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Slice Wallet Upgrade To Savings Account

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You can enable fd and rd deposits, getting 9% for 1.5 and 3 years
But rd is not rd like
It is more like recurring fd investment flow
I have enabled investment for 10k
It created an autopay mandate until 2029 every month
Though you can activate and deactivate mandate as needed
Useful as no need to cancel the entire mandate if some issues arise
 
Has anyone upgraded to a savings account? What are the procedures? What differences have you noticed in the App? Has the UPI ID changed, or does the old one still work? Is the UPI functionality as seamless as Slice?
 
SMS91 said:
Has anyone upgraded to a savings account? What are the procedures? What differences have you noticed in the App? Has the UPI ID changed, or does the old one still work? Is the UPI functionality as seamless as Slice?
Click to expand...
A video kyc is done
Nothing else is required
No difference - wallet is closed immediately and all money is transferred to account immediately
Maybe changed, cannot confirm as did not use upi from slice before that much
Yes
 
This deposit account is highly competitive compared to others because of its strong product appeal. I wonder if this will lead to a rush of customers.

Issuing a credit card requires going through regulatory procedures with bodies like the RBI, so I don't see it happening quickly. However, if the bank has been preparing for this since the merger last year, could it be expedited?

Ideally, I'd love it if they could issue it by the end of March.
 
gunosiro said:
This deposit account is highly competitive compared to others because of its strong product appeal. I wonder if this will lead to a rush of customers.

Issuing a credit card requires going through regulatory procedures with bodies like the RBI, so I don't see it happening quickly. However, if the bank has been preparing for this since the merger last year, could it be expedited?

Ideally, I'd love it if they could issue it by the end of March.
Click to expand...
Could lead to a rush; many of genz demographic use the app, so phased release may lead to increased enrollment
As for cc, the merged body was personally being overseen by previous governor of rbi; he was guiding ceo of slice on how to operate and proceed with different matters
Cannot say how far along is the approval process now, or if they now have the same support from rbi, with the new governor in town
 
varun__goel_ said:
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.


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. 6.5% p.a. Interest Rate
    • A flat 6.5% 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. Virtual Debit Card
    • Users will be issued a virtual debit card for online transactions.
    • No physical debit card is being offered yet.
  5. Cheque Book on Request
    • A cheque book is not issued automatically but can be provided upon request.

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.


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.


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.

Important Links:
Click to expand...
can anyone tell me at the time of vkyc do we have to remain present in address?
my delivery address different than where i am residing now.
 
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