115 Days Without Interest credit card from Ak Bars Bank

You can get the card for free — Ak Bars Bank does not charge any fee for card issuance. You also won't have to pay for the annual maintenance of the credit card.

The credit card will incur a fee if you want to receive notifications about deposits and transactions. You will need to activate the corresponding service. The cost of transaction alerts depends on the chosen tariff plan:

• "Economy" package. It costs 49 RUB per month. It includes SMS notifications for deposits and push notifications for deposits and withdrawals.

• "Maximum" package. It costs 79 RUB per month. It includes SMS and push notifications for all credit card transactions.

The "115 days interest-free" credit card from Ak Bars Bank has a small credit limit. The minimum available amount is 10,000 RUB, and the maximum is only 300,000 RUB. The limit size depends on the borrower's individual characteristics, specifically their credit history, debt burden, salary, age, place of employment, and so on.

We would like to note that it is very difficult to get 300,000 RUB right away, especially if you are not a payroll client of Ak Bars Bank and have not previously used banking products from this institution. You will be approved for the minimum amount. In the future, you can increase your credit limit if you use the card regularly and make mandatory minimum payments on time.

The grace period for this credit card is up to 115 days. The duration of the grace period depends on which day of the billing cycle you make the transaction.

We recommend noting that the grace period applies only to non-cash payments for goods and services; the bank charges a significant interest rate on cash withdrawals and transfers of borrowed funds.

If you do not have enough funds on hand to fully pay off the card debt, you can make only the mandatory minimum payment. Its amount is 5% of the debt, but no less than 500 RUB.

You must make mandatory minimum payments to maintain the grace period and avoid overdue debt.

As we have already mentioned, Ak Bars Bank does not charge interest only on non-cash payments for goods and services within the grace period. Outside the grace period, the overpayment for transactions is as follows:

• from 15.9% per annum for non-cash payments for goods and services outside the grace period;
• from 15.9% per annum for cash withdrawals and transfers of borrowed funds both within and outside the grace period.

If you do not make mandatory minimum payments, Ak Bars Bank will charge a penalty. Its amount is 20% per annum on the amount of unfulfilled obligations on the credit card.

The advantage of this card is that you can not only pay for goods and services with it but also withdraw cash. The limit for free transactions is 50,000 RUB per month. If you exceed this amount, you will need to pay a fee of 3.9% of the transaction plus 390 RUB.

Please note that although the bank does not charge a fee for cash withdrawals, you will have to pay a significant interest rate when performing this transaction.

Another advantage of the credit card is that by paying with it, you can receive cashback on purchases:

• 1% of the spent amount for regular purchases;
• 5% of the spent amount for purchases in the "Clothing and footwear stores," "Entertainment," and "Fast food" categories;
• 20% of the spent amount for all purchases made in the first 30 days of card service.

The maximum amount of cashback provided by the credit card is 3,000 bonus RUB per month. Any cashback you accumulate above this limit will expire.

The credit institution does not impose strict requirements on its borrowers. You can get the "115 days interest-free" credit card if you meet the following bank requirements:

• holding Russian citizenship;
• with permanent registration in a region where there is an Ak Bars Bank branch;
• with at least 3 months of employment at your current job;
• with a permanent source of income.

As for documents, you only need to provide a passport of a citizen of the Russian Federation to get the credit card. However, please note that you can receive no more than 100,000 RUB with just one document. To be approved for a larger amount, you will have to provide a document confirming your income.

Pros:

• free card issuance;
• free card maintenance;
• long grace period — up to 115 days;
• no interest on non-cash payments for goods and services;
• no fee for cash withdrawals up to 50,000 RUB per month;
• opportunity to receive cashback of up to 20% of the purchase price;
• opportunity to apply for a card with a limit of up to 100,000 RUB with a single document.

Cons:

• small credit limit — up to 300,000 RUB;
• high interest rate outside the grace period — from 15.9% per annum;
• high fee for cash withdrawals exceeding the limit;
• requirement to provide proof of income to obtain a card with a limit exceeding 100,000 RUB.