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ICICI Bank Credit Card Cash Withdrawal

ICICI Bank credit cards not only allow you to purchase items but also to withdraw cash from ATMs in case of an emergency. This cash-advance facility acts like an on-the-spot loan. 

 

The ICICI Bank Credit Card cash withdrawal option has a certain limit to how much you can withdraw as a cash advance. In addition, opting for the facility also attracts ICICI Bank credit card cash withdrawal charges.

Key Highlights of ICICI Bank Credit Card Cash Withdrawal

Check out the key highlights of credit card cash withdrawal from ICICI Bank.

  • The limit for cash withdrawal from the credit card ranges between 20% and 40% of the credit limit

  • The ICICI Bank Credit Card cash withdrawal charges include a cash advance fee

  • The cash advance fee ranges between 2.5% and 3% of the withdrawn amount or ₹250 and ₹500 (whichever is higher)

  • Interest on the cash advance is 3.40% monthly and 40.8% yearly

How to Withdraw Cash from an ATM Using an ICICI Bank Credit Card

ICICI Bank Credit Card ATM withdrawal is quite easy, and you can withdraw the cash whenever required. Follow the steps mentioned below.

  1. Visit a nearby ICICI Bank ATM

  2. Insert the credit card in the ATM slot and enter your PIN 

  3. Select the ‘Cash Withdrawal’ option once the menu appears on the ATM screen

  4. Enter the amount you wish to withdraw  

  5. Tap or press the ‘OK’ button to complete the process

ICICI Bank Credit Card Cash Withdrawal Charges and Fees

The ICICI Bank credit card cash withdrawal charges are available in the terms and conditions of the cards. You can check these details when you apply for the credit card. The ICICI Bank Credit Card cash withdrawal charges or cash advance fee imposed by ICICI Bank is one of the lowest in the market. 

 

The bank adds this amount to the next month’s credit card billing. Other than the fee, the bank levies a monthly interest from the withdrawal date until you pay the amount completely.

Advantages and Disadvantages of ICICI Bank Credit Card Cash Withdrawal

Here are some of the advantages of using the ICICI Bank Credit Card cash withdrawal facility:

  • Better access to funds during emergencies

  • No need to have any balance in the savings account

  • Bank approval is not necessary

  • Zero documentation

  • Easy cash advance than any other bank in the market

  • Your credit limit determines the cash withdrawal limit

 

But then, you need to be aware of these disadvantages as well: 

  • Every transaction attracts a fee

  • There is no interest-free period

  • Interest is calculated immediately from the date of cash withdrawal

  • No reward points for these transactions

 

In conclusion, when applying for a credit card from ICICI Bank, the ICICI Bank Credit Card withdrawal charges are an essential factor you must consider. On Bajaj Markets, you can easily explore different credit cards and apply for the one that best suits your needs.

FAQs on ICICI Bank Credit Card Cash Withdrawal

What are the ICICI Bank Credit Card cash withdrawal charges?

The ICICI Bank Credit Card cash withdrawal charges are higher than for any other online or offline transaction. It is generally around 2.5% to 3% on the withdrawn cash.

How much cash can I withdraw from ICICI Bank?

If you plan on taking money from the bank directly, there is no capping, and you can withdraw the entire amount available in your account. However, for ATM-based transactions, the limit is set at ₹25,000.

How to check the cash limit and available cash advance on my ICICI Bank Credit Card?

You can check either of the details by logging into the internet banking account or calling customer care support.  

Does taking cash from an ICICI Bank Credit Card affect your credit rating?

Opting for the ICICI Bank Credit Card cash withdrawal or advance facility has no direct impact on your credit score. However, if you fail to repay the withdrawn amount, it will have a negative impact on your credit score. 

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