Banking in India has seen a major transformation in the past decade. From traditional banking halls to mobile-first solutions, customers now expect services at their fingertips. One such player in this sector is the North East Small Finance Bank (NESB), which has been rebranded as Slice Small Finance Bank after its merger with fintech company Slice.
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About NESB (North East Small Finance Bank)
North East Small Finance Bank (NESB) was founded in 2011 with the goal of making financial services accessible to the underbanked communities in India’s northeast region.
In 2024, NESB merged with Slice, a fintech startup well known for its credit card alternatives and millennial-focused financial products. This merger brought NESB under the name Slice Small Finance Bank.
Key facts about NESB:
- Headquarters: Guwahati, Assam
- Parent Company: Slice (post-merger)
- License: Small Finance Bank license by RBI
- Primary Focus: Retail banking, financial inclusion, digital transformation
The merger represents a big leap, as it combines NESB’s strong regional branch network with Slice’s digital innovation.
Pros and Cons of NESB in 2025
Like every bank, NESB has both strengths and weaknesses.
Good Things about NESB
- High FD rates compared to traditional banks.
- Strong branch presence in northeastern India.
- RBI-regulated bank, meaning deposits are safe (insured up to ₹5 lakh).
- Loan products for small businesses, agriculture, and individuals.
- Promised digital-first banking after Slice merger.
Bad Things about NESB
- Mobile app glitches: users report login issues, poor UI, and technical errors.
- Account opening not seamless online—branch visits often required.
- Some users reported FD renewal without consent.
- Limited awareness outside the northeast region.
- Customer service still catching up with fintech leaders.
How to Open Account in NESB
NESB offers both savings accounts and current accounts. You can open an account in two ways:
1. Online (via Mobile App or Website)
Steps:
- Download the NESB (Slice Small Finance Bank) App.
- Click on “Open New Account”.
- Enter your mobile number and verify with OTP.
- Upload KYC documents (Aadhaar, PAN).
- Complete video verification.
- Fund your account with an initial deposit (if required).
However, users often report errors in the online process. So while NESB advertises “account opening in 2–3 minutes,” in reality, many customers are redirected to branches.
2. Offline (Branch Visit)
- Visit the nearest NESB branch.
- Carry Aadhaar, PAN, and passport-sized photos.
- Fill up the account opening form.
- Deposit the minimum balance required.
This method is still the most reliable way to open an account with NESB.
How to Apply Loan in NESB
NESB provides a range of loans including:
- Personal Loans
- Home Loans
- Business Loans
- Agricultural Loans
- Microfinance Loans (for small entrepreneurs)
Process:
- Visit NESB branch or call customer care.
- Submit your loan application form.
- Provide documents: ID proof, address proof, income proof, and photographs.
- The bank evaluates your credit score and repayment ability.
- Loan approval time: usually 5–7 working days.
Some loan products may become available via the mobile app in future (thanks to Slice integration).
What Are Loan Interest Rates in NESB?
Interest rates in NESB loans vary depending on the type of loan:
- Personal Loans: 12% – 18%
- Home Loans: 8.5% – 10.5%
- Business Loans: 10% – 15%
- Agriculture Loans: 7% – 9%
- Microfinance Loans: 15% – 22%
Compared to big banks, NESB’s loan rates are competitive for priority sector loans, but slightly higher for personal and unsecured loans.
What Are FD Rates in NESB (2025)?
NESB continues to attract savers with higher FD interest rates.
Typical FD rates (2025):
- 6 months – 6.75%
- 1 year – 7.25%
- 2 years – 7.75%
- 3+ years – 8.00%
- Senior Citizens – Additional 0.50%
This makes NESB FDs a great option for conservative investors who want higher returns than traditional banks.
But Unity Small Finance Bank offers FD rates up to 9%
How to Use NESB Mobile App
The NESB Mobile App is available on the Google Play Store under “North East Small Finance Bank.” It claims to provide:
- Balance check & mini statements
- Fund transfers via NEFT/RTGS
- FD and RD booking
- Cheque services
- Debit card blocking/unblocking
Customer Feedback About This App
- Many users report login issues and forced password resets.
- Some complained about forced FD renewals.
- The UI feels outdated compared to modern banking apps.
- Security concerns: unnecessary permissions (camera, gallery).
So while the app exists, its performance needs improvement.
How to Generate User Account in NESB Mobile App
To register as a new user on the NESB App:
- Download the app and click “New User Registration”.
- Enter your Account Number and Registered Mobile Number.
- Authenticate with OTP.
- Set your MPIN or password.
- Link your debit card for extra verification.
Common issue: If SIM is removed or changed, login gets blocked for 24 hours, frustrating many customers.
Real Customer Feedback (2025)
Here’s a summary of what actual customers say:
- “Every time I log in, it asks for a new password. Biometrics don’t work properly.”
- “My FD got renewed automatically without permission. This is shocking.”
- “App looks outdated, like it was designed in 2005.”
- “Bank app asks for gallery and camera access. Why would a finance app need that?”
- “Promised online account opening in 2 minutes, but the process fails. I had to visit the branch.”
This shows that while NESB is strong in traditional banking, its digital banking experience lags behind competitors.
Question and Answer (FAQ)
1. Is NESB safe?
Yes. NESB is RBI-regulated and deposits up to ₹5 lakh are insured under DICGC.
2. How to open account in NESB?
You can open via mobile app (online) or branch (offline). Branch method is more reliable.
3. How to apply for loan in NESB?
Apply through branch by submitting documents like Aadhaar, PAN, income proof, and photographs.
4. What are NESB loan interest rates?
Loans start from 7% (agriculture) and can go up to 22% (microfinance) depending on type.
5. What are FD rates in NESB?
FDs range from 6.75% to 8.0%, with an extra 0.5% for senior citizens.
6. How to use NESB Mobile App?
Download from Play Store, register with account details, set MPIN, and start using. But be prepared for login issues.
7. How to generate user account in NESB Mobile App?
Enter account number + registered mobile, verify OTP, and set password/MPIN.
Conclusion
If you want high FD rates and traditional branch banking, NESB is a good option.
If you need seamless digital banking, you may face frustrations with the current mobile app.
The Slice merger promises future upgrades, but in 2025, NESB is still catching up digitally.