Fixed Deposits (FDs) Now Live on the Niyo App - Grow Your Money Safely

Announcements & Updates
, , , ,
1

Heyy Travellers, :smiley:


1536×1024 90.8 KB


Looking for a safe way to grow your money with assured returns? Good news… you can now book Fixed Deposits (FDs) directly in the Niyo app through two banks: DCB Bank and SBM Bank with returns up to 7.5% p.a. :tada:

Whether you’re saving for your next trip, parking extra funds after returning from one, or simply looking for higher interest rates, FDs in Niyo give you flexibility, safety, and great returns.

Where to Find FDs in the Niyo App

You can now access FDs easily via:

  • Hub Section
  • Quick Links

:backhand_index_pointing_right: Prefer direct access? Click here:

:money_bag: DCB Bank Fixed Deposit (FD) – Key Benefits

  • Minimum deposit: ₹10,000
  • Flexible tenure: 14 days to 10 years
  • Earn up to 7.2% p.a. interest — among the best in the market
  • 100% safe with assured returns
  • Instant booking & easy withdrawal

:pushpin: Check latest DCB FD interest rates

:money_bag: SBM Bank Fixed Deposit (FD) – Key Benefits

  • Minimum deposit: ₹5,000
  • Flexible tenure: 6 months to 10 years
  • Earn up to 7.5% p.a. interest — among the best in the market
  • 100% safe with assured returns
  • Instant booking & easy withdrawal

:pushpin: Check latest SBM FD interest rates

:red_question_mark: Frequently Asked Questions (FAQs)

:small_blue_diamond: Do I need to book an FD to use my Debit Card?

No, not at all. Your DCB or SBM Debit Card works independently. FDs are an optional investment product.

:small_blue_diamond: What makes SBM/ DCB FDs a good choice?

  • Higher-than-average FD interest rates compared to top banks
  • Flexible tenures so you can plan short-term or long-term
  • Safe, secure, and easy to manage directly from the Niyo app

:small_blue_diamond: What is the minimum deposit & tenure?

  • DCB FD: ₹10,000 | 14 days minimum
  • SBM FD: ₹5,000 | 6 months minimum

:small_blue_diamond: When do I get the interest?

  • Interest is paid at maturity.
  • If you don’t close your FD, it is auto-renewed for the same tenure at the prevailing rate.

:small_blue_diamond: Can I break my FD before maturity?

Yes, you can! Both SBM and DCB allow premature closure.

  • SBM FD: Directly from the app under the SBM FD module. 1% charge on interest earned.
  • DCB FD: By contacting DCB Bank support. 0.50% charge on interest earned.

:small_blue_diamond: Can I book multiple FDs?

Yes :white_check_mark: You can even name your FDs for better tracking.

:glowing_star: Why Niyo Members Love FDs

Many of our members use FDs to:

  • Grow their unused funds after returning from an international trip :airplane:
  • Save for their next big travel plan :globe_showing_europe_africa:
  • Keep money safe while earning attractive interest
  • Bonus: Booking an FD above ₹5,000 waives AMC charges for your Niyo card - so you earn and save! :white_check_mark:

:light_bulb: Tip: You can book FDs with both DCB and SBM to maximize flexibility and returns. :chart_increasing_with_yen:


With just a few taps, your money works harder for you - safely and securely.

:speech_balloon: Over to You!

Have you tried booking an FD on Niyo yet? Share your thoughts below, and let’s help each other make smarter money moves! :rocket:

3 Likes
3

“Bonus: Booking an FD above ₹5,000 waives AMC charges for your Niyo card - so you earn and save! :white_check_mark: “

Is this information correct?
Is it also applicable to DCB Bank debit cards?

4

Hey @SoumyadeepPaty

Welcome to the Niyo Community! :hugs:

Great question! :blush: For SBM accounts, the AMC is ₹423 + GST, and it does get waived when you maintain an AMB of ₹5,000 in your savings account or through a Fixed Deposit during the 3 months before your account anniversary. :check_mark:

As for whether this applies to DCB Bank debit cards, please allow us some time to check this with the concerned team. We’ll get back to you with the correct information soon. :folded_hands:

5

Hey @SoumyadeepPaty ,

We’re absolutely thrilled to share great news! :tada: By simply booking a lien above ₹5,000 on your Niyo DCB Bank card, you become eligible for a complete waiver of the AMC charges.

6

What does ‘booking lien’ mean for DCB bank?

If I simply open one FD more than 5000 rupees, the amc of DCB niyo debit card is waived off or not?

7

Hi @SoumyadeepPaty,

Please note that a lien is simply an amount set aside in your DCB Savings Account as collateral for your secured credit card. It’s not debited or invested — it just remains on hold in your account while still earning interest.

Your credit limit is 90% of the lien amount.
For example, if you set a lien of ₹10,000, your available credit limit will be ₹9,000.

The lien/unlien process is quick, seamless, and completely reversible anytime. Think of it as keeping a portion of your money “set aside” to power your card, rather than locking it in a fixed deposit.

You can increase or decrease it anytime after the card is created, as long as the minimum lien of ₹5,555 is maintained.

If you choose to block/close the credit card, the lien will be removed automatically. However, once the card is closed, it cannot be reissued.

Regarding AMC:
As long as you maintain the secured credit card with the required lien, there is no separate AMC requirement for the DCB Niyo Debit Card since your overall relationship balance is considered.

If you need help adjusting the lien or have more questions, feel free to ask!