What is the interest-free (grace) period on a credit card?

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.