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Curious about how much fee is charged to withdraw cash with your SBI credit card? Here’s a quick look at the charges this entails.
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Apart from making cashless transactions easy, SBI credit cards also provide the provision of withdrawing cash from ATMs. It usually comes with a withdrawal limit that may vary from one card to another.
With an SBI credit card, you can benefit from this facility and manage your planned or unforeseen requirements conveniently. However, note that using this facility comes with certain charges. Knowing the SBI credit card cash withdrawal charges can help you make the right decision.
SBI Card has specified certain fees that you need to pay when you utilise the cash withdrawal facility. Here is a breakdown of the fees you need to pay when you facilitate cash withdrawal from an SBI credit card:
Particulars |
Fee |
Domestic Cash Withdrawal |
2.5% or ₹500 (whichever is higher) |
International Cash Withdrawal |
Disclaimer: The fees and charges are subject to change at the discretion of the issuer.
The cash advance limit determines the maximum cash amount you can withdraw with your card. For SBI credit cards, this limit is up to 80% of your credit limit, capped at ₹15,000 per day.
For example, if your credit card’s limit is ₹1,00,000, you can withdraw up to ₹80,000 in a month.
SBI Card levies a certain interest rate when you use your credit card for cash advances. This interest is charged from the moment cash is withdrawn, unlike other transactions. Here is a view of the interest charges:
Facility |
Charges |
|---|---|
Cash Advance |
3.5% monthly or 42% annually |
Disclaimer: The interest is charged over and above the cash withdrawal charges. These are subject to change at the discretion of the issuer.
You can conveniently access instant cash via any ATM using your SBI credit card, just like a regular debit card. Here's how:
Go to an ATM that allows you to make withdrawals using a credit card
Insert or swipe your SBI credit card into the ATM card slot
Enter your PIN and the amount you want to withdraw
Collect your cash, card, and transaction receipt
In emergencies, credit card cash withdrawals can help you get funds quickly. However, they have a few drawbacks. Here are the pros and cons of using this facility:
Credit card cash withdrawals provide quick funds in emergencies
ATMs offer easy access to physical cash when needed
Cash advances don’t require security like other loans
This facility doesn’t require paperwork or applications
Credit card cash withdrawals have high interest rates that start accruing immediately
Cash advance fees increase the overall fees of withdrawing funds
They do not come with a grace period as it attracts interest right away
The amount you can get through cash advances is often limited
Cash advances are not a long-term financial solution
Reference of all T&Cs necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Two of the major drawbacks of withdrawing cash from your credit card are:
You attract cash advance fee and interest
You can only withdraw up to your card’s cash advance or withdrawal limit
You can only use this facility if you qualify for it
Yes, you can utilise your SBI credit card to withdraw cash from other banks’ ATMs. However, this may lead to additional ATM fees.
No, this facility does not impact your credit score, provided you repay the amount and any applicable charges on time.
Typically, most issuers levy fees for cash advances. However, these charges could be waived off in case of some issuers. It is best to get in touch with the issuer for more details.
If you withdraw cash, SBI credit card cash withdrawal charges will apply. A withdrawal fee of 2.5% or ₹500 will be applicable. In this case, you will have to pay ₹500.
