There’s a lot of excitement in the air as we bring sassy updates for you this month – about NiyoX as a product and everything that’s been happening around it. Don’t miss out on the Fun Section, we’ve got some cool prizes for you to win.
Track Average Monthly Balance (AMB) In-app
Introducing, a cool new feature to track your AMB right within the NiyoX app. Phew, you don’t have to do the math anymore!
AMB is the average monthly balance in your savings account. It’s calculated by dividing the sum of all your daily closing balances by the number of days in any given month.
Your daily closing balance decides how much interest you earn on your savings. Maintaining a consistent AMB ensures that you get the best interest on your account balance. Keep saving more to earn more from your high-interest NiyoX account! Learn More
No more guess work!
Our in-house finance experts recommend that you shouldn’t STOP your SIPs during market volatility.
When the markets are in chaos, many investors go in to panic-mode and sell their investments, while others grab this opportunity and purchase more units.
With SIPs, you invest a fixed amount at regular intervals. So when the markets fall, you still buy more units for the same amount, than when they’re high.
Continue with your mutual fund SIPs even during adversaries. With every market fall, your SIPs will benefit from Rupee Cost Averaging (RCA) which will lower your acquisition cost. Rather than getting scared of market volatility, make the most of it. In the long run, the market bounces back after uncertain times and makes new highs as it has always done in the past.
Trending mutual funds
Curious about the mutual funds most NiyoX users invested in April 2022?
- ICICI Prudential Nifty Index Fund - Direct Plan - Growth
- Sundaram Small Cap Fund - Direct Plan - Growth
- Sundaram Global Brand Fund - Direct Plan - Growth
- ICICI Prudential Nifty Next 50 Index Fund - Direct Plan - Growth
- Nippon India Nifty Smallcap 250 Index Fund - Direct Plan - Growth
- Nippon India Growth Fund - Direct Plan - Growth Plan
- Aditya Birla Sun Life Low Duration Fund - Direct Plan - Growth
Where did NiyoX users spend?
- Around 2,00,000 users won rewards last month. Head to the Rewards section of your NiyoX app to check out the latest ones.
- The IPL fever has caught on, almost 50,000 users spent on Dream11.
- Guess what was the highest NiyoX card purchase in April? ₹8,00,000!
- Travel seems to be catching up! ₹1.23 crores was spent on fuel, and ₹7.33 crores on Ola and Uber.
- Ring ring! Almost 75,000 users spent on recharges alone.
- More than ₹2 crores was spent on food deliveries, with zomato being the prime choice of our users
- The dressing up game was strong - more than ₹25,00,000 was spent on beauty products and cosmetics.
Do you have the passion to make a change in the way India banks? Curious to know what it takes to become a Product Manager in the fintech space?
Well, it all revolves around your user, domain knowledge, empathy, industry insights, experiences, and as always knowledge is power.
Looking for book or web series recommendations? Here’re a few suggestions from Mrigank Shekhar, SVP Product at Niyo.
Books - Professional
Working Backwards: Insights, Stories, and Secrets from Inside Amazon
The Messy Middle: Finding Your Way Through the Hardest and Most Crucial Part of Any Bold Venture
High Growth Handbook
Books - Personal
Millenium Trilogy by Stieg Larsson
All books by Keigo Higashino
To Kill a Mockingbird
Shows I Binged on
The Family Man
Question of the month
What’s the newly launched feature on NiyoX that lets you track the highs and lows of your monthly account balance?
- Average Monthly Balance
- Accrued Monthly Balance
- Average Monthly Charge
Send in your answer to firstname.lastname@example.org . 5 lucky winners will win cool swag from us. Winners will be announced in our next newsletter.
Yay, here are the winners of our April quiz!
Krishan Kant Sharma
Congratulations to all the winners!
International travel on your mind? Have you checked out Niyo Global? Our latest offering comes with a zero forex markup card, free airport lounge access, and many more benefits that make it the best card for travelling abroad.
Folks, that’s all for this month. We’ll be back with more updates for you next month, same time, same place.
Enjoying the NiyoX app? Head to the Rate Us section in the menu of your app and share your experience with us. We’d love to hear from you!