Seven percent interest will be available on opening this account, mutual fund commission and maintenance charge are also free

70% of Indian youth are inclined towards digital banking

70% of Indian youth are inclined towards digital banking

Digital Banking FinTech Startup Neo has launched 2-in-1 account NiyoX. In this, customers will get ‘007 banking’ facility.

Mumbai. Keeping in mind the youth, Digital Banking FinTech Startup Neo has launched the latest mobile banking facility NeoX (NiyoX) in the country. ‘007 Banking’ is being offered under NeoX. ‘007 Banking’ means 0% commission on investment in Mutual Funds, zero on account maintenance and up to 7% interest on account balance.
In addition to the latest mobile app under NeoX, a Visa Platinum Debit Card is being given with an account. By the end of 2021, the target is to connect 2 million customers with NeoX. For this facility Neo has partnered with Equitas Small Finance Bank and Visa.
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Offers like referral incentives, reward points and cashback via scratch cardNeoX is a 2-in-1 account, in which customers get the benefits of the entire wealth management suite along with the savings account. Wealth Management Suite includes features like 0 commission mutual funds, the facility to monitor all investments from one place as well as the facility to invest the remaining amount. NeoX will also offer a multi-layered reward system. There will also be exclusive offers along with cashback through referral incentives, reward points and scratch cards.
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70% of Indian youths lean towards digital banking

Before starting NeoX, Neo had conducted a survey on 8000 youth across the country. What are the banking needs of youth after the Kovid-19 epidemic, it was understood from this survey. This study showed that 70% of the Indian youth is inclined towards digital banking and the main reason for this is the convenient services offered to the customers. In the survey, 55% people said that they can change their bank for rewards and offers. At the same time, 45% people were willing to change the bank for higher interest rate.

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