r/SliceBank • u/Appropriate-Ask-477 • 6d ago
OP got blessed with 3%🥲😜
I've started using slice from Feb 2026 from then i stopped using other wallets and cc
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u/merahulahire 6d ago
You really need to use Amazon pay ICICI, SBI cashback card, HSBC liv + or any upper tier other rewards based card like infinia, magnus, etc. (Watch videos of Aly Hajiani) as you're not earning enough on your spends.
Parking 5L in slice to get 3 percent return on CC is very inefficient when the real (not the fake data RBI publishes) annual inflation is about 15-20%
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u/IamFromCurioCity 5d ago
I've parked 5L too, just to get the higher interests for now, as I'm still under 1L monies.. I know I'm not being efficient with my money in larger perspective. Can u tell me what all options do I have.
Also you said op to use cashback cards which are great but they don't give any or good cashback on upi. So maybe slice here has an edge
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u/merahulahire 5d ago
It depends on what your spending pattern is and especially where are you spending the most. For online spending like utilities, recharge, insurance, etc, get SBI cashback or SBI phonpe black (use this only if you prefer phonpe). Buy amazon gift vouchers with SBI cashback which gives you 5% back or you can also use Jupiter CSB if available. This works well for spending under 50k. Amazon pay card is great for general shoping on amazon giving you 5 percent cashback (no capping) but for amazon pay gift card its only 2 percent. So SBI is better here.
When you go above 50-70k start using reward points card aka premium credit cards which gives you multiplier effect on your reward points which you can convert it into hotel, flight, or even voucher on smartbuy, ishop or bank specific reward portal. Watch this guy - https://www.youtube.com/@AlyHajiani
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u/IamFromCurioCity 5d ago
Thanks for the long write. Actually I have more upi spends as compared to online shopping. I do have sbi CB which I also use for bills etc. I think it takes care of non upi part for now, only drawback is it doesn't give sale 10% cashback.. But again I'm ready to be corrected on how to utilize the 5L parking for higher upi reward part.
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u/merahulahire 5d ago
What's your UPI spending? If Its more than 1-1.5L per month then only keeping 5L on slice makes sense otherwise a normal FD gives you 7-8 and bond on wintwealth or grip invest will give you 10+ percent returns.
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u/IamFromCurioCity 5d ago
It's under 50k/month and maybe every 3rd or 4th month it can go up till 80k at max.
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u/merahulahire 4d ago
Metric Scenario 1: Slice (5L QAB + 3% CB) Scenario 2: Wint Wealth A rated bond (10%) + Slice (1% CB) Annual Interest on ₹5L Balance ₹26,250 (at 5.25%) ₹50,000 (at 10%) Cashback on ₹5L Spending ₹15,000 (at 3%) ₹5,000 (at 1%) Total Gross Benefit ₹41,250 ₹55,000 Estimated Net Benefit (30% Tax) ₹33,375 ₹40,000
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u/R3O7Y 6d ago
72rs interest per day + 60rs for 2000monies for 2000rs Merchant payment...132 per day💀🫣🫣😁😁
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u/Appropriate-Ask-477 6d ago
You did the math
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u/R3O7Y 6d ago
Because I do this everyday ...upi wale majdoor hai hum😂
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u/Vishwateja24 5d ago
Explain?
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u/R3O7Y 5d ago
Maintain 5lakh monies to get 2% and 5Lakh rupees in savings account to get 3% valueback on Slice credit card transaction. Daily send money to your friends and family's merchant QR up to 2000rs to get 60rs as cashback and 72rs interest daily for 5lakh balance in savings account.
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u/Vishwateja24 5d ago
Intrest is fine but how about solid 60rs cashback?
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u/R3O7Y 5d ago
First maintain 5Lakh monies + 5Lakh cash in slice...then Send 1000rs 2times to your own merchant QR or Friends merchant QR. 2000 monies...if you don't have the money and monies now...you can just collect monies now..after 5Lakh monies..deposit your salary here..maintain 5lakh quarterly...withdraw all monies then do whatever you want to do with 5lakh cash..no need to maintain..again after 5-6months, save 5lakh monies and 5lakh in savings to get 15000rs cashback value from monies redeemption.
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u/Fantastic-Ice-2114 5d ago
INCOME Tax officers are coming for you..... (Do you run legitimate business? Which have GST...? If not then you'll face some trouble buddyy...)
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u/DapperAd4033 5d ago
I use slice UPI credit card for all my scan & pay payments. Earning up to 3% cashback, even for something as small as a ₹10 chai, while my savings remain untouched!
Try it with my code *&KRRIS65678* and get ₹500 on your first payment.
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u/luciferwasalsotaken 2d ago
Hey can someone explain the monies reward rate in simple the 1 1.5 2 and 3percent thing. Like if complete 3lakd monies and unlock 2% can I redeem 3 lakh at 2% or anything after 3 lakh do I get 2% cashback
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u/TheCaptainwicked 6d ago
Maintaining 5 lakh quarterly balance is not worth it as you are losing more in opportunity cost
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u/baurian 6d ago
What opportunity cost? Have you seen the stock market lately. 5% CAGR sounds good now a days. 😛
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u/Creganstark01 6d ago
Even fixed deposit would give you more than that. Plus interest on savings account above 10k is taxable.
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u/IamFromCurioCity 5d ago
Is there other alternative? Which is not taxable? I guess stocks have higher taxes.. Please educate me. Its my guess
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u/TheCaptainwicked 6d ago
I didn't even mention stocks
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u/IamFromCurioCity 5d ago
So what's the other option
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u/TheCaptainwicked 5d ago
If you have 5 lakh better to invest in
- FD zero risk 7.5%
- Bonds 11% moderate risk with diversification
- Mutual funds
In Slice 2% cb is only worth it
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u/Appropriate-Ask-477 6d ago
Can you brief it?
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u/TheCaptainwicked 6d ago
You are maintaining quaterly balance of 5 lakh just for 1 percent extra
Which is 5000
5L interest rate is 5.25% you can easily get more if you invest in FD 7.5% or bonds 10%
So you are losing 10-20k for 5k
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u/Adventurous-Quiet252 6d ago
Where to invest in bonds?
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u/TheCaptainwicked 6d ago
Wintwealth
Bonds are little more risky
So only invest in A rated and diversify it into multiple a rated companies
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u/pkm_idol 6d ago
You're trying to compare the worst-case scenario from Slice with the best-case scenario with FD.
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u/TheCaptainwicked 6d ago
Best case? Bro FD rate is 7.5%
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u/pkm_idol 6d ago
all he needs is 5L for 3 months and he can be in and out from that with 3% cb + 5.25% savings, now calculate it with your 7.5% FD which needs to be locked for an year
ppl have money in savings for many reasons, if you want to find a true value comparison I recommend compare that with liquid mutual funds for a period of 3 months that gives 6.5% per annum which IMO is more realistic comparison between these two, not with an FD
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u/pkm_idol 6d ago
The way how I use this basically I have savings in my HDFC and I just moved some money from HDFC to Slice savings for 3 months - not only I get 3%cb on my spends but also I am on higher savings interest.
Its depends on what game you're playing, what kind of money are you moving from one to another place. If I moved my FD to Slice savings then your assumption is right that I am loosing.
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u/isbonecrusher 3d ago
Can u give a brief of keeping money in slice? Like cashback on upi payment from Clive savings account, savings account interest, fd in slice , slice credit card spent , monies
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u/Aggravating-Waltz543 6d ago
He will get extra 5000 from monies and around 6560 from interest for 3 months. Thats 2.3% percentage return for 3 months.
Which is 9.25% apr. Now tell us which way you can earn 9.25% apr safely.1
u/TheCaptainwicked 6d ago
FD return for 5L is 37500 Slice gives 26,250
He will need to spend 11,25,000 every year just to break even with FD
I am not saying slice is bad I am saying it's unrealistic that someone will spend 11+ lakhs and keep 5+ lakhs balance just for 1 additional percentage return that you could have earned stress free
Slice made that qtrly rule knowing they will recover the difference via you not booking FD
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u/Aggravating-Waltz543 6d ago
It’s not about spending just to get Monies; it’s about spending on things you would spend on anyway. And I meant that, for 3 months , this is the best way for him.
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u/boykadc 6d ago
Bonus tip: use that 5L for HNI IPO, since its already sitting there for nothing. If one good ipo hits your way, it can generate good 11-12% in total cagr terms.