HDFC Credit Card Cash Withdrawal Charges
HDFC Bank provides the facility to its HDFC Credit Card user to withdraw cash through ATM machine whenever they require money. HDFC Credit Card users can withdraw cash from domestic or international ATMs through their HDFC Credit Card. Later you can repay this cash withdrawn amount as per your convenience.
You have to pay some fee on the amount withdrawn through ATM machine, which is known as HDFC Credit Card Cash Withdrawal Fee. This fee may vary from one HDFC credit card to another. You also have to pay finance charges.
HDFC Credit Card Cash Withdrawal Charges
Whenever you withdraw cash from an ATM through your HDFC credit card, you have to pay a fee. For cash withdrawal through HDFC Credit Card, you have to pay the following charges-
- Cash Advance Fee:
Whenever you withdraw cash from an ATM using your credit card, you have to pay cash advance fees. It can range from 2.5% to 3% of the amount withdrawn . It ranges from at least Rs 250 to Rs 500.
- Finance Charges:
You have to pay finance charges on all transactions done through credit cards. Therefore, you have to pay finance charge even on cash withdrawal from ATM machine. You have to pay this finance charge from the day you withdraw cash through the ATM till you repay it.
- Interest Rate:
You also have to pay interest rate on the cash amount withdrawn through ATM. Generally , interest on money spent using credit cards ranges from 1.99% to 3.5% per month .
It is worth noting that in normal transactions you are given interest free credit period, but in cash withdrawal you are not provided any interest free credit period.
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- ATM Charges:
You can withdraw only a certain number of cash from an ATM in a month. If you use the ATM more often than this for cash withdrawal, you may also have to pay ATM fees.
- Late Payment Fee:
If you do not pay your credit card bill on time, you may also have to pay late payment fees. It depends on the amount of the outstanding amount.
Benefits Of HDFC Credit Card Cash Withdrawal Facility
The benefits of HDFC Cash Advance facility are as follows-
- Through the cash withdrawal facility, an HDFC credit card holder can easily get cash whenever he needs money and fulfill his requirement.
- You do not need to make any effort to get cash this way. You just have to use your credit card in an ATM machine and you get cash in your hand.
- Through this facility you do not have to wait to receive cash. You can withdraw money from your credit card whenever required from any ATM 24 hours a day.
- You have to pay the fee only when you use the cash withdrawal facility. If you do not use the cash withdrawal facility, you do not have to pay any kind of fee.
- You can also choose to repay the money withdrawn through your credit card in easy monthly installments. Therefore, you can repay it gradually as per your convenience.
- You do not require any kind of documents to withdraw money through credit card.
- You do not need to take approval from the bank for this.
- Through the cash withdrawal facility, you can withdraw cash not only from domestic ATMs but also from international ATMs as per the need.
Disadvantages Of HDFC Cash Advance Facility
- You have to pay cash advance fee for every withdrawal through credit card.
- You have to pay the interest rate from the date of withdrawal through your credit card.
- You do not get any interest free credit period on the cash withdrawn in this manner.
- In this you are not provided any kind of reward point.
- You have to pay a higher interest rate as compared to regular credit card transactions.
HDFC Credit Card Cash Withdrawal Limit
With the help of your HDFC credit card, you can withdraw as much cash from the ATM machine as your credit card cash limit is. Your cash limit depends on the credit card limit.
The credit limit of a credit card is decided by the bank while issuing it. You can use your credit card for transactions only within this credit limit. Whenever you use the cash withdrawal facility of HDFC Credit Card, you can withdraw only a certain percentage of your credit card limit as cash through ATM.
The credit card cash limit has been fixed at 40% by HDFC Bank . This means that if you have a credit card limit of Rs.1 lakh then you can withdraw cash up to Rs. 40,000 through an ATM machine using your credit card.
Obviously, you can withdraw up to 40% of your credit limit as cash from the ATM machine.