The Niyo SBM account with SBM is as safe as any traditional bank. Your money gets safely deposited with SBM (State Bank of Mauritius). This savings account follows all the regulatory guidelines by the Reserve Bank of India (RBI). Your money is also insured for up to ₹5 lakh covered under 'Deposit Insurance and Credit Guarantee Corporation, a wholly-owned subsidiary of the Reserve Bank of India (RBI).