Niyo IDFC First Bank Savings Account Registration

Hello guys,

Niyo IDFC First Bank registration is restarted. Those who are interested can enrol now.

NB:- Now we have to make an initial transfer of ₹10,000 in order to complete the registration. This is mandatory now. Previously this was not mandatory. Also no mention on when we can withdraw this amount also should this amount to be maintained as MAB.

Waiting for confirmation from Niyo.

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Hey Alan! In order to open an account, you’ll need to complete an initial transfer of ₹10,000 to IDFC FIRST Bank. This deposit will be credited into your account as soon as it is created so you can start experiencing our high 6% interest rate right away.

We have this system set up to ensure that we’re onboarding customers who are truly interested in our product, so that we can provide the best possible service.

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@Suryashashank Hi, could you please tell when I can withdraw this ₹10,000? Also should I maintain MAB of ₹10,000? Awaiting for your specific answers to above queries. Thanks.

Hey Alan! The ₹10,000 amount is transact-able at your convenience. As informed, this is a zero balance savings account. VS

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Check the reply given by @lucky regarding MAB. He is saying that we need to maintain ₹10,000 as MAB, which means it’s NOT a zero balance account anymore!!!

What is the reality? Totally confused now.

Apologies for the confusion! The accounts created from 1st September’20 are entitled to maintain the monthly average balance.

Hi @Suryashashank

Thanks for the clarification.


Why can’t I open a Niyo account? I registered for this account in March/April, still I’m getting an error, refer to the screenshot. This is not fare, also from 1st September account minimum maintenance policy will be changed. Not getting any proper reply from customer service.


I made my account today and on app while registering it showed me that I will have to maintain 10K monthly avg. balance. Its not 1 Sep yet. Kindly confirm.

Hi @Kartik_agarwal,

Could you please share that screenshot mentioning about MAB of ₹10,000?

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