Most important terms and conditions (MITC)
slice credit card
These most important terms and conditions (MITC) set out the key features, responsibilities, and obligations related to your use of the slice credit card issued by slice small finance bank ltd.
This MITC should be read along with the cardholder agreement, mobile banking terms, and any other applicable terms and conditions as notified by the slice from time to time.
A) Fees and charges
| Fee type | Amount |
| Card Membership Fee (excl. GST) | |
Joining fee | Nil |
Annual membership fee | Nil |
Card replacement fee | Up to ₹300 for every instance |
Cash Advances Charges | |
Bank transfer from credit limit | 2.5% of the transaction amount or ₹25, whichever is higher |
| Service Charges (excl. GST) | |
Rent payments | 1% of the transaction amount or ₹10, whichever is higher |
Education payments via third party apps | |
Online gaming | |
Wallet loading | |
Fuel surcharge | 2% per transaction (min ₹10) on spends above ₹25,000 |
Railway ticket purchase | |
Utility payments | 1% per transaction (min ₹10) on spends above ₹25,000 |
| Finance charges | |
Annual percentage rate (APR) | 42% per annum, after interest-free period ends |
Monthly rate | 3.5% per month, after interest-free period ends |
| Late Payment Fee (excl. GST) | |
| Total Amount Due | Late Fee |
Up to ₹100 | Nil |
₹101 - ₹500 | ₹100 |
₹501 - ₹1,000 | ₹500 |
₹1,001 - ₹5,000 | ₹600 |
₹5,001 - ₹10,000 | ₹750 |
₹10,001 - ₹25,000 | ₹900 |
₹25,001 - ₹50,000 | ₹1,100 |
Above ₹50,000 | ₹1,300 |
Note: GST is applicable on all fees, interest, and charges as per prevailing tax laws. GST once levied will not be reversed
(i) Joining fees for primary cardholder and annual membership fees
We do not charge any joining or annual membership fees for cardholders, allowing easier access to credit facilities without any upfront or recurring costs, thereby removing barriers to card ownership and use. However, slice reserves the right to levy renewal fees if the cardholder opts to renew the slice credit card upon its expiration. A card replacement fee of up to ₹300 plus GST will be charged for each re-issuance of a physical card. The exact fee may vary based on the type of card material.
| Fee type | Amount |
Joining fee | Nil; No upfront costs for card issuance |
Annual membership fee | Nil; No recurring maintenance charges |
Card replacement fee | Upto ₹300 plus GST per instance |
(ii) Bank transfer fee
We provide cardholders with the option to borrow funds directly from their available bank transfer limit into their savings bank account via the slice app. This facility offers convenient access to funds for various purposes.
Availing bank transfer service has a flat fee that is higher of either 2.5% of the transaction amount or ₹25. The cardholder can repay the borrowed amount either during the bill settlement cycle of their slice credit card or by making a prepayment before the amount is billed.
If the cardholder repays the full borrowed amount by the due date as part of their next statement, no finance charges (or interest charges) will apply to the transaction, offering an interest-free borrowing option for short-term financial needs when repaid on time. Otherwise, bank transfer advances attract finance charges at the same rate as revolving credit, calculated from the date of drawdown until full repayment. All fees, charges, and terms are subject to change with 30 day prior notice, which will be communicated through appropriate channels as stated in this MITC.
The applicable charges and the due amount will be reflected in the respective month's bill/statement based on the chosen repayment option.
| Service | Charge (excl. GST) |
Bank transfer from cash limit | 2.5% of amount or ₹25 (whichever is higher) |
(iii) Service charges levied for transactions
slice reserves the right to impose specific service charges (or surcharge) on certain transaction categories of the credit card to promote responsible usage and cover service costs. These charges and fees, which may change from time to time, are payable by the cardholder for services provided by the bank or for any defaults related to the card holder's account. The bank also retains the right to modify, introduce, or adjust any charges or fees as necessary, with prior notice to the cardholders.
For payments related to rent, education, online gaming, and wallet loading, a charge of 1% of the transaction amount or ₹10, whichever is higher applies. Fuel surcharges and railway ticket purchases attract a fee at 2% of the transaction amount or ₹10, whichever is higher, when cumulative spends in a billing cycle exceed ₹25,000. Utility payments are subject to a fee at 1% of the transaction amount or ₹10, whichever is higher, when cumulative spends in a billing cycle exceed ₹25,000.
(iv) Interest-free (grace) period
Your billing cycle starts from 21st of each month until 20th of the following month, with the payment due date on the 5th of the subsequent month. The interest-free credit period may range from 14 to 46 days. However, this period will not apply if the previous month's balance has not been paid in full.
Illustration: Billing Cycle structure
| Billing element | Timeline |
Statement period | Monthly billing cycle: 21 of each month to 20 of next month |
Payment due date | 5 of the next month (minimum of 15 days post statement) |
Interest-free period | Up to 46 days (plus 3-day grace period) |
Illustration: Interest-free (grace) period
For a cardholder with a billing date on the 21st of each month, if purchases are made between 21st July and 20th August, the statement will be generated on 21st August, with the payment due by the 5th September.
This interest-free period will apply only if all previous dues are paid in full and no balance is carried over from prior months.
The interest-free period will be suspended if any portion of the previous statement balance remains unpaid after the due date.
| Purchase date | Interest-free period |
26 July | From 26 July to 5 September: 41 days |
14 August | From 14 August to 5 September: 22 days |
(v) Finance charges for both revolving credit and bank transfer
Finance charges, or interest charges, will be levied at the annual percentage rate on all transactions starting from the date of the purchase, if the cardholder has not paid the total outstanding amount in full. These charges will only apply for the number of days the amount remains overdue. These charges, if applicable, will be levied on the card holder's account until such outstanding balance is paid in full.
If the cardholder carries forward any outstanding amount, including bank transfers, finance charges will be calculated using the end of day balance method and will apply to both carried-forward balances and new transactions.
If the cardholder utilises the revolving credit facility of the slice credit card and pays less than the total outstanding amount due on the monthly billing statement, finance charges will apply to the entire outstanding amount, excluding charges, and will also apply to any new transactions until the previous balance is fully repaid.
If the credit card account is written off due to non-payment, finance charges will continue to accrue until the total outstanding amount is fully paid.
| Charge type | Rate (excl. GST) |
Annual percentage rate (APR) | 42% per annum; Applied on total outstanding balances |
Monthly rate | 3.5% per month |
(vi) Overdue interest charges to be given on monthly and annualized basis
Late payment charges will apply if the minimum amount due is not received by the payment due date. Clear funds need to be credited to card account on or before the payment due date, to avoid late payment charges.
(vii) Charges in case of default
Late payment charges apply when minimum amount due is not received by the payment due date. The structured fee schedule ensures proportionate charges based on outstanding amount.
| Outstanding balance | Late payment fee (excl. GST) |
Up to ₹100 | Nil |
₹101 - ₹500 | ₹100 |
₹501 - ₹1,000 | ₹500 |
₹1,001 - ₹5,000 | ₹600 |
₹5,001 - ₹10,000 | ₹750 |
₹10,001 - ₹25,000 | ₹900 |
₹25,001 - ₹50,000 | ₹1,100 |
Above ₹50,000 | ₹1,300 |
Note: GST is applicable on all fees, interest, and charges as per prevailing tax laws. GST once levied will not be reversed
Illustration: Finance charges calculation
The following illustration demonstrates the method of calculating various charges. Assume that you have paid all previous dues in full and do not have any amount outstanding in your card account. Your statement date is 21st of every month with payment due on 5th of the subsequent month.
| Date | Transaction | Amount | Principal Outstanding After Transaction |
22-Apr | Electronics purchase | ₹10,000 | ₹10,000 |
27-Apr | Clothing purchase | ₹2,000 | ₹12,000 |
21-May | Statement date | Total due: ₹12,000, MAD: ₹600 | ₹12,000 |
12-Jun | Partial payment (late payment) | ₹2,000 (Credit) | ₹10,000 |
16-Jun | Groceries purchase | ₹1,000 | ₹11,000 |
18-Jun | Card payment | ₹9,000 (Credit) | ₹2,000 |
Interest Calculation for Statement dated 21 June.
Interest calculated = (POS × 42% per year × number of days) ÷ 365
- 22 – 26 April: ₹10,000 for 5 days → ₹57.53 interest
- 27 April – 20 May: ₹12,000 for 24 days → ₹331.40 interest
- 21 May – 11 June: ₹10,000 for 22 days → ₹253.15 interest
- 12 June – 15 June: ₹11,000 for 4 days → ₹50.63 interest
- 16 June – 20 June: ₹2,000 for 5 days → ₹11.51 interest
Statement components for 21 June:
- Finance charges: ₹704.22
- Late payment charges: ₹900
- GST @ 18% on finance charges and late payment charges: ₹288.76
- Total principal outstanding: ₹2,000
- Total amount due: ₹3892.98
Illustration: Finance charges when only MAD is paid
The following illustration demonstrates the method of calculating various charges if you only pay minimum amount due of a statement. Assume that you have paid all previous dues in full and do not have any amount outstanding in your card account at the start. Your statement date is 21st of every month with payment due on 5th of the subsequent month, and includes a interest-free grace period of 3 days.
| Date & Action | Description | Balance Impact | Interest |
25 March– Purchase | ₹20,000 spent on electronics | ₹20,000 debit | ₹0 |
21 April– Statement Generated | Statement with Total Due: ₹20,000; MAD: ₹1,000 | ₹20,000 due | ₹0 |
05 May– MAD Paid | User pays only ₹1,000 | ₹1,000 credit; ₹19,000 revolved | ₹0 |
21 May– Statement Generated | Interest on ₹20,000 from 21 Apr to 5 May (15 days) and ₹19,000 for 5 May – 20 May (16 days) | ₹19,000 + ₹345+ ₹350= ₹19,698 due | ₹695 |
05 June– Full Payment | User pays ₹19,695 in full | ₹19,695 credit | ₹0 |
21 June– Statement Generated | Residual interest from 21 May – 5 June (16 days on ₹19,000) | ₹350 due | ₹350 |
Statement components for 21 April:
- Finance charges: ₹0
- Late payment charges: ₹0
- GST @ 18% on finance & late payment charges: ₹0
- Total principal outstanding: ₹20,000
- Total amount due: ₹20,000
Statement components for 21 May:
- Finance charges: ₹695
- Late payment charges: ₹0
- GST @ 18% on finance & late payment charges: ₹125
- Total principal outstanding: ₹19,000
- Total amount due: ₹19,820
Statement components for 21 June:
- Finance charges: ₹350
- Late payment charges: ₹0
- GST @ 18% on finance & late payment charges: ₹63
- Total principal outstanding: ₹0
- Total amount due: ₹413
Illustration: Bank transfer charges calculation
Assume a cardholder requires immediate funds and chooses to transfer ₹20,000 from their credit limit to their bank account through the slice app on 15 July.
| Date | Transaction Charges |
15-July | Bank transfer from credit limit: ₹20,000 |
15-July | Transaction fee charged: ₹500 (2.5% of ₹20,000) |
15-July | GST on transaction fee: ₹90(18% of ₹500) |
21-July | Statement generation: Transfer appears in statement |
23-July | Payment due date: Customer pays full statement amount |
- Scenario A: Full repayment with next statement: If the cardholder pays the entire statement amount (₹20,590) by 5 August no Finance charges or Interest will be levied on the bank transfer amount.
- Scenario B: Partial payment or carry forward: If the cardholder pays only the Minimum Amount Due or carries forward the balance, Finance charges or Interest at 3.5% per month will apply on the outstanding transfer amount from the transaction date until full repayment.
B) Drawal limits
(i) Credit limit
slice will determine the cardholder's credit limit at its sole discretion. The credit limit will be communicated to the cardholders through multiple channels, including the welcome kit, monthly statements, and the slice app. The approved credit limit represents the maximum available credit for all transactions, including purchases, bank transfers, cash advances, and merchant transactions.
Cardholder’s credit limit will be determined based on a comprehensive assessment that includes factors such as income verification, existing financial obligations, credit history, employment stability, and our internal credit policies and risk parameters. slice reserves the right to adjust the credit limit based on cardholder’s usage patterns, payment behavior, and periodic account reviews.
(ii) Available credit limit
The credit limits are communicated to the cardholder at the time of card delivery and are also included in the monthly statements available on the slice app. The available credit limit at the time of statement generation will be provided as part of the monthly statement. We will periodically review the cardholder's account and may reduce the credit limit based on bank’s internal criteria. In such cases, we will promptly notify the cardholder in writing, including the reason for the reduction.
Cardholders seeking to have their credit limit increased can do so by reaching out to official support channels via the slice app, IVR or email. slice, at its sole discretion and based on the cardholder's latest financial obligations and income, may increase the credit limit with prior consent of the cardholder.
(iii) Cash advances limit
Your cash advance limit will be equal to your credit limit up to ₹2,00,000 and then fixed at ₹2,00,000. This follows the structure of minimum of ₹2,00,000 or your approved credit limit, whichever is lower.
| Credit limit range | Cash advances limit |
Up to ₹2,00,000 | 100% of approved credit limit |
Above ₹2,00,000 | Capped maximum amount of ₹2,00,000 |
The bank transfer facility currently offers direct credit to your savings account through the slice app.
C) Billing
(i) Billing statements - periodicity and mode of delivery
We will generate and send a monthly billing statement for your credit card account when there has been any transaction activity or applicable charges during the billing period. The statement will reflect all debits and credits since the previous cycle and will be delivered to your registered email ID and WhatsApp. You will have a one-time option to change your billing cycle by contacting customer support through authorised channels. Cardholders are advised to make payments only through modes approved by the bank.
| Delivery method | Processing time |
Electronic statements | 24-48 hours; via registered email |
slice app | Real-time |
(ii) Minimum Amount Due (MAD)
The slice credit card allows cardholders the flexibility of revolving credit, where you can choose to pay either the full outstanding amount or a portion of it. To maintain your account in good standing, you must pay at least the Minimum amount due or MAD by the payment due date. The MAD is calculated using a structured formula designed to ensure responsible repayment behavior while covering key obligations on the account.
MAD = Total GST + EMI installments + 100% of fees and charges + 100% of finance charges + 5% of (retail spends + bank transfer).
However,
- In cases where MAD value is calculated as per the aforementioned details falls below or equal to Rs 200, the MAD value will be charged as Rs 200/-
- Where the statement value of Total Amount Due (TAD) is Rs 200 and lower, MAD will be equal to TAD.
Illustration: Minimum Amount Due calculation
Assume the following account status for a statement generated on 21 August:
| Component Amount | Inclusion rate |
Credit limit: ₹2,80,000 | — |
Outstanding purchases: ₹38,000 | 5% = ₹1,900 |
Bank transfer outstanding: ₹28,000 | 5% = ₹1,400 |
Finance charges: ₹1,650 | 100% = ₹1,650 |
Late payment charges: ₹750 | 100% = ₹750 |
Other fees: ₹250 | 100% = ₹250 |
GST on charges: ₹513 | 100% = ₹513 |
Minimum Amount Due calculation method:
Minimum amount due = ₹3,300 + ₹1,650 + ₹750 + ₹250 + ₹513 + ₹4,000 = ₹10,463
This amount represents the minimum payment necessary to avoid incurring additional late payment charges and to keep the account in good standing.
Making just the minimum payment each month can lead to your repayment extending over several months or even years, with interest compounding on the outstanding amount and increasing the total cost of repayment.
(iii) Method of payment
slice provides multiple payment channels to ensure convenient and timely settlement for the credit card account.
If you have a savings account with slice small finance bank, you can enable auto-debit to pay the payment due amount directly on the payment due date. The amount will be debited from your account and credited to your card account on the same day.
| Payment method | Processing time |
slice app | Same-day processing. Recommended method with instant confirmation. Supports UPI, debit card, and net banking. |
Auto-debit from slice saving savings account | Processed on the due date set by the cardholder (before Payment due date). Automatic debit from savings account. |
(iv) Billing disputes resolution mechanism
- Cardholders must report any billing discrepancies or raise a dispute/grievance within 30 days from the statement generation date to ensure prompt resolution. The cardholder must also provide any necessary documentation as requested by the slice. If no discrepancies are reported within 30 days of the statement date, the contents of the credit card statement will be deemed accurate and accepted.
- We will investigate the dispute within a maximum period of 30 days and will provide written confirmation of the resolution.
- The cardholder may raise a dispute using any of the methods outlined below for timely resolution. Upon receiving a dispute from the cardholder, we will make reasonable efforts to provide relevant supporting documents, if applicable, within thirty days, in line with the operating rules of the respective card network (Rupay). GST charged on fees, interest, or other charges will not be reversed in case of dispute.
- During the investigation period, the cardholder shall remain liable to pay the undisputed portion of the outstanding amount by the due date. No interest or penalty shall be levied on the disputed amount while the investigation is ongoing. If the dispute is resolved in favour of the cardholder, the disputed amount will be reversed or adjusted accordingly. If resolved in favour of slice, the cardholder shall be liable to pay the disputed amount along with applicable charges from the original transaction date.
(v) Complete postal address of Bank
slice small finance bank limited
Registered Address: 1st and 3rd floor, Fortune Central, Basistha Road, Basisthapur Bye Lane No. 3, Beltola, Kamrup, Guwahati, Assam – 781028
Correspondence Address: 1st Floor, Ashford Park View, Indiqube, 80 Feet Rd, 3rd Block, Koramangala 1A Block, Koramangala 3 Block, Koramangala, Bengaluru, Karnataka 560034
(vi) Toll free number, email-id and dedicated telephone number for SMS for customer care services, contact details of Grievance Redressal Official
| Service | Contact details & Availability |
Toll-free number | 080-44778250 — 24/7 live support |
Email support | creditcard@slicebank.com — First response in 48 hours |
slice app | Chatbot —24/7 live support |
Grievance redressal officer | Aashish Saxena +91 80 6939 0473 1st Floor, Ashford Park View, Indiqube, 80 Feet Rd, 3rd Block, Koramangala 1A Block, Koramangala 3 Block, Koramangala, Bengaluru, Karnataka 560034 |
D) Default and circumstances
(i) Procedure including notice period for reporting a cardholder as defaulter
- If you do not pay at least the minimum amount due beyond three days after the payment due date, your credit card account will be reported as delinquent by the bank to the Credit Information Companies (CICs), authorized by the Reserve Bank of India (RBI).
- Non-payment of minimum amount due may also lead to discontinuation of your credit card account.
- In the event of default, the cardholder will be sent reminders from time to time for settlement of total outstanding amount on the card account through telephone, email, SMS messaging and engaging third parties to remind, follow up and collect dues. Any third party so appointed shall adhere fully to the code of conduct on debt collection as prescribed by regulatory authorities.
- In case the cardholder fails to make payment of either the minimum amount due or the total outstanding amount due under each monthly billing statement, we shall place a temporary block on the credit card and notify the cardholder of such non-payment and its intention to report the cardholder as defaulter to the CIC’s.
- In the event of a dispute, we shall make suitable amends to the reporting procedure before reporting to the cardholder as defaulter. However, it may also be noted that such disclosure/release of information would be contingent on time available to investigate and settle such disputes raised.
- The bank provides a grace period of three days from the payment due date before classifying the account as overdue.
(ii) Procedure for withdrawal of default report and the period within which the default report would be withdrawn after settlement of dues
In the event of default, the default status will be reported to Credit Information Companies (CICs) and will become part of the cardholder’s credit history. This information cannot be withdrawn. Once the total outstanding dues are settled by the cardholder, we will update the account status with the CICs within a fortnight from the settlement date. The updated credit report will reflect the settlement and the status of the slice credit card account. In cases of compromise settlements or account write-offs, the CICs will be updated accordingly, with the status marked as "settled" or "written off," as applicable.
(iii) Recovery procedure in case of default
In the event of default, you will receive automated reminders via SMS, email, and phone calls during the initial grace period to settle your dues. We may also engage third parties to assist with the collection of outstanding dues, ensuring strict adherence to the RBI's Fair Practices Code for debt collection. All collection activities will be conducted with respect for the cardholder's dignity and privacy, in accordance with specific guidelines governing contact hours, communication methods, and professional conduct.
Additionally, slice reserves the right of lien and set-off, without prior notice, on any monies belonging to the cardholder held in any account or in the bank’s custody.
(iv) Recovery of dues in case of death or permanent incapacitance of cardholder
The total outstanding amount (including unbilled transactions, charges etc) will become immediately due and payable to the bank. Any outstanding in the slice credit card account shall be legally binding and recoverable from the successors, beneficiaries, legal heirs, estate, assigns of the deceased cardholder.
(v) Available insurance cover, if any, for cardholder and date of activation of policy including nomination details
We may provide insurance coverage options in partnership with insurance companies to protect against liabilities arising from lost cards, card fraud, and other specified events. Such insurance coverage will be offered only with the explicit consent of the cardholder, along with the submission of nomination details. When insurance coverage is available, the relevant nomination information will be recorded by the insurance company. Details of the insurance coverage, including the name, address, and contact number of the insurance provider, will be included in every cardholder statement. Specific terms, coverage limits, activation dates, and nomination procedures will be communicated separately via the slice app and will also be accessible on the slice website.
(vi) Important Disclosures on Income Recognition, Asset Classification, and Provisioning (IRACP) Norms
As per applicable regulatory guidelines, cardholders are expected to understand the implications of repayment behavior on the classification of their credit card and related loan accounts. Timely repayment is essential. delays or defaults may result in the account being classified as a Special Mention Account (SMA) or Non-Performing Asset (NPA) under RBI’s IRACP norms. These classification norms apply not only to the credit card account but also to any additional loans or credit facilities availed on the basis of the slice credit card, whether within the sanctioned limit or as a separate facility. The provisions are applicable to individual cardholders and are subject to eligibility criteria defined by the slice. Understanding and adherence to these norms are critical, as non-compliance may affect credit standing and future credit eligibility.
- Dues: Refers to any amount such as principal, interest, fees, or charges that is payable within the time period specified in the sanction terms of the credit facility or by the payment due date indicated in the monthly statement.
- Overdue: Refers to any amount including principal, interest, fees, or charges that remains unpaid beyond the stipulated due date as per the terms of the credit facility. An amount is considered overdue if it is not received by the bank on or before the scheduled due date.
- Appropriation of payments: Any and all payments received towards the card account shall be appropriated by the bank in accordance with its internal accounting and credit guidelines, regardless of any instructions provided by the cardholder or any other person making the payment. As per the current policy, payments are applied in the following order: (i) fees and other charges, (ii) interest, (iii) billed retail transactions, and (iv) unbilled retail transactions. This order of appropriation is subject to change at slice’s sole discretion.
- Age of oldest dues: This is calculated in days from the original due date of the earliest unpaid amount. For example, if the dues from 5th April 2025, remain unpaid as of 6 May 2025, the age of the oldest dues would be counted as 31 days.
- Lending institutions are required to monitor credit card and loan accounts for signs of financial stress. Accounts are classified based on the duration for which payments remain unpaid, as per regulatory norms. This classification has implications on the borrower’s credit standing and may trigger recovery actions as per regulatory guidelines.
- Special Mention Account (SMA): Accounts that show early signs of stress are flagged as Special Mention Accounts. This classification helps in identifying potential repayment issues before they become severe. The classification is based on the number of days payments remain overdue, even if the account has not yet become a Non-Performing Asset.
- Non-Performing Asset (NPA): A credit card account will be treated as non-performing asset if the MAD stated in the monthly statement is not paid in full within 90 days from the payment due date mentioned in the statement.
| Account status | Overdue period | Classification |
SMA-0 | Up to 30 days | Initial overdue status |
SMA-1 | 31-60 days | Developing stress indication |
SMA-2 | 61-90 days | Intensive collection required |
NPA | Beyond 90 days | Non-performing asset |
Illustration: Account status progression subject to non-payment
| Date & Action | What Payment Covers | Status (Oldest Overdue / Classification / Since) |
01.01.2025 — Paid | Full dues of 01.12.2024 | 0 days overdue / Standard / — |
01.02.2025 — No payment | No payment made | 1 day overdue / SMA-0 / 01.02.2025 |
01.03.2025 — Paid partially | Part payment of 01.02.2025 dues (less than MAD) | 29 days overdue / SMA-0 / 01.02.2025 |
01.04.2025 — No payment | No further payment made | 60 days overdue / SMA-1 / 01.03.2025 |
02.05.2025 — Paid only MAD of 01.02.2025 | MAD of 01.02.2025, no other dues cleared | 91 days overdue / NPA / 01.05.2025 |
01.06.2025 — Paid MAD of 01.03.2025 | MAD of 01.03.2025, other dues still pending | 91+ days overdue / NPA / 01.05.2025 |
01.07.2025 — No payment | No dues paid | 120 days overdue / NPA / 01.05.2025 |
01.08.2025 — Paid in full | Cleared all past dues (01.02 to 01.06) | 0 days overdue / Standard / 01.08.2025 |
01.09.2025 — No payment | No dues paid | 1 day overdue / SMA-0 / 01.09.2025 |
05.10.2025 — Paid late | Full payment of 01.09 dues | 0 days overdue / Standard / 05.10.2025 |
E) Termination or revocation of card membership
(i) Procedure for surrender or closure of card by cardholder
Cardholders may request closure of their slice credit card through multiple channels including helpline 080 4831 8326 email creditcard@slicebank.com website or through the slice app. We shall process such requests within seven working days, subject to payment of total outstanding amount along with all the applicable charges by the cardholder and we shall confirm closure via SMS or email.
By using the slice credit card, you agree to follow all applicable laws, RBI guidelines, and exchange control regulations. The card must not be used for transactions involving foreign exchange trading, lottery, betting, gambling, cryptocurrencies, or any other virtual currencies. These restrictions are based on regulatory rules that may change from time to time, and it is your responsibility to stay informed. If you violate these norms, you may be held liable under the Foreign Exchange Management Act, 1999 or other applicable laws.
| Condition | Penalty |
Closure within 7 working days after full settlement | No penalty |
Delay beyond 30 working days with no outstanding dues | ₹500 per calendar day until closure |
(ii) Link provided exclusively for the above on the website
A dedicated link for card closure requests is available on the Bank’s website and can be found here.
(iii) Contact details for the cardholder to initiate closure – email-id, dedicated telephone number for SMS, IVRS
| Channel | Contact information Availability |
| Email: cardclosure@slicebank.com — Dedicated for closure requests | |
Phone | Phone: 80 4831 8326 — Dedicated closure line (also accessible via main support number) |
IVR | IVR Option: Available through main line for closure-related queries |
slice app | In-App: Closure request available under Account Settings in the slice mobile app |
- Once a card closure request is raised through authorized channels, all transactions on the card will be blocked with immediate effect. However, any transactions made before the closure date but presented by the merchant afterward will still be billed to the cardholder. These charges must be paid in full.
- Even after the card is closed, payments or refunds can still be credited to the card account. The cardholder remains responsible for clearing any dues incurred prior to closure. If such dues are not paid, we may report the outstanding amounts to credit information companies as per applicable regulations.
- In cases where a credit card remains inactive or unactivated for 30 days from the date of issuance, we will notify the cardholder and request activation or usage within 7 days. If no activity is recorded within this time, the card account will be closed by the slice.
- We continuously monitor credit card usage for unusual or suspicious transaction patterns. If any such activity is detected, the we will attempt to contact you on your registered mobile number to confirm the legitimacy of the transaction. If we are unable to establish contact, or if the transaction appears suspicious, it reserves the right to temporarily block or terminate card usage without prior notice, in order to protect you and prevent potential misuse.
- To ensure compliance with regulatory guidelines, slice’s terms and conditions, and internal policies, we reserve the right to periodically review credit card usage. This includes checking for excessive use beyond the approved credit limit within a billing cycle, repeated transactions at specific merchants, potential collusion with merchants, use of the card for non-personal or business-related purposes, and misuse of offers or programs to accumulate undue rewards, cashback, or other benefits. If any such patterns are observed, we may take immediate action which could include restricting features, revoking benefits, or terminating the credit card. In such cases, the cardholder may be required to provide satisfactory evidence of legitimate usage. Our decision on such matters will be final and binding.
(iv) Procedure for closure of card account if the card has not been used for more than one year
If a credit card remains inactive for over one year, we may initiate closure after notifying the cardholder. In the absence of a response within 30 days, the credit card account will be closed, subject to payment of total outstanding amount along with all the applicable charges as charged under the slice credit card account.
F) Loss, theft, or misuse of card
(i) Procedure to be followed in case of loss, theft, or misuse of card - mode of intimation to card-issuer
We provide multiple 24x7 channels for reporting loss, theft, or unauthorized use of the credit card or PIN, including helpline 080 4831 8326, email creditcard@slicebank.com and/or via the slice app, cardholder are advised to use these channels promptly to ensure timely blocking of the credit card and to minimize liability.
Upon receiving notification of a lost, stolen, or compromised credit card, we shall immediately block the slice credit card to prevent further unauthorized transactions with required formalities to complete within seven working days of such notification. We shall provide confirmation of the credit card being blocked to the cardholder immediately upon successful blocking of credit card.
(ii) Channels for Reporting Unauthorized Transactions and Blocking the Card
| Channel | Contact details |
Website | help.sliceit.com |
Toll-free helpline | 08048329999 - 24/7 emergency service |
slice app | Chatbot(in-app) 24/7 customer support agents available |
(iii) Liability
- slice shall not be held responsible for any transactions, whether online, physical, contactless, or otherwise, carried out on the card account before the loss is reported. The cardholder will be fully liable for all such transactions until the bank receives proper notification of loss or theft. Once the loss is reported through the prescribed channels, the cardholder’s liability for any further unauthorized transactions becomes zero. In addition, the cardholder must report the theft to the police and provide a copy of the police complaint to slice for verification and records.
- The cardholder will be held responsible for any loss resulting from misuse of the card, PIN, or OTP by any person who gains access to them, whether or not with the cardholder’s or any additional cardholder’s consent. If the cardholder is found to have acted fraudulently, they will be liable for the full extent of the losses. Additionally, if the cardholder fails to exercise reasonable care in safeguarding the card or credentials, they may also be held liable for all resulting losses.
- The cardholder must take necessary precautions to ensure the security of the card and any add-on cards. Sensitive information such as the PIN, One-Time Password (OTP), or any other codes issued by the bank should not be stored or recorded in a way that makes them accessible to others. The cardholder is responsible for preventing any unauthorized access, whether through negligence or deliberate sharing.
- slice reserves the right to share information it deems relevant with law enforcement or other competent authorities in the event of loss, theft, or misuse of the card or PIN, without prior notice to the cardholder or any additional cardholder.
- The outlined terms and conditions shall apply to all contactless cards and any transactions carried out using the contactless feature.
(iv) Customer Protection Policy
In case of loss/ theft/ misuse of card, slice shall be guided by the ‘Customer Compensation Policy’ updated on the official slice website which has been formulated based on the RBI circular on Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’ as updated from time to time. (RBI Circular - ref. DBR. No. Leg.BC.78/ 09.07.2005/2017-18 dated July 6, 2017)
G) Grievance redressal and compensation framework
(i) Grievance redressal and escalation process
slice has maintained a structured three-tier grievance redressal mechanism to ensure timely and effective resolution of cardholder concerns and complaints.
| Authority | Contact method |
| Level I | |
Customer service agents (TAT ~ 48 hrs) |
|
| Level II | |
| Grievance Redressal officer (TAT ~ 7 days) |
|
| Level III | |
| Nodal officer (TAT~14 days) |
|
(ii) Compensation framework for unsuccessful or failed transactions, delay in redressal of grievance, delay in closing of account or blocking of lost or stolen cards, etc.
The cardholders are hereby guided by our Customer Compensation Policy to address service failures and ensure customer protection in accordance with RBI regulatory guidelines.
Cardholders seeking compensation for service failures should report the issue through official customer service channels or through the slice app and we will assess each case based on the established compensation framework and provide appropriate remediation as warranted by the circumstances and policy guidelines.
H) Disclosure
slice shall share customer credit information with authorized CICs to maintain comprehensive credit records. This information includes payment history, credit utilization, account status, and demographic details necessary for credit assessment purposes as per applicable law.
If the card account is overdue, we may report such default to CICs or other credit bureaus, with prior intimation to the cardholder. Any updates or corrections to the reported data, including upon receipt of payments towards overdue balances, will be reflected with the concerned credit bureau(s) within a fortnight from the date of payment.
slice operates under the comprehensive regulatory framework established by the Reserve Bank of India, including adherence to the Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (Updated as on 7 March, 2024), fair practices code for lenders, customer protection guidelines, and pricing transparency requirements.
slice maintains board-approved policies for all aspects of credit card operations, ensuring consistent and fair treatment across all customer interactions and service delivery processes. All fees and charges are subject to change within 30 days, and advance notice shall be provided to you through appropriate communication channels as provided herein in the MITC.
slice wishes to inform the cardholders that at its own discretion, the bank will record specific conversations between the cardholder and the representative of the bank, particularly in cases involving complaints, dispute resolution, or recovery-related discussions. These recordings may be retained by the bank for internal records, quality monitoring, or regulatory purposes.
I) Benefits and Features
(i) monies
- “monies” is the rewards currency issued by slice that cardholders may earn through eligible transactions conducted via the slice UPI or the slice credit card. monies function as a unified rewards system within the slice ecosystem and are accrued subject to the terms below.
- Eligibility: monies shall be credited at the rate of 1 monies per ₹1 spent on eligible transactions using the slice super credit card, either directly or via UPI.
- Exclusions from monies accrual: monies shall not accrue for the following categories of transactions, including but not limited to:
- Transactions converted into EMIs;
- Wallet loads;
- Fuel, insurance, rental payments, educational fees, taxes, government services, and online gaming/gambling-related spends;
- Transactions classified under excluded Merchant Category Codes (MCCs).
- slice reserves the right, at its sole discretion, to exclude any cardholder from the monies rewards program, without the obligation to provide prior notice, particularly in cases involving abuse, misuse, or suspected gaming of the rewards system.
- Monies accrued may be revoked under the following conditions:
- If the transaction for which monies were credited is subsequently refunded or cancelled
- If the cardholder fails to pay their credit card bill in full by the payment due date;
- In the event of late or missed bill payments
If monies have already been redeemed and subsequently become ineligible due to reversal conditions, the corresponding value may be debited from the cardholder's subsequent credit card bill as a "reward reversal charge."
- Redemption of monies
- monies may be redeemed for cash, credited to the cardholder’s slice savings account.
- The redemption rate varies depending on the monies balance as per the following slabs.
- Expiry of monies
- monies shall expire if not redeemed within three (3) years from the date of issuance.
- In the event the cardholder voluntarily closes their account with slice, any unredeemed monies shall lapse and be forfeited.
monies Balance | Reward Rate |
Up to ₹3,00,000 | 1% |
₹3,00,001 to ₹5,00,000 | 1.5% |
Above ₹5,00,000 | 2% |
Above ₹5,00,000* | 3% |
Note: The 3% reward rate shall apply only to Cardholders who (a.) Maintain an average quarterly balance of at least ₹5,00,000 in their slice savings account; and (b.) Hold a minimum monies balance of ₹5,00,000, both. The average quarterly balance shall be calculated as the average of End-of-Day (EOD) savings account balances for the prior 90 days (T–1 to T–91).
| Category | MCC Codes |
Fuel | 5541, 5542, 5983, 5172 |
Rent payments | 6513 |
Wallet loading | 6540, 6539 |
Insurance | 5960, 6300, 6381, 3429 |
Education | 8244, 8299, 8211, 8241, 8220, 8249 |
Financial & Non-Financial Institutions | 6012, 6541, 6051 |
Government MCCs | 9311, 9399 |
Agriculture | 0763 |
Online gaming & gambling | 5816, 7995, 7801, 7800, 7802 |
Cash withdrawal | 6010 |
(ii) slicing
- The slicing feature allows cardholders to convert eligible transactions into easy monthly installments (EMIs), helping manage spends more conveniently over time.
- Eligibility: To ensure responsible usage, the slicing option is made available only under specific conditions:
- The transaction amount must be ₹2,000 or more.
- The cardholder must not have any outstanding dues and the dues from the most recent billing cycle (if any) should have been fully paid by the payment due date. Certain types of transactions are not eligible for slicing, also including transactions with few excluded MCCs.
- When eligible, cardholders will be given the option to slice a transaction into EMIs. Currently, cardholders may choose between two repayment tenures — 2 months or 3 months. The details of the EMI repayment schedule for the slicing transaction would be shared with the cardholders via email. This gives cardholders flexibility to spread out their spends without putting immediate strain on their monthly finances.
- sliced transactions are not eligible to earn rewards i.e, monies, even if they would have qualified otherwise.
- While the cardholder may repay a sliced transaction early at any time, there will be no incremental benefit or interest waiver awarded for the same. The full outstanding principal of the remaining EMIs will be payable at the time of foreclosure.
| Category | MCC Codes |
Agriculture | 0820, 0821, 0822, 0823, 0824, 0825, 0763, 0780, 5260 |
Railways | 4111, 4112 |
Transit | 4784 |
Transportation | 4789 |
Telecom | 4814 |
Fuel | 5541, 5542, 5983, 5172 |
Public sector insurance | 6529 |
Property management | 7349 |
Education | 8211, 8220, 8241, 8244, 8249, 8299 |
Government MCCs | 9211, 9222, 9311, 9405, 9399 |
Post Office | 9402 |
Rent payments | 6513 |
Utility payments | 4900 |
Wallet loading | 6539, 6540 |
Online gaming & gambling | 5816, 7800, 7801, 7802, 7995 |
Insurance | 5960, 6300, 6381, 3429 |
| Financial & Non-Financial Institutions 2. Non-financial institutions — domestic money orders 3. Non-financial institutions — foreign currency, travellers cheques & money-order sales (quasi-cash) | 6012, 6541, 6051 |
Cash withdrawal | 6010 |
J) Tap/Scan and Pay- Card transactions in Contactless mode
Cardholders may make payments to merchants by scanning a QR code using UPI. The scan and pay feature is exclusively available on RuPay credit cards. In accordance with RBI guidelines, contactless payments can be made by tapping the card or mobile device, providing enhanced security, faster checkout, and greater transaction control.
The contactless payment limit is ₹5,000 per transaction across all merchant categories in India. Transactions exceeding this amount shall require PIN-based authorization. Cardholders may also opt to make contact-based payments using PIN authorization for transactions below ₹5,000 at any merchant establishment.
K) Sanctioned Credit Limit
This sanctioned credit limit issued to you represents a combined limit for the credit card, including both credit card spending and bank transfer.
Please note that the slice reserves the right to unconditionally cancel this sanctioned credit limit at any time without prior notice. Additionally, we may automatically cancel this credit limit if there is a deterioration in your creditworthiness, in accordance with applicable laws.
L) Customer acknowledgment and acceptance
By activating and using the slice credit card, you acknowledge that you have read, understood, and agree to be bound by these MITC along with the detailed cardholder agreement. You confirm that you have carefully reviewed all fees, charges, interest rates, and terms outlined in this document. You acknowledge that the slice may issue additional terms and conditions relating to the slice credit card, and these shall be in addition to the terms stated herein.
You understand that all examples, illustrations, and calculations provided in this document are for explanatory purposes only and are not guarantees of actual amounts, rates, or outcomes. Actual charges, interest calculations, and fees may vary based on your specific usage patterns, payment behavior, and account circumstances.
You acknowledge that these MITC and the detailed cardholder agreement may be modified by the slice with appropriate notice as required by regulatory guidelines and continued use of the slice credit card after