slice Launches Three Unified Payments Interface (UPI) Banking Solutions Including Repo-linked Savings Account

Key facts

• slice has introduced India’s first savings account linked to 100% of the Reserve Bank of India (RBI) repo rate.
• The savings account features daily interest calculation and credit, no minimum balance requirements, and instant liquidity.
• The slice UPI credit card allows customers to scan and pay at any UPI-enabled merchant using an approved credit limit.
• The UPI credit card offers up to 3% cashback, weekly rewards through slice sparks, and a slice in 3 feature for no-cost Equated Monthly Instalment (EMI) conversion on purchases above ₹2,000.
• The credit card is issued with no joining, renewal, or annual fees.
• slice provides digital fixed deposits with interest rates of up to 7.25% per annum.
• The fixed deposits are insured up to ₹5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
• Rajan Bajaj is the Founder and Executive Director of slice, and Dilip Asbe is the Managing Director and Chief Executive Officer of the National Payments Corporation of India (NPCI).
• slice is a digital-first banking ecosystem based in Bangalore, Karnataka.