How to Use Instant Bank Deposit on Niyam

Step 1: Getting Started

Before you start, ensure you've completed your KYC (Know Your Customer) and bank verification with Niyam. This is crucial for a smooth and secure transaction process.

Step 2: Initiating Deposit

Open the Niyam app and navigate to the 'Wallets' page. Click on INR wallet, followed by INR Deposit to start the deposit process.

Step 3: Selecting Payment Method

You will see two payment options. Choose **'Instant Bank Transfer'** for a quick transaction.

Step 4: Understanding Instant Bank Transfer

With Instant Bank Transfer, a nominal fee of 0.1% per transaction is applied.

Only IMPS is supported (avoid RTGS, NEFT, or UPI to prevent issues).

The minimum deposit is ₹500, and transactions are processed in less than 2 minutes.

Step 5: Virtual Account Details

In the 'TO' section, you'll see your unique virtual account details, including the bank name (Indian Bank Virtual Bank) and your unique virtual account number.

Step 6: Adding Beneficiary in Banking App

Copy these details and add them as a beneficiary in your banking app. Once your bank authorises it, you are ready for the transfer.

Step 7: Completing the Deposit

Transfer the money using the provided details. The amount will reflect in your **Niyam** wallet within 1–2 minutes, almost instantly.

Step 8: Enjoy the Benefits

Instant Bank Transfer on Niyam offers:

A smooth, swift transaction handled by your banking partner.

Conclusion: Your Finance, Simplified

Thank you for choosing **Niyam**. With our Instant Bank Deposit feature, managing your finances is now more effortless than ever. Enjoy a quick, secure, and convenient way to handle your transactions!