Interest-free (grace) period and debt repayment terms

The interest-free period for the "Premium banking" Credit Card is provided for 4 months, where:

The first three months are the period during which you spend funds using the provided credit limit. At the same time, at the end of each month, a minimum payment will be generated for you, which must be paid by the last business day of the following month.

The fourth month is the month when you need to repay the entire remaining amount in full.

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

Example: On January 1, you used the "Premium banking" Credit Card for the first time and paid for a purchase in a store in the amount of RUB 150 000.

In February and March, you need to make the minimum payment, which will be calculated as 3% of the debt amount; the minimum monthly payment is RUB 300. In April, you need to repay the entire remaining amount in full.

At the same time, the presence of a minimum payment does not mean that the interest-free period is not in effect; the amount will go toward restoring the credit limit, and these funds will again be available to you 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 remain in effect, it is necessary to pay the minimum payments every month and in the fourth month pay the remaining part of the debt.

The interest-free grace period, or preferential lending period (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 begins with the first cashless debit transaction of the month to which the terms and conditions of the interest-free period apply, and its duration depends on the card type:

for the Cashback Credit Card - up to 62 days

for the "120 Days to the Max" and "Premium banking" credit cards - up to 120 days.

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

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 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, except for the exception list.
• payment of bank fees, except for cash withdrawal fees, quasi-cash transactions, and transfers.
  

Cash can be withdrawn from the Premium Credit Card, and card-to-card transfers can be made without a fee. Please note that such transactions are not covered by the grace period.

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

You can withdraw money from a credit card at an ATM of Bank Uralsib or other banks.

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

1. from card to card — this is the simplest and most cost-effective 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 bank account details of the recipient (recipient bank BIC, 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, there is no need to deposit money into the account. If credit debt arises, 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 expires. In any case, with this method of debt repayment, interest accrual will be minimal.

2. Repayment in any amounts, but higher 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. With this option, interest expenses will be the highest.

Learn about methods of depositing money into a credit card account

• In your personal account in the mobile app or web version of Uralsib Online
• via ATMs with cash acceptance function
• at a branch of the bank by depositing cash through the bank's cashier or by cashless transfer between accounts opened with Uralsib
• by cashless transfer from another bank

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

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

- for payment of principal debt — first generated by purchases, then by cash withdrawals, transfers, and quasi-cash transactions;

- for payment of late payment penalties, if any.

Example: Suppose 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 credited to the card, interest on the cash withdrawal will be debited first. From the remaining amount, the debt for the purchase in the store 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 postponing repayment of debt on 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.

The amount of the minimum payment and the due date for its repayment can always be viewed in the personal account of the mobile app or the web version of Uralsib Online.

The minimum payment is calculated as 3% of the total outstanding debt amount 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 terms of the interest-free period were not met.

You will not have to calculate the amount of the mandatory payment on your credit card every month, the bank will do this independently. You can find out the amount and the due date in your personal account in the mobile application or the web version of Uralsib Online.

The Total Cost of Credit is a calculated indicator introduced by the Central Bank to ensure a uniform approach to comparing loan 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 of lending.