Interest payout

How is interest amount is paid. Monthly or quarterly… and what interest i will get if i maintain balnce just over 1 lakh… which part will fetch 7% … whole amount or the amount which is above 1 lakh… and what interest on just 1 lakh balance

And the debit card will have the no cost emi eligibility?

And what are the charges if i deposit or withdraw money online

Hey there! Welcome to the Niyo Community!

  1. 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.

  2. You cannot use the card to avail EMI services.

  3. There is currently no charge for depositing or withdrawing funds online.

Hope this helps! LK

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