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A credit card’s primary feature is to allow you to conduct cashless transactions. However, with a credit card, you can also be given the provision for withdrawing cash via ATMs as a bonus by most issuers. These usually come with a withdrawal limit that may vary from one card to another. Choosing to do so could result in you incurring certain charges.

Credit Card Cash Advance Limit and Charges

Here are some important aspects to keep in mind before you decide to withdraw cash through your credit card:

1. Credit Limit and Cash Advance Limit

  • Credit Limit: Your credit card limit is the maximum amount that you can spend through your credit card. The credit limit is decided by the bank at their discretion depending on your eligibility. 

  • Cash Advance Limit: Your cash advance limit is the maximum amount that can be withdrawn in cash through your credit card. The typical cash advance limit for such credit cards is up to 80% of your credit limit or ₹15,000 per day.  

2. Withdrawal Charges

  • Domestic Cash Withdrawal: 2.5% or ₹500 (whichever is higher)

  • International Cash Withdrawal: 2.5% or ₹500 (whichever is higher)

  • Service charges: 

  1. Monthly: 3.5%

SBI Credit Cards and Their Cash Withdrawal Charges

Now that you’re aware about the various fees and charges associated with cash withdrawals through an SBI Card, you could begin your application journey. Bajaj Markets offers you a swift and frictionless application journey with minimal documentation involved. All you need to do is fill out an application form, upload a handful of documents, and submit your application. 

Frequently Asked Questions

What are the disadvantages of utilising the cash advance feature of a credit card?

 Two of the major drawbacks of withdrawing cash from your credit card are the cash advance fee and no benefits through reward points.

Can I withdraw cash from ATMs of other banks with my SBI credit card?

Yes, you will be able to utilise your SBI credit card to withdraw cash in other banks’ ATMS. However, they may impose their own cash withdrawal charges on your card for doing so.

Is withdrawing cash from my SBI credit card bad for my credit score?

No, your credit score will not be impacted on withdrawing cash from your credit card, provided you repay the amount along with the applicable charges on time.

Is there a way to withdraw funds from my credit card without being charged any fees?

Yes, the only way to avoid having to pay fees is by applying for a card that waives the cash advance fees, which is available with other issuers. 

What happens if I withdraw ₹10,000 through my SBI Credit Card?

If you withdraw cash through your SBI Credit Card, a withdrawal fee of 2.5% or ₹500 will be applicable. In this case, you will have to pay ₹500.

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