a whole new app overnight for this credit card.

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I have my eyes on FI debit card. It's run by Federal bank. Features more or less identical to Niyo.
 
hashedout said:
It says SBM Debit Cards, I'm outside India right now and I think the SBM Credit Cards are still working (OneCard & RazorpayX)

Can we apply specifically for that?
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Not now i guess....it was when launched.
lockhrt999 said:
The app is different for that. Search play store for Niyo DCB. It doesn't have good reviews though.


Yeah. It's amazing that they cooked a whole new app overnight for this credit card.

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I have my eyes on FI debit card. It's run by Federal bank. Features more or less identical to Niyo.
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Does FI debit card gives same features as niyo global for foreign remittance or payments or cash takeout
 
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I was also looking out for some zero forex card when I hit upon Niyo and Fi. Niyo is high risk I believe due to the SBM relationship.

Is there any other options similar to Fi?
 
rockyo27 said:
Which is better....Fi or Niyox.....i have niyo card with dcb bank since inception and it will expire in 5 months. So looking for a new card as i don't know if it will be renewed.
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No idea. Somebody who has some experience with FI or niyox should tell us. I'd say apply for both. What's there to lose?
 
this card saved me lot of money and was my go to card for shopping abroad.
Cousin going usa sometime mid this year and got few things in mind.

but must say current dollar rate is making shopping abroad difficult. prices are now even more closer to Indian prices for most things than ever before. only for really good sales does one can think of getting something.


will follow this thread and see what good alternative you guys are using and try to get that only.
 
So I started using my Fi card as I got to know about its 0% markup and guess what! After just 2 transactions I got this mail:

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But, I also have the NiyoX card with me which also has 0% forex markups, So I have started using that. Going to close my Fi account when I get back to India. No point in having it now.
 
benryu said:
@hashedout NiyoX card comes with one year free only. Is there any info on the criteria for the 3 different Fi accounts?
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Where did you see this one-year thing? Also, I don't know about all of the types but for the Salary account it says that you need to enter your employer's GST number and you should have a minimum salary of 20k.
 
hashedout said:
Where did you see this one-year thing? Also, I don't know about all of the types but for the Salary account it says that you need to enter your employer's GST number and you should have a minimum salary of 20k.
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Fi's transparent fee structure, no hidden charges

All you need to know about the zero-balance Fi Federal Savings Account, with no transaction fees, free ATM withdrawals, and no hidden charges
fi.money fi.money

This website gives breakdown of fees now. NiyoX i think i read it somewhere. Let me try and find the source.
 
Whats the current status of the card guys? Is it working for international transactions? If not do we have any alternative available?
 
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