The days between a purchase and its payment due date during which no interest is charged.
A spend made on the first day of a billing cycle can go interest free for the whole cycle plus the days until the due date, typically up to 45 to 55 days. A spend made just before the statement date gets only the days until the due date, about 15 to 20.
The period applies only when you pay the full amount due every month. It never applies to cash withdrawals, which carry interest from the day they are taken.
Short reads that explain how it works before you decide.
GuidesNo-Cost EMI: What It Really Costs You, With a Worked ExampleNo-cost EMI is not a trick, but it is rarely free. Here is where the money goes: the discount you give up, the processing fee, and GST on the interest, worked out on a Rs 30,000 phone.Read the guide →Automatically organise your spending, track expenses and understand where your money goes.
