SBM Account Basics and Features

All about your account and its features!

What is the "Niyo SBM" account?
Niyo SBM is an interest-earning (up to 7.25%) savings bank account. We are offering this savings account in partnership with SBM (State Bank of Mauritius) B...
Mon, 11 Mar, 2024 at 12:56 PM
Know more about SBM (State Bank of Mauritius).
SBM (State Bank of Mauritius) is a leading international bank with a major presence in Mauritius, Kenya, and Madagascar.  They started operating in India i...
Thu, 23 Nov, 2023 at 3:14 PM
How safe & secure is the Niyo SBM account?
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 ...
Mon, 11 Mar, 2024 at 12:43 PM
How can I add money to the Niyo SBM account?
Click on “Bank” (bottom of the screen - this will take you to the savings account screen). Select "SBM Savings account" Click on “Add Mone...
Mon, 11 Mar, 2024 at 12:53 PM
Am I eligible to apply for this account?
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 a...
Thu, 23 Nov, 2023 at 3:15 PM
Charges on the Niyo SBM Savings account
There are very few charges on the Niyo SBM Account. ATM charges for the debit card: The debit card can only be used domestically. If you use an SBM ATM, th...
Mon, 11 Mar, 2024 at 12:42 PM
I already have an SBM account. Can I open an account here?
Yes, you can. You can open a Niyo SBM account even if have an existing account with SBM. We will ensure that your customer ID remains the same when you open...
Mon, 11 Mar, 2024 at 12:55 PM
Benefits of the Niyo SBM savings account.
There are many benefits of having the Niyo SBM savings account. This is a zero-balance account (no requirement of maintaining a specific monthly balanc...
Mon, 11 Mar, 2024 at 12:32 PM
Are there any balance requirements?
There are no minimum or maximum balance requirements/limits with this account. This is a zero-balance account (no requirement of maintaining a specific mont...
Thu, 23 Nov, 2023 at 3:17 PM
What is the bank's name and address?
Bank Name: "SBM Bank India Limited" (use this name for any third-party UPI apps). Bank Address: 101, Raheja Centre 1ST Floor, Free Press Journal ...
Thu, 23 Nov, 2023 at 3:18 PM