NiyoX Equitas Digital Salary Account

  • Open Salary Account and Complete KYC in 3 minutes
  • Add ₹20,000 or more in your NiyoX account
  • Spend ₹1,200 or more in one shot in the same calendar month
  • You’ll instantly get a scratch card with rewards up to ₹250!

Are you a salaried individual? If you answered that question with a “yes”, you already know the feeling of stretching your salary through the month. What if there was a way to make your salary go the extra mile and help you grow it effortlessly? A little extra goes a long way, don’t you agree?

Helping you make your salary last longer is what we do best with the NiyoX Salary Account. NiyoX at its core is an instant digital savings account created especially for salaried millennials. It’s a 2-in-1 proposition of a Savings and Wealth Account that helps save, invest, and grow money all in one place, so you don’t have to hop between different apps, companies, or web portals. The NiyoX savings account is created in partnership with the Equitas Small Finance Bank and VISA, whereas the DIY mutual fund investment platform is powered by Niyo Money in association with 5 Paisa. We do the heavy lifting for you so you can have a seamless banking experience.

 A salary account is a type of savings account offered to salaried individuals by a company in partnership with a bank. Companies tie-up with banks as a convenient means to disburse monthly salaries to their employees.

If you wonder what is it that sets the NiyoX Salary Account apart from the rest. Here’s a quick rundown of everything that NiyoX has to offer you for a hasslefree experience and gain control of your finances:

Features and benefits of NiyoX salary account

Your NiyoX 2-in-1 account is a feature-packed instant digital savings account and the best choice for a salary account for numerous reasons:

  • Paperless onboarding: With no more bank visits, waiting in long queues, or confusing forms to fill out, the  process ensures you can open an account 24X7 from anywhere. You can have access to a brand new bank account in less than 100 seconds — salary account opening online couldn’t get easier than this
  • Minimal documentation: All you need to open your NiyoX account is your PAN, Aadhaar, and access to your Aadhaar-linked mobile number. Since the account opening is completely online, there’s no need to rush to get photocopies of your documents at any time.
  • Zero balance account: With no need for maintaining an Average Monthly Balance (AMB) at any point in time, you have the freedom to operate your account without any strings attached
  • Industry-best 7% interest p.a.*: Salary account interest rate varies with different banks and types of accounts. NiyoX brings you the best in the class interest rate that ensures gentle yet steady growth of your account balance. Opting for a NiyoX salary account will help you to steadily build enough balance to earn the 7% interest rate annually. The interest is calculated on the daily end of the day balance and the accrued interest is credited to your account every quarter so you can enjoy the benefits of your growing balance sooner.
  • Instant debit card: Your NiyoX account comes with a nifty virtual VISA Classic Debit Card that can be used for online transactions, the moment you open your account
  • Physical debit card: Your physical VISA Platinum Debit Card comes with a convenient Tap & Pay feature for contactless payments for quicker checkout at stores. You can pick your choice from two cool card designs Illustration style/Light halftone and Dotted/Dark halftone whichever catches your fancy.

  • Enhanced card controls: The card comes with custom card controls right within the app for enhanced security of your account. You can lock/unlock your entire card or individual payment channels (POS, ECOM, ATM, Spend abroad) or block the card permanently if it gets lost/stolen, The Tap & Pay feature for contactless payments ensures faster payments at checkouts.
  • Zero forex markup: Your physical VISA Platinum card can be used to make purchases online at international websites as well as for in-person transactions abroad. Normally, banks add a surcharge of up to 3% of the total transaction amount of an international transaction. The NiyoX card comes with a zero forex markup facility, meaning Niyo doesn’t charge any fee and all international transactions benefit from the VISA exchange rates applicable worldwide. 
  • Multi-format account statement: The NiyoX account allows you to download statements within the app in your desired date range and format for ease of analyzing your expense pattern and making habitual changes if needed
  • Mutual fund investments: NiyoX is a 2-in-1 account with a DIY wealth management platform that offers zero commission on all direct mutual fund investments within the app. The curated list of recommendations and market research makes it easy to get you started with your investments.
  • Micro-investing with spare change: The Invest the Change feature within the app gives you the opportunity to save and invest small amounts in a mutual fund of your choice. All your spending can be rounded off to the nearest ₹10/50/100 and the accumulated spare change can be invested with the fully-automated hassle-free process within the app. When you use your salary account for your everyday expenses too, you’ll accumulate enough spare change to invest small chunks of money effortlessly–regularly!


  • Import portfolio: You can import your mutual fund portfolio from other platforms and track it within the NiyoX app
  • Referral Rewards: This feature lets you introduce your family and friends to experience NiyoX digital banking and get you both exciting incentives
  • Offers: The exclusive in-app offers and discounts on leading brands help you get the best of what your favourite brands have on offer for you
  • Monthly cashback: What’s more? Opting for a salary account activates the salary rewards program that earns you a cashback of up to ₹250/month for 12 months*

With these compelling features, the benefits of salary accountby NiyoX outweigh your average salary account any day.

Difference between a regular and NiyoX salary account

Here is a more detailed comparison, lets take a look at that :

Open salary account online with NiyoX in just a few simple steps:

  • Download the NiyoX app from App Store or Google Play Store
  • Register with your mobile number and email address 
  • Validate your PAN and Aadhaar to complete your partial KYC
  • Fill in a few basic details
  • That’s all, your NiyoX account will be active 
  • Opt for a “Salary Account” in-app.

 Share your account details with your Human Resources (HR) Team with a request to switch your existing salary account and credit your salary to your NiyoX account. 

Opening a digital salary account is as simple as that!

Does your employer already have an arrangement for a salary account with another bank? Worry not, we got you covered. The NiyoX salary account also comes with a 12-month reward program with exciting monthly cashback. You can still benefit from the reward program, explore salary rewards within your NiyoX app.

If you are on the lookout for the best salary account, your search ends here!



Who can open a NiyoX salary account?

Any individual above the age of 18 years with a valid PAN and Aadhaar can open a NiyoX salary account. 

Does interest apply to the NiyoX salary account balance?

 NiyoX comes with the industry-best interest rate, to be more specific:

  • Account balance of up to ₹1 lakh earns an interest of 3.50% p.a.
  • Any incremental amount above ₹1 lakh up to ₹5 lakhs yields an interest of 6.00% p.a.
  • Any incremental amount above ₹5 lakhs up to ₹50lakhs yields an interest of 7.00% p.a.
  • All incremental amount above ₹50lakhs yields an interest of 5.50% p.a.



This yields constant growth to your savings. For instance, if you consider an account balance of ₹20,025,000, you will gain 3.5% on 1 lakh, 6.00% on the next 4 lakhs, 7.00% on the incremental 19,500,000, and 5.50% on the remaining 25,000. 

The interest is calculated on the daily end-of-the-day balance and accrued interest is credited to your account on a quarterly basis

Note: Partial KYC (pending biometrics) account comes with a limit on the balance you can keep in your account. To enjoy the high interest rate of 7% p.a., we suggest that you complete your biometric verification and upgrade to a full KYC account with no constraints on the account balance.

Is the NiyoX Salary Account a zero balance account?
The NiyoX Salary Account comes with the promise of not charging a fee for not maintaining any balance in your account at any point in time, in other words, it’s a zero balance account.
However, if you intend to use the NiyoX card for international transactions, you can enjoy the benefit at no extra fee for an entire year. All you would need to do is maintain an average balance of ₹5K in any one month during the calendar year.

Is it safe to keep money in a NiyoX salary account?
It is safe to park your money in the NiyoX salary account. The savings account is provided by Equitas Small Finance Bank and follows all regulatory guidelines issued by the Reserve Bank of India. Your money is insured up to ₹5 lakhs covered under “Deposit Insurance and Credit Guarantee Corporation”, a wholly-owned subsidiary of the Reserve Bank of India. This is to provide a measure of protection to depositors. You can use the account for all your monthly savings and transactions.

Can I convert my existing savings account to a NiyoX salary account?
If you’re an existing NiyoX user, all you need to do is opt for the “Salary Account” within your app. Share your account details with your HR with a request for a change in your salary account so they can credit your monthly salary to your NiyoX account. You’ll be all set.

If you’re not an existing NiyoX user, we recommend you download the NiyoX app and onboard yourselves. It takes less than 100 seconds to open an account with us. Once onboarded, opt for the “Salary Account” within your app. Share your account details with your HR with a request for change in your salary account. It’s as easy as that!

Digital Savings Account

by NiyoX

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