Niyo IDFC v/s Niyo DCB Account + Card

UPDATE: As of July 2021, the Niyo IDFC Savings Account is discontinued for new users. You may check out the Niyo X Equitas Savings Account.

If you already have a Niyo IDFC account, you can use the IDFC Mobile Banking app to manage your savings account. It will continue to be a zero balance account, and the Niyo IDFC card will be active with 0% forex markup.

Niyo IDFC Debit Card v/s Niyo DCB Global Card:

I applied and got both the Niyo IDFC Account and the Niyo DCB Account as well as their respective cards.

Here’s some of the quick comparisons: (MUST READ 5th POINT)

  1. Niyo IDFC is a Savings Account that earns you 6-7% Interest. Niyo DCB is a Current Account. You won’t earn interest.

  2. Niyo IDFC is a 10k MAB Account (currently), whereas Niyo DCB is a Zero Balance Account.

  3. Niyo IDFC offers UPI Access. Niyo DCB doesn’t have UPI access.

  4. Niyo IDFC offers 5+5 domestic free ATM withdrawals from IDFC & Non-IDFC ATMs per month respectively. Niyo DCB offers unlimited free domestic ATM withdrawals from DCB ATMs only. Non DCB withdrawals are charged ₹20.

  5. Niyo IDFC offers unlimited free international ATM withdrawals. Niyo DCB offers only one free international ATM withdrawal per month. Second withdrawal onwards its charged at ₹100 + GST.

  6. Both Niyo IDFC as well as Niyo DCB has 0% Forex markup. That means if you use these cards for international transactions, international travels, international shopping etc., you won’t be charged additional fees.

  7. ATM Access Fees may be applicable on both IDFC as well as DCB Cards on International ATMs. This is a fee charged by the international bank whose ATM you are utilizing. It may be free also depending on the country and bank. Search more abt it on Google.

So, in short, Niyo IDFC Account offers better value even at 10k MAB. Niyo DCB card is good as a Zero Balance Account that you can use for Forex transactions, except international ATM withdrawals.

Check out this post to find out:

  • Detailed Comparison b/w Niyo IDFC & Niyo DCB.

  • How to apply for Niyo Accounts? (either individually or both)

  • Niyo Helplines.

  • Niyo Offers.


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