Niyo started as a forex-focused debit card for international travellers. Its new credit card is a different animal — a prepaid-style zero-fee credit card (issued via partner banks) aimed squarely at Indians who travel abroad frequently. If your pain is foreign transaction markups, this card solves exactly that problem.
Fees and charges
| Joining fee | ₹0 |
| Annual fee | ₹0 (lifetime free) |
| Foreign markup | 0% on 100+ currencies (zero forex markup) |
| ATM withdrawal (international) | ₹350 + applicable foreign bank fee |
| Exchange rate | Interbank Visa rate (no markup added) |
The zero-forex angle
Every major bank credit card in India charges a 1.49% to 3.50% foreign markup on top of Visa/Mastercard’s interbank rate. Niyo Global offers a true 0% markup. On ₹5 lakh of international spend, that’s ₹7,500–₹17,500 saved per year — enough to cover multiple premium card annual fees by itself.
How rewards work
- Domestic spend: minimal to no reward points (the card isn’t optimised for domestic earning)
- International spend: no explicit reward multiplier, but the 0% forex is the reward
- Occasional promotional cashback: campaign-based, varies by partner
What’s missing
- No lounge access
- No welcome benefit, no milestone benefits
- Domestic reward rate is effectively zero
- Customer service is app + email based only — no dedicated phone support
Who this card is for
- Best fit: frequent international travellers (4+ international trips per year)
- Best fit: students studying abroad, freelancers billing international clients
- Best fit: as a dedicated “international spend” card paired with a domestic premium card
- Skip if: you don’t travel or spend abroad — the card offers no domestic value
Verdict: Best-in-class forex card in India by a clear margin. If your international spend is ₹3 lakh+/year, this card alone will save you thousands. Pair it with a domestic premium card (Infinia, Magnus, or SBI Cashback) for a two-card setup that beats any single card.
Niyo’s product is powered by a partner bank (historically Equitas and others). Verify the current issuing bank and terms on the Niyo app before applying.
This is independent commentary, not financial advice.