A grace period is the number of interest-free days provided by PNB after the billing cycle ends but before the payment due date. If the full outstanding amount is paid within this period, no interest is charged. The grace period applies only if the total bill is paid in full before the due date. If only the minimum amount due is paid, interest will be charged on the remaining balance.
The interest-free period, often known as the grace period for bill payments, is a feature of PNB credit cards.
The PNB Credit Card Grace Period’s specifics:
The length of time is typically 20 to 50 days, depending on the billing cycle.
The Way It Works: The full amount outstanding must be paid before the due date in order to avoid interest.
Paying only the minimal amount due results in interest being imposed on the remaining balance from the transaction date.
Only new transactions are eligible for the Grace Period.
When cash is withdrawn, there is no grace period and interest is assessed immediately.
Yes, PNB credit cards do offer a grace period, usually ranging from 20 to 50 days, depending on your billing cycle and the transaction date. This is the interest-free window between your statement date and the due date.
To enjoy this benefit, you need to pay the full outstanding amount by the due date. If you pay only the minimum due, interest gets charged on the remaining balance from the date of purchase, not from the due date. So to avoid interest, always clear your full bill within the grace period.