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 āFixed depositsā 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 āIncrease limitā feature in the app. This boosted limit is designed for online payments and card transactions, but it cannot be used for ATM withdrawals.
Itās 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Please keep in mind that FD withdrawals typically take around 4-5 business days, and the withdrawn amount will be credited to your Global Savings account.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 weāre 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. Weāre 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 donāt hesitate to reach out.
Cheers!!
Hi,
Iāve recently signed up for the Niyo Global Credit card and wasnāt unaware thereās 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!
Weāre 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 doesnāt have the option to reduce your credit limit once itās 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 AMOUNTā¦LIKE IF THE AMOUNT IS DEPOSITED IN THE ACCOUNT SHOWN IN THE CARDā¦HOW 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 shouldnāt 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. Weāre currently looking into this to provide you with an update as soon as possible.
Rest assured, weāre 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 couldnāt 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 youāre experiencing . This will greatly assist us in thoroughly investigating the issue.
Hereās 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 weāll follow up on it promptly.
Thank you for your patience, and we look forward to assisting you further.