Niyo Global Credit Card FD closure

Support & Troubleshooting
1

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

1 Like
2

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:

  1. You can create multiple Fixed Deposits (FDs) using the funds in your savings account by accessing the “Fixed deposits” option within the credit card section of the app. The total value of your FDs determines your credit card limit.

  2. Alternatively, you can temporarily enhance your credit limit by using the ‘Increase limit’ feature in the app. This boosted limit is designed for online payments and card transactions, but it cannot be used for ATM withdrawals.

It’s 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:

  1. Navigate to the “Credit Card” section at the top of the screen.
  2. Select “Fixed Deposits” from the settings menu.
  3. Pick the specific FD you wish to withdraw and click on “Close Credit Card & Withdraw FD” at the bottom.
  4. Carefully review the withdrawal details and confirm the transaction.

Please keep in mind that FD withdrawals typically take around 4-5 business days, and the withdrawn amount will be credited to your Global Savings account.

3

And yes, currently, once you break the FD, your card will be automatically closed/blocked. But we’re 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. :slight_smile:

4

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?

1 Like
5

Hi @Adit_patel,

Welcome to the Niyo Community! :raised_hands:

The features you mentioned have been rolled out to a selected group of users as part of our initial rollout. We’re 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 don’t hesitate to reach out.

Cheers!! :slightly_smiling_face:

2 Likes
6

Hi,

I’ve recently signed up for the Niyo Global Credit card and wasn’t unaware there’s 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!

7

Hi @himanshub16,

Welcome to the Niyo Community! :raised_hands:

We’re 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. :tada:

Right now, the app doesn’t have the option to reduce your credit limit once it’s 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! :slightly_smiling_face:

1 Like
8

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 AMOUNT…LIKE IF THE AMOUNT IS DEPOSITED IN THE ACCOUNT SHOWN IN THE CARD…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.

9

Hey @Ushasri_Balla

This shouldn’t 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. We’re currently looking into this to provide you with an update as soon as possible.

Rest assured, we’re committed to resolving this for you and will keep you posted every step of the way. Thank you!

10

Hey @Ushasri_Balla

We tried reaching you on your registered mobile number ending in ******5660 :telephone_receiver:, but unfortunately couldn’t 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 you’re experiencing :calling:. This will greatly assist us in thoroughly investigating the issue.

Here’s how to send us a direct message :raised_hands::

  1. Click on our profile icon.
  2. Select “MESSAGE” :email:.
  3. Enter your details in the message body.
  4. Attach any relevant screenshots by clicking the upload icon :paperclip:, and then click “Send 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 we’ll follow up on it promptly.

Thank you for your patience, and we look forward to assisting you further.

11

Ticket no. 162899: I liquidated an FD 10 days ago and it’s still showing in progress. I am unable to pay my credit card bill because of this. SBM bank said they’ve already closed the FD so where is my money?

12

Hi @NIYOCOMM20250509BHQ2,

Welcome to the Niyo Community! :raised_hands:

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.

13

Can you give me a definitive date for a resolution? I need to pay my credit card bill in a few days.

14

Hey @NIYOCOMM20250509BHQ2

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.

15

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 don’t worry—rest assured, we’re here to ensure your issue is addressed as quickly as possible.

16

Hi @NIYOCOMM20250509BHQ2,

Thanks for your time over the call. We’re 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. We’re happy to help! :blush: :light_blue_heart:

17

Hi, yes this issue was resolved but now I am facing the same problem with another FD. Please look into the matter.

18

Hi @NIYOCOMM20250509BHQ2,

We’re sorry to hear that you’re facing the same issue again. We understand how challenging this can be and sincerely apologize for the inconvenience. We’ve taken note of it and are getting this checked—please allow us some time to look into the matter. We’ll keep you posted with an update.