What the FUTURE holds for NiyoX

Hi Everyone,

I recently got onboarded to NiyoX and I would definitely say the product is one of a kind. So far so good, except for a few reschedules and a bit of a delay in completing the biometric KYC.

What I am wondering is about the future of NiyoX. When I opened the account, I actually read through many user testimonials about Niyo’s previous banking venture, the Niyo-IDFC. Users quickly jumped into the bandwagon, as they were offered a sweet 7% interest rate at first. Then came the cut to 6% and eventually users had to leave Niyo and use the IDFC bank app to access their account. Now, there has been another interest rate cut done by IDFC to 4.5% and the users are pretty much on their own with IDFC. Not much of a support from Niyo.

What about NiyoX? Given the fact that it is currently working in association with Equitas, which is a small bank, what happens if NiyoX severs ties with this bank? Will the users be left in the middle of nowhere? Then comes the advertised 007 account. i.e. 0 charges and 7% interest rates. What happens when Equitas cuts their interest rates? Will NiyoX be still be able to provide the advertised 7% interest, which might be the prime reason for many people to start the account at first place.

I am curious about the outcome. If NiyoX goes the same route as Niyo-IDFC, future looks bleak. I was just checking out the Equitas Bank’s own phone banking app. Super slow, not so intuitive UI and a horrible mobile banking app in all aspects. So, the answer to this query might be a deal breaker to many people in the platform.

Then there’s another route that NiyoX could possibly take. What if the platform keeps all the users intact and could still migrate to a different partner bank? I am not sure how practical it is to implement this in the back end. But, that’s also a possibility that I am not ruling out!

I hope someone from the NiyoX team could shed some light on the above points. At the end of the day, transparency is what everyone expects from your team.

Sorry for the lengthy post. I am just a curious user.

Best regards,


Hey @AjithT ! Thank you for your detailed feedback about NiyoX.
We’ve actually answered similar kind of questions :sunglasses:

Quick Reads>

  1. Theoretical scenario - #2 by Deepak
  2. Niyo Partnered Bank - #2 by ashrithjain

If you do need further help, feel free to reach out again!


Hi @ashrithjain,

Thanks for your answer. But, as I said in my previous post, I expect a bit more transparency from NiyoX team, than the generalized responses given in the above linked answers.

I could see that you are an intern there. So, it would be great if you could may be redirect these queries to someone who might be better equipped to give a more direct answer.

I will restate the queries again:

  1. Users are currently onboarded with an advertised 7% interest rate for balances above 1 lakh. This is one of NiyoX’s major highlights. The question is whether you guys will stay true to your word in case Equitas bank decides to cut the rates?

  2. If NiyoX stops partnering with the bank, what exactly will happen to the users? Yes, I understood that Niyo team has learned from their previous ventures from the linked posts in your response, and possibility of that happening is apparently low. Still, what if?

Looking forward to hear back from you.



Hi Ajith,

Firstly, I’d like to ensure that at Niyo, starting from an Intern to the CEO himself, we all imbibe the values the company stands for, equally. :slight_smile:

Now getting to your questions -

  1. As of now, or in the immediate future, there are no such changes happening, the interest rates will continue to be 7% above Rs 1 Lakh.

  2. We expect this to be a long-term partnership with no roadblocks that will affect our customers. However, if something like that were to happen, our customers will get to enjoy all the services directly through Equitas Small Finance Bank.

Hope this helps, happy weekend!


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