Mumbai: India’s leading digital and AI bank, slice, has launched atom, a new feature designed to help customers save for specific financial goals within a single savings account.
The launch comes as slice surpasses the milestone of 5 million savings accounts opened since the product’s introduction in March last year.
atom by slice enables customers to set aside money for different goals without the need to open separate accounts.
The feature was developed in response to customer demand for a simple way to earmark funds while maintaining the convenience of a single savings account.
According to slice, when savings and spending share the same balance, money intended for goals such as vacations, emergencies, or major purchases can often be spent on day-to-day expenses.
atom by slice addresses this challenge by creating a dedicated, named pocket of money within an existing savings account. Funds allocated to an atom remain separate from everyday spending balances.
Also Read: Paymentology Launches Lume to Accelerate Global Growth for Fintechs and Banks
With the launch of atom by slice, the company says it becomes the first licensed bank in India to offer such a feature directly within a regular savings account.
Money held in an atom continues to earn the same interest rate as the rest of the savings account, currently 5.25% per annum, matching the RBI repo rate.
Interest is credited daily, ensuring customers do not sacrifice earnings when setting money aside for future goals.
Unlike fixed deposits, atom by slice does not lock funds for a fixed tenure. Customers can withdraw money from an atom at any time without penalties.
Once withdrawn, the money is instantly returned to the main account balance and becomes immediately available for use through UPI payments, card transactions, or bank transfers.
The feature also includes automated saving options. Customers using atom by slice can choose to transfer a fixed amount into an atom daily, weekly, or monthly.
In addition, the platform offers a round-up saving option that automatically rounds each payment to the nearest ₹10 and saves the difference.
Users can create and manage up to 10 atoms within a single savings account at no additional cost. The company stated that setting up and maintaining these savings pockets is completely free.
To ensure uninterrupted scheduled payments, auto-debits, SIPs, and EMI transactions continue to be processed exclusively from the main account balance. Scheduled payments are therefore never deducted from money stored in an atom.
Since every atom remains part of the same savings account, the entire balance continues to receive the same deposit insurance protection applicable to standard bank accounts.
With atom by slice, the company aims to provide customers with a more structured approach to saving while maintaining liquidity, daily interest earnings, and the convenience of managing funds within a single account.
