These days, there are fintech apps almost everywhere, and you must have come across one of the popular platforms of today, called Slice SFB.
And if you haven’t, let’s take you through what it’s all about.
Now, imagine a service that offers the speed of fintech apps and the reliability of traditional banks. Slice Small Finance Bank (SFB) delivers this experience at the comfort of your home, seconds after you install it. The app has grown successfully in the Indian market, such that it is redefining how Indians interact with money.
As per the Reserve Bank of India (RBI) listing, the Slice SFB is a scheduled bank under the RBI Act, 1934.
Let’s further understand how Slice came into existence, its journey and what it is today for users across India.
The Evolution of Slice SFB
Originally a fintech-based product, the Slice app merged with the Northeast Finance Bank or NSEFB, to form what you call the Slice SFB. This was approved and notified by the RBI on 27th October, 2024. The whole aim of the merger was to expand financial inclusion and provide a smooth banking experience.
Previously, the NSEFB had its primary focus on providing banking services to those with limited access to formal finance. Slice was a fintech company that simplified credit and digital payments with the help of technology.
As per Economic Times, the Slice SFB has generated profits every month and plans to close the Financial Year 2025-2026 with an overall profit. Within the next 5 years, the app may transition into a universal bank, says its founder Rajan Bajaj.
Now, let’s understand what Slice SFB offers customers.
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What Does Slice SFB Offer?
Compared to Slice as a separate entity, here’s what you can expect from Slice SFB:
- Savings and current accounts for retail customers and businesses.
- Loans for individuals and businesses (MSMEs or Micro, Small and Medium-sized Enterprises).
- Extra security for customers for all deposits up to ₹5 lakh, as insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
- Fixed deposits with interest rates up to 8.5%.
- Co-branded credit cards and other digital banking products.
Slice SFB Interest Rates 2025
Citizens of all age groups, that is, including the elderly, can access Slice SFB at low interest rates. Here are the interest rates offered at Slice SFB:
|
Type |
Interest Rate (% p.a) |
Tenure |
|
Savings Account |
5.5% |
Nil |
|
Fixed Deposit |
Up to 8.5% |
10 years |
Note: Interest rates are subject to change.
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Features and Benefits of Slice SFB
Here are the top benefits and key features of Slice SFB that you need to be aware of:
- Up to a 5.5% interest rate on a savings account, which is credited daily.
- Government-insured deposits offer complete safety for your money.
- Zero paperwork, minimal documentation and a completely digital process.
- 24×7 customer support to address all your queries and concerns.
- Access to Slice Credit Card with no annual or joining fees.
Role of Slice SFB In Financial Performance & Growth
Given the continued growth of Slice SFB, let’s have a look at its impact on users’ financial performance and growth. Here’s what you need to know:
- Quick access to credit: Slice SFB, being a digital platform, approves and disburses small loans in a few minutes based on your financial profile. This helps you to manage urgent needs for money or any unexpected expenses.
- Low borrowing cost: Interest rates are competitive compared to informal moneylenders, which reduces the long-term repayment burden.
- Wide financial access: Since Slice has merged with NSEFB, the branch network has expanded, which allows people from rural areas to easily access the app’s banking services.
- Promotes saving: The high-interest savings accounts and fixed deposits enable users to grow their money safely over time.
- Instant emergency support: Offers quick loans that become helpful in medical or personal emergencies without having to liquidate assets.
- Improves credit score: Timely repayment of loans and credit products used from the app can increase your credit score and benefit you in the long run while applying for financial products from banks.
In addition to all these and the best part is that it encourages youngsters to save money and earn more. That is, individuals above the age of 18 can apply for loans on Slice SFB and work towards improving their finances with better spending habits.
Exploring More Loan Options with Buddy Loan
While Slice SFB offers quick and convenient loans through its app and branches, it is always wise to compare all the available options before finalizing your decision.
Buddy Loan, being a loan aggregator, allows users to view offers from multiple banks and NBFCs in one place. These platforms make it easier to compare interest rates, loan amounts and repayment terms without affecting the borrower’s credit score.
Comparing your options provides more choice, a competitive deal and helps you borrow in a way that suits your financial needs.
Conclusion
With the steady growth of Slice SFB in India’s banking landscape, the combination of modern technology and traditional banking into one platform has made it helpful for many.
By offering quick loans, secure savings options and wider access to banking in smaller towns, the app not only supports customers in improving their financial health but also contributes to the country’s financial inclusion goals.
At the end of the day, as long as you manage your finances responsibly and rely on the right lender, digital apps can be a convenient solution to your quick need for funds.
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