Niyo Global Credit Card – The Ultimate Card for Global Transactions

Feature

Description

Credit Card Network

Visas are accepted worldwide in over 200 countries.

Example: How Visa Network Works with Niyo Global Credit Card

Aisha is travelling from India to France for a business conference. She uses her Niyo Global Credit Card at a hotel in Paris, a local café, and an airport duty-free shop. Since Visa powers the card, it is accepted worldwide without any issues.

At her Paris hotel, she pays €500, which is converted to INR using Visa’s exchange rate.

She buys coffee for €5, and her transaction is instantly approved.

At Charles de Gaulle Airport, she made a $100 duty-free purchase, which was again processed smoothly without additional forex markup.

Key Takeaway:

Since Visa is accepted in over 200 countries, the Niyo Global Credit Card ensures seamless transactions worldwide, making it ideal for international travellers. 

Issuing Bank

SBM Bank India

Minimum Fixed Deposit Requirement

₹5,000, which determines the credit limit. 

Example: How the Fixed Deposit (FD) Determines the Credit Limit

Your credit limit is equal to your Fixed Deposit (FD) amount.

Example:

Rahul opens an FD of ₹5,000, which means his credit limit is ₹5,000.

Later, he increases his FD to ₹50,00, meaning his credit limit increases to ₹50,000.

Priya initially deposits ₹1,00,000 for a high credit limit but later reduces her FD to ₹25,000, meaning her credit limit adjusts to ₹25,000.

This system gives users complete control over their credit limit while earning interest on their FD! 

Interest-Free Period

Up to 45 days, provided previous dues are cleared.

Example: How the 45-Day Interest-Free Period Works?

 Amit, a travel blogger, purchased ₹10,000 on March 5 using his Niyo Global Credit Card. His billing cycle runs from March 1 to March 31; the payment is due April 10.

Since Amit made his purchase on March 5, his interest-free period extended until April 10 (36 days).

If he had purchased on March 25, his interest-free period would be shorter, only 16 days (until April 10).

No interest is charged if Amit pays the entire ₹10,000 by April 10.

If he only pays ₹5000, the remaining ₹5000 will attract 3% monthly interest (42.58% annually).

Key Takeaway:
 To maximise the full 45-day interest-free period, Amit should time his purchases early in the billing cycle and always pay the outstanding balance by the due date.

Grace Period for Bill Payment

An additional 3 days after the due date to make payments.

Example: How the 3-Day Grace Period for Bill Payment Works

 Neha’s Niyo Global Credit Card bill for ₹20,000 is due July 10. She forgot to make the payment on time but remembers it on July 12.

Since Niyo offers a 3-day grace period, she still has until July 13 to pay without incurring a late fee.

If she pays ₹20,000 by July 13, she avoids penalties.

If she pays on July 14 or later, a ₹150 late fee and 3% monthly interest (42.58% annually) will be applied to the unpaid amount.

Key Takeaway:

 The 3-day grace period is a helpful buffer, but paying before the due date is always best to avoid potential charges.

Credit Limit

Based on the Fixed Deposit (FD) amount held with SBM Bank.

Example: How FD Amount Determines Credit Limit

Sahil wants a Niyo Global Credit Card and deposits ₹10,000 as a Fixed Deposit (FD) with SBM Bank India. His credit limit is equal to his FD amount, so he gets a ₹10,000 credit limit.

After a month, Sahil needs a higher limit for an international trip, so he increases his FD to ₹50,000, meaning his credit limit increases to ₹50,000.

Later, Sahil decides he does not need such a high limit and reduces his FD to ₹20,000, meaning his credit limit drops to ₹20,000.

Key Takeaway:

Your credit limit is equal to your FD amount. You can adjust your FD to increase or decrease your limit at any time, giving you complete flexibility over your spending power! 

Forex Markup Fee

Zero, ensuring the best exchange rates with Visa.

Example: How Zero Forex Markup Works

 Rohan travels to the U.S. and purchases $1,000 using his Niyo Global Credit Card. Since the card has zero forex markup, he is charged only the Visa exchange rate with no additional fees.

If the Visa exchange rate is ₹83 per USD, Rohan pays ₹83,000.

A regular credit card with a 3.5% forex markup would have charged him ₹85,905 (₹83,000 + ₹2,905 markup fee).

Savings with Niyo Global Card: ₹2,905 

Key Takeaway:
 With zero forex markup, the Niyo Global Credit Card saves international travellers significantly on foreign currency transactions! 

Lounge access

The Niyo Global credit card offers one complimentary Lounge Pass per quarter when you spend ₹50,000 outside India using a single card. You can use the Lounge Pass at over 1,300 international airport lounges.

Example: How Lounge Access Works

 Sneha, a frequent business traveller, uses her Niyo Global Credit Card for purchases while on a trip to London. She spends ₹50,000 outside India using a single transaction on her card.

Since she met the spending requirement, she received one complimentary Lounge Pass for the quarter.

She uses the Lounge Pass at Heathrow Airport, enjoying free WiFi, comfortable seating, and complimentary food & beverages before her flight.

If Sneha spends another ₹50,000 internationally in the next quarter, she will earn another Lounge Pass.

Key Takeaway:

For every ₹50,000 spent abroad per quarter, you earn one complimentary Lounge Pass, valid at 1,300+ international airport lounges worldwide! 

ATM Withdrawal Limit

Based on the available credit limit and subject to fees.

Example: How ATM Withdrawal Limit Works

 Arjun, a frequent traveller, has a Niyo Global Credit Card with a credit limit of ₹1,00,000. While in Dubai, he needs cash and decides to withdraw ₹20,000 from an ATM.

Since ATM withdrawals are subject to fees, he is charged ₹423 + 18% GST (₹75.14) = ₹498.14.

His available credit limit reduces to ₹80,000 after the withdrawal.

If Arjun withdraws ₹50,000 more, his credit limit is further reduced to ₹30,000.

Key Takeaway:

ATM withdrawals reduce your available credit limit and incur additional fees. Using the card for purchases instead of cash withdrawals, it is best to avoid extra charges.

Billing Cycle

Monthly statements sent via email and available on the Niyo App

Digital Access

Manage transactions, track spending, and pay bills via the Niyo App

Fee Type

Amount & Description

Joining fee/Annual fee

NIL

Cash Advance Fee (ATM Withdrawals, Domestic & International)

₹423 + GST or 2.5% of the amount withdrawn, whichever is higher.

Example: How Cash Advance Fees Work for ATM Withdrawals

 Karan, on a trip to Thailand, needs cash and withdraws ₹10,000 from an ATM using his Niyo Global Credit Card. The cash advance fee applies as follows:

2.5% of ₹10,000 = ₹250

Fixed fee of ₹423 + 18% GST (₹76.14) = ₹499.14

Since ₹499.14 (fixed fee) is higher than ₹250 (2.5%), he is charged ₹499.14.

If he had withdrawn ₹30,000, the 2.5% fee would be ₹750, which is higher than ₹499.14, so he would pay ₹750 instead.

Key Takeaway:

The higher of ₹423 + GST or 2.5% of the amount withdrawn applies. To minimise extra charges, avoid frequent ATM withdrawals. 

Late Payment Fee

₹150, charged if the Minimum Amount Due (MAD) is not paid on time.

Example: How Late Payment Fees Work

 Meera’s Niyo Global Credit Card bill for ₹15,000 is due on August 5. She forgets to make the payment and only remembers on August 10.

Since she missed the due date and the 3-day grace period (until August 8), a late payment fee of ₹150 is applied.

Additionally, her remaining balance of ₹15,000 will start accruing 3% monthly interest (42.58% annually).

If she had paid at least the Minimum Amount Due (MAD) of ₹750 (5% of ₹15,000) before August 8, she would have avoided the late fee.

Key Takeaway:

Always pay at least the Minimum Amount Due (MAD) before the grace period ends to avoid late fees and high interest charges! 

Interest Rate on Outstanding Balance

3% per month (42.58% annually), applied to unpaid amounts.

Example: How Interest in Outstanding Balance Works

 Ananya has a Niyo Global Credit Card and spent ₹20,000 in June. Her payment due date is July 10, but she only pays ₹5,000, leaving an outstanding balance of ₹15,000.

Since she did not clear the full amount, interest is charged at 3% monthly.

Interest on ₹15,000 = ₹450 (3% of ₹15,000).

In August, her outstanding balance becomes ₹15,450 (₹15,000 + ₹450 interest).

If she does not pay in August, the next month’s interest will be calculated at ₹15,450, leading to compound charges.

Key Takeaway:

Always pay the full amount to avoid high interest charges as unpaid balances proliferate due to compounding! 

Minimum Amount Due (MAD)

5% of the total due (minimum ₹100) is necessary to keep the account active.

Example: How Minimum Amount Due (MAD) Works

 Ravi’s Niyo Global Credit Card bill for ₹20,000 is due September 10. To keep his account active and avoid late fees, he must pay at least the Minimum Amount Due (MAD), which is 5% of ₹20,000 = ₹1,000.

If Ravi pays ₹1,000 by September 10, he avoids the ₹150 late payment fee, but the remaining ₹19,000 will incur 3% monthly interest.

If he only pays on September 15, he incurs a ₹150 late fee, and interest is charged on the entire ₹20,000.

If he pays the entire ₹20,000 by September 10, he avoids all fees and interest.

Key Takeaway:

Paying at least the MAD keeps the account active but leads to interest charges on the remaining balance. Always aim to pay in full to avoid extra costs!

Over Limit Fee

₹150, charged when spending exceeds the credit limit. 

Example: How the Over Limit Fee Works

 Ramesh has a Niyo Global Credit Card with a credit limit ₹50,000. While shopping in Singapore, he spends ₹51,500, exceeding his limit by ₹1,500.

Since he crossed his credit limit, a ₹150 over-limit fee is applied.

His new outstanding balance becomes ₹51,650 (₹51,500 + ₹150 Over Limit Fee).

If he continues to exceed his limit in future transactions, he will be charged ₹150 each time.

Key Takeaway:

Always track your spending to stay within your credit limit and avoid the ₹150 Over Limit Fee! 

Card Issuance Fee

Nil, making it a cost-effective option

Card Re-issuance Fee

₹249, applicable if the card is lost or damaged.

Example: How Card Re-Issuance Fee Works

 Pooja accidentally loses her Niyo Global Credit Card while travelling in Germany. She immediately blocks the card using the Niyo app and requests a replacement.

The bank charges her a ₹249 re-issuance fee for the new card.

The new card is dispatched and reaches her within 7-10 business days.

If she had damaged her card instead, the same ₹249 fee would apply for a replacement.

Key Takeaway:

If your card is lost or damaged, you can request a new one by paying ₹249. Always keep your card safe to avoid unnecessary replacement charges!