Niyo Global Credit Card Review 2026: Zero Forex, Little Else

The Niyo Global Credit Card is worth getting for one reason: it charges zero forex markup on international spends and costs nothing to hold. Its rewards are thin (0.5% base cashback, 1% on travel) and it has no lounge access, so it's a card to carry abroad, not an everyday card. For students and frequent international travellers who want to stop paying 3.5% on every foreign transaction, it does that job well.

Who this card is for

Niyo built its brand on a zero-markup debit and travel account, and the Global credit card, issued through SBM Bank India, carries that idea over to credit. It suits:

• Students studying abroad who pay for daily expenses in foreign currency
• Travellers who take a few international trips a year
• People who buy from foreign websites and pay in dollars, euros or pounds
• Anyone who wants a free backup card for travel

It's a poor fit if most of your spending is in India, where its 0.5% cashback is among the lowest on the market.

Fees and key features

Feature	Niyo Global Credit Card
Issuer	SBM Bank India (Niyo)
Joining fee	₹0
Annual fee	₹0
Fee waiver	Not needed
Base reward rate	0.5% cashback
Travel	1%
Forex markup	0%
Domestic lounge	None
International lounge	None
Minimum income	Not listed in our data

There's nothing to waive and no break-even point. The value is whatever you save on forex, plus a little cashback.

The forex maths

Most Indian credit cards charge a 3.5% markup on foreign currency transactions, and 18% GST applies to that markup. So the true cost is 4.13% on every international spend.

Example: a ₹1,50,000 trip abroad

• On a 3.5% markup card: ₹5,250 markup + ₹945 GST = ₹6,195
• On Niyo Global: ₹0 markup, ₹0 GST
• Cashback on Niyo at 1% (if the spend counts as travel): ₹1,500; at 0.5%: ₹750

You come out ₹6,945 to ₹7,695 ahead of a typical card on one trip.

Example: a student spending ₹60,000 a month abroad

• On a 3.5% markup card: ₹2,478 a month in markup and GST, or ₹29,736 a year
• On Niyo Global: nothing

For a student, that's a meaningful amount, and it's the reason Niyo is popular with families sending children abroad.

A few things to know so you don't lose the saving:

• Zero markup isn't zero cost. Visa's exchange rate still applies. It's close to the market rate, but not identical to the rate you see on Google.
• Always pay in local currency. If a shop or website offers to charge you in rupees, say no. That's dynamic currency conversion, and the merchant's rate often costs more than any markup. Our DCC explainer shows how to spot it.
• Check TCS rules. International credit card spending and LRS reporting rules have changed several times. Our TCS on international spends explainer covers the current position; confirm with a tax advisor if you're spending large amounts.

ATM withdrawals and the travel account

Niyo advertises markup-free ATM withdrawals abroad on its linked Niyo Global travel account. That's the account product, not the credit card. If you withdraw cash on any credit card, including this one, banks usually treat it as a cash advance, with a fee and interest from the day you withdraw. Use the travel account for cash and the credit card for purchases. Our credit card cash withdrawal guide explains the charges.

Rewards

The reward side is modest:

• 0.5% cashback on general spends
• 1% on travel

On ₹20,000 of domestic spending a month, that's ₹100, or ₹1,200 a year. A basic cashback card would earn two to ten times that. Use Niyo abroad and another card at home.

Pros and cons

Pros

• Zero forex markup on all international currency spends
• Lifetime free
• Built for students and frequent travellers, with a linked travel account for cash
• Simple to understand

Cons

• Low 0.5% base cashback
• No domestic or international lounge access
• Limited use if you mostly spend in India
• Support and acceptance infrastructure trail the big bank issuers

Eligibility

BestCard's data doesn't list a minimum income for this card. Niyo and SBM Bank will assess your application through the Niyo app. Approval criteria vary, so check the current requirements in the app before applying.

How it compares with alternatives

Niyo has issued its Global card through more than one partner bank, and our data lists separate variants, so check which issuer you're being offered.

DCB Bank Niyo Global Credit Card: also free with zero forex, but with better rewards in our data: 1% base, 3% on travel and 2% online.

Federal Bank Scapia Credit Card: lifetime free, zero forex, 2% base and about 4% effective on travel booked in the Scapia app, plus unlimited domestic lounge access on ₹5,000 monthly spend. For most travellers, this is the stronger free zero-forex card. See Scapia vs Niyo Global for a full comparison.

Scapia Axis Bank Credit Card: lifetime free, zero forex, up to 20% back in Scapia Coins on app bookings, and unlimited domestic lounges in months you spend ₹20,000. Our Scapia Axis review breaks it down.

IDFC FIRST Millennia: lifetime free, zero forex, from a large bank, with 1.25% on dining and travel. Needs ₹25,000 monthly income.

Compare them on /compare, or browse our zero forex markup roundup.

Verdict

The Niyo Global Credit Card does one thing very well: it removes forex markup at no cost. If you're a student abroad or travel internationally often, that alone saves thousands a year. But with low cashback and no lounges, it's a travel-only card, and free alternatives like Federal Bank Scapia now offer zero forex plus better rewards and lounge access.

All figures here come from BestCard's latest card data, and issuers change terms often, so verify on Niyo's site before you apply. For a card that fits both your travel and everyday spending, try the card matcher.