Grace period
Market basicsThe interest-free window between a credit card statement and its due date.
In plain terms
Conditional on clearing the full statement. Once a balance revolves it disappears — including on new purchases.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Minimum amount due
Market basicsThe smallest payment that keeps a credit card account current.
In plain terms
The most misleading number on an Indian statement. Paying it starts interest on the whole balance and ends the grace period on new spending.