In this article we will tell you how to withdraw money from SBI credit card? You will get complete information about withdrawing money from SBI credit card through this article. Through this, we will also give you information about how to withdraw money from SBI credit card and we will also tell you some points that you have to keep in mind while withdrawing money through a credit card.
A customer can avail a variety of benefits through an SBI credit card. Through this, he gets many benefits in online shopping like cashback, discounts, travel benefits, entertainment benefits, reward points etc.
Apart from this, SBI Credit Card also provides you the facility of cash withdrawal as and when required. You can easily withdraw cash from domestic ATM or international ATM whenever required through your SBI Credit Card.
It is worth noting that you have to pay a fee for withdrawing cash from SBI credit card. Often people understand that you will not have to pay any kind of fee for withdrawing cash from ATM through credit card. But it is not so that from the day you withdraw cash from the ATM, you have to pay interest on the amount withdrawn. This is charged on a daily basis until you return the funds taken in this withdrawal.
Below we have explained about the charges that you have to pay for withdrawing cash from SBI credit card-
- Cash Advance Fee:
When withdrawing cash through SBI credit card, you have to pay cash advance charges. This cash advance fee may vary from one SBI credit card to another.
When withdrawing cash from domestic ATM or international ATM through SBI Credit Card, you have to pay 2.5% of the withdrawn amount (minimum Rs500) as cash advance fee. You have to pay this interest on daily basis from the day you withdraw cash through Paytm.
- Finance Charges:
You also have to pay finance charges when you withdraw cash using ATM through SBI Credit Card. This finance charge is added on daily basis on the amount of cash withdrawn.
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How Much Cash Can Be Withdrawn From SBI Credit Card?
Through the above discussion it must have become clear to you that you can withdraw cash from your SBI credit card as and when required. Now the question arises that how much cash can you withdraw through your SBI credit card. We will now discuss further in this regard.
The credit limit of the credit card is decided at the time of issuing the credit card. You can use your credit card for transactions only within that credit limit. You can use up to 100% of this credit limit for your transactions. But there are some limits set on cash withdrawal from ATM through credit card.
How you cannot withdraw 100% of your credit limit through your SBI Credit Card. You can withdraw cash through ATM only a certain percentage of your credit limit. This cash withdrawal limit is determined by the bank.
Cash withdrawal limit through a credit card may vary from one SBI credit card to another. Generally, you can use 20% to 80% of the credit limit of your SBI credit card to withdraw cash from ATM. This entirely depends on the type of credit card.
If you want to avail the benefit of maximum cash withdrawal through ATM using your SBI credit card, then you will have to get the premium category credit card of SBI. In premium category credit cards, you can easily withdraw the maximum amount of your credit limit in the form of cash from ATM.