DCB Bank| DCB Niyo Savings Accountaccount Interest Rates, Minimum Balance, Features

Product Details

Bank Name

DCB Bank

Account Name

DCB Niyo Savings Account

Account Type

Saving

Interest Rate

Up to 1 lakh-1.75% and from 1 lakh to less than 5 Lakh: 2.75% and from 5 lakh to less than 10 Lakh: 4.75%, and from 10 lakh to less than 25 Lakh: 7.40%.

Free Debit Card

No.

Account Opening Fees

Debit Card Charges

Platinum Debit Card by Visa. INR 500 from second year.

Annual Maintenance Fees

NEFT Charges

Free through Net Banking.

Minimum Account Balance

IMPS Charges

AMB is 25,000 or more: Free AMB is less than 25,000: 10 transactions free per month; thereafter per transaction charges as below: Upto 1,000: Nil 1,001 and upto 25,000: 4.50 per transaction 25,001 and above: 7.50 per transaction

Fees and Charges of

DCB Niyo Savings Account

Special Features

• Zero foreign exchange mark-up on all your international debit card transactions.

Eligibility Criteria

To be eligible to apply for this account, you must:

• Be a resident Indian (NRIs and foreign citizens cannot open this account).
• Be 18 years of age or above (minors cannot open this account).
• Have an active Indian passport (issued in 2014 or after) and Aadhaar linked active PAN Card.
• Should not be a corporate/ business / HUF or politically exposed person.

Benefits

Features, Eligibility and Benefits of

DCB Niyo Savings Account

Pros & Cons of

Pros

• The account offers Visa platinum debit card.
• Zero foreign exchange mark-up on all your international debit card transactions.
• Immediate card blocking in case of theft or loss, making it convenient and secure.
• Users can earn cashback up to ₹7,500 in a financial year with every valid UPI transaction of ₹500 or more, subject to the monthly number of transactions stated.

Cons

• Low interest rate.
• DCB Bank has limited branch and ATM network.

DCB Niyo Savings Account

DCB Niyo Savings Account Review

The account comes with low interest rate and offers average value add features.

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Review of

DCB Niyo Savings Account

Account Opening and Procedure of

How to open an Account?

To open a DCB Niyo Savings Account, you can follow these steps:

• Download the Niyo App: Download the Niyo app from the Google Play Store or Apple App Store.
• Register on the App: Create an account on the Niyo app using your mobile number and email address.
• Complete Video KYC: Undergo a video KYC process within the app to verify your identity. You'll need your Aadhaar card and PAN card for this.
• Set Up Your Account: Once your KYC is verified, set up your account details, including your name, date of birth, and address.
• Fund Your Account: Transfer funds to your new DCB Niyo Savings Account to start using it.

Application Procedure

DCB Niyo Savings Account