Slice Savings Account (Wallet Discontinued)

[varun__goel_]

Slice has introduced a new feature allowing selected users to upgrade their Slice Wallet into a Savings Bank Account.This move follows its merger with North East Small Finance Bank.

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Key Features of the Upgraded Savings Account​

1. Zero Balance Account
   • You won’t need to maintain a minimum balance in this account.
   • There are also no Annual Maintenance Charges (AMC), making it a free-to-maintain account.
2. 6.25% p.a. Interest Rate
   • A flat 6.25% annual interest rate, which is quite attractive compared to the 3-4% most savings accounts offer.
   • Interest is credited daily.
3. No Charges (for now)
   • As of now, there are no account opening fees or hidden charges.
4. Debit Card
   • Users will be issued a virtual Rupay Classic debit card for online transactions.
   • Physical debit card - Rs.299 issuance charges.
5. Cheque Book on Request
   • A cheque book is not issued automatically but can be provided upon request.

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Important Note: Slice Wallet Will Be Closed​

Once you upgrade your Slice Wallet to the Savings Account, your Slice Wallet will be permanently closed. This is an irreversible process.

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Who Can Upgrade?​

The upgrade is not available to everyone. It’s currently being offered to selected users based on Slice’s internal criteria. If you’ve received the option, you’ll see it in your Slice app.

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Why This Upgrade Could Be a Good Move:​

• A higher interest rate compared to most savings accounts.
• A truly zero-balance account with no hidden fees (as of now).
• Daily interest payouts, which could maximize your savings.

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Important Links:

• https://www.sliceit.com/savings-terms/
• https://www.sliceit.com/ppi-closure-terms/

Update:
New users do not have option for wallet services. Bank account will be opened directly. No change for existing wallet customers as of now.

 

[Aniket]

Acha traika hai Customer Aquisition ka 👀 Daily Int Payout & interest rate 6.5% 😈

Devaluation loading...

 

[Aniket]

Is it really? Flat interest rate of 6.5% or slab based?

 

[varun__goel_]

Is it really? Flat interest rate of 6.5% or slab based?

Flat rate. Confirmed from customer care.

 

[Aniket]

Flat rate. Confirmed from customer care.

View attachment 79184

Yes mentioned on bank's site as well wef 19 Dec.

Why someone will upgrade? Wouldn't be better to directly open the account without upgrading/ converting, who want to keep Pre-paid/Wallet A/c?

Update: Direct opening of an A/c is not possible PAN India, directly from NESF.

Actual name/ variant of the account, if wallet gets upgraded into SA?

 

[varun__goel_]

Why someone will upgrade? It wouldn't be better to directly open the account without upgrading/ converting, who want to keep Pre-paid/Wallet A/c.

IG NESFB isn't offering account opening facility online.

Actual name/ variant of the account, if wallet gets upgraded into SA?

Ye slice ko bhi nhi pta hoga🤣

 

[Aniket]

IG NESFB isn't offering account opening facility online.

Pata nahi Voice Call se account khol raha hai🤡🤣

May be, resources kam hai merger karke bhi, branch kitna hi hoga 👀

Ye slice ko bhi nhi pta hoga🤣

Haan ho sakta hai 🤣 iske madhyam se koi dusra hi A/c Variant khol raha hoga nahi toh BSBDA wala hai bas and institutional, zero bal.

 

[Centurion_wala]

Have been receiving this offer for a long time now:
Any way to make it go away?

 

[imdjay]

I have been getting this option for a week and so.
Can anyone confirm the experience after the upgrade?

Does the payment flow stay the same? without entering the pin?

 

[yobro]

Acha traika hai Customer Aquisition ka 👀 Daily Int Payout & interest 6.5% 😈

Devaluation loading...

No bank can survive at 6.5%.
Especially a bank like NESFB whose financial condition is so bad lot of NPA.

They will gradually reduce interest rates.
I remember IDFC also used to offer 6% for upto 1 lakh deposits in 2020 but gradually they reduced to 3% today.

 

[yobro]

Pata nahi Voice Call se account khol raha hai🤡🤣
View attachment 79188
May be, resources kam hai merger karke bhi, branch kitna hi hoga 👀

Haan ho sakta hai 🤣 iske madhyam se koi dusra hi A/c Variant khol raha hoga nahi toh BSBDA wala hai bas and institutional, zero bal.

This bank branches are mainly concentrated in North-east India.
Hardly any branch out of North East.

 

[yobro]

I have been getting this option for a week and so.
Can anyone confirm the experience after the upgrade?

Does the payment flow stay the same? without entering the pin?

Any method to get this option.
I wish to open account.

 

[Aniket]

This bank branches are mainly concentrated in North-east India.
Hardly any branch out of North East.

Yes that's why updated.

Update: Direct opening of an A/c is not possible PAN India, directly from NESF.

Serviceable in:

 

[Aniket]

No bank can survive at 6.5%.
Especially a bank like NESFB whose financial condition is so bad lot of NPA.

They will gradually reduce interest rates.
I remember IDFC also used to offer 6% for upto 1 lakh deposits in 2020 but gradually they reduced to 3% today.

Yes, correctly said.

They way IDFC is giving payout if interest on monthly basis, wish NESFB continues to give daily as announced few days ago, atleast 3-3.5% in future.

 

[iSayyed]

I've been using Slice for UPI payments, and I got a good cashback % so far. It appears to be coming to an end. Since last week, unable to load payment to wallet using CC. It's weird, and I was clueless. Now I got an answer. Thank you, OP! Time to close!

 

[akshayhs]

Thanks for this, I have a friend who works for Slice. Will find out additional details from him and keep it to myself! /s

 

[varun__goel_]

Any method to get this option.
I wish to open account.

I guess they are offering to old customers with high txns.
Though there is nothing said as of now officialy by slice .
Try to DM them on X and get the option enabled

 

[varun__goel_]

Does the payment flow stay the same? without entering the pin?

The only reason why I have not opened account till now.
Slice is a convenient UPI wallet and always work flawlessly.

Keeping the wallet active with the account would have been better.

 

[rimtesh]

i got it but not going to open an account, their current app ticked all my needs except one but now i am not sure in what direction their app is heading to

 

[imdjay]

The only reason why I have not opened account till now.
Slice is a convenient UPI wallet and always work flawlessly.

Keeping the wallet active with the account would have been better.

True. for same reason, I am not doing it.
Waiting for someone to share the experience first.
I usually keep a high amount in my Slice wallet. So getting interest with savings account will make more sense.