Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
RBL Bank offers the facility of cash withdrawal for its credit cardholders. This facility can be used during an emergency or to have a backup of cash flow in times of need. RBL Bank credit cardholders can opt for a cash withdrawal at any time.
Like other banks, the cash withdrawal facility for RBL Bank credit card will come with a maximum limit. It is advised that you speak with a representative of the bank to know the maximum withdrawal limit on your RBL credit card.
RBL Bank will charge a cash advance fee or a transaction fee when you opt for a cash withdrawal from your credit card.
A fee of 2.5% of the cash amount will be charged on your withdrawal transaction and will be subjected to a minimum amount of Rs.500.
For example, if you wish to withdraw Rs.10,000 from your credit card, a transaction fee of Rs.250 will be added to the total value and then billed.
When a credit cardholder opts for a cash advance, interest will be charged on the total amount withdrawn. RBL Bank will be charging a certain rate of interest on the cash advance during the repayment tenure.
However, since different credit card may carry different interest rates, it is advised that you get in touch with the bank through the RBL credit card customer care and enquire about the interest rate which will be charged on the cash withdrawal from the credit card.
To make a cash withdrawal with your RBL credit card, here are the steps that need to be followed:
Important Notice – Making cash withdrawals from other bank ATMs may attract additional charges.
Advantages:
Disadvantages:
The interest rate will vary from bank to bank and also from one credit card to another. The interest rate will be communicated to you when you get your credit card.
The cash limit of your card will be found in the billing statement of the credit card. You can reach bank's customer care and also ask for your cash limit.
Yes, you can withdraw cash from any MasterCard affiliated ATMs for MasterCard credit cards.
A fee of 2.5% of the cash amount will be charged on your withdrawal transaction and will be subjected to a minimum amount of Rs.500.
No documentation or bank approval required.
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