Revolut is an e-money institution platform that provides a wide range of banking and financial services through its mobile app and web platform. Launched in 2015, Revolut initially started as a service for managing multiple currencies but has since grown into a comprehensive financial platform used by millions of people globally.
Moreover, one of Revolut’s main features is its multi-currency accounts, which allow users to hold, exchange, and spend in various currencies at competitive exchange rates. This service is particularly popular among frequent travelers and those who need to manage money across different countries.
Beyond traditional banking services, Revolut also enables users to engage in cryptocurrency trading, stocks and comodities directly within the app.
In this article, we will uncover Revolut’ availability and expansion plans in India, as well as provide alternative solutions.
Is Revolut available in India?
Unfortunately, Revolut is not yet available in India and it’s currently available in 35 countries. According to their website, Revolut “You can open a Revolut account if you live in a country or overseas territory listed below: Australia, Brazil, European Economic Area (EEA), Japan, New Zealand, Singapore, Switzerland, United Kingdom and United States”.
As the world of digital banking evolves, Indian residents looking for sophisticated and user-friendly banking platforms have a variety of options. Revolut has gained popularity in over 35 countries for its innovative features, transparent operations, and a strong commitment to social and environmental responsibility. However, Revolut is not available in India.
This article explores the best Revolut alternatives accessible to Indians who wish to benefit from innovative digital banking services. We will look at the best neobanks and fintech platforms that cater to the unique needs and preferences of Indian users, offering features such as low fees, seamless transactions, and comprehensive mobile banking solutions.
Whether you are a seasoned user or just getting started, keep reading to learn about the best options for managing your finances efficiently.
If you would like to read our full review of Revolut just click here!
Revolut Alternatives in India
In this section, we will be discussing 3 alternatives that share comparable features with Revolut in India:
- Niyo
- Jupiter
- Freo
Niyo
Niyo is an Indian fintech company that offers digital banking solutions tailored to meet the needs of modern consumers, particularly those seeking a more convenient and efficient way to manage their finances.
Moreover, Niyo stands out for its innovative approach to international travel and expense management, offering Niyo Global Cards, which allow users to transact in multiple currencies without the high fees often associated with traditional banking products.
Overall, by leveraging technology to offer fast, efficient, and customer-friendly services, Niyo is playing a key role in the digital transformation of banking in India, providing a reliable and innovative alternative to traditional banks.
However, if you still have doubts about Niyo being the right fit for you, just click here and find out more!
Jupiter
Jupiter is a neobank based in India, launched in 2019, that provides a fully digital banking experience tailored to modern consumers. The platform operates primarily through a mobile app, offering a range of financial services, including savings accounts, expense tracking, and goal-based savings features.
Jupiter focuses on creating a user-friendly interface that allows customers to manage their finances easily and efficiently. With an emphasis on personalization, the app provides insights and tools to help users make informed financial decisions.
Overall, by eliminating the need for physical branches and embracing a digital-first approach, Jupiter is positioned as a key player in India’s evolving fintech landscape, catering to the growing demand for innovative banking solutions.
However, if you still have doubts about Jupiter being the right fit for you, just click here and find out more!
Freo
Freo Money is a neobank established in 2020 and headquartered in Bangalore, India. As a digital banking platform, Freo Money offers a variety of financial services, including savings accounts, personal loans, credit cards, and investment options, all accessible through its user-friendly mobile app.
Moreover, Freo Money aims to provide a seamless banking experience, emphasizing convenience, transparency, and customer engagement. The platform focuses on catering to the needs of younger, tech-savvy consumers who seek easy-to-use financial solutions.
Overall, Freo Money has quickly established itself in the Indian fintech landscape, leveraging technology to empower users in managing their finances efficiently. Its innovative approach and commitment to customer satisfaction make it a significant player in the growing digital banking sector in India.
However, if you still have doubts about Freo being the right fit for you, just click here and find out more!
Final Thoughts
Although Revolut is not accessible in India, there are still plenty of other options available to assist people in achieving their financial objectives. There are local and global solutions available, each catering to a different desire and set of financial goals.
Having said so, always remember that choosing the best digital bank depends on your personal goals and financial situation, so it’s essential to stay informed about the latest developments and explore the ever-expanding range of financial tools available.
We hope we helped you in your search for the Best Alternatives for Revolut in India.
Why use a digital bank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.
