New Feature Launch✨ -- Track AMB in-app

Hey all,

Introducing, a cool new feature to track your Average Monthly Balance (AMB) within the NiyoX app. Phew,:sweat_smile: you don’t have to do the math anymore.:heavy_plus_sign::heavy_division_sign:

You might wonder🤔 what this feature does and how it might be of help to you. Here’s a quick rundown:

What is AMB?

AMB is the average monthly balance in your savings account. It’s calculated by dividing the sum of all the daily closing balances by the number of days in any given month.

What are the benefits of maintaining an AMB?

We love🤗 to see you all getting the best out of your NiyoX account.

Your daily closing balance decides how much interest you earn on your savings. Maintaining a consistent AMB ensures that you get the best interest on your account balance. Keep saving more📈 to earn more at the best👌 interest rates in India!

NiyoX Savings Account Interest Rates

(w.e.f 21 March 2022)

Up to ₹1 lakh- 3.5%
₹1 - ₹5 lakhs- 6%
₹5 - ₹2 crores- 7%
Above ₹2 crores- 5.5%

(these are daily closing balances)

How to check AMB in the NiyoX app?

  1. On the bottom menu of your NiyoX app, tap on Savings > Avg. Monthly Balance
  2. You can see the AMB for the current month as well as your AMB history year-wise

Checking AMB in-app is a freshly introduced feature. We’ll bring you more updates shortly as the feature evolves.

Best,

Team Niyo

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