Slice Small Finance Bank Credit Card Against FD

What is a Slice Small Finance Bank Credit Card Against FD?

A Slice Small Finance Bank credit card on FD works like a regular unsecured credit card, offering the same convenience for everyday spending. The linked fixed deposit continues to earn attractive FD interest rates ranging from 3.50% to 7.75% per annum, depending on the tenure. Senior citizens receive an additional 0.25% on their deposits. Formerly known as North East Small Finance Bank, Slice Small Finance Bank provides this secured credit option to help customers access credit while their savings grow.

Slice Small Finance Bank Credit Card Against FD Features

Slice Small Finance Bank offers FD-backed credit cards designed for easy access to credit with simple eligibility conditions. Key features of this facility include:

• Builds Credit Score: Timely repayments on the Slice Small Finance Bank Credit Card on FD help establish and improve your credit score.
• No Income Documents Needed: The card can be obtained without submitting income proof or having a prior credit history, offering convenient access to credit for a wider range of customers.
• Flexible Credit Limit: The credit limit is set as a percentage of the fixed deposit amount, providing flexibility based on the deposit value.
• Zero or Low Processing Charges: The card is generally issued with minimal or no processing fees, making it a cost-effective credit option.
• Instant Issuance: Customers can get quick approval and card activation once the fixed deposit is created and lien-marked with the bank, as no additional documentation is required.

Pros and Cons of Slice Small Finance Bank Credit Card Against FD

The table below highlights the key advantages and limitations of the Slice Small Finance Bank Credit Card on FD:

Application Process for Slice Small Finance Bank Credit Card Against FD

Customers can apply for a Slice Small Finance Bank Credit Card on FD online and offline. The process is simple and requires only basic documentation and verification. Below are the detailed steps for both application methods:

Online Application Process

You can conveniently apply for the credit card anywhere through the bank’s digital platform. Follow the steps below:

• Visit the Bank’s Website: Access the credit card section and the official Slice Small Finance Bank website.
• Choose FD-Backed Card Option: Select the Credit Card Against Fixed Deposit option and proceed to apply.
• Open or Link FD: Create a new fixed deposit or link your existing one with the bank.
• Fill Out the Application Form: Accurately enter your personal, contact, and deposit details.
• Upload Required Documents: Provide scanned copies of KYC documents such as PAN, Aadhaar, and address proof.
• Verification and Card Issuance: Once details are verified, the card is approved and dispatched to your registered address.

Offline Application Process

Customers who prefer an in-person approach can apply by visiting the nearest branch. The steps are as follows:

• Visit a Branch: Go to your nearest Slice Small Finance Bank branch and request the FD-backed credit card form.
• Open or Maintain FD: Start a new fixed deposit or use an existing one as collateral.
• Fill in the Application Form: Provide accurate personal and FD details.
• Attach KYC Documents: Submit photocopies of PAN, Aadhaar, and address proof, along with a passport-size photo.
• Submit for Verification: Hand over the completed form and documents to the bank representative for review.
• Card Approval and Dispatch: After successful verification, the card is processed and sent to your address within a few working days.

Closure Process for Slice Small Finance Bank Credit Card Against FD

If you wish to close your Slice FD-linked credit card, follow the process below:

• Clear Outstanding Dues: Ensure all card payments and fees are fully settled.
• Submit a Closure Request: Visit a Slice Small Finance Bank branch, use the Slice app, or call customer support to request card closure.
• Lien Release: Once the dues are cleared, the lien on the FD will be lifted within a few working days.
• Adjustment from FD: If any dues remain unpaid, the bank may recover them directly from your fixed deposit amount.
• Post-Closure FD Continuation: After closure, the FD earns interest and remains active till maturity.

Who Should Consider a Slice Small Finance Bank Credit Card Against FD?

Customers who prefer secured credit with minimal formalities can choose a Slice Small Finance Bank Credit Card on FD. It is designed for:

• Students and Homemakers: Without regular income proof, seeking credit access while their deposit continues to earn interest.
• First-Time Credit Users: Aiming to build or strengthen their credit profile through responsible card usage.
• FD Holders Seeking Liquidity: Needing short-term credit access without closing their fixed deposit.
• Applicants Seeking Low Documentation: Looking for a quick approval process with minimal paperwork.

Key Takeaways

The Slice Small Finance Bank Credit Card on FD lets customers access credit while their fixed deposit continues to earn interest. The bank offers FD interest rates ranging from 3.50% to 7.75% per annum, depending on the tenure. Formerly known as North East Small Finance Bank, Slice Small Finance Bank provides this option online and offline. The process involves minimal documentation and helps customers use credit while their savings remain intact and grow.