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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 However, the amount of cash that can be withdrawn vary from card to card and so do the charges levied on availing this facility.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    SBI charges a cash advance fee of 2.5% of the amount withdrawn or Rs.300 (whichever is higher), whereas for international transactions, a fee worth 3% or Rs.300 (whichever is higher) is levied.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

    • IndusInd Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have Indusind Bank credit card which was taken through online .If I have any need this card will be fulfilled by using it. The credit limit was 1L was okay. This was a life time free card and got it on proper time frame .There was proper callback and follow up from bank end when applied for this credit card .
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2020
    • IndusInd Bank
      IndusInd Bank Credit Card
      "Good card"
      0.5 4.0/5 "Great!"
      I have applied INDUSIND bank credit card, which I have applied through online and i have started using this credit card now. The credit limit was Rs.1,00,000 it is a average and this is a life time free card. The customer service and responsiveness are good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 20, 2020
    • HDFC Bank Credit Card
      "Good card for all purposes"
      0.5 5.0/5 "Blown Away!"
      I have been using HDFC bank credit card for more than 3 years. I had applied through bank directly. It is a life time free card. The credit limit 60K. EMI conversion is applicable in this card. Mobile app is good.EMI conversion is easy. I use for Shopping and fuel purposes. I get good reward points and redeem it. If I spend 100 rupees auto credit of 3.5 rupees for fuel purposes. It is a Titanium times card.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2020
    • IndusInd Bank Credit Card
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have Indusind Bank credit card which was taken through bank .I am using this credit card for the past 8 months .The credit limit was 40,000 and this was a free card and there are movie ticket offers as well as cash back offers .I have got the credit card on time .I have submitted the required documents on time ,I am using this credit card frequently 50% of the amount from the credit limit.
      Was this review helpful? 0
      , kanpur
      Reviewed on Jan 20, 2020
    • SBI Cards Credit Card
      "Need to imrpove customer service "
      0.5 4.0/5 "Great!"
      I am not happy with SBI customer service because whenever try to contact not connecting on time to them . I have taken a credit card through online with annual fee chargeable of 499 plus GST. By 2 weeks I got a card. The credit limit is sufficient. EMI conversion is avail if I do transaction more than 3K. Since I got better option of card when compared to other bank so chosen it. They are providing good discount for E commerce. The credit limit of 75K is nominal.
      Was this review helpful? 0
      , thane
      Reviewed on Jan 20, 2020
    • RBL Bank Credit Card
      "Need to provide more benefits "
      0.5 4.0/5 "Great!"
      I have been using RBL bank credit card for more than 1.5 years. I got a card offer directly from bank. The credit limit is sufficient and have not requested for limit enhancement. It is a life time free card. EMI conversion was bit high when compared to other. I use this card for normal purpose. Based on usage I get reward points up to 10K.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2020
    • HDFC Bank Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I am using HDFC master credit card for more than 2 years. Credit limit is 30,000rupees. The customer service and responsiveness was good and also i am getting reward points overall it is good. This is a life time free card and also interest was nominal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 20, 2020
    • ICICI Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using ICICI Bank credit card which was availed through bank directly.There are cash back benefit and almost using this credit card for the past 2 years .The credit limit was satisfied and have discount of 15% for shopping which is really good and this is a chargeable card .
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2020
    • Citibank Credit Card
      "Good "
      0.5 4.0/5 "Great!"
      I have applied a credit card with CITI bank through online. They have offered a life time free card and on time I got a call from their end and the process was done smoothly. I received a card by 6 days. The credit limit is sufficient. EMI conversion is available. I use this card for shopping and fuel purposes. At initial they told 1000 rupees gift card will be provided from flipkart but I am yet to receive it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2020
    • IndusInd Bank Credit Card
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have Indusind Bank credit card which i have availed due to online offer.This was a free card ,i am using the credit card for the past 2 months only but not done more transactions. I bought the card for all purposes .Without any delay got this credit card .The process was smooth and satisfied so far .
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2020
    • IndusInd Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have Indusind Bank credit card which was availed through online. The credit limit was ok, i have taken this credit card since got offers. Now a days credit card is very useful on all emergency purpose. This credit card service is available everywhere .This service is much convenient to me according to my experience.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2020
    • IndusInd Bank Credit Card
      "Service is Good"
      0.5 4.0/5 "Great!"
      I have chosen Indusind credit card since got the offers,The credit limit was very less but i was expecting more limit. I have used this credit card to pay school fees for my kids.I have not used this credit card much.The service was really good according to my experience.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 20, 2020
    • HDFC Bank Credit Card
      "Need to improve in customer service"
      0.5 4.0/5 "Great!"
      I have taken HDFC credit card through online channel. This is a life time free card and also getting reward points. I am using this card since 4 years. Customer service was not good, so need to improve in service and they have given a good credit limit.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 20, 2020
    • IndusInd Bank Credit Card
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have Indusind Bank credit card which i am having for the past 2 months.I have not used the credit card much ,The credit limit was 50,000 it was good ,This was a life time free card it is becoming necessary since needs are there any time. Nowadays credit card usage is increasing mostly.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 20, 2020
    • ICICI Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have ICICI Bank credit card which was taken through bank directly.I am mostly using this credit card only for the past 6 months .This credit card is a life time free card,airport lounge access is available ,If purchase mobile will get cash back offers .Everything is good on this credit card so far .
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2020
    • HDFC Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using HDFC Bank credit card which was taken through Bank.This was a regalia card which i am having for the past 5.3 years. This was a life time free card and there are airport lounge access as well as movie ticket offers also.I will be getting cash back offers as well.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2020
    • SBI Cards Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have SBI credit card which was availed through Online .The credit limit was 12,000.I have got the update it is a life time free card later told need to pay Rs.500 this was the issue.There is no special benefits and features. I have chosen this card since got call from the executive.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2020
    • HDFC Bank Credit Card
      "Need to decrease interest charge "
      0.5 3.0/5 "Satisfactory"
      I have been using HDFC bank credit card for more than 7 years. They have provided life time free card but they haven't enhance the limit so far. There is no option of EMI conversion. Mostly I use this card for hospital expenses and sometimes for shopping. Main drawback is interest rate was very high.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 20, 2020
    • Axis Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am using AXIS BANK credit card for past 5 years. I get movie tickets offers and cash back. The reward points are not available in this card. Credit limit offered from bank is R.39K which is fine. They have not offered with EM conversion. I use this card mostly for shopping.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jan 19, 2020
    • HDFC Bank Credit Card
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have been using HDFC bank credit card for past 3 years, which was pre approved card. I have a credit limit of Rs.45K and it get enhanced on time as per the usage. It is a life time free credit card. I have received the cash back for booking movie tickets by online.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jan 19, 2020
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