Utkarsh Niyo Savings Account

Experience the convenience of new age banking with our Zero Balance Account, designed to simplify your financial journey.

Earn high interest rates of up to 7.75%* PA with Utkarsh Niyo Savings Account.

What’s more! Despite a zero balance Account, the Bank in partnership with Niyo offers Co-Branded Debit Cards of two variants with RuPay.
1. RuPay Contactless International Platinum Debit Card
2. RuPay Contactless International Classic Debit Card
To make transactions even more effortless, the RuPay Debit Card comes equipped with Tap & Pay functionality.

Rewards

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Rewards

1 reward point on every 100 spends on debit card

15% discount

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15% discount

1 reward point on every 100 spends on debit card

Free

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Free

Cash withdrawal on Utkarsh Bank ATMs

  • Utkarsh Small Finance Bank in partnership with Niyo Solutions enables a digital financial journey via NiyoX App. Finnew Solution Private Limited (Niyo) was founded in 2015. NiyoX App provides easy access to a range of banking features, allowing you to manage your finances in just a few clicks. Additionally, elevate your savings with our high interest rate earning Fixed Deposits, in line with the Bank's current rates.

  • Complete Digital Account Opening Process on NiyoX App

  • Zero Balance Account

  • Instant Generation of Virtual Debit Card & On demand Physical Debit Card

  • Earn Higher Rate of interest upto 7.75% p.a*

  • Exclusive Cashback and Discount Offers

  • Lounge Access at Domestics Airports**

  • **1 lounge access per quarter with Rupay Contactless International Platinum Debit Card

    • Video KYC is completely Free

    • Zero minimum balance/non-maintenance fee

    • For complete details on fees & charges , Please Click here

    • Only Indian residents are eligible to open the Utkarsh Niyo Savings Account

    • Should have attained 18 years at the time of opening the Account

    • It is an exclusive individual operational Account only

    • The Aadhaar of the individual must be linked with the Mobile No. & PAN card

    Balance in Rate of Interest w.e.f. May 01, 2024
    Balance up to 1 Lakh 4.00% p.a.
    Incremental Balance above 1 Lakh up to 5 Lakhs 6.25% p.a.
    Incremental Balance above 5 Lakhs up to 2 crore 7.50% p.a.
    Incremental Balance above 2 Crore up to 10 Crore 7.25% p.a.
    Incremental Balance above 10 Crore upto 50 Crore 7.50% p.a.
    Incremental Balance above 50 Crore 7.75% p.a.

    * T&C Apply

    *Important Point: No Additional Interest Rate for Senior Citizen.

    Loan calculator

    Amount ()

    1 Lac

    10 Cr

    Tenure ( )

    1 Month

    120

    Interest Rate (%)

    1%

    31%

    line-chart-pattern-bg
    Equated Monthly installments (EMI)

    2,10,651

    Need more Information?
    Deposit Amount
    Interest Earned

    Interest Rate

    8.00%

    Interest Earned

    3,50,452

    Maturity Value

    13,50,452

    Maturity Date

    20 Apr 2023

    (Indicative interest rates for calculation only. click here for latest rates.)

    FAQs

    Utkarsh Niyo Savings Account is a Digitally opened Savings Account offered by Utkarsh Small Finance Bank in collaboration with Niyo.

    Utkarsh Niyo Savings Account comes with all the digital experience and exciting features:
    ● A Complete Digital Onboarding Process with easy access to banking features via the NiyoX mobile App.
    ● Zero Balance Account with Nil Maintenance Charges
    ● Higher Rate of Interest on Savings Account Balance as per Bank’s Current Rate
    ● Instant Generation of Rupay Classic Virtual Card – Free of cost [only for E-Com]
    ● One App to manage all your Debit Cards,transaction limits, beneficiary management and fund transfers.
    ● Exclusive Domestic Airport Lounge Access [One Per Quarter] for Rupay Contactless International Platinum Debit Card Holders
    ● Exclusive feature to get your mobile number as a part of your Account number*
    ● Debit Card with Tap & Pay along with Global Acceptance**
    ● 5 Cheque Leaves, Free of Cost
    ● A super-user-centric App with enhanced security to control and monitor transactions.
    ● 24*7 access to the support team via Chat
    *Your registered mobile number [used for Account opening] will be used in your 16-digit Account number **Bank will levy applicable forex charges on international transactions

    We are offering a complete Digital Savings Account opening process, please download the Niyo X App and follow the below-mentioned steps:
    ● Complete the full KYC with Aadhaar, PAN Card, and the video KYC method.
    ● Your Account will be ready with a virtual card to use for online transactions.
    ● You can choose to apply for a physical Debit Card to transact at a POS or ATM.

    No, this Account opening process is completely digital.

    The Bank is offering the best interest rate for Savings Accounts in the market. Please visit https://www.utkarsh.bank/ to find the latest interest rates.

    Video KYC allows you to open an Utkarsh Niyo Savings Account immediately. While onboarding, you will enter your details, and will have the option to initiate a video call with our Bank executive to complete your V-KYC process. The video call ensures that you no longer need to visit the branch to complete your KYC.

    No, Video KYC is completely free, customers need to complete the video KYC process to open the Utkarsh Niyo Savings Account.

    Video KYC process is quite easy. Please keep the following documents available with you before starting the call.
    ● Original PAN Card
    ● A white sheet of paper and a blue ball pen.
    ● A device [mobile, tablet, laptop, or desktop] with good internet speed.

    After successfully completing the video KYC call, your application will be processed by our bank’s official. On successful verification, your Savings Account will get activated, and you will be informed via e-mail and SMS. If you haven’t received any communication from our side after 4 business days, please contact us at Customer Care: 1800 123 9878 .

    The Bank offers you a virtual Debit Card free of cost when you open an Account using the Niyo Mobile App. You can use it to shop online, pay bills, and recharge. To apply for your physical Card, please log in to the Niyo App and apply for the Card of your choice.Your physical Debit Card will be delivered to you in 7–10 days, depending on your location.

    No! You can use virtual Cards for online transactions only. You may use your physical Debit Card to withdraw money from any other bank’s ATM.

    You can view your virtual Debit Card on the Card Settings page in the NiyoX App. Here's how to do it:
    1. Tap on Bank at the bottom of the screen. This will take you to the Savings Account screen.
    2. Then, tap on the NiyoX Debit Card icon located below the balance Card.
    3. Select View Details.

    We regret to inform you that you may not be able to open the Account digitally, but you can visit the nearest Utkarsh Small Finance Bank branch to open an Account.

    We can’t onboard you digitally without Aadhaar or a PAN Card. However, you can visit the nearest Utkarsh Small Finance Bank branch to open an Account.

    Video KYC is completely safe and secure. Information shared by you during a video KYC call is encrypted with advanced technology.

    The security of your personal information and your online banking transactions is of utmost importance to us. We maintain strict security standards to prevent unauthorised access to your information.

    Providing location access will help us in ascertaining your location. According to RBI guidelines, you need to be in India to carry out the video KYC. This is for verification purpose only and will not be shared with anyone.

    In case the video KYC process is suspended in between, you can restart the video KYC process, or if your Account is open, you will receive a communication from the Bank/Niyo.

    You can complete VKYC as per your convenience. Our Video KYC team is available every day from 7 a.m. to 11 p.m.

    You may raise a request for Cheque Book by calling the Bank customer support team or visit the nearest Utkarsh SFBL branch. The Cheque Book will be delivered to you in 7–10 days, depending on your location.

    Yes, you can manage your Debit Card and set transaction limits by logging into the NiyoX Mobile App.

    This is a zero-balance Account, and there is no minimum balance required to be maintained.

    No, currently only Indian resident individuals aged 18 and above can open this Account. You may visit the nearest Utkarsh Small Finance Bank to open a joint Account or visit https://www.utkarsh.bank/locate-us to find the nearest branch.

    You can easily transfer funds via UPI, IMPS, and NEFT after logging into the Niyo Mobile App.

    We regret for the inconvenience caused. We would suggest you to track your welcome kit once it is dispatched on your Niyo X App.

    You can transfer funds to your Account from any other Bank Account via UPI/IMPS, NEFT, and RTGS. You may also visit the nearest Utkarsh Small Finance Bank to add funds to your Account.

    Don’t worry, the full amount will be credited back into your source Bank Account as per the policy of the source Bank if the transaction has failed. We’re sorry about the inconvenience.

    It’s easy! Please log in to your NiyoX Mobile App and tap on recent transactions to check the transactions.

    If you ever come across a transaction that seems suspicious or fraudulent, we're here to assist you. Kindly reach out to our customercare center at 1800-123-9878, and our team will guide you through the necessary steps.
    Alternatively, you can visit the nearest Utkarsh Small Finance Bank branch to submit any requests or complaints related to the issue. Your convenience is our priority, and we're committed to resolve any concerns you may have.
    Additionally, we recommend blocking your NiyoX Debit Card if it has been lost or if someone has access to its details and is involved in fraudulent activity. To block your Card, please follow these steps:
    1. Tap Bank at the bottom of the screen, which will take you to the Savings Account screen.
    2. Locate and tap the NiyoX Card icon to open Card Settings [typically found below the balance card].
    3. Tap on Block [usually located at the top right corner in red].
    Please be aware that once your NiyoX Debit Card is permanently blocked, it cannot be unblocked. To continue using a physical card, you may need to reapply for a new card through your NiyoX App.

    To add or remove a beneficiary from your NiyoX Account, follow these steps:
    1. Tap on Bank at the bottom of the screen, which will take you to the Savings Account screen.
    2. Tap on Transfers, then select Manage Payee, and tap on Add New Payee.
    3. Add the details of the payee, including their Account number, beneficiary name, and IFSC code.
    4. Enter the OTP sent to your registered mobile number for verification.
    5. The beneficiary will be successfully added to your Account.
    Please note: There will be a cooling period of 4 hours after a beneficiary is added, during which you will not be able to transfer money to the beneficiary. The cooling period is 30 minutes only if the beneficiary Account belongs to Utkarsh Small Finance Bank.

    To reset your NiyoX Debit Card PIN, you can easily follow these steps:
    1. Tap on Bank at the bottom of the screen, which will take you to the Savings Account screen.
    2. Next, tap on the NiyoX Debit Card icon located below the balance card.
    3. Select Reset PIN.

    To access and share your NiyoX Account number and IFSC code, follow these steps:
    1. Tap on the profile icon, which is located at the top right corner next to the chat and notification icons.
    2. You will be able to view your Account number and the associated IFSC code.
    3. To share these details with someone, tap on the share button next to the Account number and IFSC code.
    This allows you to easily share your Account information with others as needed.

    There are two ways to reset the Niyo Mobile App passcode.
    1. Open Niyo X App > On the login page, we have an option to reset the passcode.
    2. After logging in to Niyo X App > Click on Hub > Under Settings select security settings > Change the App passcode.

    If you need to block your NiyoX Debit Card, please follow the steps below:
    1. Tap on Bank at the bottom of the screen. This will take you to the Savings Account screen.
    2. Then, tap on the NiyoX Debit Card icon, which is located below the balance Card.
    3. Select Block, which is in the top right corner,marked in red.
    Please note that once the Card is blocked, it cannot be undone or unblocked. If you wish to continue using a physical Card, you can choose to apply for a Card replacement.

    To manage your NiyoX Debit Card limits and transaction modes, you can access the Card Settings page in the NiyoX App. Here's how to do it:
    1. Tap on Bank at the bottom of the screen. This will take you to the Savings Account screen.
    2. Then, tap on the NiyoX Debit Card icon located below the balance Card.
    3. Select Card Settings.
    From the Card Settings page, you can make the following adjustments:
    - Adjust Card limits for domestic transactions.
    - Enable or disable any mode of transaction, including tap and pay.
    This allows you to customise your card's settings according to your preferences and security needs.

    Once you have logged in to the NiyoX App, you will be able to see the chat option on the top right of all the screens.

    We are sorry to see you go!
    Here are the steps you need to follow to close your Account:
    ● You will need to visit your nearest Utkarsh Small Finance Bank branch.
    ● After successful submission of the Account closure form, your request will be registered.
    ● Please be patient while we process your request. You can reach out to us in case of any further queries. We are always here to assist you.

    We are keeping it very simple. There are absolutely no charges for the minimum balance requirement. Also, you can visit Click here to review the other scheduled charges.

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