Niyo DCB Savings bank is Zero balance account and there are no charges. But you hide face that DCB debit card (which is a part of savings account) has 500+gst charges for debit card annual charges, if AQB of 5000 is not maintained in Niyo DCB savings bank
How come savings account have no charges for not maintaining AQB or no requirement of AQB for Niyo DCB savings account, but debit card by niyo dcb which falls udner Niyo DCB savings account has annual debit card charges of 500+gst if AQB 5000 is not maintained in Niyo DCB Savings account. Isn’t your earlier statement savings bank has no charges isn’t misleading? please answer
Further, I had a Fixed deposit with DCB and Niyo DCB doesn’t consider Fixed deposit of Dcb for AQB. you are reluctant and making people tied to place ateast 5000 in savings DCB. please clarify why you don’t consider AQB of Fixed deposits for not levying annual charges for niyo dcb debit card
In addition there is no clarity on maintaining AQB 5000 for no charges for niyo dcb for any one quarter or for all four quarters. Can Niyo clarify why is this
I am reaching out to inform you that if you have any queries or require assistance, you can email our in-app support team at global@goniyo.com. Our dedicated team is committed to providing you with prompt and effective assistance to address your concerns at the earliest.
Please feel free to reach out to them directly, and they will be more than happy to assist you.
Thank you for reaching us ! As per SBM Bank, the AMC (Rs. 423 + GST) will be applicable only from July 2025. However, this charge will be waived if you maintain an average balance of Rs. 5,000 in the three months preceding your account anniversary.
For example
1.If your account was opened in September 2024, maintaining Rs. 5,000 as an average balance in June, July, and August 2025 will waive the fee.
2.If your account was opened in or before July 2024, the average balance for April, May, and June 2025 will be considered.
Additionally, if you hold a Niyo SBM Secured Credit Card, the AMC will be waived under the same conditions. You need to maintain either an average balance of Rs. 5,000 or have a minimum FD under the SBM Credit Card in the 10th, 11th, and 12th months before your account anniversary. Maintaining either one is sufficient.
We hope this clarifies your query. Let us know if you need any further assistance!
Ok thanks
Can you pls help me with few more query -
1 - What is Niyo SBM Secured Credit Card? Is this something FD based credit card? How to avail this
2 - Is there option to block debit card to avoid debit card fee? Or just to have virtual debit card instead of physical because that is become chargeable.
3 - Kindlly share me updated SOC
Thanks for your time over the call. We hope that we were able to clarify your doubts regarding the AMC on the SBM account.
As discussed, the AMC (Rs. 423 + GST) will be applicable only from July 2025. However, this charge will be waived if you maintain an average balance of Rs. 5,000 in the three months preceding your SBM account anniversary.
For example:
1.If your account was opened in September 2024, maintaining Rs. 5,000 as an average balance in June, July, and August 2025 will waive the fee.
2.If your account was opened in or before July 2024, the average balance for April, May, and June 2025 will be considered.
Additionally, if you hold a Niyo SBM Secured Credit Card, the AMC will be waived under the same conditions. You need to maintain either an average balance of Rs. 5,000 or have a minimum FD under the SBM Credit Card in the 10th, 11th, and 12th months before your account anniversary. Maintaining either one is sufficient.
! As per SBM Bank, the AMC (Rs. 423 + GST) will be applicable only from July 2025. However, this charge will be waived if you maintain an average balance of Rs. 5,000 in the three months preceding your account anniversary.
