We know you still have some confusions and dilemma on whether to apply for the credit or not. Let me tell you, you are not alone and also many of the people who had the same confusion have already signed up to SlicePay and enjoying our services. We will now try to clear these doubts that you might be having.
Does it require credit card?
No, absolutely not. To apply for the credit limit all you need to have is your college ID card and the Aadhaar card.
How long should I wait after I apply to get approved?
Not more than you would wait for the next episode of your daily soap. Yeah, the verification process happens within a day and you will get the approval in a day as well.
Once approved, what should I do?
Initially, you will given the credit limit of ₹4,000 and that is what we call the silver access. You can use this credit to shop online, pay for movie, hotel, cab and other services. If you feel you need more credit you can apply for the Gold Privilege.
Now, what is this Gold Privilege?
SlicePay’s credit limit is divided into 3 phases.
- Silver Access
- Gold Privilege and
- Platinum Club
As you already know, Silver Club is the initial level where you would be given ₹4,000 credit. Golden Privilege and Platinum Club are higher levels which provide more credit whose details are explained in the table below.
|Bands||Credit limit||Verification/Documents required|
|Silver Access||₹4,000||College ID and an Address Proof such as Aadhaar|
|Gold Privilege||₹20,000||Physical verification of the user by our intern|
|Platinum Club||₹60,000||Last 3 months bank statement and last semester marks card|
Okay, now how should I repay?
While purchasing the product you can choose the plan duration based on which your monthly payment will be calculated and you have to pay that much at the end of the month.
After that you don’t have to worry about repayment, by linking your bank account to NACH you will get the automatic repayment benefit and also SlicePay will send you gentle reminders.
Now since you have got to know everything, go ahead and apply for the credit. Hurry!