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

    ICICI Bank offers cash advance feature on most of its credit cards. ICICI credit card holders can make use of the feature to withdraw cash using their credit cards. It helps them in emergency and also provides a window to pay back along with interest. It acts as an instant loan which does not require any documentation or approval from the bank. However, a few cardholders are still not clear about the terms and conditions attached to ICICI cash advance, the charges levied, the interest charged, etc., that might possibly prevent them from using the feature. To all such individuals, here is a guide that covers most of the topics you need to know about ICICI credit card cash advance facility.

    What Is ICICI Credit Card Cash Advance?

    To begin with, let’s see what exactly is the cash advance feature offered by ICICI Bank or any other bank for that matter. Cash advance is a technical name for cash withdrawal facility available on a credit card. While a credit card is typically used to conduct offline and online card transactions, the cash advance feature allows the cardholders to withdraw cash from ATMs.

    ICICI cash advance feature is available on most of the ICICI Bank Credit Cards with almost similar fees and charges. However, the finance charges and other fees may vary from one card variant to another. Nevertheless, the fee and charges are subject to change at any point of time at the discretion of the bank.

    ICICI Credit Card Cash Withdrawal Limit

    Credit card cash limit or card advance limit is the amount of cash available for withdrawal on a particular credit card. It is typical a percentage of total credit limit of the credit card. Cardholders can withdraw cash using the credit card within the provided limit.

    ICICI Banks sets different cash limits for different credit cards. The cash limit on a particular credit card will be communicated at the time of card delivery. Further, on select ICICI credit cards, the cash limit will be zero for the initial 180 days after card issuance. Once the 180-day period is completed, the bank will make the cash advance facility available on the card.

    ICICI Bank Credit Card Cash Advance Fee

    Credit card cash advance fee is the amount levied on every credit card cash withdrawal. Every time you use your credit card to withdraw cash, you will have to pay certain fee, which will be added to your next month’s billing statement.

    ICICI Bank charges a cash advance fee of 2.5% of the withdrawn amount or Rs.300, whichever is higher, for most of the cards. The cash advance fee also attracts interest of 2.95% per month or 41.75% per annum from the date of withdrawal till the amount is paid back in full. The advance fee may also vary for withdrawals done at ICICI ATMs to non-ICICI ATMs, which typically attract more fee.

    Interest Charges On ICICI Cash Advance

    Just like credit card transactions at point of sale terminals and online portals, cash withdrawals are also eligible for finance charges.

    The charges will be levied at a monthly percentage rate from the date of withdrawal till the amount is paid back in full. The interest will be debited from the cardholder’s account till the payment is completely paid. ICICI typically charges rate of interest ranging from 2.49% to 3.5% per month depending on the credit card type. Cardholders can check the terms and conditions of their card to know card specific finance charges.

    Listed Below Are Finance Charges On A Few ICICI Credit Card Variants.

    ICICI Credit Card Variant Finance Charge or Interest Rate
    Monthly Rate Annual Rate
    Instant Platinum, Instant Gold and Fixed Deposit Instant Credit Cards 2.49% 29.88 %
    All other ICICI credit card except the above listed ones 3.40% 40.80 %
    Jet Airways ICICI Bank Credit Cards 3.50% 42%
    In case of default 3.5% (Max. interest rate) 42%

    The bank at its sole discretion have the rights to change the interest rates at any point of time for all the credit cards are for specific cards based on the spending pattern, payback and card utilization on the credit card.

    An important aspect about cash advances is that there is no interest free period. The interest will be levied from the date of cash withdrawal till the amount is paid back completely.

    How To Withdraw Cash Using An ICICI Credit Card?

    Withdrawing cash using an ICICI Credit Card is almost similar to withdrawing cash using a debit card. All you need to do is visit any of ICICI ATM kiosks, insert your credit card in the card slot and follow the instructions for cash withdrawal. Step-by-step process is provided below.

    • Visit ICICI ATM kiosk
    • Insert your credit card and enter the PIN, the same PIN which you use for credit card transactions
    • Select ‘Cash withdrawal’ from the menu
    • Enter the amount and press ‘ok’

    Once the cash is dispensed, you will receive a message on your registered mobile number. The amount will be debited from the total cash limit and credited to the total outstanding on the card. Before withdrawing the cash using the credit card, you need to check the available cash limit on the card to prevent over withdrawal.

    ICICI Bank Cash Withdrawal Fees And Charges

    A summary of all the charges applicable on ICICI cash advance facility is provided below.

    Description of Charges ICICI Credit Card Cash Advance
    Interest Free Period NIL
    Cash advance fee 2.5% of cash withdrawn or Rs.300 (whichever is higher)
    Minimum repayment amount 5% of outstanding amount or minimum Rs.200
    Cash advance limit Communicated at the time of card delivery
    Finance charges (on revolving credit) 2.49% - 3.5% per month

    Pros And Cons Of ICICI Cash Advance Facility

    Let us look at the advantages and disadvantages of using ICICI credit card cash advance facility.

    Advantages Of ICICI Cash Advance Facility

    • Instant cash without any balance
    • Can be used as emergency fund
    • No approval required from the bank
    • No need to submit any documents
    • Cash can be availed from any bank ATM
    • More your credit limit, more will be your cash limit
    • If unused, the same can be used for card transactions

    Disadvantages Of ICICI Cash Advance Facility

    • Attracts a cash advance fee for every withdrawal
    • Interest will be levied from the date of withdrawal
    • No interest free period
    • No reward points

    Frequently Asked Questions (Faqs) On ICICI Bank Credit Card Cash Advance Facility

    1. Where should I withdraw cash using my ICICI Credit Card?

      You can withdraw cash from any of the ICICI bank ATMs or other bank ATMs. However, cash withdrawn from other bank ATMs may attract more advance fee than ICICI ATMs.

    2. Where can I find the cash advance fee and finance charges on the cash advance?

      The cash advance fee and finance charges will reflect in your next billing statement.

    3. Can I increase cash limit of my ICICI Credit Card?

      In order to apply for cash limit enhancement on your credit card, you need to use your ICICI Credit Card at least for 12-18 months. Once you complete the period, you can call ICICI customer care to check the eligibility of your card for cash limit enhancement. You can also apply for it using your net banking account provided you register your card in the account.

    4. How to check cash limit and available cash advance on my ICICI Credit Card?

      You can either call ICICI customer care or check your ICICI internet banking account to find the total cash limit and available cash limit on the card.

    5. How many reward points can I earn for cash withdrawals made with ICICI Credit Card?

      The reward points programme offered by ICICI is not applicable for cash advances or cash withdrawals using credit card. You will not earn any reward points if you withdraw cash using your ICICI Credit Card.

    6. How much cash can be withdrawn from ICICI credit card?

      Almost most banks in India allow you to withdraw around 20% - 40% of your total credit limit. For example, if your total limit on the card is Rs.1 lakh, then you can ideally withdraw up to Rs.20,000 to Rs.40,000.

    7. Is it bad to withdraw money from credit card?

      Although you can withdraw cash using a credit card, you should note that the cost will be high. For all cash withdrawals, you will be charged a fee of around 2.5%.

    8. Does taking out a cash advance hurt your credit?

      When one withdraws cash using a credit card, the information and details are recorded on the credit file. This is available to all lenders. When thy see a credit card cash withdrawal transaction on the report, they may assume that you do not have any money left in your bank and this is why you are depending on your credit card.

    9. Can I withdraw money from ICICI credit card at an ATM?

      Yes, apart from offline and online transactions, credit cards can be used for withdrawing cash from the ATM. You can use the ICICI credit card for withdrawing cash from an ICICI ATM and also any other bank ATM.

      

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    ICICI Credit Card Cash Withdrawal Reviews

    • RBL Bank Credit Card
      "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.
      Was this review helpful? 79
      , chennai
      Reviewed on Mar 21, 2020
    • SBI Cards
      SBI Cards Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      SBI credit card have offers and reward points but I have not redeem them yet, this is a domestic card, the credit limit is of 50000 which I am very much satisfied as per my need. I got my statement on time. I used this card for personal purposes.The card is very user friendly.
      Was this review helpful? 85
      , hyderabad
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Ok service"
      0.5 5.0/5 "Blown Away!"
      I am using SBI credit card for more than three months, there are some reward points and offers in the card. I used this card for online shopping, fuel surcharge and groceries.The credit limit of the card is sufficient and I like the most about the card is that it is a life time free card and very good to use.
      Was this review helpful? 78
      , hyderabad
      Reviewed on Mar 21, 2020
    • 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.
      Was this review helpful? 62
      , jaipur
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am using INDUSIND credit card for 3 months. The card have no offers available and also there is no rewards. The only benefit is that its a life time free card and the credit limit is only for 75000 I am not that satisfied as i expected to get around 1.5 lakh. Apart from the limit over all experience is good.
      Was this review helpful? 61
      , chennai
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have got INDUSIND credit card few months ago and I have used it for two months now ,the credit limit of the card is Rs.70000 which is a life time free card. The bank have informed me every details about the reward points and offers but I have not got any time check it. I am satisfied with their card service.
      Was this review helpful? 62
      , hyderabad
      Reviewed on Mar 21, 2020
    • 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.
      Was this review helpful? 75
      , faridabad
      Reviewed on Mar 21, 2020
    • 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.
      Was this review helpful? 81
      , faridabad
      Reviewed on Mar 21, 2020
    • 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.
      Was this review helpful? 59
      , chennai
      Reviewed on Mar 21, 2020
    • 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.
      Was this review helpful? 57
      , coimbatore
      Reviewed on Mar 21, 2020
    • 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.
      Was this review helpful? 87
      , bangalore
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Average service"
      0.5 4.0/5 "Great!"
      INDUSIND bank credit card have an credit limit of of Rs.75000, there is no offers available in the card and it also have a charges of 3000 along with GST. I hardly receive any remainder messages for my bill payment due to that some time I could not pay my bill on time. I would advise them send my bill on time before the due date.
      Was this review helpful? 60
      , bangalore
      Reviewed on Mar 21, 2020
    • ICICI Bank Credit Card
      "Need to increase the credit limit "
      0.5 5.0/5 "Blown Away!"
      I have been using ICICI card for more than one year. They have provided an annual fee chargeable card and waiver off option is applicable. The credit limit is okay of 50K. Since I need to do purchase about 45K on some of the month so this limit is not sufficient. I swipe the card for travel, shopping and fuel purposes. I have not opted for EMI conversion.
      Was this review helpful? 62
      , kolkata
      Reviewed on Mar 21, 2020
    • Axis Bank Credit Card
      "Good card"
      0.5 4.0/5 "Great!"
      I have been using AXIS bank credit card for 3 years, Its a life time free card so I applied the card through bank. The agent have informed me everything about the card. I used to get offers of 10% on petrol bunk and shopping.The limit of the card is Rs.45000 and I used to pay my bill directly through bank.I am also using their net banking which is very good.
      Was this review helpful? 80
      , kolkata
      Reviewed on Mar 21, 2020
    • 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? 65
      , kolkata
      Reviewed on Mar 21, 2020
    • 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? 52
      , kolkata
      Reviewed on Mar 21, 2020
    • RBL Bank Credit Card
      "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.
      Was this review helpful? 87
      , ranchi
      Reviewed on Mar 21, 2020
    • HDFC Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      HDFC credit card is very convenience to use, I have been using the card for 4.5 months for Shopping, groceries, fuel surcharge and electricity bill payment also. I pay my credit card bill through ATM. I always get my bill on time, this card was suggested to me by the bank agent.
      Was this review helpful? 76
      , ranchi
      Reviewed on Mar 21, 2020
    • RBL Bank Credit Card
      "Okay service "
      0.5 3.0/5 "Satisfactory"
      I used RBL card for twice only. I get message or call for EMI conversion from banker. It is a life time free card. Once all the process done I received the card by 15 days. I am holding this card past 6 months. The credit limit is sufficient of 30K. Once I tried to convert for EMI of 3 months it was done on time without any problem. It is Bajaj card.
      Was this review helpful? 59
      , chennai
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I have been using SBI credit card for the last two months, the credit limit of the card was satisfied it was Rs.9,80,000. The bank agent came and collect my document he have informed me every detail about the card. The card have a charges of Rs.2299 in a year. I used to pay my credit card bill through bank. Am getting my card statement in softcopy but I wish the bank can send me a hard copy statement also.
      Was this review helpful? 95
      , gurgaon
      Reviewed on Mar 21, 2020
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