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

The grace or interest-free period is the time during which the bank does not charge interest on spending made with a credit card. The interest-free period starts from the first cashless debit transaction in the month.

Interest will be charged for:

— cash withdrawals from a credit card or account

— transfers

— quasi-cash transactions

— payments via Faster Payments System (SBP)

List of organizations for transfers to which interest will be charged on the credit card