Zero Balance Utkarsh Niyo Savings Account | RuPay Platinum Debit Card

Finance Ninja

Zero Balance Utkarsh Niyo Savings Account | RuPay Platinum Debit Card:


Utkarsh Niyo Savings Account

Experience the convenience of new age banking with our Zero Balance Account, designed to simplify your financial journey.

Earn high interest rates of up to 7.75%* PA with Utkarsh Niyo Savings Account.

What’s more! Despite a zero balance Account, the Bank in partnership with Niyo offers Co-Branded Debit Cards of two variants with RuPay.

1. RuPay Contactless International Platinum Debit Card
2. RuPay Contactless International Classic Debit Card
To make transactions even more effortless, the RuPay Debit Card comes equipped with Tap & Pay functionality.

Benefits -

  • Complete Digital Account Opening Process on NiyoX App
  • Zero Balance Account
  • Instant Generation of Virtual Debit Card & On demand Physical Debit Card
  • Earn Higher Rate of interest upto 7.75% p.a*
  • Exclusive Cashback and Discount Offers
  • Lounge Access at Domestics Airports

Fees & Charges -

  • Video KYC is completely Free
  • Zero minimum balance/non-maintenance fee
  • For complete details on fees & charges , Please Click here

Interest Rate -

Balance in ₹ Rate of Interest w.e.f 1stNovember 2023
Balance up to ₹ 1 Lakh 4.00% p.a.
Incremental Balance above ₹ 1 Lakh up to ₹ 5 Lakhs 6.25% p.a.
Incremental Balance above ₹ 5 Lakhs up to ₹ 50 Lakhs 7.50% p.a.
Incremental Balance above ₹ 50 Lakhs up to ₹ 10 Crore 7.25% p.a.
Incremental Balance above ₹ 10 Crore upto ₹ 50 Crore 7.50% p.a.
Incremental Balance above ₹ 50 Crore 7.75% p.a.

* T&C Apply

Important Point: No Additional Interest Rate for Senior Citizen.

RuPay Classic Contactless International Debit Card -

Issuance/annual fee - Rs250

RuPay Platinum Contactless International Debit Card -

Issuance/annual fee - Rs300


What is an Utkarsh Niyo Savings Account ?

Utkarsh Niyo Savings Account is a Digitally opened Savings Account offered by Utkarsh Small Finance Bank in collaboration with Niyo.

What are the features of the Utkarsh Niyo Account ?

Utkarsh Niyo Savings Account comes with all the digital experience and exciting features:
● A Complete Digital Onboarding Process with easy access to banking features via the NiyoX mobile App.
● Zero Balance Account with Nil Maintenance Charges
● Higher Rate of Interest on Savings Account Balance as per Bank’s Current Rate
● Instant Generation of RuPay Classic Virtual Card – Free of cost [only for E-Com]
● One App to manage all your Debit Cards,transaction limits, beneficiary management and fund transfers.
● Exclusive Domestic Airport Lounge Access [One Per Quarter] for RuPay Contactless International Platinum Debit Card Holders
● Exclusive feature to get your mobile number as a part of your Account number

● Debit Card with Tap & Pay along with Global Acceptance**
● 5 Cheque Leaves, Free of Cost
● A super-user-centric App with enhanced security to control and monitor transactions.
● 24*7 access to the support team via Chat
*Your registered mobile number [used for Account opening] will be used in your 16-digit Account number **Bank will levy applicable forex charges on international transactions

How can I open the Utkarsh Niyo Savings Account ?

We are offering a complete Digital Savings Account opening process, please download the Niyo X App and follow the below-mentioned steps:
● Complete the full KYC with Aadhaar, PAN Card, and the video KYC method.
● Your Account will be ready with a virtual card to use for online transactions.
● You can choose to apply for a physical Debit Card to transact at a POS or ATM.

What documents do I need to complete the video KYC ?

Video KYC process is quite easy. Please keep the following documents available with you before starting the call.
● Original PAN Card
● A white sheet of paper and a blue ball pen.
● A device [mobile, tablet, laptop, or desktop] with good internet speed.

We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Finance Ninja Finance Ninja
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Note - account on-boarding will start from April, 2024.

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Finance Ninja Finance Ninja
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Note - account on-boarding will start from April, 2024.

Blaze Blaze
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April 1st?

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Deal Cadet Deal Cadet
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Equitas Niyox Account holder wale bhi open kr skege?

Deal Lieutenant Deal Lieutenant
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Deal Subedar Deal Subedar
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Thanks plus1.
I see rupay platinum has 300 fees.

Deal Newbie Deal Newbie
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Only for physical card. Lets wait beyond Mar 29 and see rupay continues 20% off offer. Else no need to open an account.
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Comrade Comrade
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Can someone xonfim

1.Free virtual debit card is Rupay clasic?

2.Sms charges max 25 per quarter?

Helpful Helpful
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RuPay Platinum Debit Card offer rahega April mein wo batao pehle?

Generous Generous
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Iska kya karna hai.. 31 march 24 last date hai na.m amazon offer ka

Deal Subedar Deal Subedar
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it will extend

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Deal Cadet Deal Cadet
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any cb % 4 cc bill pay ?

The PostMighty The PostMighty
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Tell me if any bank account can be opened with non-adhar phone number...i have adhar no.too but linked with my home number...kotak and au bank not available in my location

Deal Cadet Deal Cadet
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I have opened recently a normal account at Utkarsh recently as they opened a branch very near my house. I did not want Rs 1 lakh/ month limit as FD rates are decent (same as Equitas/Ujjivan/Fincare/ Jana etc). They are ok. They called me for the official opening ceremony of my home branch. I met the chairman (HO Allahabad) , regional managers from Madras ,Bangalore etc.

I declined Utkarsh Debit  debit card saying "I dont want now" as it was not FREE. I have opened sufficient FD's to fill in the niche of banks paying 8.5%-9% for senior citizen FD's ( kicking out temporaryly other major banks who were offering 7.5-8.25% for similar durations) 

Note : after April 1st atleast 5-7 of my rupay platinum dbit cards are on the chopping block .Rs 500+gst annual fees are the first to go . up to 300+GST will be spared !😃


Finance Ninja Finance Ninja
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Update - Account opending started. Here 2 person share this info -

Person 1 - I had an Equitas online savings account years ago, but it got closed because I didn't complete the full KYC. When NiyoX was launched, I tried to open account but I was unable to open NiyoX Equitas savings account as it showed me as an existing customer and didn't allow me to complete the account opening process. This time, I successfully opened NiyoX Utkarsh SFB savings account.

They issued a RuPay JCB classic debit card with BIN 353613.

Person 2 - I just opened this account in early access. Few bugs/crashes during the process, vKYC was from browser so no issues there, In total it took 30-40 minutes to open the account. I am impressed with Niyo's seamless opening. All digital accounts I have opened till now took few hours to generate account number. This was way faster.

account number is: <6 digit code><your 10 digit mobile number>

IFSC code given is strangly from neighbouring/nearby city, Even though my city has 6 utkarsh branches. I don't know how they messed that up.

As of now the app is very rudimentary as far as Utkarsh acct is considered. All you can see is your account balance, and basic details. The DC is classic virtual and again you can view it, disable it and block it that's it. No way to request a new card of any kind in the app itself. Even money transfer options are too basic (add payee which has 4 hours cooldown). All you get is an account, however for early access that's fine.

Note - If you want RuPay Platinum debit card then wait few weeks or months. Zero Balance Utkarsh Niyo Savings Account is not fully Live yet. I heard they will officially launch on April, 2024.

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Benevolent Benevolent
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Account opening has started.

But better to go with a Standard/U-instant saving account for low Rupay platinum card fees.

Deal Subedar Deal Subedar
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Inka apna rupay credit card bhi aa rha h kya. Bhim me list ho gye hain utkarsh wale credit carde

Deal Subedar Deal Subedar
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Anyone opened?

Rupay platinum virtual card available?

Any other charges?

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