Top 10 Neobanks in India

With customers scared of visiting bank branches and social alienation the norm, the COVID-19 epidemic has increased customer digital acceptance of their banking needs.

Neobanking is a virtual banking experience where all of the bank’s services are virtual, from customer onboarding to the most basic banking services. A Neobank is a virtual bank that works entirely online. While modern banks have done a lot to deliver a positive customer experience, there are still gaps, especially in corporate banking.

The global neo banking market is estimated at $ 34.77 billion in 2020 and at $ 47.1 billion in 2021. It is estimated at $ 722 billion by 2028.

The first neo-banks to open in India were aimed at corporate clients. Some fintech companies are now launching them in the retail market. Neo-banks offer 100 percent digital banking services worldwide. So here are the ten largest neo banks in India.

Top 10 Neobanks in India

  1. Jupiter
  2. Fi money
  3. OcareNeo
  4. Niyo
  5. ZikZuk
  6. North loop
  7. RazorpayX
  8. Kotak 811
  9. Digibank
  10. InstantPay

frequently asked Questions

About neobanks

Top 10 Neobanks in India

Listed here are some of the best neobanks in India.


Jupiter - Top Neobanks in India
Jupiter – Top Neobanks in India

Jupiter is a neo bank that aims to bring a paperless and seamless banking experience to consumers in the country. With the neobanking app you can quickly open bank accounts, get a comprehensive insight into your spending development, save meaningfully and enjoy services without hidden costs. There are no hidden fees. You will be charged 2.5% per year on a savings account and from your 6th IMPS transaction.

You can also set up a pot for all of your money, track your spending goals, and automate your investments.

Fi money

Fi Money - Top Neo Banks in India
Fi Money – Top Neo Banks in India

Fi Money is professional neo banking software that helps people budget and save wisely.

The app has zero balance, a smart savings account, and many other tools to help you manage your money better. Fi Money offers a card with no FX surcharge, the ability to withdraw money from any ATM, and transparent costs, to name just a few features. Fi savings accounts pay an interest rate of 2.5 percent.

This neobanking software also includes an auto-bot, FIT, which enables users to develop and automate rule-based operations.

Things You Should Know About Top 10 Banks In India

With so many banks to choose from, a customer may be confused as to which is the better one. That is why we have listed the top 10 Indian banks in India for you here.


OcareNeo - Top Neo Banks in India
OcareNeo – Top Neo Banks in India

OcareNeo is the nation’s first healthcare neo-banking application. The platform combines two areas: banking and healthcare to create a seamless experience for both healthcare professionals and patients. With QR codes, it offers one-tap access to medical history. It also features a digital piggy bank and virtual cards for managing health bills.

You also get e-insurance and can keep track of everything on a single dashboard. Now all you have to do is log in and get started.


Niyo - top neo banks in India
Niyo – top neo banks in India

Niyo, a neobank founded in 2015, serves the needs of over one million consumers from various industries and Indians traveling internationally. Neobank was founded with employees in mind, and Niyo has developed solutions to help them get the most out of their salary. Currently, Niyo is helping consumers make smart and safe international purchases.

Users can use the bank’s digital platform to pay bills, make online purchases, transfer cash, use ATMs anywhere in the world and track their spending behavior, among other things.

In May, Neobank presented its “Niyo Pathshala” project to promote the financial literacy of the Indian workforce.

As part of its digital campaign, the company educates people about the benefits and functions of branchless banking.


ZikZuk - Top Neobanks in India
ZikZuk – Top Neobanks in India

ZikZuk is a neo banking platform that strives to create a sustainable and scalable financial environment for SMEs. It equips founders with the tools they need to make data-driven decisions. Founders can use the platform’s credit cards to get the best credit available, earn incentives, and evaluate AI-generated reports.

It also enables companies to quickly meet their credit needs with the Unsecured Credit on Card feature and increase efficiency with Linked Banking.

ZikZuk’s Business Finance Manager Tool helps SMBs focus on growth and gain superior financial insights.

North loop

North Loop - The best neo banks in India
North Loop – The best neo banks in India

North Loop is a financial platform that provides banking and investment services to a global audience. This software can help you open accounts in new countries, get loans and manage your finances in India.

North Loop serves both individuals and businesses. Invoicing, cash management, payment gateway, virtual accounts, charges, supplier payments and withdrawals are just a few of the goods and services that North Loop offers to businesses.

North Loop offers a free plan, a Premium plan for 1999, and an Ultra plan for $ 3999. There are also unique solutions for freelancers who want to take the headache out of dealing with international clients.


RazorpayX - Top Neo Banks in India
RazorpayX – Top Neo Banks in India

RazorpayX is the neo banking platform from India’s newest unicorn Razorpay, which has a market cap of $ 1 billion by 2020. RazorpayX is a neobank that offers SMEs and startups credit cards and transaction services that enable them to accept B2B payments from customers and pay providers … RazorpayX enables you to set up and manage fully functional checking accounts. Standard banking services like a debit card, bank statements, and checkbook include RazorpayX checking accounts. API banking, analytical reporting, and approval workflow are all functions of the platform. Ecommerce businesses can use RazorpayX to make quick refunds on credit cards, bank accounts, and UPI IDs. Companies can also automate the refund process by using the API or dashboard to create refund requests.

With Payout Links, RazorpayX automates refunds for cash on delivery (CoD) orders. Payout Links speeds up the process of refunding a consumer by automating the entire process.

RazorpayX is available in three different options depending on the needs of your business: Basic, Pro, and Enterprise.

Kotak 811

Kotak 811 - Top Neo Banks in India
Kotak 811 – Top Neo Banks in India

Kotak 811 is a new generation bank account launched by Kotak Mahindra Bank. It is the country’s first contactless savings account that can be opened easily using video KYC.

You can earn up to 4% interest per year on your savings account and transfer cash free of charge with IMPS, RTGS and NEFT. You can also use virtual cards to shop online and apply for actual cards.


Digibank - Top Neo Banks in India
Digibank – Top Neo Banks in India

Digibank, launched in 2016, offers consumers a fully online savings account with faster adoption, more manageable payments, increased security and incentives. You have a Universal Banking Remote with which you can connect your bank accounts to the Digibank and use your integrated soft token for secure authentication. From the second year after creating your digiSavings account, Digibank charges an annual fee of 150 USD plus 18% GST.


InstantPay - Top Neo Banks in India
InstantPay – Top Neo Banks in India

Individuals and organizations of all sizes can use InstantPay’s full stack banking services. It is estimated that the bank conducts one million transactions a day. InstantPay offers fast activation, money tracking and cash deposit functions with its personal, business and integrative banking solutions. InstantPay Neobank offers customer service 24 hours a day, 365 days a year.

InstantPay is available on the web and mobile devices. The API banking platform is a highly scalable cloud platform that can be expanded from zero to one million transactions per day. InstantPay allows anyone to create a digital account, a viable alternative to wallets and traditional bank accounts.

Startups and small businesses can open a smart bank account. The scalable and cost-effective solutions from InstantPay are available to large companies.

frequently asked Questions

What are Neobanks in India?

Neobanks are digital banks that have no physical branches. They offer financial services through apps on smartphones.

Who founded Jupiter Neo Bank?

Neobank Jupiter was founded in 2019 by Jitendra Gupta.

What are the top neo banks in India?

Top neobanks in India are:

  • Jupiter
  • Fi money
  • OcareNeo
  • Niyo
  • ZikZuk
  • North loop
  • RazorpayX
  • Kotak 811
  • Digibank
  • InstantPay