Many of you have been asking how slice can give 100% of RBI’s repo rate on savings when most other banks offer only 2.5%. And whether it is sustainable? Here’s the answer and why it matters: It’s true that most banks give customers only 2.5% interest rates on money parked in savings accounts. The risk-free cost of money in India is what the government pays on its securities – treasury bills of 3 months or 12 months. The repo rate set by RBI during monetary policy meetings broadly aligns with this. Any return below the policy rate usually reduces the value of your money. If you want this risk-free return as a consumer today, you can't easily get it through a simple bank account. You'd have to invest in mutual funds that park money in government treasuries, but that's not very simple. We're bridging this gap. Customers should be able to access the true value of their money through something as simple as savings account. We're providing the returns that government securities offer plus the simplicity and instant access of a bank account. As a bank, we earn through lending. Our idle funds stay at or near this risk-free cost of money. When we lend, we earn a spread on top of that. The difference is how we do it. Technology keeps our operating costs low. We’ve learned how to be efficient from some of the best banks globally and are applying those learnings to India’s unique geography and regulatory framework. We expect a long-term positive impact on net interest margins. For a typical bank, savings account balances are the smaller portion of deposits, 60-70% of retail deposits are in fixed deposits with higher rates. The transparency and fairness we bring means customers are choosing to keep more money in savings accounts with us. This leads to a better cost of funds for us. Most consumers in India don't realize that leaving money in their savings account can be detrimental to their wealth. When banks don’t offer inflation-beating rates, customers are essentially losing purchasing power every single day. Most importantly though, they also don't realize that they should expect more from their banks. Traditional banks have been giving depositors just 50% -- if not lower -- of the RBI repo rate for decades, and we've accepted it as normal. That's not right. Customers in India lose more purchasing power from some ~$800 billion sitting in low-interest savings accounts than they do from the ~$400 billion of physical cash in circulation. The repo rate represents the true cost of money in our economy – why should savings customers get only half of that? This isn't just about customer acquisition, though transparency does attract customers. It's about establishing a new baseline for what banking should be. When you make people understand that their ₹10,000 should earn ₹600 annually instead of ₹275 (and we deposit the earned interest daily), you're not just giving them better returns – you're telling them to value their money differently. The digital-first approach naturally enables both urban and rural penetration at lower costs than traditional models. But the real purpose is simple: demonstrating that banking can be both profitable and fair.

I accidentally entered my UPI pin as amount while paying for auto and thus I lost ₹9669😭😭😭

Minimum purchase amount so high for broke people. Idea: 'sparks for broke' section should be introduced with no minimum purchase amount. Even less cashback will work. Thank me later 😎

I think slice founder is fond of Cats 🐈 ❤️

More than 5 million people have opened a slice savings account in the past year. All of them earn 100% of the repo rate daily, 5.25% p.a. right now Today, we’re rolling out slice atom, our newest addition to slice savings account, because savings is much more than expenses 😸 Your savings hold much more than spending money. It's your emergency buffer, your next trip, your goals, your spare change. We are unbundling it for India, so you have full control and clarity over your money You split your one balance into separate atoms, one for each thing you care about. The money in an atom keeps earning the same 5.25% as the rest of your account. You can take it back the moment you need it, no penalty, and it lands in your main balance within seconds, ready for UPI transactions or a transfer An atom can fill itself, too. Set it to take in a fixed amount every day, week or month, or to round your spending up to the nearest ₹10 and quietly set the difference aside Millions of people trust slice with their savings now. People work hard for that money. So the least we can do is keep paying close attention to what they actually need. atom meets one of those needs!

₹1,000 direct cashback 9,230 monies @slicebank 🫡

Last fiscal year was a real turning point. First full year as a bank, first full year of profit We are grateful for the trust and the opportunity to serve and solve for your problems A lot more to do

Can we get some more sparks for Flipkart or Amazon?