Niyo, in association with SBM Bank India and VISA has announced its offer for a digital savings account with travel-friendly product Niyo Global. Along with zero-forex mark-up, customers can now earn an attractive interest p.a. on the savings account.
Niyo Global which has a legacy of serving over 3,00,000 customers in the last two years, with this latest development aims to simplify foreign exchange spending for international travelers and students besides allowing them to save and earn on their Indian currency.
There is also a plan for rapid expansion in market share by listing partnerships with major travel aggregation companies and OTA’s.
Indian passport holders can now enjoy all the features of Niyo Global card like zero forex markup on car rentals, flight and hotel bookings, live currency conversion, ATM locator on the app etc. Besides, the account also provides 100 pecent digital onboarding, interest p.a. on balances with monthly interest payouts, complimentary airport lounge access, UPI features, cheque book and all other premium banking offerings, including domestic and international offers, according to a press release.
Niyo’s co-founder and CEO, Vinay Bagri said, “The Niyo Global is now upgraded to full service digital bank account for Global Citizens. It has helped users save Rs 50 crore in unnecessary markups on transactions worth Rs 1,000 crore in the last 2 years.
Neeraj Sinha, Head - Consumer & Retail Banking, SBM Bank India, said, “At SBM Bank, we believe the age of #SmartTravel is upon us. In a new normal world, it is imperative to redefine the traditional products through a customer-first and user-friendly perspective. This is exactly what we are aiming at through our partnership with Niyo.”
Niyo is planning to enhance the proposition by adding credit, making the offering equitably good to be used both domestically and internationally.
