Interest-free (grace) period and debt repayment terms

1. Make regular purchases with the card for three months. The grace period applies to purchases. There are exceptions.
2. At the end of each month, a payment amount of 3% of the outstanding debt is calculated, minimum RUB 300. The payment must be made during the following month.
   
3. At the end of the third month, the full outstanding amount due for repayment without interest is calculated, which must be paid during the following, fourth month.
   

Until the end of the fourth month, it is not mandatory to fully repay the debt; you may pay only 3%, minimum RUB 300. In this case, the grace period will be cancelled.

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;
• purchase payment transactions from this list;
• cashless transfers via remote banking services.
  

The grace period applies to payment for:  

• goods and services by card or using its details, except for the exclusion list;
• bank fees, except for cash withdrawal fees, quasi-cash transactions, and transfers.
  

The interest-free period or grace period of crediting (from the English grace period) is the period during which the bank does not charge interest on card purchases. The grace period does not apply to debt arising from such transactions as cash withdrawals from a card or account, transfers, and quasi-cash transactions.  

The interest-free period starts with the first cashless debit transaction of the month to which the interest-free period terms apply, and its duration depends on the card type:  

for the "Cashback Credit Card" - up to 62 days 

for the credit card "120 Days to the Maximum" -  up to 120 days. 

More details on how the grace period works for the card "120 Days to the Maximum" and the "Cashback Credit Card", how to make payments and which transactions the grace period does not apply to.

The interest-free period for the credit card is 4 months, where:

• The first three months — you spend funds from the available credit limit.  At the same time, at the end of each calendar month, a minimum payment will be generated for you, which must be paid by the last business day of the following calendar month.  
• The fourth calendar month — you repay the entire remaining amount in full.  

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

Example: on January 1, you used the "120 Days Maximum" credit card for the first time and paid for a purchase in a store in the amount of 10 000 rubles.  

In February and March, you need to make the minimum payment — 3% of the outstanding debt amount. The minimum monthly payment amount is 300 rubles.

In April, you need to repay the entire remaining debt amount in full. 

At the same time, the presence of a minimum payment does not mean that the interest-free period does not apply; the amount will go toward restoring the credit limit, and these funds will again be available for use. 

We also recommend reviewing the list of transactions to which the interest-free period does not apply.

Summary: in order for the grace period to continue to apply, you need to make the minimum monthly payments and in the fourth month repay the remaining part of the debt. 

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

Cash can be withdrawn from the “120 Days to the Max” credit card, and a card-to-card transfer can be made without a fee. Please note that the grace period does not apply to such transactions. 

At the same time, these transactions do not cancel the grace period; the bank will charge interest only on cash withdrawal transactions, and no interest will be charged on transactions covered by the interest-free period. 

You can withdraw money from your credit card at the bank’s ATM or at ATMs of other banks.

You can transfer funds from a credit card in several ways: 

1. from card to card – this is the simplest and most advantageous option, as you only need to know the recipient's card number, and no fee is charged for this type of transfer.
2. from the credit card account to any other account by entering the full recipient account details (the recipient bank's BIC, the recipient account number, correspondent account, etc.). With this transfer method, a fee will be charged in accordance with the bank’s tariffs & fees 

How to transfer money: 

• in your personal account in Uralsib Online (both options are available)
• on the bank’s website (only card-to-card transfers are available)
• at the nearest bank branch (only transfers from the credit card account to another account are available)

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

There are several options: 

1. Repay the debt to the bank in full with a single payment. This can be done both during the interest-free (grace) period and after it ends. In any case, with this method of debt repayment, interest charges will be minimal.
2. Repayment in arbitrary amounts, but greater than 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. 
3. Repayment by the minimum payment. Under this option, interest expenses will be the highest. 

 Learn about ways to deposit money into a credit card account 

• In the personal account of the mobile app or the Uralsib Online web version.

• through ATMs with cash acceptance function 
• at a branch of the bank by depositing cash through the bank's cashier or by non-cash transfer between accounts opened with Uralsib.
• by non-cash transfer from another bank 

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

- toward payment of interest for the use of credit on the principal amount, including technical debt, if any;

- toward repayment of principal debt – first debt arising from purchases, then cash withdrawals, transfers, and quasi-cash transactions;

- toward payment of late payment penalties, if any.

Example: Suppose that on January 1, you withdrew money from a credit card via an ATM in the amount of RUB 10,000, and on January 20 you paid for a purchase in a store for a total amount of RUB 5 000. 

When funds are deposited to the card, interest on the cash withdrawal will be debited 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.

Advice: There are transactions that are not subject to the interest-free credit period. If you want to minimize interest charges, we recommend not delaying the repayment of debt for such transactions.

List of transactions subject to the interest-free period.

A credit card is a form of credit, but instead of a standard payment schedule, a credit card has a mandatory minimum payment, the amount of which depends on the outstanding debt amount and whether interest is charged on completed transactions or not.  

You can always check the minimum payment amount and its due date in your personal account in the mobile app or the web version of Uralsib Online.

For credit agreements concluded from 10/18/2021  

The minimum payment is calculated as 3% (minimum RUB 300) of the total outstanding debt as of the end of the last business day of each month + accrued interest on transactions not covered by the grace period and/or accrued interest on purchases if the interest-free period conditions were not met. 

For credit agreements concluded before 10/18/2021  

The minimum payment is calculated as 3% of the total outstanding debt as of the end of the last business day of each month + accrued interest on transactions not covered by the grace period and/or accrued interest on purchases if the interest-free period conditions were not met. 

You will not need to calculate the required payment amount for your credit card every month; the bank will do this automatically. You can check the amount and payment due date in your personal account in the mobile app or the web version of Uralsib Online.

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