Author
LoansJagat Team
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11 Minute
19 Mar 2025
Slice Credit Card – A Complete Guide to Features & Benefits
Let's learn from the example of Arjun, a young professional, who has just received his Slice Credit Card. Here's how his daily expenses became intelligent:
- Cashback Surprise: Arjun spent ₹5,000 on groceries. With the Slice Credit Card, he received 1% cashback, which translated to ₹50 credited back to his account immediately.
- Smart Spending with Slice Pay: Arjun treated himself to a ₹20,000 phone but didn't freak out. He divided the cost into three simple payments of ₹6,667 each using Slice Pay, interest-free for three months!
- Rewarding UPI Payments: Whenever Arjun paid bills of ₹3,000 using UPI, he collected "fires." In a few transactions, he converted them to 2x cashback and earned a bonus of ₹100.
Ultimately, Arjun saved ₹150 (₹50 cashback + ₹100 rewards) while keeping his expenses in check with ease. This is how Slice enabled him to maximise his spending!
The Slice Credit Card is a free-to-use web card with up to 2% cashback, reward points, and three-month interest-free payments. It's ideal for starters, with simple eligibility, and is supported by Visa, SBM Bank, and NBFCs.
What is a Slice Credit Card?
Slice Credit Card is a web card tailored for credit novices, providing cashback on spending with no joining or annual fees. You can earn as much as 2% cashback on every purchase and split your monthly spending into three interest-free payments in three months. The card also allows you to earn Reward Points, which you can redeem in cashback form, and keep tabs on your spending easily via the Slice app.
You must be an Indian citizen, over 18 years old, and salaried or self-employed to qualify. The Slice Credit Card is perfect for a person who wishes to establish credit since it has relaxed eligibility criteria and offers all these amenities at no extra cost. Slice collaborates with NBFCs, Visa, and SBM Bank to provide the card.
Benefits of Slice Credit Card
Here’s information about the benefits offered by Slice Credit Card:
Cashback | Slice Credit Card offers you a maximum of 2% cashback on all your transactions in the form of rewards.
Card Purchases: Receive instant cashback of 1% on transactions of more than ₹100.
Nor will you get cashback for wallet load, repayments, or self-transfer. |
EMAIL | EMI (Equated Monthly Installment) is the amount you pay every month to repay the loan on your Slice credit card.
EMI = [P x R x (1+R)^n] / [(1+R)^n – 1]
P is the amount you borrowed R is the interest rate n is the number of months you have to repay
Suppose you took a loan of ₹90,000 from your Slice credit card for 6 months at an interest rate of 6%. Here's the calculation:
Interest Rate (R): 6% per month (0.06 as a decimal) Repayment Period (n): 6 months
EMI = [90,000 × 0.06 × (1 + 0.06)^6] / [(1 + 0.06)^6 - 1] EMI = ₹15,264 The total interest paid is ₹1,582. This is how the Slice EMI system enables you to pay back your loan in convenient monthly instalments! |
Bill Splitting | Bill Splitting on the Slice Credit Card is a feature where you can split a purchase into three payments to be made in three months without any interest or extra fees.
Make the instalments in the following three months.
Slice card is a "Buy Now Pay Later" (BNPL) card provided by Slice, in partnership with Visa and SBM Bank. It's a cheap card with no joining fee or renewal fee.
It helps you manage your spending by dividing your bills into interest-free payments so that you will not have to pay the entire amount at one time. |
Fuel Surcharge waiver | A fuel surcharge waiver on a credit card is an amenity that eliminates or lowers the additional fee you incur when making purchases with the card at fuel stations.
You might need to spend a minimum amount of money to get the waiver.
Suppose you possess a fuel credit card with a fuel surcharge waiver. You get your vehicle filled with ₹5,000 worth of fuel at a network station. Under normal circumstances, a 2% charge would be an additional ₹100.
Fuel Bill: ₹5,000 Surcharge: ₹100 (2% of ₹5,000) Waiver: ₹100 (waived by the card company)
|
Rent Convenience Fee Waiver | The rent convenience fee waiver on the Slice Super Card saves you up to ₹300 every month on rent paid using PhonePe and NoBroker.
You may have a maximum of ₹300 waived per month. The waiver is for transactions of below ₹10,000.
Convenience Fee: ₹300 (for payments exceeding ₹5,000) Waiver: ₹300 (as the payment qualifies)
|
Charges and Fees on Slice Credit Card
Here's a simple breakdown of the fees and charges for the Slice credit card:
Fee/Charge | Amount |
Joining Fees | ₹0 |
Annual Fees | ₹0 |
Card Replacement | ₹500 |
Cash Withdrawal Fee | ₹50 per transaction |
Late Payment Fee (Statement Balance) | Up to ₹500: Nil ₹501 to ₹2,000 : ₹15 ₹2,001 to ₹10,000: ₹40 ₹10,001 to ₹25,000: ₹100 Above ₹25,000: ₹150 |
Interest (Bank Transfers) | 42% per year |
Interest (Online/POS Spending) | 36% per year |
Penal Interest on EMI | 36.5% per year (if you miss a payment) |
One-time Penalty (First Overdue Day) | ₹500 or 30% of EMI (whichever is lower) |
Eligibility to apply for a Slice Credit Card
To apply for a Slice Credit Card, you must fulfil these conditions:
- Be 18 years or older
- Be an Indian national
- Be salaried or self-employed
- Have a valid Indian address
- Show proof of address and identity
Documents required to apply for Slice Credit Card
To apply for a Slice Credit Card, you will have to provide proof of address and proof of identity.
- For proof of address, you can use your Passport or Aadhaar card.
- For identification, you can provide your PAN card or Voter ID.
How to apply for a Slice Credit Card?
To apply for a Slice Credit Card via the Slice app, follow these easy steps:
- Download the ‘Slice’ app from the Google Play Store or Apple App Store.
- Install the application on your device.
- Open the app choose the Slice Super Card and click on ‘Apply Now.’
- Enter your name, mobile number, PAN card, and Aadhaar card details.
- Enter the OTP received on your registered mobile number and click on ‘Proceed.’
- The app will check your application and show your eligible credit limit.
- If you're happy with it, you'll get a virtual card to use right away.
- A physical card will be printed and mailed to you in a few days.
How to maximise the use of Slice Credit Card?
Here’s a simple table to help you maximise your Slice Credit Card usage:
Strategy | How to Do It |
Use Slice for everyday spending | Make purchases like groceries, dining, fuel, and online shopping through the Slice app to earn cashback rewards. |
Leverage Slice Pay | Use the Slice Pay feature to split large purchases into smaller, more manageable instalments. |
Pay bills on time | Always pay your Slice credit card bill on time to keep a good credit score and avoid extra charges. |
Track your credit usage. | Keep an eye on how much of your credit limit you’re using. Try to keep it low to improve your credit score. |
Take advantage of cashback offers. | Stay updated on Slice’s cashback promotions and deals to earn more rewards. |
Use UPI with Slice | Pay through UPI using your Slice account to earn extra cashback or rewards ("fires"). |
Monitor your credit limit. | Regularly check your credit limit and ask for an increase if needed, based on responsible usage. |
Consider upgrading to the Slice Super Card. | If eligible, upgrade to the Slice Super Card for higher limits and extra benefits. |
Important Things to remember
Some key points to remember are:
- Avoid wasteful expenditure: Don't indulge in impulse buys that exceed your budget.
- Monitor your statement regularly: Specifically, check your Slice statement regularly for inconsistencies or unauthorised transactions.
- Use credit judiciously: Use your credit card judiciously and spend only up to your limit.
Comparison Table:
Here’s a comparison table for the Slice Credit Card and other popular credit cards based on key features:
Feature | Slice Credit Card | HDFC Regalia Credit Card | SBI Card Elite | ICICI Platinum Credit Card |
Annual Fee | ₹0 | ₹2,500 | ₹4,999 | ₹0 |
Cashback/Rewards | Cashback on everyday spending | 1-2% rewards on spending | 2-5% rewards on specific categories | 0.5% rewards on all spending |
Welcome Bonus | ₹500 cashback on the first transaction | 2,500 reward points | 2,000 reward points | 1,000 reward points |
Credit Limit | Based on eligibility (up to ₹10,000) | ₹1,00,000+ | ₹1,00,000+ | ₹50,000+ |
EMI Option | Slice Pay (Installments) | Available on large purchases | Available on large purchases | Available on large purchases |
Free Credit Period | Up to 50 days | Up to 50 days | Up to 50 days | Up to 50 days |
UPI Payments | Cashback on UPI payments | Not applicable | Not applicable | Not applicable |
Additional Benefits | Virtual card for instant use | Lounge access, travel benefits | Airport lounge access, movie tickets | Dining offers, easy EMI options |
Conclusion
The Slice Credit Card is an ideal option for anyone beginning their credit journey. With no annual or joining fees, you can get up to 2% cashback, simple bill splitting, and interest-free payments. And it comes with convenient features such as UPI payment rewards and a fuel surcharge waiver.
Arjun's experience demonstrates how the Slice Card saves money while keeping spending in check. Whether you're shopping daily or paying bills, Slice makes it easy, rewarding, and hassle-free. Apply now and begin making better financial decisions with a Slice Credit Card.
FAQs related to Slice Credit Card
Q1: With which bank is Slice affiliated?
Following its merger with North East Small Finance Bank, fintech firm Slice will rename the bank Slice Small Finance Bank Limited (Slice SFB), according to the notice of extraordinary general meeting (EGM) dated January 27, 2025.
Q2: Is Slice RBI-approved?
Yes, Slice has been approved by the Reserve Bank of India (RBI), as well as the Competition Commission of India (CCI), the Registrar of Companies (RoC), the Regional Director (RD), and the Income Tax Department for the merger.
Q3: Does Slice offer UPI?
Yes, Slice offers a UPI feature that allows users to create a UPI account within the app by linking their bank accounts. This integration is designed to cater to a wider audience, particularly tech-savvy millennials and Gen Z users.
About the Author
LoansJagat Team
We are a team of writers, editors, and proofreaders with 15+ years of experience in the finance field. We are your personal finance gurus! But, we will explain everything in simplified language. Our aim is to make personal and business finance easier for you. While we help you upgrade your financial knowledge, why don't you read some of our blogs?
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