Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Credit card cash withdrawal is also known as cash advance. With the facility, you can withdraw cash up to a limit (assigned by the bank) using your credit card, at the bank counter or an ATM. The amount of cash you can withdraw using your credit card differs from one card to another.
The credit card cash withdrawal limit will be assigned to you based on the bank's criteria. The bank will look into a lot of factors before they set your credit limit. An add-on credit cardholder will have the same credit limit as the primary cardholder.
| Type of charge | Fee |
|---|---|
| Revolving credit charge |
|
| Cash advance fee | 2.5% of amount withdrawn, subject to a minimum of Rs.100 |
| Limit for cash advance |
|
| Cash processing fee | NIL |
Yes, you are allowed to use your credit card to withdraw money from any bank ATM.
Yes, the cash advance limit will increase when the credit limit of your credit card has been increased.
Yes, the withdrawn amount using your credit card will reflect in your statement in the next billing cycle.
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