Hello,
I understand we need to create a FD to extend credit card limit. May I know what is the procedure to close this FD ? Can I again create a new FD when in need ?
Thanks
Hello,
I understand we need to create a FD to extend credit card limit. May I know what is the procedure to close this FD ? Can I again create a new FD when in need ?
Thanks
Hello @neha_prasad! Thank you for your inquiry!
Let me break it down for you. You have two options to increase your Niyo Global Credit Card spending limit:
You can create multiple Fixed Deposits (FDs) using the funds in your savings account by accessing the âFixed depositsâ option within the credit card section of the app. The total value of your FDs determines your credit card limit.
Alternatively, you can temporarily enhance your credit limit by using the âIncrease limitâ feature in the app. This boosted limit is designed for online payments and card transactions, but it cannot be used for ATM withdrawals.
Itâs important to note that once you add funds to your credit card, those funds become a part of your credit limit and cannot be transferred back to your savings account.
For Fixed Deposit withdrawals:
Please keep in mind that FD withdrawals typically take around 4-5 business days, and the withdrawn amount will be credited to your Global Savings account.
And yes, currently, once you break the FD, your card will be automatically closed/blocked. But weâre in the process of working with the bank to make it possible for you to reapply for the FD and credit card. This feature will be available soon.
Is the feature of reapplying fd and activating same credit card again is available?
If I have multiple fd, can I withdraw any one fd which reduces my credit card limit and not completely block the card?
Hi @Adit_patel,
Welcome to the Niyo Community!
The features you mentioned have been rolled out to a selected group of users as part of our initial rollout. Weâre excited to announce that these features will be made available to all users within the coming weeks.
Thank you for your patience and understanding as we continue to enhance your Niyo experience. Should you have any questions or need further assistance, please donât hesitate to reach out.
Cheers!!
Hi,
Iâve recently signed up for the Niyo Global Credit card and wasnât unaware thereâs no option to pay and reduce the credit limit once it is increased.
Is there something I could do to pay the outstanding bill and then reduce my credit limit?
Thank you!
Hi @himanshub16,
Welcome to the Niyo Community!
Weâre excited to share that the feature to adjust your credit limit by withdrawing partial FDs is being rolled out to a select group of users and will be available to everyone in the coming weeks.
Right now, the app doesnât have the option to reduce your credit limit once itâs been increased. But you can definitely pay off your outstanding bill to keep your balance in check.
Feel free to reach out if you have any more questions or need further assistance.
Hope this helps!
When I go to close NIYO SBM FD IN NIYO APP, THE ACCOUNT NUMBER AND IFSC CODE are different FROM MY ACTUAL BANK ACCOUNT. I HAVE SENT MY CANCELLED CHEQUE TO THE NIYO MAIL. CAN YOU TELL ME HOW TO GET THIS AMOUNTâŚLIKE IF THE AMOUNT IS DEPOSITED IN THE ACCOUNT SHOWN IN THE CARDâŚHOW WILL I GET IT TO MY ACCOUNT WHERE I HAVE GIVEN THE CANCELLED CHEQUE. I AM STRUGGLING FOR 2 MONTHS TO GET MY FD AMOUNT.
Hey @Ushasri_Balla
This shouldnât have happened, and we regret the hassle it has caused. We understand your concern and are here to help ensure your funds are deposited correctly. Weâre currently looking into this to provide you with an update as soon as possible.
Rest assured, weâre committed to resolving this for you and will keep you posted every step of the way. Thank you!
Hey @Ushasri_Balla
We tried reaching you on your registered mobile number ending in ******5660 , but unfortunately couldnât connect. To help us assist you more effectively, could you please direct message us an alternate contact number?
Additionally, please send us a screen recording of the error youâre experiencing . This will greatly assist us in thoroughly investigating the issue.
Hereâs how to send us a direct message :
Alternatively, you may also reach us via email at global.escalation@goniyo.com. If you have an open ticket, please share the ticket number here, and weâll follow up on it promptly.
Thank you for your patience, and we look forward to assisting you further.
Ticket no. 162899: I liquidated an FD 10 days ago and itâs still showing in progress. I am unable to pay my credit card bill because of this. SBM bank said theyâve already closed the FD so where is my money?
Hi @NIYOCOMM20250509BHQ2,
Welcome to the Niyo Community!
We understand your concern regarding your FD closure. Please allow us some time. We will check your credit card details and will get in touch with you shortly.
Can you give me a definitive date for a resolution? I need to pay my credit card bill in a few days.
We understand your concern regarding the credit card bill payment through your existing Fixed Deposit. Please be assured that your request has been escalated on priority, and we are actively following up with the concerned team.
Any further updates will be communicated to you under the ticket ID 162899. We appreciate your patience and cooperation in the meantime.
Hi @NIYOCOMM20250509BHQ2,
Thank you for your time on the call. As discussed, we are actively following up with the bank to resolve your concern at the earliest. Please donât worryârest assured, weâre here to ensure your issue is addressed as quickly as possible.
Hi @NIYOCOMM20250509BHQ2,
Thanks for your time over the call. Weâre glad to inform you that the issue has been resolved. It would be great if you could confirm the same here and let us know if you need any further assistance. Weâre happy to help!
Hi, yes this issue was resolved but now I am facing the same problem with another FD. Please look into the matter.
Weâre sorry to hear that youâre facing the same issue again. We understand how challenging this can be and sincerely apologize for the inconvenience. Weâve taken note of it and are getting this checkedâplease allow us some time to look into the matter. Weâll keep you posted with an update.