Regarding closure of SBM Saving Account if required

I am interested in this Niyo Global SBM Card but…

I wanted to know if due to any reasons once I start using this card and later within one year I decide to close the SBM bank account and stop using the NIYO service, what would be the process to close the SBM bank account and also stop using the Niyo service.
Also, what would be the charges/penalty for that?

Do let me know about both the questions. Please share the official document source too if possible.

Thanks and Regards

Hi @manan,

You can write to us through in-App support with request to close your Niyo Global by SBM account.


Will there be any charges to close this SBM account within a year?
Will the process to close this account be entirely digital or will I have to go to the bank physically to get the account closed.

@manan ,

There will be no charges for account closure and you need not need to visit the branch for account closure it will be carried out digitally.