About 7% interest rate

Please explain the details about the interest rate.
Is it all the time same or there is a constant?

Hey Partha! It’s a progressive interest rate. You will be earning 3.5% of interest p.a. on your first 1 lakh balance. On amounts above ₹1 lakh, you will be earning an interest of 7% p.a.
Interest will be calculated based on your daily EOD balance and credited to your account on a quarterly basis. LK

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You guys should also provide the virtual card because many people like me don’t want to physical card because they don’t want to give the card charges because not everyone can afford because card charges is very high they don’t use the Card that much also

And many I think all and maximum banks are now giving virtual card so that consumers can get the benefits of having cards and also they cannot have to face the Card charges. And also if the customer wants the physical card then they can order the same physical card. @Lucky @Aswathy_Nambiar @KshitiVyas

Hi Sidhant,

You get a virtual card with NiyoX as soon as your account is created. Post biometric KYC, we’re sending you a free of cost physical debit card as part of our promotional offer. The best part is you get to choose between two design options.

I know that but free for just one year after that you’re taking charges Stop taking charges because in that all we can use for 1 year and then we close the account so that is your loss not our either give free for lifetime or let us choose that we wanted the physical card or virtual card post Full KYC done by biometric.

@Mrigank @Lucky @Aswathy_Nambiar @KshitiVyas

Hey Sidhant! We have made a note of your feedback. Though we currently don’t have an option for you to choose if you need the physical card or not, you can deactivate anytime before next year’s fee is levied. Also, in all probability, the fee would be anyway waived off based on some usage/account balance criteria which we will announce in next few months, so please rest assured. LK