We know you are loving the industry-best interest rate of 7% p.a* with NiyoX, but here’s something to make your savings experience even better.
Introducing NiyoX ‘Invest the Change’
Ever felt guilty because you are spending all your money and saving none?
No more! You can now spend guilt-free with NiyoX because each time you spend, you can set aside your spare change which then gets invested in a mutual fund of your choice.
You can think of it as your digital piggy bank, only much better since it helps you not only save but also grow your money further. This micro-investment solution lets you start small and steadily build a habit of saving and investing effortlessly.
And unlike a SIP, there is absolutely no commitment of any monthly amount!
How does it work?
‘Invest the Change’ allows you to round up all your spends (food order, cab fares, subscriptions, fund transfers etc.) made with your NiyoX account to the next 10, 50, or 100 and save the spare change. All debits in your savings account count as spends - these include your transactions made in-person at a store, online, via UPI, or even via fund transfers. The spare change that gets collected each time you spend, keeps accumulating and when it crosses ₹100, it gets auto-invested in a pre-selected mutual fund of your choice.
How does the rounding up work?
To give you an example, if you spend ₹215 for a cab ride and have opted to round up your purchases to the next 50, you would have a spare change of ₹35 that will start collecting towards your investment pool. With subsequent purchases, as spare change keeps getting accumulated and reaches ₹100, the amount will get automatically deducted from your NiyoX savings account and get invested in the mutual fund scheme you would have chosen earlier.
There are no deductions before the accumulated change crosses ₹100.
Watch this video to better understand this feature:
Get into a Save.Spend.Invest routine in just a few clicks:
Step 1: Tap ‘Investments’ on your NiyoX app and click on ‘Invest the change’
Step 2: Either pick a mutual fund from our carefully curated recommendations or click on “See all eligible funds” to check out the complete list of funds.
Step 3: Complete your KYC and Auto-Pay, if not done already.
Get started now to take the first steps towards regular investing.
Happy spending !
P.S. Do check it out and let us know your feedback in the comments below. If you can’t see the feature yet, make sure you have the latest app installed.
So now what are you waiting for? Visit your NiyoX app and Turn It ON: Click here