What is the interest-free period and what are the terms?

1. Make regular purchases with your card during the month. The grace period applies to purchase payments. There are exceptions.
2. Pay for them by the end of the following month by topping up your card free of charge.If the debt is repaid in full, no interest will be charged on the credit.
   

It is not necessary to repay the debt in full; you may make only a 3% payment, with a minimum of RUB 300. In this case, the grace period will be canceled.

If it is inconvenient for you to repay the entire amount of card debt at once, you may make only the minimum payment. In this case, interest will be accrued on the transactions made.

For each calendar month, an Account statement is generated for the credit card, indicating the amount and due date of the minimum payment, as well as the total amount of debt as of the statement date and the period for its interest-free repayment. 

If you repay the debt only with minimum payments, The bank will accrue interest not only on non-grace transactions, but also on grace transactions, starting from the day following the purchase date and up to and including the date of full debt repayment. 

If you fully repay the total amount of debt within the specified period, no interest is accrued on the amount of grace transactions. Thus, you receive an interest-free loan for up to 62 days –  this is very convenient for everyday payments.

The interest-free period for the "Cashback" credit card is 2 months, where:

• The first month —  you spend money from the available credit limit. In simple terms, you pay for your usual purchases with the credit card.
• The second month — you repay the full amount that you spent in the previous month.

At the same time, in the second month you can continue using the credit card. These expenses will need to be repaid in the following — third month, and so on.

The payment amount and due date are always available in the app or the web version of Uralsib Online.

Example: On January 1, you used the "Cashback" credit card for the first time and paid for a purchase in a store in the amount of 10 000 rubles. To avoid interest being charged on the purchase, you must return this amount to the account in full by the end of February. 

If you are not ready to repay the debt in full, you can make a minimum payment — 3% of the outstanding debt, at least 300 rubles. In this case, the grace period will be terminated, and interest will be charged on the transactions. 

We also recommend reviewing the list of transactions covered by the interest-free period.

The grace period does not apply to:  

• cash withdrawals and cash withdrawal fees 
  
• card transfers and transfer fees
  
• cashless quasi-cash transactions and fees for them
• transactions according to the list
• cashless transfers via remote banking services.
  

Accordingly, the grace period applies to:  

• payment for goods and services using the card or its details
• payment of bank fees, except for cash withdrawal fees, quasi-cash transactions and transfers.
  

The interest-free credit period terms do not apply to:

• cash withdrawals
• transfers between bank cards
• quasi-cash transactions
• payment of fees предусмотренных for transfers and cash withdrawals
• transactions (or parts thereof) that resulted in an overdraft of the credit limit

Quasi-cash transactions are transactions involving highly liquid assets, i.e. transactions that are directly converted into cash.

For example, transfers to deposit accounts in other banks, the purchase of casino chips and traveler's checks, top-ups of e-wallets, etc. The list of MCC codes for quasi-cash transactions can be found here.

In this case, the grace period for crediting will be cancelled, and interest will be charged on transactions. In addition, according to the bank’s tariffs, penalties will be accrued. You can find more details in the Tariffs & fees section.

Debt repayment for agreements concluded on October 18, 2021 is carried out in the following order:

1. interest on the principal debt, including technical debt, if any;
2. principal debt – first arising from purchases, then cash withdrawals, transfers, and quasi-cash transactions;
   
3. late payment penalty, if any.
   

Example: on January 1, you withdrew 10 000 ₽ from your credit card via an ATM, and on January 20, you paid for a purchase in a store for 5000 ₽. 

When you deposit money to the card, the interest on the cash withdrawal will be charged off first. From the remaining amount, the debt for the store purchase will be repaid. The debt for the cash withdrawal from the ATM will be repaid last.

Tip: There are transactions to which the interest-free lending period does not apply. If you want to minimize interest expenses, do not delay repaying the debt for such transactions.

List of transactions covered by the interest-free period.

• In the app or web version of Uralsib Online
• Through ATMs with cash acceptance function 
  
• At a bank branch: cash via the bank cashier or by bank transfer between accounts at Bank Uralsib
  
• By bank transfer from another bank
  

When there is no credit card debt, it is not necessary to deposit money into the account. If debt arises, choose the payment option that suits you best: 

• Repay the full amount owed to the bank in a single payment. This can be done both during the interest-free (grace) period and after it. In any case, with this repayment method, interest charges will be minimal.
• Repayment in arbitrary amounts, but exceeding the minimum payment. With this method, it is important to remember that if you do not repay the full amount in full during the grace period, interest will be charged. 
  
• Repayment by the minimum payment. With this option, interest expenses will be the highest. 
  

The payment amount and due date are always available in the app or in the Uralsib Online web version.

Find out about ways to deposit money into your credit card account.

A credit card is a form of credit, but instead of a standard payment schedule, you have a mandatory minimum payment, the amount of which depends on the outstanding debt and whether interest is charged on transactions.  

You do not need to calculate the amount of the mandatory payment on your credit card yourself — the bank does this automatically. You can find out the amount and the payment due date in the app or the web version of Uralsib Online.

The interest-free or grace lending period (from the English term grace period) is the period during which the bank does not charge interest on card purchases. 

The interest-free period starts with the first cashless debit transaction of the month to which its terms apply. Its term for the “120 Days to the Max” credit card is up to 120 days. 

The grace period does not apply to debt arising from transactions such as cash withdrawals from a card or account, transfers, and quasi-cash transactions.  

Read more about how the grace period works for the “Cashback” card, how to make payments, and which transactions the grace period does not apply to.

The Total Cost of Credit is a calculated indicator introduced by the Central Bank to establish a unified approach for comparing credit products of different banks. This indicator is not the overpayment amount; in practice, a client may use the card completely without interest by using the grace period.