In today’s fast-paced digital world, managing money efficiently is more important than ever. Slice Bank, in collaboration with North East Small Finance Bank (NESFB), is offering a game-changing zero-balance savings account with up to 9% interest per annum. This means you can save money effortlessly while maximizing your earnings without worrying about maintaining a minimum balance.
Whether you’re a student, a young professional, or someone looking for a high-interest savings account, Slice Bank’s offering could be the perfect choice for you. In this article, we’ll walk you through everything you need to know about Slice Bank’s zero-balance account, its benefits, interest rates, and how you can open one today.
Slice Bank Zero Balance Account
| Feature | Details |
|---|---|
| Bank Partner | North East Small Finance Bank (NESFB) |
| Account Type | Zero-Balance Savings Account |
| Interest Rate | Savings: 100% of RBI Repo Rate (currently 6.25%) |
| Fixed Deposit: Up to 9% per annum | |
| Interest Credit Frequency | Daily |
| Minimum Balance Requirement | None (Zero-Balance) |
| Deposit Insurance | Up to ₹5 lakh by DICGC |
| Account Opening | Fully Digital via the Slice App |
If you’re looking for a high-interest, zero-balance savings account that credits interest daily, Slice Bank’s partnership with NESFB offers one of the best options available today. With up to 9% interest on Fixed Deposits, 100% digital onboarding, and no minimum balance requirement, this account is perfect for students, freelancers, and anyone looking for smart saving options.
Why Choose Slice Bank’s Zero Balance Account?
There are many savings accounts available today, but what makes Slice Bank unique? Here are some reasons why this account stands out:
1. Zero Balance Requirement
Most banks require you to maintain a minimum balance, which can be an inconvenience. With Slice Bank’s zero-balance savings account, you don’t need to worry about penalties for low balances. This makes it ideal for students, freelancers, and young professionals who want flexibility in their savings.
2. High Interest Rates (Up to 9%)
- Savings Account: Earn interest at 100% of RBI’s repo rate, which currently stands at 6.25% per annum.
- Fixed Deposits (FDs): Get up to 9% per annum interest with the option for instant withdrawals when needed.
This is significantly higher than traditional bank savings accounts, which typically offer 2.5% – 4% interest per annum.
3. Daily Interest Credit
Unlike many banks that credit interest quarterly or annually, Slice Bank credits interest daily. This means your savings grow every single day, maximizing your returns over time.
4. Deposit Insurance Up to ₹5 Lakh
Your money is safe! Deposits are insured up to ₹5 lakh under the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India (RBI).
5. 100% Digital & Hassle-Free Account Opening
You can open an account in minutes using the Slice App without visiting a physical bank branch. Everything from KYC verification to interest tracking is handled digitally.
see also: SBI Amrit Kalash FD 2025
How to Open a Slice Zero-Balance Savings Account?
Opening an account is quick and easy. Just follow these steps:
Step 1: Download the Slice App
- Available on Google Play Store and Apple App Store.
Step 2: Sign Up & Complete KYC
- Register with your mobile number and email.
- Complete your KYC (Know Your Customer) verification by uploading your Aadhaar card, PAN card, and a selfie.
Step 3: Upgrade Your Slice Wallet (If Applicable)
If you’re an existing Slice Wallet user, you can seamlessly upgrade to the Slice Savings Account within the app.
Step 4: Start Saving & Earning Interest
- Once your account is verified, you can start depositing money and earning daily interest.
- Set up Fixed Deposits to get higher returns.
see also: How to Earn 7.50% Interest on Post Office FD and Grow Your Savings
Slice Bank Zero Balance Account FAQs
1. Is Slice Bank Safe?
Yes, Slice Bank is partnered with NESFB, an RBI-regulated small finance bank. Your deposits are insured up to ₹5 lakh by DICGC, ensuring safety.
2. Can I withdraw money anytime?
Yes, you can withdraw from your savings account anytime. For Fixed Deposits, there’s an option for instant withdrawals.
3. Who can open a Slice Zero-Balance Account?
Anyone above 18 years with valid KYC documents (Aadhaar & PAN) can open an account.
4. How is interest credited daily?
The interest is calculated based on the end-of-day balance and is credited daily to your account, unlike traditional banks that do this quarterly or annually.
5. What is the maximum deposit limit?
There is no maximum limit for deposits in the savings account. However, large transactions may require additional verification.
6. How does Slice Bank compare with traditional banks?
| Feature | Slice Bank | Traditional Banks |
|---|---|---|
| Minimum Balance | ₹0 (Zero-Balance) | ₹5,000 – ₹10,000 |
| Interest Rate | 6.25% – 9% | 2.5% – 4% |
| Interest Credit | Daily | Quarterly/Annually |
| Digital Banking | 100% Digital | Partially Digital |
