Grace Period

In finance, the term “grace period” refers to a period of time during which a borrower can delay repayment of debt without any consequences.

For example, a secured loan may have a grace period during which the collateral will not be seized if a payment is not made on time.

Revolving credit instruments such as credit cards may have a grace period during which the borrower is not required to pay interest.

More on this topic:
Swiss credit card comparison
Swiss personal loan comparison

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