Best Forex Card For Students From India Studying Abroad
Reasons Why Niyo Global Is the Best Forex Card For Students From India Studying Abroad
Niyo, in partnership with State Bank of Mauritius (India) Limited and VISA, brings you the Niyo Global card, a ZERO forex markup VISA Signature debit card that’s better than the best forex card in India. It is the perfect Zero Forex card for International students. Since Niyo Global is on the VISA network, it works anywhere a VISA debit/credit card is accepted.
While discussing the problem statement Niyo is trying to address with this latest Niyo Global offering, Sai Sankar, Business Head – Global at Niyo, shares:
“A student travelling abroad for higher education incurs many expenses like university fees, accommodation payments, living expenses, etc. With Niyo Global by SBM, we are looking at providing a single platform to handle all these requirements.
Moreover, whenever money is transferred through traditional channels from back home in India, students usually have to wait 3-4 days before receiving it. With our Niyo Global card, it’s an instantaneous transfer! This is extremely helpful, especially when there is an immediate requirement. Moreover, the app makes it easy to track all the expenses in one place. With advanced card controls, students need not worry about any card misuse. Niyo Global is the Best Forex card for students with zero markup.”
What is the best Forex card for Students with zero markup?
When choosing the best Forex card for students with zero markups, Niyo Global is on top as they aim to make your banking needs for travel, study, and beyond a smooth and hassle-free experience. With this interest-earning savings bank account, you can load your account in INR (Indian Rupees) and spend in the local currencies of over 150 countries. This means you don’t have to worry about carrying wads of cash while travelling or rushing to the bank to get a traveller’s cheque or anything of the kind.
A few of the most compelling features of Niyo Global that make it the Best Forex card for Indian students are:
- Zero Forex Markup* saves 3-5% on all Forex transactions
- Complimentary lounge access at select international terminals in India
- Add money in INR and use in 150+ countries and 130+ currencies and spend anywhere
- Earn 1% cashback as global coins
- Card delivered in 2-3 days
- 24×7 in-app live chat support to connect with us no matter where you are in the world
- Concierge services (Powered by VISA Signature)
- 7.5% Interest P.A.* on savings with monthly interest payouts
- Real-time in-app currency converter
- In-app ATM locator
- Zero commission on direct mutual fund investments
- Systematic Investment Plans (SIPs) starting at just ₹100
- Track Employees’ Provident Fund (EPF) balance in-app
If you are an Indian looking for a Zero Forex card for international students with zero markups, this global card with VISA is your best companion. All you have to do is download the Niyo Global App, and you can onboard yourself right away.
Why is Niyo Global the best Forex card for students with zero markup?
What makes Niyo Global the best Forex card for students is that it comes up with zero markup charges, also a full-fledged savings bank account supported by a light and fast mobile app with cool features such as:
Zero Forex markup:
- Niyo Global card charges zero forex markup, avoiding additional fees on foreign currency transactions.
Accepted by merchants in 150+ countries:
- Load in INR and auto-convert for transactions in the local currency of 150+ countries.
- Digital account with unique details; load anytime for free via UPI/NEFT/IMPS/RTGS.
Complimentary airport lounge access:
- Niyo Global provides airport lounge access in domestic and international terminals.
- Features an international VISA Signature card for added luxury during travel.
100% digital onboarding and KYC:
- Seamless account opening through the Niyo Global App without paperwork.
- Access the best zero forex card for students without visiting a bank.
Instant account opening:
- Quick account opening through the fast Niyo Global App.
- Immediate use for online transactions while waiting for the physical card.
Zero balance savings account:
- No mandatory monthly balance; suggested to maintain at least ₹10,000.
- Linked to a digital savings account with up to 7.5% interest P.A. and monthly payouts.
Up to 7.5% interest P.A.* on account balances:
- Another feature that makes this a better card than other best Forex cards for students is that this global card is linked to your digital savings account, which earns interest and continues to grow while you travel.
- You also get monthly interest payouts, which means extra cash each month!
In-app Currency Converter:
- Real-time currency rate display for transparent budgeting.
- Useful feature for international students managing expenses in different currencies.
Note: VISA Exchange Rates apply to all foreign transactions.
In-app ATM locator:
- Convenient tool to locate the nearest ATM for local currency withdrawals during travel.
Real-time tracking:
- Instant app updates for all transactions, aiding in better financial planning.
- Option to pin account balance in the local currency for effective budgeting.
Enhanced security:
- Lock/Unlock/Block Card features for added security.
- Immediate action options, including blocking the card permanently if lost.
Zero fund transfer fees:
- No additional fees for fund transfers via UPI/NEFT/RTGS/IMPS.
- Convenient transactions from anywhere at any time.
International Zero Markup Forex Card:
- Tap and Pay card for contactless payments with zero forex markup.
- Includes complimentary airport lounge access across India.
Zero commission mutual fund investments:
- Open a wealth account during Niyo Global onboarding.
- Invest in direct mutual funds without paying any commission.
24×7 in-app live chat support:
- Access 24x7 live chat support for assistance regardless of time zone.
Exclusive offers:
- VISA Signature debit card with unique offers and discounts for car rentals, flights, hotels, etc.
- Additional benefits, including lifestyle, health, and F&B discounts.
If you’d like to, you can load your account cash while in India by visiting any of the SBM Bank branches in New Delhi, Mumbai, Hyderabad, Bangalore, Chennai, and Ahmedabad.
Once loaded, you can use your account to make transactions at POS, online, fund transfers, etc., in local currencies of over 150 countries, including India.
Niyo Global Pro Tips
- Dynamic currency conversion
- Dynamic Currency Conversion is a fee charged by merchants who offer customers an option to pay in their home currencies (in your case, INR).
- This is sometimes higher than 7% of your total transaction amount. We recommend you spend in the local currency of the country you are visiting (and not in INR). This will help to minimise the charges on your transactions.
- ATM/POS terminal
- The nifty ATM locator in your Niyo Global App will help you locate one near you.
- While making digital transactions is the best way to get the most out of your account, often, it is necessary to have cash in local currency on hand.
- It is important to note that cash withdrawals and balance enquiries at ATMs attract a small fee (Check details below).
- Limits on transactions
- The Niyo Global card can be used for domestic and international contactless payments at POS, cash withdrawals or balance enquiries at ATMs, and online transactions.
- Your Forex card for international students with zero Forex markup comes with specific limits on daily transactions, such as
| Category | Daily Limits |
| ATM cash withdrawal | fff;">₹1,00,000 |
| POS Transaction Contactless payments | <td style=“background-color:|
| Online Transactions | <td style=“background-color:|
| Fund Transfers= | |
| Within the cooling period (30 minutes) | <td style=“background-color:|
| Fund transfer (per beneficiary) | <td style=“background-color:|
- “Niyo Global card has been very convenient for my sister, who studies abroad & she highly recommends I get one for me too. The best part about this card is that my parents can transfer money at any point in time, most importantly without any markup. So, you end up saving on the university fees as well. With the 24X7 in-app support, you know that help is always a simple message away. In simple words, this is better than the best Forex card for students that they can have while travelling abroad to study.” – Varanya
- “I’m currently pursuing a Master’s in Management from SKEMA Business School, Paris. Getting a Niyo Global card was hassle-free and the best Forex card for students with zero markups. While in India, I used it to pay the fee for the GMAT Online Exam and the advance for my accommodation in Paris. Travelling in France is expensive. Renewing my monthly transport pass via Niyo Global Card is as convenient and easy as can be. Groceries and daily needs are unavoidable expenses and would have burned a hole in my pocket without this card. My journey here would have been much more expensive if I had not opted for the Niyo Global Card.” – Akash
Niyo Global card can be yours today!
Are you 18+ years old? Do you plan on travelling abroad to study? Do you have a PAN, Aadhaar, and Indian Passport? If you answered YES to all these questions, Niyo Global—the best Forex card for students travelling internationally over any other student Forex card—is the perfect match for you!
Download the Niyo Global App now and onboard right away. It’s all you need to take care of spending in foreign currency at the best possible rates** while studying abroad.
Terms and Conditions
*For Niyo Global savings account balances, interest rates are structured as follows: Up to Rs 1 Lakh earns 3.50% per annum. Balances above Rs 1 Lakh and up to Rs 5 Lakhs receive an interest rate of 5.25% per annum. For cumulative balances above Rs 5 Lakhs and up to Rs 50 Crores, the interest rate is 7% per annum. Balances exceeding Rs 50 Crores are eligible for an interest rate of 7.50% per annum. The interest is calculated on the daily end-of-the-day balance, and the applicable interest rate, as per the respective slab, is applied to maintain the incremental balance.
| Niyo Global Interest Rates (slab wise) | |
| Upto Rs. 1 Lakh | fff;">3.50% pa |
| Above Rs. 1Lakh & Upto Rs. 5Lakhs | <td style=“background-color:|
| Above Rs. 5Lakhs & Upto 50 Crores | <td style=“background-color:|
| Above Rs. 50 Crores | <td style=“background-color:|
**VISA exchange rates apply on all transactions
Frequently Asked Questions
1. How does Niyo Global simplify account management for Indian students?
Niyo Global offers 100% digital onboarding, allowing students to open accounts seamlessly without the need for complex paperwork.
2. How does Niyo Global cater to the financial needs of students on the go?
The card’s unique feature allows students to load their accounts in INR from anywhere at any time via various channels, offering unmatched convenience.
3. Are there any charges for maintaining a balance in the Niyo Global savings account?
Niyo Global does not mandate a specified monthly balance, although maintaining at least ₹10K is advisable. This flexibility makes it a preferred choice for students.
4. Does Niyo Global charge any fees for fund transfers?
No, Niyo Global does not charge additional fees for fund transfers via UPI/NEFT/RTGS/IMPS, providing students with a cost-effective solution for managing their finances.
5. How does Niyo Global assist in budgeting for international students?
The in-app currency converter feature provides real-time currency rates, helping students budget effectively and avoid surprises during transactions.
