Niyo Global Card by Equitas Bank

Niyo Global Card – Features and Benefits

The Niyo Global card is exclusively offered to Indian passport holders who have a Niyo Global digital savings account. You can earn up to 7% interest per annum on your savings account balance. The forex card is available in both a physical as well as virtual variant. The virtual card, however, allows only online domestic transactions. Proceed with ordering the physical Niyo Global card that can be used to make card swipes for in-store purchases, domestic and international online transactions, ATM withdrawals worldwide, and airport lounge access at international terminals in India.

Here is detailed information about the features and benefits of this card:

Zero Forex Markup Charges

Cardholders do not have to pay any extra charges for the convenience of making payments in foreign currencies. You just pay the Visa exchange rates that apply to your international payments.

No TCS on spends abroad up to ₹7 lakh

International travellers can now spend easily up to ₹7 lakh without worries of paying Tax Collected at Source (TCS). However, any spends above this threshold will attract TCS as per the latest announcements.

Swift card delivery in 2-3 days

The Niyo Global account opening process is entirely online and takes very less time and you get an instant virtual card for domestic online payments. The bonus is that the Niyo Global Card gets delivered within 2-3 days!

High Interest Rate on Savings

Cardholders can get a high 7% interest per annum on their savings balance.

User-Friendly Niyo Global App

The Niyo Global card comes with the best-in-class application for your smartphone along with the card. The app has many smart features to help international travellers throughout their travel abroad.

• Nearby ATM Locator – You can travel with minimum cash in your pockets as the Niyo Global application allows you to locate ATMs near you anywhere in the world, in India or abroad. You can withdraw foreign currency easily for any immediate needs.
• Live Currency Converter – The application has a real-time currency conversion tool so that you know accurate conversion rates and do not end up overpaying for any purchases while travelling.
• 24X7 Customer Support – Emergencies can take place anytime and the Niyo Global app provides you 24X7 chat support to handle your issues.

Travel Benefits

• Complimentary Lounge Access – Make your travels comfortable and peaceful with complimentary airport lounge access at international terminals in India.
• Exclusive Customized Deals – Based on your location, you receive exclusive offers. You can avail the benefits of these offers made just for you and save as much money as you can while travelling.
• Global Coins – An exclusive rewards program that offers cashback in the form of Global Coins on both your domestic spends as well as referrals. You can unlock these coins when you make international spends and redeem them for cash directly into your savings account.
• Instant Cash – Get access to instant credit up to ₹5 lakh within the Niyo Global app and use it for any immediate needs during your travels. Pay interest only if you use it and when you use it.

Security Features

• Real-Time Updates – You can check out real-time updates of your card balance, transactions, and much more.
• Lock-Unlock-Block Card – You can temporarily lock/unlock the entire card or individual payment channels which you don’t use very often. Also, if you ever lose your card, you can permanently block your card to maintain your account safety.
• Manage Card Limits – Keep your digital savings account in control by adding limits on withdrawals, locking payment channels such as card swipes, online payments, and more.
• Insurance Cover – The money in your Niyo Global account up to Rs.5 lakh is covered by the Deposit Insurance & Credit Guarantee Corporation (DICGC), an RBI subsidiary.

Referral Bonus

Refer the Niyo Global card to your family members and friends so they too can avail of  its benefits. For every successfully converted referral, you both get exciting 2,500 Global Coins (worth ₹250).

Eligibility Criteria for Niyo Global Card

The eligibility requirements and other criteria for the Niyo Global card are quite simple.

You must be an Indian citizen of 18+ years of age with a valid Aadhaar, PAN card, and an Indian Passport to open a Niyo Global digital savings account and get a Niyo Global Card.

How to Apply for the Niyo Global Card

You can follow these simple steps to get a Niyo Global Card:

• Download and install the Niyo Global application on your smartphone
• Use your Aadhaar, PAN, and Indian Passport to complete the KYC process.
• Once your account is up and running, you get an instant virtual Niyo Global card that will allow you to make online domestic transactions.
• There is no initial deposit that is required for the Niyo Global Equitas product. Order a physical Niyo Global card and it will be delivered in just 2 – 3 days.

Niyo Global Card – Fees and Charges

The following fees and charges apply to the Niyo Global Card –

• There is no joining fee for the card
• There is no annual fee for the card
• There is zero forex markup on international transactions with the card
• There is no fee for adding money to your card
• International ATM withdrawal charges – Rs. 110+ GST
• Domestic ATM withdrawal charges – 3 free withdrawals in a month and Rs 21+GST from the 4th withdrawal
• TCS is exempted on international spends up to Rs. 7 Lakhs in a financial year and 20% TCS is applicable beyond Rs. 7 Lakhs

Niyo Global Card – Transaction Limits

The Niyo Global card has certain limits on transactions as follows –

Conclusion

If you are someone who frequently travels abroad, then you must be wary of the fact that international transaction charges can take a huge toll on your wallet. The fees and surcharges on foreign currency payments are quite high and the Niyo Global card is the perfect choice for international travellers from India.

The card offers zero forex markup charges, and you can handle payments easily for more than 130 foreign currencies. Moreover, the Niyo Global digital savings account offers a high 7% interest on your savings. The Niyo Global card offers exclusive travel benefits like complimentary lounge access and customized offers during your travels. And its smartphone application offers best-in-class security and other convenient smart tools.

The eligibility requirements for the Niyo Global card are minimal and if you are someone who frequently travels abroad from India, you should definitely consider getting this card for yourself. Let us know in the comments if you plan on getting the Niyo Global Card for yourself.