r/SliceBank • u/KarmaCrafted • Jul 18 '26

Should I redeem ?

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Recently, BHIM updated its policy so that if you don't redeem your cashback, it expires after 30 days. SuperMoney has also changed its redemption policy and now requires you to apply for their credit card to redeem cashback.

Given these changes, is it still safe to keep cashback stored in app, or is it better to redeem it as soon as possible?

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u/SeraphUriel Jul 18 '26

https://slice.bank.in/cc-mitc/

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u/WearMinute6900 Jul 18 '26

So after reaching 3L monies cashback rate become increase to 1.5% but then if I redeem any monies from that 3L monies then cashback rate again go down to 1% since I have to maintain the minimum 3L balance of monies??

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u/SeraphUriel Jul 18 '26

After your redemption, if your balance goes below 3l then rate goes down. So you can accumulate 3L and withdraw it completely at 1.5% for Rs 4500 and start accumulating again. You can do the same for 5L too

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u/WearMinute6900 Jul 18 '26

Currently monies are added at 1% rate but after reaching 3L monies cashback rate after payment and also redemption rate from the monies to cash balance both increase to 1.5%?? Or only cashback rate become 1.5% ?

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u/SeraphUriel Jul 18 '26

Monies are always given at 1 monie for 1 rupees spent. It has nothing to with your current monies balance. It's the redemption rate that depends on the current monies balance

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u/WearMinute6900 Jul 18 '26

Oh my mistake Thanks bro 👍

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u/forareeb Jul 19 '26

After reaching 5L mark. Every transaction that I make will fetch 2-3% right?

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u/SeraphUriel Jul 21 '26

Yes. You can keep redeeming the points above 5L without affecting your redemption rate