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Niyo Global SBM card now earns only on online spends

SBM Bank's reward terms pay Niyo Coins on online spends only — 2% at home, 1% on foreign websites, 3% on travel booked in the Niyo app — and nothing on a card swiped or tapped, abroad or at home.

The card this affects

The Niyo Global SBM credit card is still the zero-markup card people carry abroad, but it no longer pays you for swiping it there. SBM Bank’s own reward terms, dated 26 February 2026, set the earn:

  • 2% in Niyo Coins on domestic online spends.
  • 1% on international online spends.
  • 3% on travel booked inside the Niyo app.
  • Nothing on ATM, POS and tap-and-pay transactions — the terms say so in as many words.
  • A ceiling of 500,000 coins a year, which is ₹50,000 at the ₹0.10 a coin Niyo publishes.

So a card swiped at a shop in Bangkok or Paris earns zero; only the markup saving is left, and that saving is the reason to carry it. Earlier, on 1 August 2025, Niyo’s own reward terms had already cut the international ATM fee reversals from three a quarter to one.

The board now prices the card on these terms: it stays among the zero-markup cards on the forex ranking, with nothing back on a foreign swipe, and it earns only on the online share of a household’s spends everywhere else.

Sources: SBM Bank — Niyo reward T&C, 26 Feb 2026 · Niyo — rewards T&C for SBM Niyo cards

More on this story

  1. SBM novio stops being lifetime free — ₹499 a year from 23 October

  2. SBM ZET's late fee becomes 5% of the balance from 23 October

Sources

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