The process to Withdraw cash from a credit card with SBI Card’s ATM Cash facility. You can Know credit card cash withdrawal charges and how to withdraw cash using SBI Credit Cards.
SBI credit card cash withdrawal charges.SBI Bank is the topmost bank in Indian Banks, this bank offers many convenient services to its customer, which, SBI Bank credit card is also concerned, if you have an SBI bank credit card, regardless of credit card variants; but you think to withdraw cash from ATM machine;
then this article is Good for you will be aware of fees and charges of withdrawing cash from ATM using SBI credit card; SBI credit card holders have been offered many benefits on their credit card which is about to get from the bank side,
but all those benefits to be availed under certain terms and conditions which they should know about that because the majority of credit cardholders understand cash withdrawal facility on a credit card is just an additional benefit which they can use like a Debit card in terms of ATM cash withdrawal without any charges; which is not like that at all;
SBI credit card cash withdrawal charges information
Cash advance fee is levied whenever money is withdrawn from ATM machine, with that Bank does levy the cash withdrawal charges on each cash withdrawing transaction, therefore credit cardholders must understand how do these charges often levy,
Bank has demonstrated that cash transaction(In case of money withdraw) made via ATM machine is free up to a certain amount which is less than the expected amount 200 rupees but for once; whereas ATM cash withdrawal amount is higher than or equal to 500 rupees then 2.5% of cash advance fee will apply on total withdrawn amount, and minimum 500 rupees charges will be applicable, but in terms of charges, whichever is higher charges are applicable;
For example – 600 rupees was withdrawn from ATM Machine using an SBI credit card, then cash advance fee should be applicable in such way- 600*2.5/100= 15 but charges will apply a minimum of 500 rupees; because this is minimum cash withdrawal charges determined,
Example 2- 60000 rupees cash withdrawal was made via ATM through SBI credit card, then Cash charges will be applicable – 60000*2.5/100=1500 rupees, so here charges will apply 1500 rupees instead of 500 rupees on your SBI credit card,
Note– Bank does start levying interest charges from the day you use a credit card for cash withdrawal from ATM machine,
SBI credit card withdrawal charges also depend on either Domestic or International ATM transaction, whatever, but the Bank will put a charge of 2.5% of the total cash withdrawal amount or 500 rupees (Whichever is the higher amount in charges),
whereas on international ATM cash withdrawal is also applicable with the same rule a fee of 2.5% or 500 rupees (whichever is higher) but credit cardholders have to pay monthly or annually service charges also, monthly service charges are up to 3.5% per month or 42% annual service charges will apply; now you understand credit card cash withdrawal charges
What is SBI credit card cash withdrawal Limit
Every bank has stimulated a certain cash limit to use through Credit card, Similarly SBI Bank also prescribed so on your SBI credit card is pre-eligible to use 30% cash limit of total credit limit: typically sort of credit card limit is denoted in % percentage which you can use by using your credit card,
For Instance- If you have a credit card with the Limit of 150000 Rupees, if the cash limit is assigned 30% of the total credit limit then – you can withdraw 150000*30/100=45000 rupees,
but the disadvantage I often notice is, limit of credit cards can’t be reset until/unless you get pre-approval from Bankside because the deal to be communicated between the Bank and customers ascertained at the time of credit card issuing;
When to use SBI credit card cash withdrawal
Personally, I would recommend you use your credit card for other online transactions rather than cash withdrawal from your credit card, but in case of emergency of money, You can initiate cash withdrawal from your SBI credit card, anyway, after withdrawing money from ATM, try to make payment as early as you are able to do;
Making a quick payment on your credit card for SBI credit card cash withdrawal could stop levying interest charges on cash advance fee, that sort of interest charges also known as Finance charges, therefore you should know the description of the charge on the variant of SBI credit cards;
SBI Bank Credit card cash advance fee& charges details
|The variant of SBI bank credit cards||Finance charges rate on Cash advance fee|
|SBI Prime Advantage credit card||3.35% P.M & 40.2% Annually|
|Central SBI Select plus Card||3.35% P.M & 40.2% Annually|
|Central SBI Select credit Card||3.35% P.M & 40.2% Annually|
|SBI Card Elite||3.35% P.M & 40.2% Annually|
|SBI Card Prime,||3.35% P.M & 40.2% Annually|
|simply save click SBI card,||3.35% P.M & 40.2% Annually|
|SBI Card Elite Advantage||2.25% P.M & 30 % Annually|
|SBI Card Unnati credit card||2.25% P.M & 30 % Annually|
How to withdraw cash from ATM Machine using SBI credit card?
SBI credit card variants absolutely are supportive in any of Indian bank’s ATM machines even On international ATMs also, your SBI credit card is pre-approved for ATM cash transaction, which can be used any time and any moment without an interrupting,
to take the money from ATM using an SBI credit card, go through the below steps –
- Visit your nearest ATM Machine and make sure to check if money is available at that ATM or not
- Put your SBI credit card in That ATM machine
- Select the preferred language you see on ATM Screen
- Choose the option Cash withdrawal among given other options
- Enter the Amount you wish to withdraw from a Credit card
- Enter the SBI credit card ATM pin to initiate the transaction
Why should I avoid SBI credit card cash withdrawal
There are multiple reasons that you should avoid SBI credit card cash withdrawal, one of the reasons is debt burden, here is the guide, you can read, to know, how to use a credit card wisely, if you are a new user holding a credit card, then it may be a good choice for you, therefore you should know the procedure of using a credit card,
Moreover, when you go to SBI Bank branches in order to do cash payment, then you will pay 100 rupees as a cash payment fee, thus, at every cash withdrawal, you pay the charges in such ways – Total cash withdrawal amount = Cash advance fee+ finance charges, and during cash payment = 100 rupees fees,
Now you understand what happens when you have credit card cash withdrawal
How can I repay my credit card cash withdrawal?
Ans- You can visit the nearest SBI Bank branch and can do cash payment for cash withdrawal,
Is withdrawing cash on a credit card Good?
Ans- It depends on when you use it, in case of an emergency when you do not have money apart from a credit card, then in this situation, it may be Good, however, try to avoid credit card cash withdrawal if you want to escape charges,
The expected charge for cash withdrawal on a credit card
Ans- It depends on the amount you withdraw, whatever the amount could be, but the charges may vary 2.5% to 3% of the withdrawn amount but it is also subject to a minimum cash advance fee of 500 rupees, to know more details how does it levy, please read above
How can I get cash on an SBI credit card when the card is closed?
Ans- If your SBI bank credit card is closed then you will not be able to get cash, so you can either re-activate your credit card or else apply for a new SBI credit card,
Can I get cash withdrawal after I paid all the outstanding dues of credit card?
Ans- Yes, you will get a cash withdrawal facility
What will happen if I deposit withdrawal after the billing date and before the due date of the credit card?
Ans- Remember please, The bank does start levying interest charges from the cash withdrawal day, therefore, the more you get late in terms of depositing cash withdrawal amount the more interest charges will be levying,
Hope you found this article about the credit card cash withdrawal charges information helpful, if you have a doubt, write your question in the comment section,