Credit cards are dependable finance tools that offer a range of benefits. One such benefit is the facility to withdraw cash from your credit card to address your monetary concerns during times of crisis. Axis Bank credit cards also offer the cash withdrawal/cash advance facility. However, there is a limit on the amount of cash that you can withdraw, as well as the associated charge. This charge applicable on cash withdrawals is known as the Axis Bank credit card cash withdrawal charges.
Axis Bank offers the ease of withdrawing cash from an ATM, to cater to an emergency, using your credit card. You can only withdraw within the limit set by the bank. This cap varies from card to card and maybe nil for cards that are less than 180 days old. However, availing this facility comes at a cost. This cost is known as the Axis Bank credit card cash withdrawal charges.
The Axis credit card cash withdrawal charges refer to the fees you need to pay against your transaction, each time you avail the facility. This cash withdrawal fee is added to your credit card statement the following month. For example, if you use your Axis Bank credit card to withdraw INR 1000 when the credit card cash withdrawal charges on Axis credit card is 2.5% of the cash amount or INR 500, whichever is higher, you will have to pay a fee of INR 500.
Also, as cash advances using credit cards do not come with an interest-free period, they attract finance charges from the day the cash is withdrawn to the date you repay the entire sum. The Axis Bank credit card cash withdrawal interest rate varies between 2.5 percent and 3.5 percent.
The credit card cash withdrawal charges on Axis cards vary from one card to another. The Axis credit card withdrawal charges of some of the top cards are mentioned below-
The Axis Bank Credit Card ATM withdrawal charges on My Zone Credit Card is 2.5 percent of the cash amount withdrawn. (minimum INR 500)
The Axis Bank Credit Card ATM withdrawal charges on NEO Credit Card is 2.5 percent of the cash amount withdrawn. (minimum INR 500)
The Axis Bank Credit Card ATM withdrawal charges on Indian Oil Axis Bank Credit Card is 3.4 percent of the cash amount withdrawn. (minimum INR 500)
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The cash limit is different from the credit limit and varies from card to card. You will be informed about the cash limit on your card when it is handed over to you.
Yes, you can transfer money from Axis credit card to a bank account. This is a useful tool for making payments for services that require the money to be debited from your bank account, such as home loans and car loans.