List of  Top Neobanks  in India  2023

Freo is the  first credit-led & one of the biggest neobank in India. It provides a digital savings account called Freo Save, a flexible credit line called MoneyTap & much  more.

Fi Money has the Federal Bank backing them. You can open multiple savings accounts with Fi Money. They offer up to 5.1% interest on savings accounts but charge 1% of the interest rate for premature withdrawals.

Jupiter is similar to Fi Money in terms of partnership with the Federal Bank. Jupiter offers zero balance facilities. They also give 1% reward points for debit cards and UPI transactions. Their automated savings mechanism, Pots, provides a 2.5% interest.

InstantPay offers a banking platform to individuals and companies of all sizes and capacities. You can use InstantPay via website or application. InstantPay has partnerships with banks such as Axis Bank, ICICI Bank, Indusind Bank and Yes Bank.

FamPay allows you to open an account in just a few minutes. It offers a facility of virtual payment cards for online shopping, domestically and internationally.  In addition, their FamPay future is a fantastic initiative for the younger generation to learn more about finance

Sairee Chahal created Mahila Money in partnership with Capital Trade Links LTD. t is a neobank exclusively for female entrepreneurs from all walks of life. It provides collateral-free loans without any guarantor at the interest rate of 20% per annum.

Niyo has been around for five plus years now and has over 2.5 million happy customers. It offers several products and services to its customers with the motto of “making banking smarter, safer, and simpler.”

RazorpayX was launched as an API and dashboard pay-out platform for merchants. Its software is customised for businesses to automate their payroll by scheduling invoices. It also assists in deciding the credit limit of an enterprise.

Chqbook aims to empower small business owners and budding entrepreneurs by offering personalised financial services and security.  Chqbook’s features includes, Banking allowing current accounts, Rewards on transactions, Insurance coverage, Loans with zero fee

ZikZuk works for the growth of SME founders. It offers founderscard, a credit card to founders with excellent credit scores. ZikZuk also offers contact banking to the founders to help manage their businesses. It also provides unsecured loans to entrepreneurs