In a initial day of niyo credit card launch everyone said we can withdraw 5000/- Rs fd once we place order and now when I’m trying to withdraw they said you’re credit card will be close if you want to withdraw money
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Hello, @Rokadeamit01!
Indeed, you can initiate the withdrawal of your FD at any time through the Niyo Global app. Please note that breaking the FD will lead to the automatic closure or blocking of your card. However, I’d like to reassure you that we are working with the bank to introduce a feature that will allow you to reapply for both the FD and credit card. We’re making progress, and this feature will be available soon! 
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is this feature available now?
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Hey @Saransh_Bagdi!
Yes, you have the flexibility to reapply for the card, even if you’ve previously broken the FD or closed the card.
If we recreate the FD and reapply for the card, will the card number remain the same or will it be issued as a new one? Also, what’s the typical processing time for this procedure?
Hi @shashankjha23,
If you close the entire existing FD, your Niyo SBM credit card will be blocked. However, you do have the option to reapply for the Niyo SBM credit card by creating a new FD. It is highly unlikely that you will get the same card number; a new card number is generally issued whenever a card is reissued. This is done for security reasons and to prevent any lingering issues with the old card.
As for the processing time, it is quite quick. Once you successfully create the new FD, the virtual card is generated immediately. The physical card delivery typically takes 3-5 business days after approval. This timeframe can vary depending on your location.
Can we apply for fd closure even when card payment is pending? Will it be auto settled from fd amount and rest will be refunded?
Hi @mayur_singh_taunk ,
If you wish to close your Fixed Deposit (FD) while having a pending card payment on your Niyo SBM credit card, the outstanding amount will be automatically settled from your FD. The remaining balance, if any, will then be refunded to you. Please ensure that you have not utilized more than 90% of your FD to facilitate this adjustment. If you have any further questions or need assistance, feel free to reach out. We’re here to help!
Thanks
Thank you for the info… Also wanted to know if there is option to increase or decrease FD amount? Or it will be fixed once after setting for first time?
Hi @mayur_singh_taunk ,
Unfortunately, you cannot decrease the FD amount once it’s set. However, you can increase the FD limit. Note that the FD can only be withdrawn in full, not partially. For example, if you have 3 FDs totaling Rs. 50,000, you must withdraw the entire amount. Please refer to the attached PDF for detailed steps.
Many Thanks
