slice UPI Credit Card
slice is a UPI-first credit card issued by slice Small Finance Bank (formed from slice's merger with North East Small Finance Bank), built around paying by UPI and building credit history. It is lifetime-free, links to any UPI app, and earns cashback as "Monies" on QR-code spends — even very small ones, which suits real Indian spending. The realistic earn is about 1%: slice advertises "up to 3%," but that top rate requires very large balances (around ₹5 lakh in unredeemed Monies and ₹5 lakh average balance), so most people should treat it as a ~1% free UPI card. Two genuine standouts: zero forex markup on international online shopping, and "slice in 3," which splits a purchase into three interest-free instalments. Post-merger it reports as a proper unsecured credit card to CIBIL, making it one of the better first cards for building a score.
Key features
What this card is built to do — the highlights that actually matter.
1% on Other
1% base cashback (monies) on eligible spends including UPI/QR. The redemption rate is banded on your monies balance — 1% up to ₹3L, 1.5% to ₹5L, 2% above ₹5L, and 3% only with BOTH ₹5L in monies and a ₹5L average quarterly balance — so essentially everyone earns the 1% band
Zero Forex Markup — but no rewards abroad
No markup on international spends, but they earn nothing on this card, so a purchase abroad costs no extra and returns nothing.
Lifetime Free
No annual fee — ever. Keep this card long-term without any recurring cost.
UPI Linked
Link to PhonePe, GPay or Paytm and earn credit card rewards on UPI payments
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Other | cashback | 1% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | Lifetime free |
| Joining fee (incl. 18% GST) | Free |
| Finance charge (APR) | 3.5% p.m. |
| Forex markup International spends are excluded from rewards on this card, so a purchase abroad costs no extra but earns nothing. A card with a small markup that still earns can work out better overseas. | 0% |
Should you get it?
Best for: First-time card user building a credit score, UPI-first spender wanting a free card for QR payments, Occasional international online shopper (zero forex)
Entry tier — great for first-time and lower-spend users.
Strongest value if you spend heavily on Other ( 1% back).
✓ Pros
- Lifetime-free, UPI-first card for everyday QR payments
- Zero forex markup on international online shopping
- slice in 3 — three interest-free instalments on purchases
- Reports to CIBIL — useful for building credit history
✕ Cons
- The "up to 3%" needs very large balances; realistic everyday earn is ~1%
- No lounge access or premium perks — an entry/credit-building card
- Virtual-first card managed in the slice app
Eligibility & documents
Age
18 –65 years
Min. income
₹15,000 /mo
Employment
Salaried · Self-employed · Student
Documents required
- PAN card
- Aadhaar / valid address proof
- Income proof — salary slips (salaried) or ITR (self-employed)
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Redeem Monies as cashback / statement adjustment in the slice app
🎁 Earn on UPI transactions via linked apps
What your Cashback are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit Direct cash adjustment — no conversion
The concern The advertised "up to 3%" needs roughly ₹5 lakh in unredeemed Monies and ₹5 lakh average balance, so the real everyday earn is ~1% — fine for a free first card, not a rewards engine.
The bottom line
The slice card is an appealing zero-fee entry point for users focused on UPI spending, offering a dependable ~1% effective return on merchant scans, zero forex fees on cross-border e-commerce, a convenient interest-free three-month installment structure, and standard bureau reporting to build CIBIL history. Because the headline 3% tier demands prohibitive balance thresholds, it should be evaluated strictly as a 1% cashback card—a category where its versatility and lack of annual fees make it highly competitive.
Sources & verification
Fees, reward rates, and benefits for the slice UPI Credit Card are taken from slice 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 8 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for slice . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2019 · 6 changes · last change Jul 2025
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2025 2 changes — 1 improvement, 1 neutral
▲ Benefit Effective 1 Jul 2025
slice relaunches as a lifetime-free RuPay UPI credit card
UPI-first prepaid + term loans → Bank-issued RuPay UPI credit card
slice launched its flagship UPI credit card (press dated 1 July 2025) — a lifetime-free RuPay card linked to UPI, up to 3% cashback (realistically ~1% for normal balances), zero forex markup on international spends, and "slice in 3" interest-free instalments. As a bank-issued unsecured card it reports to CIBIL; opened to all users after a phased rollout.
Verification: slice ↗ · Confidence: High
◆ Benefit Effective 14 May 2025
Merged bank renamed slice Small Finance Bank
The RBI notified the change of name from "North East Small Finance Bank Limited" to "slice Small Finance Bank Limited" on 14 May 2025 (Gazette 16 May 2025), giving the merged entity the slice brand as a licensed small finance bank and the issuer of record for the new slice card.
Verification: CardAdvisor Research · Confidence: High
2024 2 changes — 2 neutral
◆ Benefit Effective 27 Oct 2024
slice completes merger with North East Small Finance Bank
slice completed its merger with North East Small Finance Bank effective 27 October 2024 — a rare case of an Indian fintech becoming a regulated bank. The banking licence gave slice the ability to issue a genuine credit card and report to the credit bureaus, setting up its return to a real credit product.
Verification: slice ↗ · Confidence: High
◆ Benefit Effective 5 Feb 2024
slice opens its UPI-first prepaid account to all users
Rebuilding around UPI after the credit-line ban, slice rolled out to all users a virtual prepaid account with an @slice UPI handle — pay by UPI or card, auto-reload the balance — completing its shift from a credit card to a UPI-first prepaid-and-lending app. The pivot began with new products (slice Mini/Borrow/UPI) in late 2022.
Verification: CardAdvisor Research · Confidence: High
2022 1 change — 1 cut
▼ Benefit Effective 20 Jun 2022
RBI PPI circular ends the credit-on-prepaid model
Credit line loaded onto a prepaid card → Term-loan "Purchase Power" + prepaid account
The RBI's 20 June 2022 directive barred non-bank prepaid payment instruments (PPIs) from being loaded with credit lines. slice had to stop issuing its credit-line-backed prepaid card and moved lending to a term-loan "Purchase Power" model, disrupting the product's original credit-card-like experience.
Verification: CardAdvisor Research · Confidence: High
2019 1 change — 1 neutral
◆ Launch Effective 2019
slice launched as a Visa prepaid card with a credit line
Founded in 2016 as SlicePay, slice launched its card in 2019 in partnership with SBM Bank India and Visa — a prepaid card loaded from a slice-provided credit line, pitched to young, first-time borrowers as an app-managed alternative to a traditional credit card, with no joining or annual fee.
Verification: CardAdvisor Research · Confidence: Reconstructed
↓ Show all 6 changes Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
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Source: slice UPI Credit Card value timeline — CardAdvisor
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Quick summary
Type Entry credit card
Reward rate 1%
Best for First-time card user building a credit score
Joining fee Free
Annual fee Lifetime free
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 8 Aug 2026
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280 cards analysed — August 2026
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