All About Slice Credit Card Interest Rate & Other Charges in 2026

Wondering how you can maximise the benefits of the interest-free (grace) period on your Slice credit card? An idea about the interest rate on your credit card is crucial for the efficient management of your finances.

With the Slice Credit Card, enjoy an interest-free credit period from 14 - 46 days. This applies only if you meet the set condition of having paid your previous month's balance in full.

In this blog, discover the Slice credit card interest rate and explore how it may impact your financial decisions.

Slice Credit Card Interest Rate Applicability

Considering Slice Card's relaxed eligibility norms and nil joining/annual fees, it is a great fit for new credit card users. We are going to demonstrate the credit card interest calculation process using an example. You must have paid off all the previous dues in full and have no amount outstanding on your card’s account.

Note that your statement date is the 21st of each month. The due date for payment is on the 5th of the following month. Here's a table listing person A's spending:

Date	Transaction	Amount	Principal Outstanding Post-Transaction
22nd April	Purchase  of Electronics	₹8,000	₹8,000
27th  April	Purchase of Clothing Items	₹1,500	₹9,500
21st May	Statement date	Total due: ₹9,500, MAD: ₹475	₹9,500
12th June	Partial payment (late payment)	₹1,500 (Credit)	₹8,000
16th June	Purchase of Groceries	₹800	₹8,800
18th June	Card payment	₹7,000 (Credit)	₹1,800

Statement for 21^st June Interest Calculation:

(POS × 40% per year × number of days) ÷ 365 = Interest calculated

• 22nd  – 26th April: ₹8,000 for 5 days (interest of ₹43.84)
• 27th April – 20th May: ₹9,500 for 24 days (interest of ₹249.32)
• 21st May – 11th June: ₹8,000 for 22 days (interest of ₹192.88)
• 12th June – 15th June: ₹8,800 for 4 days (interest of ₹38.58)
• 16th June – 20th June: ₹1,800 for 5 days (interest of ₹9.86)

Components of the Statement (dated 21st June):

• Applicable late payment fees: ₹700
• Finance fees: ₹534.48
• Total amount that is due: ₹3,015.32
• Total principal outstanding: ₹1,800
• GST of 18% on the finance fees & late payment fees: ₹223.16

Slice Credit Card Fees & Charges

1. Card Membership Charge

Type of Fee	Amount
Joining fee	Nil
Annual fees for membership	Nil
Card replacement fee	Up to ₹300 for every instance

2. Service Fees

Type of Fee	Amount
Payment of Rent	1% of the transaction value/₹10 (the higher value shall apply)
Education-related payments through third-party channels
Online gaming
Wallet loading
Fuel surcharge	2% for each transaction (a minimum of ₹10) on spends which cross ₹25,000
Purchase of a Railway ticket
Payment of utility	1% for each transaction (a minimum of ₹10) on spends which cross ₹25,000

3. Finance Charges

Type of Fee	Amount
Annual percentage rate (APR)	42% per annum, once the grace period concludes
Rate applicable on a monthly basis	3.5% each month, once the interest-free period comes to a close

4. Late Charges

Total Due Amount	Late Charges
Up to ₹100	Not Applicable
₹101 to ₹500	₹100
₹501 to ₹1,000	₹500
₹1,001 to ₹5,000	₹600
₹5,001 to ₹10,000	₹750
₹10,001 to ₹25,000	₹900
₹25,001 to ₹50,000	₹1,100
Over ₹50,000	₹1,300

Note: The above-mentioned values are not inclusive of GST. GST will be applicable to all the charges and interest, according to the relevant tax laws. Upon being levied, GST cannot be reversed.

What Is Minimum Amount Due (MAD)?

Slice credit card grants cardholders the flexibility of accessing revolving credit. One may choose to pay the complete outstanding amount or just a portion of it. In order to maintain the account well, one is required to pay at least the "Minimum Amount Due" or MAD by the set due date of payment.

By applying a structured formula, the MAD is calculated. This formula is designed to make sure that the cardholders display responsible repayment behaviour while also covering the main account-related obligations. Here’s the formula:

Total GST + EMI instalments + 100% of finance fees + 100% of fees & charges + 5% of (retail spends and bank transfer) = MAD

However, note that if the MAD value is calculated according to the aforementioned information falling below/equal to ₹200, the MAD value shall be charged as ₹200/-.

If the statement value of TAD (Total Amount Due) is ₹200/lower, MAD will then be equal to TAD.

Slice Finance/Interest Charges When Only MAD is Paid

Let us now discover the method of calculating different charges if one only pays the minimum amount due (MAD) of a statement. Say, you have cleared all the previous dues in full and do not have an outstanding amount on your card account.

Note that the statement is dated to the 21^st of each month. The payment is due on the 5th of the following month. This includes a grace (interest-free) period of 3 days.

Date and Action	Description	Balance Impact	Interest
25th March & Purchase	₹20,000 is spent on the purchase of electronics	₹20,000 debit	₹0
21st April & Statement is Generated	Statement against Total Due: ₹20,000 MAD: ₹1,000	₹20,000 is due	₹0
5th May & MAD is Paid	The concerned person pays ₹1,000	₹1,000 credit & ₹19,000 revolved	₹0
21st May & Statement is Generated	Interest on the amount ₹20,000, starting from 21st Apr to 5th May (within 15 days); ₹19,000 for 5th May to 20th May (within 16 days)	Due amount is ₹19,698 (₹19,000 + ₹345+ ₹350)	₹695
5th June & Full Payment is made	Concerned person pays ₹19,695 (the full amount)	₹19,695 credit	₹0
21st June & Statement is Generated	Residual interest applicable from the 21st of May to 5th of June (₹19,000; 16 days)	₹350 is due	₹350

Components of the Statement (dated 21^st April):

• Charges applicable for late payment: ₹0
• Finance fees: ₹0
• Total due amount: ₹20,000
• Total outstanding principal amount: ₹20,000
• GST of 18% on finance and late payment fees: ₹0

Components of the Statement (dated 21^st May):

• Charges applicable for late payment: ₹0
• Finance fees: ₹695
• Total due amount: ₹19,820
• Total outstanding principal amount: ₹19,000
• GST of 18% on finance and late payment fees: ₹125

Components of the Statement (dated 21^st June):

• Charges applicable for late payment: ₹0
• Finance fees: ₹350
• Total due amount: ₹413
• Total outstanding principal amount: ₹0
• GST of 18% on finance and late payment fees: ₹63

Payment Method for Slice Credit Card Bills

Slice extends several different channels for payment to ensure efficient, timely settlement of the credit card account.

In case an individual holds a savings account with Slice Small Finance Bank, they can enable auto-debit to clear the due payment amount directly on the due date for payment. This amount shall be debited from the account and credited into their card account on the very same day.

Payment method	Processing time
slice app	Processing is initiated on the same day. This method is recommended and guarantees instant confirmation. The app supports net banking, UPI, and debit cards.
Auto-debit from the savings account with Slice.	Processing is initiated on the due date as set by the cardholder. This is before the due date for payment. The debit from the savings account is an automatic process.

💡For your bill payments and tracking business transactions, use the PICE App.

Slice Credit Card EMI Facility

Slice allows its cardholders to convert any transactions (should be eligible) into EMIs. This helps in the management of spends more conveniently over a period of time. To be eligible, the amount of the transaction must be at least ₹2,000.

The slice cardholder should not have outstanding dues/pending payments from the latest billing cycle. Dues must be fully paid by the due date for payment. A few transaction types are not eligible for this facility, including those with excluded MCCs.

If the eligibility criteria are met, cardholders shall be offered the option to "slice" up a transaction into EMIs. Respective cardholders can essentially select between the 2 repayment tenures:

• 2 months
• 3 months

The EMI repayment schedule-related information will be shared with the cardholders through email. It shall grant cardholders the flexibility to distribute their spending without having to apply immediate pressure on their monthly finances.

The cardholder shall repay the transaction EMIs at an earlier time. However, there will not be an interest waiver/incremental benefit granted for it. The complete outstanding principal in the context of the remaining EMIs shall be payable at the time of foreclosure.

Conclusion

Knowing about the Slice credit card interest rate and the terms associated with it is crucial for making the most of this financial option. Plus, with awareness about the payment due date, billing cycle and interest-free credit period, you shall be able to effectively manage finances while avoiding unnecessary interest.

By repaying the bills on time, keeping track of your spending and making the most of the grace period, you can unlock the full potential of your Slice Credit Card.

FAQs