To much of restricting me. 3 main issues I'm facing

I don’t know how many of you facing the same issue. But this makes a really bad experience form.

  1. No Agent is coming for doing KYC. waiting for the last 2 weeks.
  2. As mentioned 7% interest I have added all amount till the limit present.NOW the new rule first 1lakh is 3.5% per annum, And I don’t have KYC overall I will get only 3.5% Where I don’t want to park my amount. THIS CHANGE IS REALLY MAKING TO CLOSE ACCOUNT INSTEAD OF ADD MORE MONEY.
  3. UNABLE TO WITH DRAW AMOUNT at max 5000 only perday through all types (IMPS/UPI/NEFT)… WHILE adding no issues. :angry: :angry: :angry: :angry: :angry:.

Hi @srokkam ,

Firstly Welcome to the Niyo Community!

We sincerely regret the hassle experinec.

(1/3) We shall escalate this to our concerned team and someone from our biometric team will get in touch with you today. Rest assured we are taking your KYC on the highest priority.

Herewith interest rates for minimum KYC Account:
► Balance: Up to ₹1 Lakh
► Account Validity: Up to 12 months only
► Interest Rates: 3.50%

Overall Interest Rates for full KYC Accounts:
► 3.5% up to ₹1Lakh
► 7 % from ₹1Lakh to ₹2Cr
► 6% above ₹2Cr


Card Transactions, Fund Transfer, and UPI limits for minimum KYC account:
► Total Debit Transactions (ECOM+UPI+Fund Transfer) - ₹20,000/month
► First 72 hours post account creation: ₹2,000/day or 5 Transactions/day
► After 72 hours post account creation: ₹5,000/day or 10 Transactions/day

For Full KYC Accounts
► Balance: No constraints
► Account Validity: No constraints

Hope this helps!

What are the constraints on kyc account for fund transfer

You people didn’t mentioned this while opening bank account It mentioned as 7% for all. now youre saying only 3.5!!. Does it sounds like genuine !!! What is the assurance in next month you again say 4% for 2lakhs and rest 7%

No there isn’t.


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sorry please explain, Not there… It was there like 7% initially. seriously this fells like back-stabbing for. mee. Showing 7% and then with in 10 days you have changed to 3.5% and then im unable with draw funds.

See 5000 limit means I need to do daily transactions like 20 days to with draw…Please help me in closing account…

Hey Srikanth! Thank you for your time on call. As we discussed, we just want to make sure and clarify that we have NOT hidden any information from our customers, be it regarding the interest rate or the limits on Minimum KYC accounts.
For instance, you can refer to this link: “#DecodeBanking > How is interest-rate on savings accounts calculated?”-which was posted on 24th March(2 months before your account creation date) and very clearly addresses the break-up and guides you on the calculations as well.
We’d also like to highlight, that our website: also clarifies this bit.

If you referring to this domain:; there as well, we have added this information for our customers. PFB snippets indicative of the same:
The same page, where it gives you the option to open account, this is mentioned:

Lastly, for limits associated with minimum KYC accounts, the limits are very clearly mentioned too. Here are the link and snippet to take you there:


I have opened my account on this page.!!! if you show this to anyone… they believe its 7%…

now you’re saying 3.5%

As you stating “No wonder some call it “007 banking”!”… at lease you could have mentioned 3.5 for your 1st lakh there it self. I coundt have wasted my 2 weeks

upff.!!! whereis account open button and where this t&C hiding atlast of the page.!!! verry cheap trick.!! I pity my self for opening account

The star(*) mark there is an indicative of information that does state at the bottom of the page right next to “open account” option, “*For balances above ₹1 L, up to ₹1 Cr in your NiyoX Equitas Small Finance Bank Savings Account, T&C Apply.”
We have made a note of your feedback and we will certainly try to ensure that we present the information more transparently. LK

1 Like

Ok, Lucky…!! I’m so unlucky while spending 2 hours verifying websites I didn’t get all this info.!! Even I don’t know this is a kind of trick played by you. it’s done a pretty good job, I don’t know how many are facing this 3.5% issue(Unknowingly opening account later realizing that)…!!!

Beyond all this, I need only one big help ie., to withdraw all my money as per your great plan it will take 20 days. but I want it to happen in 2 days. what I need to do.!!

After KYC I many get back.!! As U mentioned if it takes 2 days well and good.!!

I have been using niyoX for a month and still I am not able to do transaction of more than 5000 per day! Why is that?

Hey @Shubham_Kharbanda , have you completed your Full KYC?

this bank is total backwash!!!

@Lucky please find my response .! and I hope for better resolutions.


Hi team, @Vinay_Bagri,

Day by day. my trust on the bank is reducing. Please refer to the previous one that is not cleared. and also I decided to draw 5000 every day. I have succeeded withdrawn 15k in the last 6 days. and for the last 3 days, my transactions are getting failed without any reason…!! why this is happening?

To recap my issues,

  1. REG KYC no one is appearing, I was getting calls from the Niyox team to ask me to reschedule for tomorrow. definitely tomorrow we will do. but not one will show up.

  2. Unable to do transactions from the last 3 days.

  3. Not an issue, Just saying. Felt amazing when saying 7% in a saving account gave a thought of opening for my parents, started opening my account later I got realized that 1st 1 lakh is 3.5 and the on avg I will be getting 5.2 to 6 on increasing lakh by lakh. Which is very disappointed (for me). so changed my mind, Even seeing this transaction limit and banking experience I felt very bad.

If @Vinay_Bagri sir, if your reading this… Thanks for your time…!! I have seen so many are dispositioned on not showing clearly about 3.5% on 1st lakh and daily transaction limit which are not mentioned clearly as your showing 007 everywhere. and the banking web application is not so clear as scrolling is not working on many pages when download transaction statement password is mentioned.!! There might be many more bugs.!!

HI @Bansari, you have merged my new topic here. No one is responding. can you please assign some one

Hi @srokkam ,

(1/2) Your biometric issue has been escalated to the team and we are considering this at the utmost priority. Would request you allow us time till today evening for us to provide you with an update on biometric KYC

(2/2) You can open the statement file by entering first four letters of your name(all small) followed by the date of birth in DDMMYYYY format.

Your patience is highly appreciated.


Hi @srokkam ,

Your KYC would be done by tomorrow i.e 12th June 2021.


@Bansari I didn’t asked for statement file password. I said I’m not able to do transaction of 5k from last 5 days. any how your restricting me to 5k/day even that one also is not allowing