Open Salary Account Online with NiyoX
NiyoX Digital Salary Account
Are you a salaried individual? If you answered that question with a “yes”, you already know the feeling of stretching your salary through the month. What if there was a way to make your salary go the extra mile and help you grow it effortlessly? A little extra goes a long way, don’t you agree?
Helping you make your salary last longer is what we do best with the NiyoX Salary Account. NiyoX at its core is an instant digital savings account created especially for salaried millennials. It’s a 2-in-1 proposition of a Savings and Wealth Account that helps save, invest, and grow money all in one place, so you don’t have to hop between different apps, companies, or web portals. The NiyoX savings account is created in partnership with the Equitas Small Finance Bank and VISA, whereas the DIY mutual fund investment platform is powered by Niyo Money in association with 5 Paisa. We do the heavy lifting for you so you can have a seamless banking experience.
Features and benefits of NiyoX salary account
Your NiyoX 2-in-1 account is a feature-packed instant digital savings account and the best salary account for numerous reasons:
- Paperless onboarding: With no more bank visits, waiting in long queues, or confusing forms to fill out, the process ensures you can open an account 24X7 from anywhere. You can have access to a brand new bank account in less than 100 seconds — salary account opening online couldn’t get easier than this
- Minimal documentation: NiyoX salary account opening online is very easy. You just need your PAN, Aadhaar, and access to your Aadhaar-linked mobile number. Since the account opening is completely online, there’s no need to rush to get photocopies of your documents at any time.
- Zero balance account: With no need for maintaining an Average Monthly Balance (AMB) at any point in time, you have the freedom to operate your instant salary account without any strings attached
- Industry-best 7% interest p.a.*: Salary account interest rate varies with different banks and types of accounts. NiyoX brings you the best in the class interest rate that ensures gentle yet steady growth of your account balance. Opting for a NiyoX digital salary account will help you to steadily build enough balance to earn the 7% interest rate annually. The interest is calculated on the daily end of the day balance and the accrued interest is credited to your account every quarter so you can enjoy the benefits of your growing balance sooner.
- Instant debit card: Your NiyoX account comes with a nifty virtual VISA Classic Debit Card that can be used for online transactions, the moment you open your account
- Physical debit card: Your physical international VISA Platinum Debit Card comes with a convenient Tap & Pay feature for contactless payments for quicker checkout at stores. You can pick your choice from two cool card designs — Illustration style/Light halftone and Dotted/Dark halftone — whichever catches your fancy.
- Enhanced card controls: The card comes with custom card controls right within the app for enhanced security of your account. You can lock/unlock your entire card or individual payment channels (POS, ECOM, ATM, Spend abroad) or block the card permanently if it gets lost/stolen, The Tap & Pay feature for contactless payments ensures faster payments at checkouts.
- Zero forex markup: Your physical international VISA Platinum card can be used to make purchases online at international websites as well as for in-person transactions abroad. Normally, banks add a surcharge of up to 3% of the total transaction amount of an international transaction. The NiyoX card comes with a zero forex markup facility, meaning Niyo doesn’t charge any fee and all international transactions benefit from the VISA exchange rates applicable worldwide.
- Multi-format account statement: The NiyoX account allows you to download statements within the app in your desired date range and format for ease of analyzing your expense pattern and making habitual changes if needed
- Mutual fund investments: NiyoX is a 2-in-1 account with a DIY wealth management platform that offers zero commission on all direct mutual fund investments within the app. The curated list of recommendations and market research makes it easy to get you started with your investments.
- Micro-investing with spare change: The Invest the Change feature within the app gives you the opportunity to save and invest small amounts in a mutual fund of your choice. All your spending can be rounded off to the nearest ₹10/50/100 and the accumulated spare change can be invested with the fully-automated hassle-free process within the app. When you use your salary account for your everyday expenses too, you’ll accumulate enough spare change to invest small chunks of money effortlessly–regularly!
- Import portfolio: You can import your mutual fund portfolio from other platforms and track it within the NiyoX app
- Referral Rewards: This feature lets you introduce your family and friends to experience NiyoX digital banking and get you both exciting incentives
- Offers: The exclusive in-app offers and discounts on leading brands help you get the best of what your favourite brands have on offer for you
- Monthly cashback: What’s more? Opting for a salary account activates the salary rewards program that earns you a cashback of up to ₹250/month for 12 months*
With these compelling features, the benefits of a salary account by NiyoX outweigh your average salary account any day.
Digital Savings Account
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