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  • SBI Credit Card Cash Withdrawal

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  • Cash advance is a facility that is provided by most banks in India. Using this, a credit cardholder can withdraw cash up to a certain limit over the counter at a bank or through an ATM. SBI also provides this service to its customers who possess a credit card that is offered by the bank. Almost all the credit cards offered by SBI come equipped with this facility and can be used to withdraw cash from an ATM. However, the amount of cash that can be withdrawn vary from card to card and so do the charges levied on availing this facility.

    Let us take a detailed look at this facility, the benefits that come along with it as well as the charges it attracts.

     

    SBI Credit Card Cash Withdrawal Limit

     

    Cash withdrawal or cash advance limit is the amount of cash the cardholder can withdraw using a particular credit card. Mostly denoted in terms of percentage, it is the part of the total available credit limit on the card in question.

    For example, if the credit limit of a particular card is Rs.2 lakh, the cash advance limit on it would vary between 20% and 80% of the same. If the cash limit is 20%, the cardholder can withdraw Rs.40,000 as cash by using their credit card. Similarly, if the cash limit is 80%, the cardholder will be allowed to withdraw Rs.1,60,000 using the credit card. SBI typically offers a cash advance limit of 80% on most of its credit cards.

     

    SBI Credit Card Cash Advance Fee

     

    SBI, like all other banks, charges a cash withdrawal 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.

    SBI charges a cash advance fee of 2.5% of the amount withdrawn or Rs.300 (whichever is higher), whereas for international transactions, a fee worth 3% or Rs.300 (whichever is higher) is levied. For instance, if the cardholder withdraws Rs.1000 using their SBI credit card, they will have to pay Rs.300 as the cash advance fee in the next billing cycle. However, if they withdraw Rs.15,000 using their SBI credit card through an ATM, they will have to pay Rs.375 as the cash advance fee in the next billing cycle. However, SBI 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 SBI Cash Advance

     

    Cardholders need to pay an interest on availing the facility of cash advance on any credit card offered by SBI. Interest on cash advance or finance charges are levied on a monthly rate from the day cash is withdrawn using the credit card till the amount is repaid in full. Under SBI, each credit card has a different rate of interest ranging from 2.25% per month to 3.35%. Applicants can check the same before applying for an SBI credit card.

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

     
    SBI credit card variant Rate of finance charge or interest on cash advance
    Monthly Rate Annual Rate
    SBI Card Elite Advantage, SBI Card Unnati 2.25% 30%
    SBI Card Elite, SBI Card Prime, SBI Prime Advantage, SimplyCLICK SBI card, SimplySAVE SBI Card, Central SBI Select+ Card, Central SBI Select Card, STYLEUP Contactless Card, BPCL SBI Card 3.35% 40.2%
     

    How To Withdraw Cash Using An SBI Credit Card

     

    Cardholders can withdraw at any of the ATMs, and not specifically from SBI 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 SBI 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.”
    • Cash will be dispensed immediately.
     

    SBI Cash Advance Fees And Charges

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

     
    Description of charges Percentage of the charge
    Interest-free period Nil
    Cash advance fee 2.5% of the amount withdrawn or Rs.300 (whichever is higher)
    Minimum repayment amount 5% of the minimum outstanding balance
    Cash advance limit 80% of the total credit limit available
    Finance charges on revolving credit
    • A monthly rate of 2.25% or an annual rate of 30%.
    • A monthly rate of 3.35% or an annual rate of 40.2%
     

    Pros And Cons Of SBI Cash Advance Facility

     

    Like every other feature of a credit card, the cash advance facility also comes with a bunch of pros and cons. Let us take a detailed look at the advantages and disadvantages of withdrawing cash using an SBI credit card:

    Advantages Of Cash Advance:

    • Cardholders have the freedom of withdrawing cash during times of emergency and to pay at places where card transactions aren't accepted.
    • This process doesn't require any kind of documentation and is simple.
    • Cardholders don't need approval from the bank to withdraw cash.
    • They can withdraw cash from ATMs located in the country as well as outside.

    Disadvantages Of Cash Advance:

    • Cardholders need 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.
    • Cash advance doesn’t come with reward points.
    • The interest charged is more than regular card transactions.
     

    Frequently Asked Questions About The Cash Advance Facility Available On SBI Credit Cards

     
    1. Is it possible to withdraw cash using an SBI credit card form an ATM of any other bank?
    2. Yes, you can withdraw cash using an SBI credit card form an ATM of any other bank.

    3. Is there a limit on the amount of money I can withdraw using an SBI credit card?
    4. Yes, you can only withdraw 80% of your credit limit.

    5. Do I get any reward points on using the cash advance facility?
    6. No, you can’t earn any reward points on using the cash advance facility.

    7. When will the withdrawn amount of cash reflect in my credit card bill?
    8. The amount of cash withdrawn will reflect on your following billing cycle.

    9. Will my cash advance limit also increase if I stretch my credit limit?
    10. Yes, your cash advance limit will increase if you stretch the credit limit on your card.

      

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    SBI Credit Card Cash Withdrawal Reviews

    • Axis Bank Credit Card
      "Best Service"
      0.5 3.5/5 "Pretty good"
      I have Axis bank credit card which was applied through Bank directly.I am using this credit card for the past 8 months .This was a chargeable card .The credit limit was really good and it was sufficient .I have got this credit card on time and got all the details about the card process.
      Was this review helpful? 1
      , vellore
      Reviewed on Sep 13, 2019
    • ICICI Bank
      ICICI Bank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using ICICI Bank credit card which was directly taken through Bank .I am using this credit card for the past 3 years .I have got a very good credit limit and got all the required information about the card process This was a free card .I have not used and checked cash back offers and reward points .
      Was this review helpful? 1
      , surat
      Reviewed on Sep 13, 2019
    • HDFC Bank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using HDFC Bank credit card which was directly taken through Bank .I am using this credit card for the past 3 years .I have got a good credit limit and got all the relevant information about the card process.I have not checked cash back offers and reward points .I have not used this card much so far.
      Was this review helpful? 2
      , surat
      Reviewed on Sep 13, 2019
    • Canara Bank Credit Card
      "Good Credit Card"
      0.5 5.0/5 "Blown Away!"
      I have a credit card of Canara bank with life time free benefits, but I am not using it often. The credit limit is sufficient for my transactions, I have been holding this card from 2006 I didn't request for any upgrade on the card because I don't have interets however there is no hidden charges taken from my end.
      Was this review helpful? 0
      , panipat
      Reviewed on Sep 13, 2019
    • Bank Bazaar Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I came to know about Bank bazaar through Online .This website is really doing a very good service .Customer service is really good and comfortable to me so far .Each and every financial products will be processed in a smooth manner it is really good .I am really satisfied with the service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 13, 2019
    • IndusInd Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using Indusind Bank credit card which was applied through Online .This card is having a very good credit limit and also there are reward points as well cash back offers which is really convenient .There was no difficulties faced so far on using this credit card .I am really satisfied with the service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 13, 2019
    • Bank Bazaar Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I came to know about Bank bazaar through Online .This website is having a better facility to check credit score since it is a free service can check whenever necessary .Whatever the needs it will be fulfilled through this portal .We can get all the information such as loans and credit cards and also update to information will be received when apply for any products.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 13, 2019
    • IndusInd Bank Credit Card
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using Indusind Bank credit card which was applied through Online .In this credit card will have offers for Shopping and movie ticket bookings which is really good .I have got this credit card on time .The credit limit was 93,000 and it was really sufficient .There was no drawbacks faced while submitting the documents .
      Was this review helpful? 1
      , pune
      Reviewed on Sep 13, 2019
    • Bank Bazaar Credit Card
      "Good"
      0.5 4.0/5 "Great!"
      I have downloaded Bankbazaar's mobile application. I get to see my updated credit score through Bankbazaar's mobile application. It's very simple and easy to use. I had come to know about Bankbazaar from an advertisement. Happy with their service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 13, 2019
    • IndusInd Bank Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      I received my INDUSIND BANK PLATINUM AURA EDGE MASTER CARD. Credit limit is lower than I expected. I was expecting 1 lakh but they have given only 75 thousand. I had received the card on time and annual fee is free.I am getting reward points and offers.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 13, 2019
    • Bank Bazaar Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have been using Bankbazaar's website for the past 8 to 10 months. I used to check my credit score on Bankbazaar's website. Their customer care executives were very helpful. They had provided clear information when I applied for credit card.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 13, 2019
    • IndusInd Bank Credit Card
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied an Indusind Bank credit card. I received the card on time. There was no problem submitting the documents. I have got sufficient credit limit.I have received the card on time and it is a lifetime free card. Reward points are good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 13, 2019
    • Bank Bazaar Credit Card
      "Informative Website"
      0.5 5.0/5 "Blown Away!"
      I am getting more service from Bank Bazaar.com, whenever I approach for any loans, credit card, the service level is satisfactory. The customer representatives are very polite interms of answering my queries. The website is very good to check all information.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 13, 2019
    • IndusInd Bank Credit Card
      "Good Card"
      0.5 5.0/5 "Blown Away!"
      My Indusind bank platinum aura card has the shopping benefits without any yearly fee and joining fee. More over the credit limit is sufficient around Rs.75,000 its enough for me and they do have fuel surcharges for petrol filling at selected partners.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 13, 2019
    • Bank Bazaar Credit Card
      "Good"
      0.5 4.0/5 "Great!"
      I have been using Bankbazaar's website for a while. Their website and mobile application and very user friendly. I have come to now about Bankbazaar.com from the internet. I always check credit score on their website. Customer service was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 13, 2019
    • YES Bank Credit Card
      "Good"
      0.5 4.0/5 "Great!"
      I have received my YES PROSPERITY EDGE from Yes Bank. Credit limit is good and there is no annual fee.Yes bank customer service was good, I had received the card on time. The features of the card are great. I am getting reward points and cashback offer.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 13, 2019
    • Citibank Credit Card
      "Good card for all spends"
      0.5 4.0/5 "Great!"
      From CITI bank I got reward card, best part I could convert the rewards points into cash and if I use this credit card at Indian oil petroleum they give cash back. This card has life time free benefits, they already gave me sufficient limit hence its fine for me.
      Was this review helpful? 2
      , pune
      Reviewed on Sep 13, 2019
    • HDFC Bank Credit Card
      "Good for travelers"
      0.5 5.0/5 "Blown Away!"
      Past 4 years I have been holding HDFC card, earlier I had rewards titanium credit card very recently I upgraded to Regalia card it has yearly fee. They are providing airport lounge facility with travel discounts at make my trip and goibgo. The customer care executives are very helpful but rate of interest is higher for the late fee.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 13, 2019
    • Bank Bazaar Credit Card
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I appreciate the responsiveness of Bank Bazaar.com, they are more prompt when I approached for the YES Bank card, I got satisfactory service. First time I came the site through internet search then I logged in for the credit card purchase. It would be great if Bank Bazaar provides more offers based on the customer profile.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 13, 2019
    • YES Bank Credit Card
      "E commerce offers should be increased"
      0.5 3.0/5 "Satisfactory"
      Reason to select this YES Prosperity card has an option to earn more points based on the spend, they gave me Rs. 35,000 as limit its fine for me. It has life time free benefits but I am not getting any offers at e commerce sites like amazon, flipkart.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 13, 2019
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