Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Axis Bank Credit Card Cash Withdrawal

    Credit card cash advance or cash withdrawal is a facility provided by banks to give the credit cardholders access to cash that they can withdraw using their credit cards during times of crisis. This facility is offered by most banks in India. Almost all the credit cards offered by Axis Bank come equipped with the cash advance facility. However, the bank puts a cap on the amount of cash that can be withdrawn using a credit card and it also varies from card to card. The charges levied on using this facility, which is commonly known as the finance charges, also differ according the type of credit card an individual opts for. Let us take a detailed look at this facility, the benefits that come along with it as well as the charges it attracts.

    Axis Bank Credit Card Cash Withdrawal Limit

    Cash withdrawal or cash advance limit is the amount of cash the cardholder can withdraw using a specific credit card. Cardholders can withdraw cash using their credit limit within the set limit.

    Axis Bank sets different cash advance limits for different credit cards. The cash limit on a particular credit card is communicated to the cardholder at the time of delivery of the card. Also, for a few cards, Axis Bank prefers to keep the cash limit to zero for the first 180 days from the date of issuance. After the completion of this period, the cardholder is allowed to avail the cash advance facility.

    Axis Bank Credit Card Cash Advance Fee

    Axis Bank, like most other banks in India, charges a cash advance fee. This is a transaction fee that the cardholder needs to pay each time they withdraw cash using their credit card. This fee will be added to their credit card bill in the following statement.

    Axis Bank charges a cash advance fee of 2.5% of the amount withdrawn or a minimum of Rs.250 (whichever is higher). For instance, if the cardholder withdraws Rs.1,000 using their Axis Bank credit card, they will have to pay Rs.250 as the cash advance fee in the next billing cycle. However, if they withdraw Rs.15,000 using their Axis Bank credit card through an ATM, they will have to pay Rs.375 as the cash advance fee in the next billing cycle. However, Axis Bank holds the right to change the cash advance fee any time.

    In addition to this, cash advances also attract a finance charge from the date the amount is withdrawn using the credit card till it is repaid in full.

    Interest Charged On Axis Bank Cash Advance

    When cardholders avail the facility of cash advance, Axis Bank levies a finance charge. Put simply, this is the interest that the cardholder will have to pay on a monthly rate from the date of withdrawal till the amount is repaid in full. Axis Bank levies different finance charges on different cards. The range of interest varies from 2.50% to 3.35% per month. Individuals can check the finance charges of a card before applying for it.

    Listed below are the finance charges of a few Axis Bank credit cards:

    Axis Bank credit card variants Rate of finance charge or interest on cash advance
    Monthly Rate Annual Rate
    Axis Bank Insta Easy credit card 2.50% 34.49%
    Axis Bank SELECT credit card, Axis Bank Reserve credit card, Axis Bank Vistara credit card, Axis Bank Vistara Signature credit card, Axis Bank Vistara Infinite credit card, Axis Bank Miles or More credit card, Axis Bank Miles and More World credit card, Axis Bank Pride Platinum credit card, Pride Signature credit card, Axis Bank Signature credit card, Axis Bank My Wings credit card 2.95% 41.75%
    Axis Bank Buzz credit card, Axis Bank Neo credit card, Axis Bank Platinum credit card, Axis Bank My Choice credit card 3.25% 46.78%
    Axis Bank Titanium Smart Traveler credit card 3.35% 46.78%
    Axis Bank My Zone credit Card 3.68% 46.78%

    How To Withdraw Cash Using An Axis Bank Credit Card

    Cardholders can withdraw at any of the ATMs, and not specifically from Axis Bank ATMs. The procedure to avail cash advance from ATMs using a credit card is similar to that of using a debit card.

    Listed below are steps that the cardholder needs to follow:

    • Cardholder needs to step into an ATM.
    • Next step is to insert their Axis Bank credit card in to the slot.
    • Then, the cardholder will need to select his preferred language from the ones listed on the screen.
    • Next, they will need to select the option of “Cash Withdrawal.”
    • Once they do that, they will need to enter the amount they wish to withdraw and tap on “Enter.”
    • Next, they will need to type the PIN of the credit card. Once they do that, cash will be dispensed from the ATM machine.

    Axis Bank Cash Advance Fees And Charges

    Listed below are the fees and charges levied on the cash withdrawal feature of Axis Bank credit cards:

    Description of charges Percentage of the charge
    Interest-free period Nil
    Cash advance fee 2.5% of the amount withdrawn or Rs.250 (whichever is higher)
    Minimum repayment amount 5% of the minimum outstanding balance
    Cash advance limit Depends on the type of credit card that the applicant has opted for
    Finance charges on revolving credit
    • A monthly rate of 2.50% or an annual rate of 34.49%.
    • A monthly rate of 2.95% or an annual rate of 41.75%.
    • A monthly rate of 3.25% or an annual rate of 46.78%.
    • A monthly rate of 3.35% or an annual rate of 46.78%.
    • A monthly rate of 3.68% or an annual rate of 46.78%.

    Pros And Cons Of Axis Bank Cash Advance Facility

    Like most other features of credit cards, the cash withdrawal facility also has its share of pros and cons. Let us take a detailed look at the advantages and disadvantages of withdrawing cash using an Axis Bank credit card:

    Advantages of cash advance:

    • Cardholders don't need to get an approval from the bank to withdraw cash.
    • The documentation process required to avail this facility is simple and convenient.
    • Cardholders are free to withdraw cash during times of emergency and to pay at places where card transactions aren't accepted.
    • They can withdraw cash from ATMs located in the country as well as outside.

    Disadvantages of cash advance:

    • Cardholders don’t earn any reward points while using this facility.
    • Cardholders are required to pay a fee every time they withdraw money using their credit card.
    • They will also need to pay an interest from the date of withdrawal of the cash.
    • There is no interest-free period.
    • The interest charged is more than regular card transactions.

    Frequently Asked Questions (FAQs):

    1. What is the difference between credit limit and cash limit on a credit card?
    2. Credit limit is the maximum amount of credit the bank provides to a cardholder through a line of credit on a single card whereas cash limit is the portion of it that they can withdraw in the form of cash from an ATM.

    3. How much cash can I withdraw using my credit card?
    4. It depends on the type of Axis Bank credit card you own. Each credit card offered by Axis Bank has a different cash withdrawal limit which is communicated to the cardholder at the time of delivery of the card.

    5. How will the bank notify me about the withdrawal of cash using my credit card?
    6. You will receive an SMS on your registered mobile number each time you withdraw cash using your credit card.

    7. Will I have to inform the bank before using my credit card to withdraw cash?
    8. No, you don’t have to get an approval from the bank or inform them before using your credit card to withdraw cash.

    9. When will I have to repay the amount that I withdrew using my credit card?
    10. It will be included in the following billing cycle and will show up on your credit card statement.

      

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    Axis Bank Credit Card Cash Withdrawal Reviews

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      "Easy to convert for EMI "
      0.5 4.0/5 "Great!"
      I got RBL card offer from BAJAJ Finance. I have been using this card past 10 months which is a life time free card. The credit limit is sufficient of 55K. EMI conversion is avail and I can convert via mobile app whenever required with nominal charge. I use this card for general purpose. Based on usage I get points but not yet redeem it.
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    • SBI Cards
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      "Good service"
      0.5 4.0/5 "Great!"
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      "Ok service"
      0.5 5.0/5 "Blown Away!"
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    • IndusInd Bank Credit Card
      "Ok service"
      0.5 5.0/5 "Blown Away!"
      The bank agent suggest me to take credit card from INDUSIND and I have taken it because it doesn't have any annual fee. The offer and reward points are available in the card are good. I am satisfied with the limit of the card. I used the card for general purposes. But it will be nice, if the offers and reward points will be more.
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      "Good service"
      0.5 5.0/5 "Blown Away!"
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    • IndusInd Bank Credit Card
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      0.5 5.0/5 "Blown Away!"
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    • ICICI Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Am having ICICI credit card for two years, I feel good and have not face any issues. The best part about the card is its a life time free card. I used to get my card statement on time. I used this card for shopping, groceries and for many other personal purposes.I am using the bank mobile app which function smooth and simple.
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    • SBI Cards Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have used SBI credit card for 2-3 months, but I have not got any time to check about the offers available in the card. The limit of the card is 38000 and I am satisfied because its a life time free card. I used to get my card statement on time and the net banking is also working very well.
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    • IndusInd Bank Credit Card
      "Good service "
      0.5 4.0/5 "Great!"
      Since it is a life time free card offer from INDUSIND so I chosen it and applied through online. I received a call on time and they have done the verification process. Hence I received the card by 7 days, the credit limit is okay for me. Its easy to use for all purposes.
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    • Citibank Credit Card
      "Good "
      0.5 4.0/5 "Great!"
      CITI has provided good offers and benefits on 2 months before. So I chosen this card and applied through online. It is annual fee chargeable of 500 rupees bu there is waiver off option if I spend 30K within a year. The credit limit is 65K. There is EMI conversion avail for this card.
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    • HDFC Bank Credit Card
      "very good"
      0.5 5.0/5 "Blown Away!"
      I have used credit card from HDFC bank for 1 year which is very good and also very comfortable, its a life time free card and lots of offers are available in the card. This card was suggested to me by my colleague. Mobile banking also functions very smooth.
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    • IndusInd Bank Credit Card
      "Average service"
      0.5 4.0/5 "Great!"
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    • ICICI Bank Credit Card
      "Need to increase the credit limit "
      0.5 5.0/5 "Blown Away!"
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    • Axis Bank Credit Card
      "Good card"
      0.5 4.0/5 "Great!"
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      Was this review helpful? 74
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    • IndusInd Bank Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      I got INDUSIND credit card from few months ago.The card have an EMI conversion. I used the card for multi purposes like shopping, online payment, ticket booking. This is annually chargeable card, I am not satisfied with the credit limit of Rs.75000 as I am expecting more than than 1 lakh.
      Was this review helpful? 61
      , kolkata
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    • IndusInd Bank Credit Card
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I got a life time free card offer from INDUSIND bank hence applied through online on three months back. I received the call on time and the process was done on smooth. I got the card on exact time frame. The credit limit is sufficient and they provided good offers and benefit as well.I use this card for shopping and travel purpose.
      Was this review helpful? 49
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      "Average service"
      0.5 1.0/5 "Really Bad"
      RBL credit card is a chargeable card, I always have to go to Bajaj Finance to pay my credit card bill. I am not satisfied with the customer service which has to be improved. I used this card when ever needed for shopping, fuel surcharge and bill payment.The limit of the card is fine.
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      "Good service"
      0.5 5.0/5 "Blown Away!"
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      "Okay service "
      0.5 3.0/5 "Satisfactory"
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      Was this review helpful? 55
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    • SBI Cards Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
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