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English definition of “interest-free”

interest-free

adjective
 
 
FINANCE
used to describe a loan with no extra payment in the form of interest: The card offers 59 days' interest-free credit. You are in effect getting an interest-free loan on 30% of your mortgage. What happens when the interest-free period expires?
(Definition of interest-free adjective from the Cambridge Business English Dictionary © Cambridge University Press)
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