ICICI Credit Card Cash Withdrawal Charges

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ICICI Bank allows their credit card holders to withdraw cash from ATMs in case of emergencies. This is essentially a cash advance that’s offered by the card issuer. It’s important that you are aware of the charges associated with this facility so you can be an informed cardholder.

Fees and Charges Associated with ICICI Bank Credit Card Cash Withdrawals

Here are some of the fees and charges that may be levied on your ICICI Bank Credit Card cash withdrawal:

Type of Charge	Amount
ATM Cash Withdrawal Charges	2.5% of the withdrawn amount
Interest Rate on Cash Withdrawal	2.49% to 3.5% per month
Cash Advance Fee	2.5% of the withdrawal amount or ₹300, whichever is higher

Disclaimer: Fees and charges are entirely under the purview of the card issuer and can be changed without prior notice. Kindly get in touch with ICICI Bank’s representatives to get a better understanding of fees and charges associated with cash advances.

Important Points to Keep in Mind While Opting for a Cash Withdrawal

Here are some important points that you need to keep in mind while getting an ICICI Bank credit card cash withdrawal.

Credit card cash withdrawals are designed to meet emergency cash requirements and should be used as such. This is because they come with various fees and higher rates of interest.
Purchases made using credit cards come with an interest-free period, known as grace period. This interest-free period does not extend to cash withdrawals. This means that your cash advance will start accruing interest from the date of withdrawal.
Every instance of cash withdrawal will incur a cash withdrawal fee. So, it’s best that you pay-off the entire withdrawn sum in one go if you’re able to.
You will not be able to accumulate reward points on cash withdrawal transactions.
The maximum withdrawal limit is usually a percentage of your total credit limit, it’s usually 20%. But, it’s best to check with your card issuer before transacting to avoid withdrawal rejections or overdraft fees.
When used judiciously, credit card cash withdrawal can be a blessing during times of distress. You won’t have to worry about lengthy loan application processes or get prior approval. All you need to do is go to an ATM near you and make a withdrawal.

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ICICI Bank’s Credit Card cash withdrawal fees tend to vary depending on the card variant. However, it generally ranges from 2.49% to 3.5% per month

There are usually limitations on the amount of money you can withdraw with your credit card. Cash advances are generally limited to 20% of your credit limit. That being said, it’s best you check with your credit card provider about the cash withdrawal limit on your credit card variant.

You can check the cash advance limit available on your credit card by logging in to ICICI Bank’s netbanking app or website. Now, choose your card under the ‘Cards and Forex’ section. You’ll be able to view your credit limit and cash withdrawal limit there.

It’s unlikely that a cash advance would impact your credit score negatively, provided that you repay it on time. However, making too many cash advances can be a poor reflection of your finance management on your credit profile.

Making credit card cash withdrawals once in a while is fine, as long as you repay it on time. However, it’s best to build an emergency fund instead of relying on credit card cash withdrawals during emergencies.