Thank you for expressing interest in our products.
Choosing the right card for your international transactions is in your hands, and we have options tailored to your preferences. Currently, Niyo offers two debit cards and one credit card for international use: Niyo Global DCB (Debit card, 0 balance Savings account), Niyo Global Equitas debit card (0 balance Savings account), and Niyo Global Credit card (Secured credit card FD backed, in partnership with SBM bank).
All Niyo Global cards stand out with ZERO FOREX markup on international transactions and provide complimentary lounge access at Indian international terminals (4/year and 1/quarter). Additionally, we offer lounge passes for international lounges abroad, subject to specific criteria.
Crucially, Niyo Global cards come with no joining fee, annual charges, or hidden fees. For an in-depth product comparison, please visit: https://niyo.me/Niyo-products-comparison.
Regarding the Niyo Global DCB debit card (Savings account), it’s important to note that a 20% TCS deduction occurs with each transaction. However, if your spending stays under ₹7 lakhs, the deducted amount is promptly refunded within 2-4 hours on the same day. Even if your international spending exceeds ₹7 lakhs, you can reclaim the refund during your Income Tax Return (ITR) filing.
For more information on TCS on International Spends with Niyo Global, check out our blog: https://niyo.me/tcs_niyoglobalcards.
Excitingly, we are soon launching the Niyo Global Unsecured Credit Card in partnership with the Federal Bank, expected to be available before the end of the year. Stay tuned for a detailed reveal of its features and benefits in the coming weeks.
For the fees associated with each card:
- SBM credit card: ₹500 or 2.5% of the transaction amount, whichever is higher + GST
- Equitas debit card: ₹499 inclusive of tax
- DCB debit card: ₹300 + GST
Please be aware that the bank whose ATM you use may charge an additional fee, and unfortunately, we are unaware of these charges.
Thanks again for your interest.