Why the Virtual Debit Card? Is it mandatory to get a physical debit card?

Once you successfully onboard Niyo Global by SBM, you are provided with a Niyo Global VISA Signature ‘Virtual’ Debit Card which is associated with your zero balance savings account. The transaction limit for the virtual debit card is ₹7,50,000 per day and it can be used only for online transactions.

To experience the full range of features offered by your account, you’d need your physical card. With the physical card, you get to travel around the world in style and relax at select Indian airport lounges for free while you wait for your flights! Get complimentary airport lounge access with this card for 4 visits per year (1 per quarter). Also, with this contactless “Tap & Pay” card, you need not swipe to pay for any POS transaction of up to ₹5,000 .

Do note that in order to request for a physical debit card, an initial deposit of ₹5,000 is required while ordering the card. This amount reflects in your savings account balance and will be a part of the amount on which you can earn up to 5% interest p.a.

Hey team;
In case I don’t want to apply for the physical debit card, and just keep using the virtual one, will I still be charged the annual fee for it ?
TBH, I don’t have a requirement for a physical card, and am happy with the virtual one for online transaction; hence want to know if I will still be charged the annual fee even for this.