slice

Slice revolutionizes digital banking by combining smart financial tools in one intuitive app. Designed for modern Indian users, it offers a zero-balance digital savings account with daily interest, instant personal loans up to ₹5 lakhs, high-return fixed deposits (7.75% APR), and lightning-fast UPI payments. With automated bill management, spend analytics, and 24/7 support, slice simplifies banking for millennials and professionals seeking flexibility.

Features of Slice

1. Zero-Balance Savings Account: Instant account opening with daily interest credited automatically.

2. High-Yield Fixed Deposits: Secure FDs with up to 7.75% returns and flexible withdrawal options.

3. Instant Personal Loans: Collateral-free loans approved in minutes (₹100 to ₹5 lakhs).

4. UPI 2.0 Integration: Real-time payments and bill settlements with 1-second transactions.

5. Automated Spend Tracking: AI-driven insights to categorize expenses and optimize budgets.

6. DICGC Insurance: Deposits insured up to ₹5 lakhs for added security.

Advantages of Slice

Daily Interest Earnings: Earn at 100% RBI repo rate, even on small balances.

Paperless Processes: Fully digital onboarding for loans, FDs, and account setup.

Competitive FD Rates: Outperforms traditional banks by 0.5-1.5%.

Transparent Loan Terms: No hidden fees; EMI plans tailored to income cycles.

Multi-Platform Accessibility: Seamless experience on mobile and desktop.

Disadvantages of Slice

Limited to Indian residents (no NRI support).

FD tenures capped at 3 years (shorter than banks).

UPI transactions occasionally face downtime during peak hours.

Development Team

Developed by Slice Technologies Pvt. Ltd., a Bengaluru-based fintech founded in 2016. The team combines banking veterans and tech innovators, backed by investors like Tiger Global and Insight Partners. Their focus on API-driven solutions ensures robust security and scalability.

Competitive Products

1. CRED: Focuses on credit card rewards but lacks savings/loan features.

2. Paytm Payments Bank: Offers UPI and bill pay but lower FD rates (~6.5%).

3. Bajaj Finserv: Strong loan options but requires physical documentation.

4. MobiKwik: Targets micro-loans (<₹50k) but lacks daily interest accounts.

Market Performance

Rated 4.4/5 on Google Play (1.2M+ downloads) and 4.6/5 on Apple App Store. Users praise its UX but note occasional delays in loan disbursals. Ranked among India’s top 10 fintech apps in 2023.